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Sugar export licences to be suspended on lack of demand

The Ministry of Commerce (MOC) last month suspended 103 licenses to re-export sugar due to a lack of demand from China, said U Win Htay, deputy chair of the Myanmar Sugar and Sugarcane Related Products Merchant & Manufacturers Association. Out of 103 companies, 49 companies will have their trading registrations suspended for three months, while […]

Aviation authorities continue to expand the cargo terminal at YIA

Aviation authorities are continuing the expansion of the new cargo terminal owned by Mingalardon Cargo Services (MCS) at Yangon International Airport (YIA), sources said. It will stock up all export and import cargos and can provide high quality aviation cargo services. The expansion work is expected to last about 14 months. At present, only the […]

Government prohibits import of frozen meat at Thai border

The import of frozen meat at the Myanmar border will be prohibited from March 1 onwards, U Khin Maung Lwin, assistant secretary of Ministry of Commerce (MOC), told The Myanmar Times. The border ban includes all forms of frozen meat, including red meat, fish and marine produce. However, importing via sea routes is still permitted. […]

Southeast Asia seeks ways to protect car industry

Several Southeast Asian countries are finding ways to protect their emerging car industries from imports, after eliminating auto duties by the end of last year. Indonesia, Vietnam and Thailand have introduced measures either to hinder imports or benefit local production, while Malaysia is looking at possible curbs on foreign car sales. The new trend is […]

Economic outlook negative: UMFCCI

Myanmar’ economy is in worse shape this year compared to 2017 and 2016, according to the Business Sentiment Survey for the second quarter of 2018 conducted by the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) . The results of survey were released during 2nd B4B Insights Forum organised by UMFCCI on […]

Kyat rebounds after re-export activities suspended

The spike in the exchange rate between the US dollar and Myanmar kyat appears to have tapered after the Ministry of Commerce (MOC) on August 17 temporarily suspended re-exports of sugar and diesel. “We suspended re-exports of sugar and diesel because the cash flows involved are huge enough to influence the exchange rate,” said U […]

Import of Diesel to Myanmar, Calling Interested parties.

Numaligarh Refinery Limited (NRL), a Government of India Enterprise, operating a 3 million metric tonnes per annum (60,000 bpd) petroleum refinery is looking for interested parties in Myanmar to import NRL diesel at Tamu, Myanmar and establish a market for its products in the Sagaing region. -Source of supply: Numaligarh Refinery in Assam, India -Distance […]

Economist warns of adverse impacts on kyat depreciation

MYANMAR’S government has been urged to rein in the rise of the kyat and ease the impact of a decline in export competitiveness on the country’s manufacturing and agricultural sectors. The economy could be in deep trouble, if the exchange rate continues to appreciate against the US dollar, said U Myint, who served as the […]

Myanmar launches new companies law to adapt to current age

YANGON, Aug. 1 (Xinhua) — Myanmar has instituted a new companies law after amendment of its outdated Companies Act-1914 to adapt to the current age, registering an important milestone with its measures of promoting foreign investment. The new Myanmar Companies Law-2017 comes into effect from Wednesday, enabling a company’s registration process to be done electronically […]

Property developers come under pressure as dollar rises

Property contractors are under pressure from rising costs of building materials as a result of the higher dollar-to-kyat exchange rate. Building machinery and materials such as steel bars, which are imported from overseas, have become dearer to local developers and contractors on the back of the appreciating dollar, which yesterday hit a new high of […]