import

Economic outlook negative: UMFCCI

August 29, 2018 by Thiha

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 […]

Filed Under: Latest News Tagged With: B4B Insights Forum, Business Sentiment Survey, economic, economic conditions, export, High Taxes, import, manufacturing, Myanmar economy, real estate, Services, tariffs, trade sectors, UMFCCI, volatile exchange rates

Kyat rebounds after re-export activities suspended

August 27, 2018 by Thiha

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 […]

Filed Under: Latest News Tagged With: CBM, Central Bank of Myanmar, China, currency, Diesel, Directorate of Trade, Exchange Rate, export activities, Forex, Illegal, illegal cash flows, import, India, Kyat, local export, Ministry of Commerce, MOC, Myanmar, singapore, SUGARCANE, Thailand, unofficial, US dollar

Import of Diesel to Myanmar, Calling Interested parties.

August 18, 2018 by Thiha

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 […]

Filed Under: Tenders & Awards Tagged With: Asian Highway 1, Assam, Diesel, General Manager (Marketing), Government of India Enterprise, import, importer, India, Mr Eebon Datta, Mr Subrata Das, Myanmar, negotiable, Normal Diesel, NRL, Numaligarh Refinery Limited, premium Diesel, price, Sagaing Region, Senior Manager (Marketing), sulphur, Tamu

Economist warns of adverse impacts on kyat depreciation

August 8, 2018 by Thiha

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 […]

Filed Under: Latest News Tagged With: Economy, Exchange Rate, export, import, Kyat, Myanmar, US dollar

Myanmar launches new companies law to adapt to current age

August 3, 2018 by Thiha

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 […]

Filed Under: Latest News Tagged With: authorized capital, chairman, China, Companies Act-1914, company's registration process, entrepreneurs, export, FDI, financial reports, foreign capital flow, Foreign Direct Investment, foreign investment, foreign investors, import, insurance, Local Businessmen, Master Plan, Minister, Myanmar Companies Online system, MyCO, new Companies Law, new urban development projects, Public-Private Partnership, singapore, single director, single shareholder, Statistics, Stock Market, Thailand, U Thaung Tun, U.S. dollars

Property developers come under pressure as dollar rises

July 26, 2018 by Thiha

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 […]

Filed Under: Latest News Tagged With: Asia Construction, Central Bank of Myanmar, Condominium law, construction costs, Exchange Rate, General Manager, General Secretary, import, iMyanmarhouse.com, installment plan, Managing Director, Myanmar Construction Entrepreneurs Association, Property contractors, Property developers, property sales director, steel bars, Success Property Consultant Company, U Kyaw Kyaw Soe, U Kyaw Si Thu, U Nay Min Thu, U Yang Aung

Chamber backs SMEs to embrace digital technology

July 20, 2018 by Thiha

As small and medium enterprises in Myanmar are facing challenges, the Union of Myanmar Federation of Chamber of Commerce and Industry is encouraging small and medium-sized enterprises to pursue digital competency to ensure their long-term survival, a chamber executive member said in an exclusive interview. Aye Tun, vice president of the chamber’s SMEs Committee and […]

Filed Under: Latest News Tagged With: Aye Tun, bank loans, chamber executive member, chamber’s SMEs Committee, demand, digital technology, Germany’s GIZ, import, instant noodles, Japan International Cooperation Agency, joint ventures, Kasikorn-bank, local businesses, Ministry of Industry, Monywa, Myanmar goods, Myanmar Industries Association, Myanmar longyi, Small and Medium Enterprises, SME entrepreneurs, SMEs, tariff rates, Technology, Thailand, Union of Myanmar Federation of Chamber of Commerce and Industry, Vice-President

Yangon Govt Submits Plans for New Port, Industrial Zones

June 12, 2018 by Thiha

YANGON — The Yangon Region government is seeking approval for 11 new industrial zones on the city’s outskirts and a new multipurpose port terminal near the mouth of the Yangon River to promote regional development, create jobs and attract foreign investment. Yangon Region Chief Minister U Phyo Min Thein first revealed plans for the new […]

Filed Under: Latest News Tagged With: export, foreign investment, Hlegu, Hmawbi, Htan Tabin, import, industrial zones, Kawhmu, Khayan, Kun Chan Kone, Kyauktan, lawmakers, New Yangon City Project, oil imports, Taikgyi, Thanlyin, Thilawa Port, Thonegya, Twantay, U Maung Maung Soe, U Phyo Min Thein, Yangon Investment Forum, Yangon Mayor, Yangon Region Chief Minister, Yangon Region Government, Yangon River

Numaligarh Refinery Limited, Expression of interest, For import of Diesel at Tamu, Myanmar.

May 18, 2018 by Thiha

Numaligarh Refinery Limited(NRL), a Government of India Enterprise, operating a 3 million metric tonnes per annum (60000 bpd) Petroleum Refinery located at a distance of around 425 kms from Moreh(India)- Tamu(Myanmar) border invites Expression of Interest (EOI) from interested parties in Myanmar to import NRL diesel at Tamu, Myanmar. NRL is interested to export diesel […]

Filed Under: Tenders & Awards Tagged With: Assam, Diesel, EOI, expression of interest, Government of India Enterprise, import, Marketing & Business Development, Moreh-Tamu border, Moreh(India), Myanmar, NEDFI Building, NRL, Numaligarh Refinery Limited, Sagaing Region, Sr. Chief General Manager, Tamu, Tamu(Myanmar), tank lorries

Infrastructure, safety standards needed for LPG industry to take off

May 15, 2018 by Thiha

The government is now more than half way through its term and time is running out for it to make good on its promise to double Myanmar’s supply of electricity within the next two years. But the government is not without backup plans to help it achieve its goals, one of which is replacing the […]