Parliament at Odds with President Over Pay

YANGON — A parliamentary drafting committee on Tuesday rejected President Thein Sein’s revisions on a plan to raise government salaries, according to lawmakers. A draft proposal to increase Union parliamentarians’ salaries from 300,000 kyats (US$300) per month to 1 million kyats per month was approved by both house houses of the legislature in late 2014. […]

Natural gas prices not to rise, says MOGE

The Myanma Oil and Gas Enterprise (MOGE) has denied a rumour that it will increase the price of compressed natural gas and promised to make an official announcement when prices are to increase. “The rumuor that gas prices will be raised is not true. We will officially inform the public through online social media when […]

Myanmar’s Population Growing by 34,000 per Month

From April to October this year, Myanmar’s population grew by 237,975, according to official statistics from the Ministry of Immigration and Population, first reported in the Global New Light of Myanmar. This amounts to a projected population increase of 407,957 per year. This growth rate is lower than the world average, estimated by the World […]

Tourists to top 3 million by end of 2014

Tourist arrivals in Myanmar are certain to exceed the expected number of over 3 million with over 100,000 more arrivals in the first week of December alone, according to a press release by the Ministry of Hotels and Tourism on December 17. A total of 2.7 million tourists visited the country from January to the […]

Prohibited goods still imported across Myanmar-Thai border

Restricted items such as propane cylinders, sugar, inedible monosodium glutamate (MSG) and beer are being imported from Thailand through border crossings, according to merchants. The import rates of these items seem to be increasing, despite restrictions. The import rate for propane cylinders jumped 30 per cent this year. “Propane gas tanks are being imported from […]

Foreign trade to increase to US$35 billion this year

Myanmar aims to raise its foreign trade volume by US$10 billion during the current 2014-15 fiscal year, according to the Ministry of Commerce. Myanmar’s foreign trade volume gone has from US$15 billion to US$25 billion in three years. “We intend to increase it to US$35 billion this fiscal year,” said Minister of Commerce Win Myint. […]

Building banking depends on trust

More trust is needed to increase the banked population, which languishes at 5 percent of the adult population, according to experts. There are now 798 commercial bank branches in Myanmar – rising to well over 1000 if state-owned bank branches are included – and also 700 ATMs and 2813 point of sale devices as of […]

Fish Food Prices Increase as China Imports More Raw Materials

The local Fish Food Producers Association announced that it has decided to import food for fish and prawn rather than manufacturing locally, responding to a hike in local prices. Increasing demand for fish food raw materials from China has driven up the price of fish food over the past year. In June 2013, the price […]

Myanmar needs modernized rice mills, says industry association

The Myanmar Rice Millers Association (MRMA) has stressed the need for setting up modernized rice milling units in the country to be able to increase exports of high-quality 5 percent broken rice, according to local sources. The MRMA noted that Myanmar’s high-quality 5 percent broken rice (locally known as tann myint) has huge demand from […]

China remains as Myanmar’s top trading partner

China continues to rank as the top trading partner with more than US$ 7 billion worth of transactions in the previous fiscal year, according to the Ministry of Economic and Commerce. In the fiscal year 2013-2014, the country’s international trade amounts to $ 24.86 billion, of which the biggest volume is attributed to China-Myanmar trading. […]