fbpx

Red Dot closure concerns spread to industry, draws light on licensing procedures

Disenfranchised agents of the now defunct Red Dot Network Ltd plan to file a court case against the payment-solutions provider after being turned down by the Consumer Protection Central Committee, which said their case could not be handled under the Consumer Protection Law. The agents are unhappy that deposits paid to Red Dot will likely […]

Boat Builder Floats New Business to Tap Island Tourism Boom

With tourism booming in southern Myanmar, residents of Myeik in Tannitharyi Region are finding ways to benefit by filling niches in the industry. Ko Thein Zaw Min, managing director of Mergui Dolphins, one of 40 tour companies in the area, has found a way to do this by opening a boat-making workshop. The number of […]

Construction sites struggle as skilled workers head overseas

Daw Hay Mar, a trader, can only shake her head when talking about the high expenses she incurred in constructing a storage building and workers quarters because of poor workmanship. She said her nightmare started when she hired a group of construction workers in her neighbourhood for the job. Daw Hay Mar said the building […]

Illicit imports threaten Myanmar’s e-commerce players

The commerce ministry committed to developing the country’s nascent e-commerce sector as a means to boost trade and create jobs, but the lack of infrastructure and rampant illicit trade pose a serious threat to the emerging industry. The report from the United Nations Conference on Trade and Development (UNCTAD) titled “Rapid eTrade Readiness Assessment of […]

Myanmar pulses unaffected by India’s import restriction: industry

India’s Department of Commerce, under the Ministry of Commerce and Industry, has released a trade policy statement, on August 30, stating that as per the foreign trade policy, import of peas classified under Exim Code including yellow peas, green peas, dun peas and Kaspa peas is “restricted” until the end of September. However, this will […]

Yangon threatens unregistered fibre optic firms with legal action

The Yangon government will take action against unregistered telecommunications companies providing services such as installation of fibre optic cables for commercial and residential customers, a regional minister said. Daw Nilar Kyaw, Yangon Region minister for Electricity, Industry, and Roads and Communications, told the regional parliament on Wednesday that next month, her office will join up […]

Myanmar: Timber export earnings well down on previous years

U Khin Maung Kyi, the Deputy Permanent Secretary of Ministry of Natural Resources and Environmental Conservation, has been quoted as saying income from timber exports and domestic trade will exceed the US$90 mil. in fiscal 2017-18 target which ends 31 March 2018. This represents a considerable decline from past years. The value of wood product […]

Gov’t plans three hydropower projects in Sagaing region

The regional government is planning to develop three hydropower projects in Homalin, Kani and Nanyon townships in Sagaing region under the guidance of State Counsellor Aung San Suu Kyi, said Than Nyunt Win, regional minister for electricity, industry and transport. The company that won a tender to conduct an assessment of the potential for electricity […]

Industry debates tax levels after easing gold trade

Speculation has been rife over the level of duties involved in the import and export of gold since the trade was liberalised last month, allowing gold to move freely in and out of the country via air, sea and border routes. Although the authorities have yet to make any announcements, industry insiders reckon a 15 […]

Yangon to Take Part in Upgrading of Industrial Zones

​​ The Yangon Regional Government will upgrade the industrial zones located within Yangon Region to encourage further investments and development, U Phyo Min Thein, the region’s Chief Minister said during a meeting at the office of the Union of Myanmar Federation of Chambers of Commerce and Industry late last week. There are 29 industrial zones […]