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New LED lights to brighten Yangon streets

The Yangon Electricity Supply Corporation (YESC) will be solely responsible for maintaining all streetlights in the region and will change the current lights to more efficient LED ones, Daw Nilar Kyaw, Minister for Electricity, Industry, Transport and Communication, said on September 26. The announcement came as a response from Daw Thet Htar New Win, Member […]

FDI jumps 77pc to US$2.3 billion in first half of 2019

Government-approved foreign direct investment (FDI) into the country stood at US$2.3 billion in the first-half of 2019, a 77 percent improvement from the same period last year when approved FDI came in at US$1.3 billion. According to statistics from the Directorate of Investment and Company Administration, Singapore was the top investor with US$1.3 billion and […]

Higher tariffs still welcome if power supply is regular, investors say

Despite higher electricity prices, if businesses are able to enjoy a regular, uninterrupted supply of power, the move is still welcome as most will still be commercially viable, some investors said. “In the last year alone, blackout time in our factory was over 300 hours. When the power is out, we have to run the […]

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 […]