Amid China stand-off, BPCL plans Myanmar pipeline

State-owned Bharat Petroleum Corporation Ltd (BPCL) is in talks with neighbouring countries including Bangladesh and Myanmar and others to set up product pipelines, the senior executives of the company said on Tuesday. The focus on neighbouring countries, especially Myanmar, seems important considering the recent tension between India and China over Doklam. Also, plans of similar […]

Global standards issued for local coffee producers

IN a bid to promote local coffee to the international market, the Agriculture Department will be issuing a Good Agricultural Practice (GAP) certificate to qualified local coffee producers this year, said Daw May Thet Hlaing, a coffee expert from the Coffee Research, Information, Extension and Training Centre. Local coffee producers who meet a list of […]

Crop insurance, land reform and investment are essential to Myanmar’s agricultural sector

Q: What is the state of the rice industry in Myanmar? A: The government relaxed its control of the rice industry in 2003. Since FY2012-2013, rice export volume has exceeded one million tons per year. Q: Rice from Myanmar does not meet international standards and fails to sell for good prices in the international market. […]

Myanmar’s business community must tap cluster potential to compete on global scale

“There are clusters formed by firms in similar sectors. In the Mandalay Region, the Directorate of Industrial Supervision and Inspection formed industrial clusters since 2014 and there are now 111 groups in 15 industrial clusters.” “But the business community in Myanmar is not very interested in this potential,” he said. “Businessmen here prefer to work […]

Insurance liberalisation must strike delicate balance in Myanmar

Insurance is normally a highly competitive industry, but in Myanmar – only recently opened to the international market – that competition is highly controlled. Nyo Myint, Vice Chairman of IKBZ Insurance, explains that although the monopoly of the state-owned Myanma Insurance has ended, the country’s 12 insurance companies are still relative novices. Myanmar’s insurance industry […]

Myanmar’s smoking pipes and blackboards to penetrate international market

Businessmen in Chaungzon, Mon State are attempting to distribute Myanmar’s smoking pipes and blackboards, which have already caught the attention of many foreigners to the international market. Mon State Hotels and Tourism ministry will provide the capacity-building so that Myanmar’s smoking pipes and blackboards can more easily enter the international market. The small-scale businesses will […]

Japanese bank tests kyat currency hedge

Sumitomo Mitsubishi Banking Corporation is testing the use of forward exchange rate contracts in Myanmar, in response to clients eager for a way to hedge against kyat volatility. The Japanese lender is providing a forward contract to one of its Japanese clients, an official at the SMBC’s Yangon offices told The Myanmar Times. He said […]

Myanmar to allow exports and imports of gold

NEW DELHI (Scrap Monster): According to Than Htun Aung, Myanmar’s Deputy Minister for the Ministry of Mines, the country will introduce a new mining law that will allow exports and imports of gold . The meeting of representatives held at the Union parliament session has recommended making the precious metals import and export legal under […]

Golden push for local market plans

The Myanmar Gold Entrepreneurs Association is pushing for a solution to the fractured local gold selling market through the introduction of a central exchange with strong rules. The market’s aim is to standardise criteria for quality and pricing in line with international standards, while bringing all trading to one place, said association secretary U Kyaw […]

Myanmar gold price soars in August

Domestic gold prices have risen by up to K50,000 over the past three weeks. Buyers clocked that the price of gold in Myanmar was lower than in the international market, due to currency volatility, and rushed to take advantage of the opportunity, said traders. The kyat has depreciated by 24 percent this year versus the […]