Myanmar issues over US$8 billion worth of trade permits during COVID-19

Over $8 billion worth of export/import permits have been issued online system since the pandemic, said U Min Aung Aye, director of the Department of Trading under the Ministry of Commerce. From April 1 to September 23, a total of 23,820 licenses to trade valued at around US$8.3 billion were issued by the ministry. “Anyone […]

Myanmar central bank cuts interest rate by a further 1%

The Central Bank of Myanmar (CBM) slashed interest rates by an additional 1 percent today (March 24), taking total rate cuts to 1.5pc within the span of two weeks. Starting from April 1, bank deposit rates in Myanmar will be reduced a minimum of 6.5pc, while lending rates will not exceed 11.5pc for collateralised loans […]

Sugarcane farmers, sugar millers plead for government help

Local sugar millers and sugarcane farmers say they are calling for multiple issues to be addressed urgently by the government to ensure the sustainable development of the sector in the country. The farmers and millers presented the issues during Sugar Forum 2019 industry event held in Nay Pyi Taw on September 10 and 11, said […]

Shrinking demand to eclipse supply issues in tin market

LONDON – The tin market is under greater pressure from an economic slowdown and falling demand than supply issues, where lower production from countries such as Myanmar is likely to be offset by a new project in central Africa. Tin prices on the London Metal Exchange at around $18 000 a tonne are down 15% […]

‘US keen to invest, strengthen ties with Myanmar, but faster reform needed’

The lack of infrastructure, clearer rules on business and domestic politics continue to be issues weighing on investor sentiment towards Myanmar. US Ambassador to Myanmar Scot Marciel, who spoke at the American Chamber of Commerce Myanmar’s “Improving Ease of Doing Business Forum” yesterday, acknowledged that while the government has been implementing reforms and building infrastructure, […]

Experts discuss illegal satellite dishes, Online TV Channel issues

A workshop on Illegal Satellite and Online TV Channel was held at Thingaha Hotel in Nay Pyi Taw at 9 am yesterday. Deputy Minister for Information U Aung Hla Tun, Hluttaw Representatives, Permanent Secretaries of Ministries of Information, Commerce and Office of Union Attorney-General, Head of the Departments, Myanmar Police Force, Chairman of Myanmar Broadcaster […]

Myanmar issues climate change policies as World Bank sounds environment alarm

IN RESPONSE to emerging environmental issues caused by heavy reliance on natural resources, Myanmar has come up with new policies on national environment and climate change as well as a master plan, Kyaw Zaw, deputy permanent secretary at the natural and environmental conservation ministry, said. The official told The Nation on Tuesday that Myanmar’s efforts […]