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Issuing more quarry licenses will help govt increase revenue: trade body

The Sagaing Region government will generate more income for development work if it starts issuing more permits to businesses engaged in quarry industry for construction purposes, said U Kyaw Tin, the chairman of the Construction Stone Sellers’ Association, Sagaing Region. “Although the association has been registered since 2018, only 20 per cent of the entrepreneurs […]

MoE, KfW sign agreements on funding nearly euro 10 mln for TVET reform

Department of Technical and Vocational Education-DTVE of Ministry of Education and German Development Bank (KfW) signed a financing agreement and other separate agreements on funding nearly euro 10 million on implementing “TVET Reform Programme Phase II” at the ministry in Nay Pyi Taw yesterday. Speaking at the Signing Ceremony of “TVET Reform Programme Phase II” […]

Japanese fund vocational skills institute

The Japan International Cooperation Agency (JICA) has signed an agreement with the government to establish and fund the Japan-Myanmar Aung San Vocational Training Institute. Under the contract, which was signed on Tuesday in Yangon, JICA will provide ¥165 million (K2.32 billion/US$1.47 million) for the detailed design of the institute, the Japanese aid agency said in […]

Myanmar seeks new export markets for local cattle

Myanmar will seek new foreign markets to which it can export cattle, said Daw Tin Nwe Yee, a deputy director from the Livestock Breeding and Veterinary Department under the Ministry of Agriculture, Livestock and Irrigation. “We are working on exporting to India through Tamu-Moreh border trading point and will continue to legalise new routes,” she […]

Myanmar draws up agricultural development master plan for Yangon region

Myanmar has drawn up a three-year master plan (2018-2021) for development of agriculture in Yangon region and the plan will soon be implemented, Myanmar News Agency reported Wednesday. It was disclosed by Yangon Region Chief Minister U Phyo Min Thein at a Flower Festival held at the People’s Park Tuesday. Stressing the need for developing […]

Border zone with China to go ahead

An approval regarding the location of the proposed China-Myanmar border economic zone will be given “soon”, assistant secretary U Khin Maung Lwin from the Ministry of Commerce told The Myanmar Times. The discussions were carried out last week by the implementation body with priority made between Kachin and Shan states as they share the border […]

Local, foreign direct investments to be permitted as soon as possible in Mandalay Region

The Mandalay Region government will permit local and foreign direct investments (FDIs), as soon as possible, if the proposals meet the necessary terms and conditions, said Dr. Zaw Myint Maung, Chief Minister of Mandalay Region. The Mandalay Region Investment Committee was formed in July 2017 after the Directorate of Investment and Company Administration handed over […]

GDP expands to 7.4pc as more companies are cleared for business

Mandalay Region, Myanmar’s second largest city, has permitted the opening of 14 local and foreign businesses in the 2017-2018 fiscal year, said Dr Zaw Myint Maung, chair of the Mandalay Regional Investment Committee. Nine foreign companies will contribute foreign direct investments totaling $13.6 million, while the remaining six companies will contribute K23.1 billion in local […]

70% of foreign investment comes through Yangon

About 70 per cent of overall foreign investment flowing into Myanmar comes through Yangon region, said Deputy Director Than Aung Kyaw from the Directorate of Investment and Companies Administration (DICA). Investment committees from regions and states are allowed investments worth US$5 million and 6 billion kyat. Yangon region investment committee allowed 27 foreign investments and […]

Dilemma on minimum wages could lead to better productivity

Concern is rising among employers over demands that the minimum wage be raised to K4,800- K6,600 ($4-$5.20) per day from K3,600 per day currently. That’s a potential increase in wages of more than 80 percent, a move which, if implemented, could put many companies out of business. The Confederation of Trade Unions in Myanmar (CTUM), […]