Foreign Firms Allowed to Import Agricultural, Medical and Construction Materials

The import of seeds, fertilisers, hospital equipment and building materials by foreign businesses will soon be permitted for the first time, U Khin Maung Lwin, assistant secretary from Ministry of Commerce, told The Myanmar Times. Procedures to permit non-Myanmar firms to trade agricultural products and building materials have been ongoing, and negotiations with related ministries are […]

Rakhine State Plans to Export 10,000 Tons of Beans to India

Rakhine state plans to export 10,000 tons of Matpe beans to India in the cur­rent fiscal year, which be­gan in April. Official media reported that arrangements are underway to plant Matpe beans in the state during the coming rainy season and will export the sur­plus to the neighboring country, Rakhine State Minister of Planning, Revenue […]

Myanmar, Netherlands Plant Seeds of Accord

Myanmar and the Netherlands have planted the seeds of cooperation to develop the local agricultural sector, especially the development of high yielding crop seeds. A ceremony to mark the program was held in Nay Pyi Taw on Tuesday, which sees the Netherlands sharing its vast research and development in seed technology with Myanmar, whose economy […]

Pay Hike for Civil Servants Unlikely

Hopes for a pay rise this month will likely remain a pipe dream for civil servants, according to an official from the Ministry of Planning and Finance. The ministry official said no recommendation on increasing the salaries of civil servants had been made during the parliament meeting to discuss the Union budget, denying rumours that […]

Fiscal Year 2017-18: a New Dawn for Economic Policies

​​ The new fiscal year will start on April 1, which also marks the start of new laws and economic policies for Myanmar. The new Myanmar Investment Law, which was recently passed, will come into effect on April 1 and its implementation and enactment will spell changes for the country’s businesses and investors. A developing […]

Myanmar surpasses FDI target of $6 bn in fiscal year 2016-17

“We have approved 135 foreign businesses according to the Foreign Investment Law during this fiscal year,” he said this week. “Meanwhile, we have approved FDI inflows of $262.59 million in the Thilawa Special Economic Zone, according to our SEZ Law. In total, we could approve $6.87 billion [Bt240 billion] this year.” Aung Naing Oo is […]

Yangon to invest Ks 8 billion into agricultural sector

The Yangon Region Government has earmarked about Ks8 billion to spend on development of the mechanised agricultural sector in Yangon Region as part of a revitalization effort for farmland, said Yangon Region Chief Minister U Phyo Min Thein. “As far as the industry sector is developed in Yangon Region, it is found that the agriculture […]

Rakhine commerce minister sees bright future for black bean exports

​​ The Rakhine State commerce minister is hoping around 10,000 tonnes of black gram beans will be exported to India from Sittwe this year, pending completion of the Kaladan Multi-Model Transit Transport Project. The Kaladan project will connect Mizoram in India to Sittwe, the capital of Rakhine State, via the Kaladan River. The project was […]

Rakhine Farmers Caught Between Falling Prices and Rising Labour Costs

​​ Farmers associations in Rakhine State – one of the biggest rice producing regions in Myanmar – are calling for government aid amid falling prices, closing markets and a shrinking labour pool. But the state government says it does not have the funds or the expertise to help solve what it says is a nationwide […]

Export sector in this FY earns US$ 203.954million higher than that of last FY

Export value as of 2nd December in this fiscal year 2016- 2017 was US$203.954million higher than that in the similar period of last fiscal year, despite the decrease in income from manufacturing goods, minerals and livestock, according to the statistics of the Commerce Ministry. The value of exports as of 2nd December was US$7,364.164million, which […]