Myanmar rubber exports set to rise even as global prices take a beating

The price of rubber has fallen below its cost of production in major exporting countries. Yet, international demand for rubber produced in Myanmar has risen and insiders reckon things could remain upbeat for a while more. “Myanmar rubber production will certainly increase on the back of rising international consumption and demand,” U Myo Thant, vice-chair […]

Draft foreigner laws reincarnated as DICA announcement

ELEMENTS of the draft foreigner laws are back, in another form, to haunt businesses and investors. The government’s newly expanded requirements on hiring foreign employees have been criticised as “burdensome and disruptive” and “another incarnation” of the draft foreigner laws which were submitted to the legislature in February. A leading legal expert has described the […]

Collier Propety Report – Yangon Retail Q3 2017

Retail Market Gains Further Momentum Yangon continues to shift towards retail modernisation. In fact, the opening of St. John City Mall and Junction City Shopping Mall defined further quality improvements over the recent quarters. Given robust demand, Colliers expects that supply will build up and more innovative trends will persist. We see especially strong growth […]

Need to reduce consumption rises as fuel imports surge

As fuel can be imported freely from overseas, the volume and value of fuel imports into Myanmar is expected to rise this year compared to last year, U Khin Maung Lwin, Assistant Secretary from the Ministry of Commerce, told The Myanmar Times. “Gasoline has been allowed to be imported regularly into Myanmar. As the private […]

Putting an end to piracy in Myanmar

A much needed copyright law has to find its way into parliamentary waters. Pirates beware! A law protecting intellectual property (IP) could soon cannonball your ships full of illegally downloaded data. The Union Parliament is indeed set to debate a law protecting the creative works of writers, artists, singers and filmmakers. When will the law […]

VEGA SICILIA TAPS INTO OPEN MYANMAR MARKET

Famed Spanish winery, Vega Sicilia, has set its sights on Myanmar’s wine market with a newly formed distribution agreement with Singapore-based Bordeaux Liquid Gold (BLG), following the country’s loosened grip on wine imports. This will be the first time the Spanish ‘first growth’ has officially shipped its wines to the Southeastern Asian country after years […]

Industry, govt hit back at garment factory report

DURING a news conference held by garment businesses on October 4, the Yangon regional government asked ActionAid Myanmar to revise its report about safety standards for women working in garment factories, calling the report inaccurate. In response to ActionAid’s report, an inspection tour of the factories mentioned in the report was made by Yangon Region […]

Counterfeit goods and illegal trade deters investors, draws focus on lack of IP laws

Counterfeit goods and illegal trade are among the biggest issues for businesses looking to expand in Myanmar, foreign investors and local businessmen told The Myanmar Times. Even though Myanmar has prioritised economic development and identified the sectors it wishes to promote, the counterfeit goods markets and illegal trading activities could undermine the government’s efforts to […]

ASEAN trade pact strengthens Myanmar’s ties with Australia, New Zealand

THE free trade agreement (FTA) between ASEAN, Australia and New Zealand makes Myanmar products more competitive in the two biggest markets in Australasia, according to trade commissioners from Australia and New Zealand. There is a huge potential for trade to grow in the agriculture sector, as all three countries are rich in farms and fisheries. […]

Coffee Exports Stimulated by Production and Demand

Myanmar coffee traders have exported 535 tons of coffee beans this fiscal year, twice as much as the same period the year before, according to statistics from the Ministry of Commerce. Last year, the nation exported 860 tons of coffee generating $1.438 million. In the first five months of the 2017-2018 fiscal year, exports have […]