Maritime Trade Value Declines While Border Trade Value Increases

The value of trade through normal trade as of 11th November in this fiscal year declined by over US$328.406 million, while value of trade through border area increased by US$ 390.421million, according to the statistics provided by the Commerce Ministry. The value of exports as of 11th November in the current fiscal year was US$4,234.941million […]

Border trade tops US$3billion, a rise from previous fiscal year

Border trade as of 14th October in this fiscal year 2016-2017 reached over US$3billion, which is higher compared to the similar period of the last fiscal year, it is learnt from the Ministry of Commerce. Border trade value from 1st April to 14th October in this fiscal year fetched US$3,790.3million, which is up from US$3,451.254million […]

Export price of rice to China on the decline unlike stable domestic rice price

The price of rice exported to China through the Muse trade channel has been on the decline, unlike the domestic rice price, which remains stable  said U Kyaw Min, the secretary of Mandalay Rice Depot. Rice is exported to China mostly through the Muse and Lweje border trade camps, but the rice trade is declining […]

Telenor on a building spree in Myanmar

The Norwegian-linked company Telenor wants to make sure that affordable mobile communication services reach all levels of Myanmar society, and not only targeting the high-income earners. CEO of the company, Lars Erik Tellmann, says that they plan on doing so by adopting the same sales and distribution model that was implemented in several other Asian countries. “Telenor is committed […]

Telenor and MPT apply for spectrum auction

Telecoms companies Telenor and state-owned MPT will be among the potential bidders at a long-awaited auction for more broadband spectrum next month, while rival telco Ooredoo has decided to wait for a separate auction it expects to happen later in the year. Spectrum – the radio frequency on which communication traffic can be sent – […]

Telenor tests 4G across five cities

Telenor Myanmar has tested fourth-generation (4G) mobile services in Yangon, Mandalay, Nay Pyi Taw, Myawady and Muse, a company spokesperson has told The Myanmar Times. The tests come as the Norwegian mobile operator looks to migrate to 4G, a move that rival telco Ooredoo has already started. The Qatari firm’s website says its fourth-generation rollout […]

AccorHotels plans six new properties in Myanmar

French group AccorHotels is planning to build six new properties in Myanmar by 2019 – in Yangon, Mandalay and Shan State’s Muse and Inle Lake . This would take its Myanmar portfolio to nine hotels, demonstrating considerable confidence in the future of the country’s nascent tourism industry. The Ministry of Tourism targets 6 million international visitors to […]

High hopes for business zone on China-Myanmar border

An ambitious new economic zone at Myanmar’s largest trading point with China will bring new business opportunities for the two countries, officials and residents said at the project’s soft opening in Shan State’s Muse last week. Around 80 percent of Myanmar’s formal overland trade with China passes through a border point a few miles from […]

Asia World sells jade, mining, toll road businesses

Asia World Company, one of Myanmar’s largest conglomerates, has restructured its business, dropping its toll road, coal-plant, petrol station and mining interests, according to a company spokesperson. The aim is to “streamline operations and improve sustainability,” said the company in a statement. Asia World is owned by US-blacklisted businessman U Htun Myint Naing, who goes […]

High hopes for business zone on China-Myanmar border

An ambitious new economic zone at Myanmar’s largest trading point with China will bring new business opportunities for the two countries, officials and residents said at the project’s soft opening in Shan State’s Muse last week. Around 80 percent of Myanmar’s formal overland trade with China passes through a border point a few miles from […]