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Rakhine investment fair can pave way for JVs with foreign investors

The Rakhine State Investment Fair will be held at Ngapali beach in Thandwe, Rakhine Sate for three days from 21 to 23 February. The fair is aimed at generating individual job opportunities, increasing per capita income, regional development and improving the living standard. The following is the interview with Dr Htoo Min Thein, the secretary […]

Japan envoy says development is solution for Rakhine

Japan’s top envoy to Myanmar said that economic development is an answer to Rakhine’s conflict and that Tokyo is considering providing aid for the state. “If there is economic development, I believe that there will be no conflict,” Japanese Ambassador Ichiro Maruyama said ahead of a Japan-backed investment fair in Ngapali. The first Rakhine Investment […]

Long term economic improvement certain, strategy needed: U Win Aung

THE government has come under pressure for its handling of the Myanmar economy, with stakeholders lamenting the slowing pace of economic reform and investment flows. During the first half of 2018, approved foreign direct investments (FDI) totalled just $1.7 billion, compared to $4.1 billion during the same period in the previous fiscal year. Meanwhile, GDP […]

Foreign insurance firms can give Myanmar’s lagging insurance market a much-needed boost

It has been a long time coming, but foreign insurance companies will soon be able to operate in Myanmar. Plans to liberalise the insurance market in this way were first announced in 2011. But only now has the government given the regulations the go-ahead. It is too late for those companies that left after becoming […]

Chin State seeks 10 year tax exemptions

The Chin State Chamber of Commerce and Industry (CCCI) is asking the government for approval to raise the tax-exempt period granted to investors in the state to be raised Ceu Hlei Lian, the chair of the Chin State Chamber of Commerce and Industry submitted the request to the Private Sector Development Committee headed by Vice […]

Garments sector poised to boom in Pathein

The garment industry seems poised to boom in Ayeyarwady Region, with a company developing an industrial park near Pathein signing a contract with a Chinese firm that plans to build 50 garment factories within two years. The new factories would dramatically expand the town’s nascent manufacturing sector, which has for several years been attracting interest […]

‘Tone from the top’ crucial in anti-corruption: DICA

There is a lack of awareness about the transparency and corporate governance aspects of the new Companies Law, according to a senior government official, who argued for the importance of tone from the top in combating corruption. The Myanmar Centre for Responsible Business (MCRB) and the Union of Myanmar Federation of the Chamber of Commerce […]

EU’s threat to scrap trade preferences spurs Myanmar’s reforms

Economic reform is getting a second wind in Myanmar as the government tries to lure back foreign investors scared away by reports of human rights abuses against the country’s Rohingya Muslim minority. The government has announced the easing of restrictions on foreign banks and the creation of a new ministry to oversee foreign investment in […]

Log exports to be permitted to lure timber plantations

The Forest Department under the Ministry of Natural Resources and Environmental Conservation has been planning to permit the export of logs harvested from private timber plantations, U Tin Tun, director of the Forest Department, told The Myanmar Times. To protect the environment and prevent deforestation, Myanmar in April 2014 banned the export of whole logs […]

Korean Jewelry Firm to Produce Jewelry in Myanmar

Apple Design Jewelry Company Limited, a joint venture between South Korean and Myanmar investors, will be crafting silver and gold jewelry, according to Directorate of Investment and Company Administration. The firm is investing $2 million, and will operate its business on No.112, Myaydaing Quarter, Than Choke Won U My Street in East Dagon Industrial Zone, […]