EU’s withdrawal of GSP not to affect foreign investment flow in Myanmar: official

YANGON, Oct. 28 (Xinhua) — The European Union (EU)’s probable withdrawal of its Generalized Scheme of Preference (GSP) will not impact the foreign investment flow in Myanmar, the official Global New Light of Myanmar quoted an investment administration official as saying Sunday. This will be due to the fact that EU countries have never been […]

Myanmar launches new companies law to adapt to current age

YANGON, Aug. 1 (Xinhua) — Myanmar has instituted a new companies law after amendment of its outdated Companies Act-1914 to adapt to the current age, registering an important milestone with its measures of promoting foreign investment. The new Myanmar Companies Law-2017 comes into effect from Wednesday, enabling a company’s registration process to be done electronically […]

Number of days for tourist visits to Bagan cut

The number of days that tourists can spend in Bagan’s ancient cultural zone has been reduced from five to three starting this month, said U Kyaw Lwin Oo, director general of the Department of Archaeology and National Museums, on Sunday. “We feel the new number of the days is enough for a trip. Three days […]

Myanmar region woos French FDI

Myanmar’s underdeveloped Tanintharyi region bordering Kanchanaburi province plans to attract European investment mainly from French companies in the months to come, according to Phyo Win Tun, planning and finance minister of the Tanintharyi region government. “At the regional government, we frequently receive business delegations from Europe, including France, Italy, Czech as well as from other […]

No approvals required for commercial livestock farming investments below $5M

Only capital investments in commercial livestock farming exceeding $5 million or K6 billion will require approval from the Ministry of Agriculture, Livestock and Irrigation, according to the Myanmar Investment Commission on Wednesday. Investments in commercial livestock farming below $5 million will no longer require government approval. Investments in livestock and fisheries, which include those in […]

Government Commits to Long Term Aquaculture Development; Starts Dialogue on Issues

Myanmar has taken its first major step towards developing a sustainable aquaculture industry that will meet domestic dietary needs and support the country’s fishery exports business at a time when wild fish stocks are declining rapidly. “The fisheries sector is one of the most important for our ministry, contributing to the protein needs of our […]

Myanmar Watermelon Nabs China’s Off-Season Market Share

China’s domestic watermelon season ends in October—except for in Hainan where a small quantity of watermelon is being grown. Watermelons from Myanmar, however, are just coming into season. Myanmar’s watermelon is an off-season fruit that usually lists from November to May of next year. At present, Myanmar’s watermelon has taken over 80% of China’s off-season […]

Border trade down by $165 million

The value of border trade from 1st April to 25 August this fiscal year was down by US$165 million when compared to that in the same point of last fiscal year. Border trade from 1st April to 25 August this fiscal year hit $2.77 billion — $1.65 billion in exports and $1.12 billion in imports, […]

Timber group replaces sub-contractors with service providers

This comes after it previously said no more sub-contracts would be issued. It announced that the decision to hire service providers was due to the MTE’s capacity limits. Experts have questioned the differences between sub-contractors and service providers and argued that transparency is essential in any reformed processes. Last year, the MTE announced that it […]

Timber industry faces challenges in the voluntary partnership agreement process in forest governance

“The government has concerns and the fact that is does not have the trust of multiple stakeholders is a challenge for the process. “Every change implies sacrificing the interests of certain people, or things, for a certain time but it will be a benefit in the long run, resulting in a sustainable enterprise,” he said. […]