Incentives needed to legalise business, says DICA chief

According to the Directorate of Investment and Company Administration (DICA), around 71,000 companies have officially registered since 1988 when Myanmar amended its investment laws. This number is lower than the official figures in other ASEAN nations. However, DICA’s director general U Aung Naing Oo stressed that the real number of companies in Myanmar is much […]

Mifan not Htamin: Rice Bags Must be Printed in Chinese

Legal exports of rice to China must include rice bags printed in Chinese language, according to an official from the Myanmar Rice Federation (MRF). The export of rice occurs mainly through the Muse border, where legal exports have recently started, but most rice passes through unsanctioned and illegal trade routes. According to the an agreement […]

Criticism dogs Myanmar Rice Federation’s China choices

The Myanmar Rice Federation’s choice of companies that will be registered for legal exports to China is receiving criticism from small-scale players as well as large businesses. Some of the country’s largest exporters were left off last month’s list of nine companies that would be permitted to handle the rice trade, while several of the […]

Myanmar to Pour Rice into China Slowly

The Myanmar Rice Federation (MRF) and China’s state-run agri business company COFCO Ltd signed a memorandum of understanding to export up to 100,000 tonnes of rice to China in accordance with market prices at the time of shipment, said an official from MRF. The agreement aims to prevent losses from both sides, as Myanmar cannot […]

New JV to Set Up $5-m Rice Mill in The Delta

Myanmar Rice Mill Company (MRMC), a joint venture company set up by Beijing-based China CAMC Engineering and Myanmar Millers Association, is going to launch a project to build an international standard rice mill in Myanmar’s delta region this year. The new mill is planned to be built on 7 acres of land in Sarr Ma […]

ADB tackles a banking barrier to trade

The Asian Development Bank (ADB) moved to ease international business money transfers from Myanmar by guaranteeing Letter of Credit transfers from CB Bank, CB managing director U Pe Myint said. A Letter of Credit from a bank guarantees the seller will receive a payment from the buyer on time, with the bank responsible if the […]

Businesses worry red tape will remain an obstacle despite reforms

Cutting red tape in line with regional standards is going to be an uphill struggle for many government departments, experts said, as the government has instructed its ministries to simplify bureaucratic procedures to meet ASEAN standards by the end of March. U Tin Maung Than, director and senior research fellow of Myanmar Development Resource Institute […]

Myanmar Rice firms wary of Ministry plans to open up market

“We can’t compete with foreign companies,” said Myanmar Rice Federation’s central executive committee member U Soe Win. “This is not the right time to give them permission to enter the wholesale market. We are just starting to do business openly. Why let them in at this moment?” His comments follow reports that the ministry’s directorate […]