Myanmar to Discuss Rice Exports With Sri Lanka

​​ Sri Lanka has expressed interest in a formal arrangement to import 50,000 tonnes of rice from Myanmar, according to Ministry of Commerce assistant secretary U Khin Maung Lwin. The Sri Lankan ambassador to Myanmar, KWND Karunaratne, made the offer on January 23 during a visit to the Union Minister for Commerce U Than Myint, […]

Trade Deficit Narrows as Imports Slump and Exports Rise $500m

​​ The overall value of trade between My­anmar and foreign countries fell by more than $330 million be­tween April 1st and De­cember 30th last year compared to the same pe­riod the year before, with a decline in imports off­setting a $509 million rise in exports. Ministry of Commerce figures show exports reached $8.2 billion, up […]

Affordable Housing Projects Affected as Funds Dry Up

​​ In a serious blow to thousands of would-be home-owners, the construction of affordable homes in Yangon’s Ayeyarwon and Yadanar housing projects has been suspended because the money has run out, government officials say. Urban and Housing Development department director general U Min Htein told The Myanmar Times on December 6 that the government lacked the funds to […]

Thousands of car imports approved

A new government-led supervisory committee has released around 14,000 cars that had been held at Myanmar’s borders after an informal ban on vehicle imports was imposed last December. When the last vehicle import supervisory committee was disbanded at the end of last year, thousands of cars bound for Myanmar were held up, commerce minister U […]

Commerce minister to boost trade and target smuggling

The Union Minister for Commerce aims to triple the value of trade within his five-year term and will focus on promoting exports to help reduce the country’s widening trade deficit, as well as tackling smuggling networks to formalise illegal trade. U Than Myint made the comments during a meeting with traders in Yangon, in which […]

Myanmar citizens disregard wealth as a main source of happiness

The World Happiness Report 2016 reported Myanmar as one of the least happy countries the planet in March, ranking The Golden Land 119th out of 156 countries – but some in Myanmar have taken issue with the parameters. The report measures happiness using metrics such as GDP per capita, perceived freedom to make life choices, government corruption […]

Who’s who: Myanmar’s new cabinet

Take a look inside the National League for Democracy’s new proposed government with insider profiles of the party’s 18 candidates for ministerial posts: Daw Aung San Suu Kyi (foreign affairs; president’s office; education; energy and electric power) The National League for Democracy leader needs little introduction. Has vowed to rule “above the president”, and with […]

Printers call for access to finance

Cash-starved printers are calling for government support in their efforts to expand their business in what could be profitable times. The chief complaint in the printing world is that they cannot borrow money from banks amid increasing competition from foreign businesses. Fujiyama Press spokesperson U Than Myint said his company lacked large presses, but could […]

Three Companies Submit Myo Thit Bids

Three companies have submitted tender bids to construct the Yangon New City (Yangon Myo Thit) Project, according to Ministry of National Planning and Economic Development of the Yangon regional government. “Initially there were fifty companies which bought the tender application forms, but only three companies successfully submitted the application. The tender evaluation committee will handle […]

Fresh opposition for relaunched ‘new city’

A controversial Yangon expansion plan is again being picked apart in parliament for a lack of transparency over who will build it. The government invited tenders in July for what was proposed as one of seven satellite cities in a temporarily suspended plan that was revamped and approved in June. More than 50 companies signalled […]