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Government Orders Cut in Teak Production, Bans Private Timber Operations

YANGON — The government has ordered timber production be reduced by 40 percent in the 2017-18 fiscal year, while banning private timber operations altogether, according to the Naypyitaw Forestry Department. The department will oversee the production of only 15,000 tons of teak and 350,000 tons of hardwood from forests across the country. According to the […]

Tourism companies still accepting USD

Tourism-related companies say they are still accepting US dollar cash payments as normal, despite a Central Bank decision to revoke foreign currency acceptor and holder licences last week. The Central Bank statement, published on October 13, recalled foreign exchange licences held by all companies except banks and money changers – including airlines, hotels and tour […]

Slow liftoff for helicopter association as market grows

The Myanmar Helicopter Association was launched last week at the Heliops Myanmar Conference and Exhibition in Yangon, with a view to developing helicopter operations across the country. The newly formed association will be led by U Tin Aye, who aims to take on negotiatons between international companies and the Myanmar government to facilitate development of […]