Garment Exports Double Spurred by Rising Orders From Europe

​​ Myanmar garment exports have doubled in 2016 compared to export values of the previous year, according to the Ministry of Commerce. Rising orders from European countries have caused the surge in garment exports, said U Win Myint, Director of Ministry of Commerce. As of December 15th, garment exports reached $1.05 billion, up from $460 […]

Government Plans Monthly Meetings to Respond to Business Leaders

​​ RANGOON — Government leaders are planning to meet monthly with the local business community to listen to current problems and find solutions, Vice President U Myint Swe and National Planning and Finance Minister U Kyaw Win pledged last week. The first monthly meeting received a positive response. The vice president and finance minister met […]

Hotel must report on list of foreign guests to authorities

Hotels and guest houses must compile a list of foreign guests to send to the authorities of township administration, the Ministry of Immigration and Population, according to deputy township officer U Win Myint of the Mandalay region Immigration department. Action will be taken against the hotel managers if they do not report on the foreigner […]

Chinese top list of those who faced deportation due to visa rules violations

Among those who faced deportation due to violation of visa rules in Mandalay Region, Chinese citizens are the most numerous, according to Immigration Department officials in Mandalay Region. Action is being taken against those who fail to follow the country’s existing laws as well as culture- related rules and regulations, said U Win Myint, deputy […]

MCB hits upper limit on first day as YSX-listed firm

Trading on the Yangon Stock Exchange has tailed off in recent months, but Myanmar Citizens Bank’s (MCB) listing late last weekshowed there remains huge appetite for new sources of investment. Demand for shares in the lender – the first bank to list on the country’s new bourse – was around 10 times the volume offered. MCB […]

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 […]

Chinese firm to restart Myanmar’s only coal plant

China’s Wuxi Huagaung Electric Power Engineering is upgrading the entire Tigyit plant in southern Shan State near to the famous Inle Lake, which has been out of use for several years. Local authorities held a public meeting in a village near to the site on April 24 to explain the company’s environmental and social impact […]

Myanmar records trade deficit for four years in succession

A TRADE deficit has been reported in Myanmar for four years in succession as the value of exports fell more than the value of imports, according to an official from the Ministry of Commerce. The country remains locked into a trade deficit this fiscal year, said Director U Win Myint of the ministry. Myanmar has […]

Myanmar can potentially grow at 8%: WB

India may not be the only growth story in the midst of a global economic slowdown. According to the World Bank, Myanmar’s economy has the potential to grow rapidly, up to around 8 per cent per year in real terms over the next 5 years. With the right policy choices, a growing economy can provide […]

Low-cost apartments in Yangon’s Yuzana Housing to go on sale

  Apartments in a major low-cost housing development in Yangon’s Dagon Seikkan township will be sold to the public in the last week of March, with some units to be rented at subsidised prices, an official said yesterday. Yuzana Housing project is being developed by the Department of Urban and Housing Development (DUHD) near to […]