Myanmar considers direct imports, new infrastructure to lower domestic fuel costs

The Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) and Myanmar Petroleum Trade Association (MPTA) have suggested that Myanmar directly import fuel oil from oil exporting countries in Asia. The move took place during a meeting with U Win Khine, Minister of the Ministry of Electricity and Energy (MOEE) at the UMFCCI […]

Small Used Cars Sell Like Hotcakes in Mandalay

Small used cars with 1.3cc engines and priced at K20 million (US$14,970) are bestsellers in the Mandalay car market amid new government regulations that only brand new left-hand-drive vehicles will be allowed to be imported into the country starting in 2018. Car dealers in Mandalay said that when the new government vehicle import regulations were released […]

Cost of petrol up on the back of rising oil prices

Local petrol prices have spiked between K35 and K40 per liter in the past two months, boosted by a rise in global crude oil prices. On November 15, local petrol prices reached a high of K815 per liter of 95Ron and K775 per liter of 92Ron. Meanwhile, prices hit K785 per liter of 10ppm diesel […]

Need to reduce consumption rises as fuel imports surge

As fuel can be imported freely from overseas, the volume and value of fuel imports into Myanmar is expected to rise this year compared to last year, U Khin Maung Lwin, Assistant Secretary from the Ministry of Commerce, told The Myanmar Times. “Gasoline has been allowed to be imported regularly into Myanmar. As the private […]

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 […]