Anti-Graft Commission, UMFCCI sign Joint Anti-Corruption Declaration

Corruption has adverse impacts on economic and administrative sectors, said Aung Kyi, Chair of the Anti-Corruption Commission, at a ceremony to sign the Joint Anti-Corruption Declaration between Union of Myanmar Federation of Chambers of Commerce and Industry and the commission on July 2 in Yangon. “It is known to all that corruption is interrelated with […]

Corruption Prevention Units to be formed in government departments

The Anti-Corruption Commission is planning to form Corruption Prevention Units (CPU) in government departments to prevent corruption, said U Aung Kyi, Chairman of the Anti-Corruption Commission at the Anti-Corruption Declaration Ceremony, held at the UMFCCI office yesterday. The commission will conduct three activities to prevent corruption: the forming of CPUs, drawing up codes of conduct […]

Myanmar to showcase investment projects, reforms in Hong Kong’s Belt and Road forum

The newly-appointed chair of Myanmar Investment Commission (MIC) U Thaung Tun, who is also Union Minister at the Office of the Union Government, is going to lead a delegation to the third annual Belt and Road Summit in Hong Kong this week. Demonstrated by the major economic reforms we have implemented over the past year, […]

Myanmar to upgrade 3 local airports to receive Chinese tourists

Some local airports will be upgraded to international-standard airports as a part of a slew of projects under China’s Belt and Road (B&R) initiative, according to U Kyaw Win, Union Minister for Planning and Finance. Backed by rising incomes, some 13 million Chinese are travelling abroad yearly but less than half a million came to […]

Yangon mulls construction of sea port at river

Plans to build an international sea port at the mouth of the Yangon River, which will be strategic for Myanmar and its neighbours, are underway, Yangon Chief Minister U Phyo Min Thein said yesterday at the meeting with Vice President held at Republic of Myanmar Federation of Chamber of Commerce and Industries (UMFCCI). “Singapore has […]

Yangon government plans to buy, store fuel in attempt to control prices

As domestic fuel prices are expected to rise faster than global prices, the government will hedge against price volatility by buying and storing petrol onshore as demand rises during the coming fiscal year, said Yangon Chief Minister U Phyo Min Thein. Fuel, gasoline and diesel are vital for facilitating the flow of trade in Myanmar. […]

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 […]

Govt Sticks to Courageous Target as Myanmar Slips Down in World Bank’s Doing Business Rankings

Myanmar is in fact slipping further away from the govt’s target of reaching top 100 in the Doing Business index by 2020. It remains to be seen how Nay Pyi Taw could deliver this commitment. DESPITE the fact that Myanmar has fallen one place last year in the World Bank’s Doing Business rankings, Nay Pyi […]

Government Reaffirms Commitment to Labour Market Reforms

Representatives of the Myanmar government, employers, workers, civil society and international partners on Wednesday gathered for the third time since 2015 in a forum to discuss the progress and challenges faced in an ongoing effort to implement labour market reforms. Taking place in Nay Pyi Taw, the forum was held as part of the ‘Initiative […]