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 […]

Myanmar Takes Small Steps Towards Providing Greater Liquidity for SMEs

A rising number of start-ups as well as small and medium enterprises (SMEs) are emerging in Myanmar as business opportunities rise. However, many companies fail to achieve their full potential and contribute substantially to the economy because capital assistance is lacking in the country. In Myanmar, banks require collateral in the form of property before […]

Myanmar Allows Import of U.S. Corn

Myanmar imposed new pest risk analysis requirements for imported plant-related commodities, including U.S. corn, on Jan. 1, 2017. Under the new directive, the Myanmar Plant Protection Division (PPD) prohibited the import of plant and plant-related products unless the exporting country provided this new information, which includes how the country deals with pest outbreaks and is […]

The role of AustCham Myanmar in the Myanmar economy

Australia is proving an important and growing trading and investment partner for Myanmar. The bilateral trade between Australia and Myanmar reached US$144 million in 2016, according to Myanmar’s Ministry of Commerce. Ms. Jodi Weedon is CEO of the AustCham Myanmar (Australia-Myanmar Chamber of Commerce), which was set up in March 2013. In a recent interview […]

Yangon’s Port Under Study for Expansion

Feasibility studies have been conducted for extending Yangon jetty to the mouth of the sea to be able to dock large ships, said Yangon’s Chief Minister at a November 12 ceremony during a regular meeting of businessmen and women with Vice President (1) Myint Swe held at the UMFCCI. “These ports were built in the […]