India begins processing free visas for Myanmar pilgrims to Bodh Gaya

Myanmar residents travelling to India could officially apply for visa-free travel at the embassy of India in Yangon starting on September 25, Bodh Gaya pilgrimage travel operators said. The move comes after Indian Prime Minister Narendra Modi announced the granting of free visas to all Myanmar citizens when he visited Myanmar on September 6. Two […]

Shan businesses press for Mandalay-Muse route revamp

THE business community in northern Shan State urged the government to take measures concerning trade promotion and economic development, which includes upgrading the Mandalay-Muse highway, at a meeting with Vice President U Myint Swe. The Mandalay-Muse highway is the main route for the country’s border trade, according to the Hong Kong Trade Development Council. A […]

New marine breeding zones in Twante, Yangon to accelerate GDP growth

The plan will be implemented in the Twante and Yangon areas, he said at the meeting with the vice president and businesses. “The current government is very much interested in the fisheries sector. The sector can contribute immediate benefits for faster GDP growth. So, negotiations are underway to implement a special fisheries project in Twante […]

Transport and energy access barriers to Myeik industrialisation

The city in Tanintharyi Region amounts to far more than the gateway to over 800 islands of the archipelago. Access to energy and transport infrastructure remain the biggest barrier for industrialisation to take off in the city and its hinterland. The latest Colliers International report stated that Myeik has made great strides over the past […]

Next change for new-look MIC? Independence

The Myanmar Investment Commission is to be made independent of the Ministry of National Planning and Economic Development in the near future, the body’s new secretary told The Myanmar Times last week following a reshuffle that saw it expand from 11 to 13 members. “The MIC will become independent like the Central Bank. But we […]

Exchange rate fluctuation smooth as USD falters

Moderate depreciation of the US dollar against Asian currencies over the past three months has resulted in marked improvements for the kyat, which has appreciated as much as 2.42 percent against the greenback since mid-February. According to official exchange rates in Yangon, the value of the kyat against the dollar has grown from K988 on […]

Electricity issues to threaten big industry

With another summer approaching, Yangon industrial estates are again facing the prospect of massive power outages that owners expect will cost industrialists hundreds of thousands of dollars in profit, while hurting the commercial capital’s efforts to bolster an investor-friendly reputation. In the summer months of March to May 2013, factories had as little as three […]