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Tour operators, timber company see bright future for elephant tourism

The government-run Myanma Timber Enterprise had earned about K430 million (US$325,535) since it began operating 18 elephant conservation-based tourism camps around the country two years ago. The government has banned timber extraction for a period of one year for the whole country and for 10 years in Bago Yoma Hills in central Myanmar, effective from […]

Experts urge soil tests to help buildings survive earthquake

Geology and construction experts are urging building companies to conduct soil tests before erecting buildings to ensure safety amid increasing earthquakes. Government data show that over 60 earthquakes struck Myanmar in 2017 and about 40 the year before. U Saw Htwe Zaw, vice chairman of the Myanmar Earthquake Committee (MEC), said that under the country’s […]

Angkor-Bagan direct air-link will start in April 2018

STATE-owned Myanmar National Airlines will operate a direct air-link between Angkor Wat and Bagan as the part of the Cambodia-Myanmar “two countries, one destination” campaign to be implemented in April 2018. U Thet Lwin Toh, chairman of Union of Myanmar Travel Association, said last week that discussions are still in progress to launch the service. […]

Myanmar to Get Better Profit-Sharing Deal in Rakhine Port Project

Myanmar is set to receive a greater amount of the profit-sharing in a $7.2 billion deep-sea port development project in the town of Kyaukphyu in western Rakhine state, though negotiations with the main Chinese investor are ongoing, a commerce ministry official said Monday. A consortium led by CITIC Group Corporation Ltd., China’s state-owned investment company, […]

HK Chief Executive Carrie Lam wants more trade with Myanmar

Hong Kong (HKSAR)-The Chief Executive, Mrs Carrie Lam, continued her visit to Myanmar in Yangon today (September 16). Mrs Lam attended the 14th World Chinese Entrepreneurs Convention (WCEC) in the morning. Themed “Setting up Historical Milestones through the Economic Reform of Myanmar”, the WCEC was attended by some 2 000 leading Chinese entrepreneurs from around […]

Questions Raised About $300 Million Downtown Development Project

YANGON — Land clearing and demolition for a project worth more than US$300 million on the former site of a Defense Services Museum, near Shwedagon Pagoda, has prompted a lawmaker to inquire about the initiative in the upcoming parliamentary session. U Kyaw Zay Ya, a Yangon regional lawmaker representing Dagon Township—where the site is located—told […]

Migrant worker agencies to be graded on adherence to labour standards

A committee will be formed to prevent abuses by and protect migrant workers against unscrupulous overseas employment agencies, according to the Myanmar Overseas Employment Agencies Federation. Committee members will include a representative from the Ministry of Labour, Immigration and Population, an anti-trafficking police officer, a legal expert, a labour expert, a representative from overseas employment […]

Government will provide loans in 2017 to develop the SMEs

Japan International Cooperation Agency (JICA) will provide Ks 15 billion loan through the government to develop small and medium enterprises (SMEs) in 2017, according to Directorate of Industrial Supervision and Inspection Department under the Ministry of Industry. JICA will provide the loan with the low interest. The loan will be in the form of two- […]

2014 Tourism Receipts Expected to Top $1 Billion

Myanmar’s tourism industry is expected to earn more than $1 billion this year, said U Thet Naign Toe, vice chairman of the Union of Myanmar Travel Association (UMTA). In 2012 and 2013, income from tourism receipts were $534 million and $926 million respectively, according to statistics published by the Ministry of Hotel and Tourism. Between […]

Myanmar trade deficit rises

YANGON – Myanmar’s quarterly trade deficit reached over US$1.4 billion (45.5 billion baht), as the economy continues to open up to foreign investment, the government said Wednesday. The value of exports — including oil, gas and timber — during April-June was more than $2.2 billion, but $3.6 billion was spent on imports, the Central Statistical […]