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 […]

Myanmar Bans Foreign Fishing Boats From Its Waters

YANGON — Myanmar has banned foreign fishing vessels from its waters as of the beginning of April amid concerns about overfishing, an official from the Myanmar Fishery Federation (MFF) said. “Fish and other marine resources in our waters were declining. So [Myanmar] banned foreign fishing boats from fishing in our waters to prevent that,” said […]

Yangon Switches On

YANGON — On the industrial outskirts of Yangon, a rusted chimney exhales wisps of white smoke as a three-decade-old gas-fired power station chunters on. Just meters away on the same compound in Thaketa Township, a low mumble, but nothing in the way of visible emissions, is coming from a row of 16 boxed-up gas-fueled engines—Austrian-produced […]

Electricity Rate Hike Could Hurt Competitiveness, Raise Consumer Prices

YANGON — Last week, Parliament approved a government proposal to introduce a long-expected hike in electricity prices per April 1. Business sector representatives now warn that the measures will undercut the competiveness of Burmese industries and lead to a rise consumer prices. Under the new plan, for households using under 100 kilowatt hours, or units, […]

Burma seeks minimum wage amidst labour shortage

As foreign investors in the garment sector trickle into Myanmar/Burma, local research companies and the International Labour Organization (ILO) are undertaking a study that could prompt the country’s parliament to pass a minimum wage law by December this year. The study, for which one local participant is the Myanmar Marketing and Research Development Co (MMRD), […]