Myanmar aims to become Asian maritime hub

Development of shipping industry, ports to be in focus to integrate with global economy As Asean countries prioritise on improving connectivity within and beyond the region, Myanmar has planned to take advantage of its strategic location between the two mostpopulated nations – China and India – to become a hub of maritime trade in Asia, […]

Trade on the rise, more FDI needed: U Ye Min Aung UMFCCI VP

U Ye Min Aung, vice president of the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry, told the Global New Light of Myanmar his views on Myanmar’s economy in an exclusive interview. Q: Please tell us about the current economic situation in Myanmar? A: At the present period, global economy […]

Invitation to submit Proposals for construction of warehouse, and dry ports at Yangon Ports to be submitted to MIC

Subscribe to our tender alert mailing list In at meeting between the public sector led by Vice President U Myint Swe and the private sector  held on 15th June at UMFCCI. It was announced that companies who wish to construct bonded warehouses and dry ports at Yangon ports can now submit proposals to Myanmar Investment […]

Vendor Managed Inventory Scheme to begin in Thilawa SEZ

“Vendor Managed Inventory” (VMI) scheme will begin its operation in Thilawa Special Economic Zone (Thilawa SEZ), allowing alternative method for non-resident foreign companies to distribute their products into Myanmar. Such instruction about the new scheme was issued by Thilawa SEZ Management Committee on 7th October 2016. Warehouse operators in Thilawa SEZ will be required to […]

Easing of US sanctions on Myanmar to boost trade and investment

THE US Treasury’s tweaking of its Myanmar sanctions this week will boost trade and investment in the Southeast Asian country, and signals support for the mandate of the new civilian government led by Aung San Suu Kyi, writes Eric Yep. Entities close to the former military junta are still under sanction. But at the same […]

Dredging makes for easier access to Yangon Port

MORE container ships can enter and exit Yangon port starting from this month after dredging near the port’s inner bar known as Monkey Point has been completed, said an official from the Myanma Port Authority. The dredging project was jointly conducted by Starhigh Asia Pacific Pte Ltd and the Myanma Port Authority from 30 March […]

Illegal timber trade from Myanmar grows

THE London-based Environmental Investigation Agency says it is calling on both governments to stop the trade worth hundreds of millions of dollars a year that is reducing Myanmar’s forests and supplies China’s wood-processing industry, which makes furniture for domestic and international markets. The non-governmental organisation said Chinese businesses acquire the rights to illegally log mountains, […]

Singapore Firm Finishes Yangon River Dredging Project

Singapore-based Starhigh Asia Pacific Pte Ltd has finished dredging the river near Yangon Port, a project that is expected to improve navigability for ships and reduce traffic congestion near the port. Starhigh partnered with the Myanmar Port Authority (MPA) to dredge the area near the port’s inner bar known as Monkey Point. The project kicked […]

Ship cleared to leave Yangon port after collision

As the investigation into the collision of two ships in Yangon River on April 26 proceeds, the container ship involved was allowed to leave Yangon Port, said a Shipping Agency Department spokesperson. U Aung Myo Tin said the container Panja Bhum, carrying 525 containers of beans, garments and other goods, had been cleared to depart […]

Seven jetty bridges to be built in Yangon Port for international ships

Yangon Port currently will build seven more jetty bridges for the convenience of international ships, in addition to the seven already under construction. In fiscal year 2003-04, only 917 international ships were able to dock at Yangon Port but in fiscal 2013-14, the number rose sharply to 2,334. There is an urgent need for more […]