Myanmar

Businesses urge Myanmar to ease border trade rules 0

MyanmarSource: Mizzima

Thai businessmen have called on the Myanmar government to relax border control rules affecting trade with Thailand.

They were referring to the export of Thai products through Ban Pu Nam Ron temporary checkpoint in Kanchanaburi via the Htee Ki border checkpoint in Myanmar’s Tanintharyi Division. More…

China boosts tin ore imports from Myanmar as Indonesian supply dries up 0

Tin mine in IndonesiaSource: Reuters

China’s tin industry is turning to Myanmar to help plug a gap in the supply of raw materials after new trading rules in the world’s top exporter Indonesia squeezed its major source of refined tin.

China, the world’s top metals consumer, has more than doubled its imports of tin ore and concentrates from Myanmar this year, shoring up an alternative source of the metal used mainly for solder in its vast electronics industry. More…

Myanmar receives over 730 mln USD’s foreign investment in single month 0

topimg_22137_myanmar_600x400Source: Mizzima

Myanmar received 731 million U.S. dollars’ contracted foreign investment in a single month of August, bringing the total to over 43 billion dollars as of the end of the month since 1988, local media reported Sunday.

The investment, which came from six countries and regions, was mostly injected in the manufacturing, making it the largest foreign-invested sector in 2013. More…

Myanmar’s poverty to be reduced down to 16 % in 2014-2015 0

Yangon, MyanmarSource: Eleven Myanmar

Myanmar will make changes in order to reduce its poverty level by half to 16 per cent in 2014-2015, according to a joint forum held by Myanmar and Korea.

According to the UN Economic and Social Commission for Asia and the Pacific (UN-ESCAP) data, the poverty rate was 32 percent before 2010. In 2011, it declined to 26 percent. More…

Thai company shelves Kampot cement project 0

Cement CambodiaSource: The Phnom Penh Post

Thailand’s second-largest cement company has suspended a cement-plant project valued at about $200 million in Kampot province because of political uncertainty and better investment opportunities in Myanmar, according to a senior executive.

Philippe Arto, the managing director of Siam City Cement Public Company Limited (SCCC), said on Wednesday that the board of the exchange-listed firm decided to “put on the shelf” the plant, which was expected to produce between one million and 1.5 million tonnes of cement a year to feed the growing demand in Cambodia’s construction sector. More…

Facing challenges, Burma seeks extractive sector transparency by 2016 0

An aerial view of the Letpadaung copper mine project near Monywa in Sagaing DivisionSource: The Irrawaddy

Resource-rich Burma has completed two of four steps in its bid to apply for Extractive Industries Transparency Initiative candidature, but the murky legal environment in which civil society groups exist is posing challenges as the government strives to meet the third requirement. More…

Japan’s development loan to be spent on infrastructure and economic zone 0

Myanmar construction siteSource: Eleven Myanmar

Japan will lend over US$ 900 million for development projects this fiscal year to be spent on renovation and basic infrastructure in Yangon, as well as the Thilawa Special Economic Zone, according to an official from Japan International Cooperation Agency (JICA). More…

Japan's development loan to be spent on infrastructure and economic zone 0

Myanmar construction siteSource: Eleven Myanmar

Japan will lend over US$ 900 million for development projects this fiscal year to be spent on renovation and basic infrastructure in Yangon, as well as the Thilawa Special Economic Zone, according to an official from Japan International Cooperation Agency (JICA). More…

Myanmar committee to look into establishing capital market 0

Myanmar kyatSource: Eleven Myanmar

A committee to look into establishing a capital market in Myanamr will be set up this year according to officials from the Ministry of Finance.

Myanmar has recently opened up its economy to foreign investment as the country began a transition from military dictatorship to civilian government in 2011. It is now seeking to establish a capital market with the help of Japan’s Daiwa Institute of Research. More…

Myanmar’s garment industry receives growing foreign investment 0

A garment factory in Hlaingthayar TownshipSource: Eleven Myanmar

Myanmar’s garment industry has received the most foreign investment over the last six months according to recent data from the Myanmar Investment Commission (MIC).

Along with the rise of foreign investments, the employment rate in the industry has also increased.
“MIC has noticed that the garment sector received most of foreign investments in the last six months. Another sector which enjoyed growth during the period was manufacturing,” said Khine Khine Nwe, a n MIC member at a recent forum organised by Myanmar Garment Manufacturers Association (MGMA). More…

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