Business

Thai trade exceeds $318m

Border trade with Thailand exceeds US$3

Bean prices fall

The prices of beans have fallen in a month with mung beans now costing Ks930,000 per tonne, according to the 

Myanmar rice in high demand from foreign and domestic markets

The Myanmar Rice Federation says the country is struggling to meet demands for rice amid increased demand for rice from foreign buyers, while domestic demand for rice is also currently high.

This year, Sri Lanka has made an offer to buy 500,000 tonnes of rice from Myanmar, and the federation says a memorandum of understanding for the export of the rice is now being processed.

Vegetable prices soar after flooding in Monywa

 

Vegetable prices have risen in Monywa Township, Sagaing Region, as flooding has hit vegetable plantations since early June, according vegetable growers.

The increase in vegetable prices comes after the water level of Chindwin River rose.

Foreign firms have invested over $1bn in Thilawa SEZ

Foreign businesses invested more than US$1.075 billion in the Thilawa Special Economic Zone between November 2014 and June 2017, with over $773 million, or 71 per cent, in industrial the industrial sector, according to the Directorate of Investment and Companies Administration.
Among the remainder of the foreign investment, $101.2 million went to the commodity trading sector, $81.2 million to the service sector, $77.250 million to the transport and supply sector, $30 million to the housing development sector, and $12 million to the hotel industry.

Singapore to invest $316m in housing

The Myanmar Investment Commission (MIC) has allowed two Singapore companies to invest over US$316 million in two Yangon housing projects, according to the Directorate of Investment and Companies Administration (DICA).

“A Singapore company will invest US$35 million in a housing project and another firm will invest US$280 million in a separate project,” said an official from the DICA.

The MIC also allowed two housing projects developed by two domestic companies.

Rice trade policy in the pipeline: MRF

The Myanmar Rice Federation (MRF) says it is making efforts to ensure the emergence of a rice trade policy during this financial year.

Ye Min Aung, the general secretary of the MRF, said: “Since 2014-15, our federation has submitted a draft rice trade policy on retail and wholesale of rice, export and storage.

Sri Lanka signs rice deal

Myanmar plans to export 0.2 million tonnes of parboiled rice and 0.3 million tonnes of white rice to Sri Lanka under a memorandum of understanding this year, according to Myanmar Rice Federation (MRF).

The National Food Authority of the Philippines has invited a bid for the contract to buy about 50,000 tonnes of rice, according to the Commerce Ministry.

Govt seeks economic ideas

The government has invited suggestions from businesses about ways to develop the economy in 12 months, according to the Federation of Chambers of Commerce and Industry (UMFCCI).

The UMFCCI and representatives from its sister associations held a meeting in Yangon discussing suggestions from businesses about ways to regain momentum in economic growth. They were given until July 27 to compile their suggestions.

CHDB announces list of successful applicants to buy apartments

The Construction and Housing Development Bank (CHDB) has announced the list of successful applicants who can qualify for a loan to buy low cost apartments in Yangon region and Nay Pyi Taw, according to the Ministry of Construction.