Business

Five more Yangon water buses to be floated during December

Tint Tint Myanmar Company is planning to add another five waterbuses to run on the Yangon River during December.

The first two waterbuses were brought from Australia and each carry 200 passengers. The remaining three waterbuses were built in Thailand and can each carry 60 passengers, according to Tun Naing Lin, Project Manager of Tint Tint Myanmar Company, said.

Yoma Central and The Peninsula Yangon to be built by construction giants

 

Commerce Ministry to enforce law against border exports of paddy rice

The Commerce Ministry says it will seek ways to control illegal exports of paddy rice via border areas in accord with the law.
 

Shortage of raw materials leads to suspension of paper factories

Around 20 small paper factories have had to suspend their operations due to a shortage of raw materials, according to Kyaw Min, vice-chair of Myanmar Pulp and Paper Industry Association. Prices for raw materials have increased by between 50 and 100 per cent. Due to the suspension of paper factories, workers are facing difficulties. Kyaw Min called on the Vice-President to scrutinise exports of old paper and place a ban on exports at border areas.

Myanmar mulls water transport for domestic freight

 

Plans are being considered to use water transport across the country after the experiences of Yangon Region and other port towns show that moving goods by water is cost-effective, said Yangon Region chief minister Phyo Min Thein.

“Our country is blessed with rivers. But we are weak in using those river routes,” he said. Commodities flow mostly via road transport, he noted.

Nestle to produce half of its products in Yangon

 

Imports of Nestle products to Myanmar would be reduced to 50 per cent next year when the firm’s recently-opened factory in Dagon Seikkan Township of Yangon reaches full production.

HayriDevrimCobek, managing director of Nestle Myanmar, said in an exclusive interview all the Nestle products in Myanmar have been imported from other Asean countries until this year, but its factory plans to produce half of them next year. 

Myanmar tackles food safety in bid to boost agricultural exports

 

MYANMAR plans to improve food safety in a bid to boost agricultural exports and extract more value from a sector that accounts for 38 per cent of the country’s gross domestic product.

Ye Tint Tun, director general of the Department of Agriculture, said exports of agricultural products made up 23 per cent of Myanmar’s export volume, and this share would increase in the years to come.

More tax revenues earned in Kachin State

Tax revenues have doubled in the time of the current government, Wai Lin, Kachin State Minister for Finance, Planning and Economy told the Daily Eleven.
“We can classify two kinds of taxes – taxes collected by the State government and the Union government,” he said. “The State government has to directly manage revenues earned and doesn’t need to send them to the Union government.”
Last fiscal year, the State collected taxes of Ks13.617 billion and spent Ks171.528 billion, whereas the Union government budgetted Ks157.911, he said.

Yangon’s port under study for expansion

 

Feasibility studies have been conducted for extending Yangon jetty to the mouth of the sea to be able to dock large ships, said Yangon’s Chief Minister at a November 12 ceremony during a regular meeting of businessmen and women with Vice President (1) Myint Swe held at the UMFCCI.

CHDB plans to increase loan period for low-cost houses

 
The Construction and Housing Development Bank (CHDB) is planning to increase the loan period for low-cost and affordable housings from 15 to 20 years, said its managing director Myint Myint Mu.
 
The plan excludes high-cost housing because their high-income owners “can pay the cost without delay”, she said.