Trade balance shows deficit of four billion dollars

Now trade balance has shown a deficit of US$4 billion although it is expected to reach US$1 billion in 2017-2018 FY.

Myanmar’s foreign trade volume reached US$28,613.241 million from April 1 of 2017-2018 FY to February 16, up US$4,046.570 million compared to the same period of the previous year.

Emerging markets on cusp of digital transition


Lowering demand brings down onion prices

A lowering demand has brought down onion prices since the last week, sources say.

The price dropped from Ks1,700 per viss (1.6 kilograms) to Ks1,200 at the Pakokku wholesale market in Magway Region.

Although the supply had fallen, the prices did not seem to recover, said merchants.

“We have no order from border regions, like Myawady, Maungdaw. Most of the buyers come from Yangon and towns nearby,” said Kyaw Than, dealer at Pakokku.

Last month about 40,000 viss of onion had entered the market every day. Now the supply has dropped to 10,000 viss a day.

Govt officials, businesspeople discuss ways to improve ease of doing business ranking

Departmental officials and private businesspeople on February 26 held talks on efforts to improve the Ease of Doing Business Ranking in 2019.

The discussion was held at the office of the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI).

Myanmar faces slow economy as it stands 171st among 190 countries in the ease of doing business ranking. Some foreign investors have reviewed that the slow economy is due to the lack of infrastructure and weak policies.

Digitalisation in SE Asia on Huawei radar


DESPITE a number of challenges, including the lack of ICT infrastructure, digital awareness, and investment, Southeast Asia has drawn the interest of Huawei Technologies Co, according to the ICT giant’s head in the region. 

Amara pledges 4G broadband lifestyle for Myanmar


GIVEN THE HIGHER data consumption in Myanmar, Amara Communications Co, a locally-owned turnkey solution provider with expertise in telecommunications, has been working around the clock to play a critical role in the nation’s digital transformation with the commercial launch of Ananda, its new 4G+ broadband data service.

Over 190 mining sites will expire in March as environmental plans drawn up

YANGON-Licences for over 190 mining sites in Lonekhin, Hpakant, Mohnyin, Mogok, Hkamti, Mongshu and Nantyarseik townships are set to expire in March, according to the Ministry of Resources and Environmental Conservation.
A total 192 licences granted between 2010 and 2015 will expire for sites in Mongshu, Mogok, Lonekhin, Hpakant, Mohnyin and Nantyarseik townships.

Vacant plots in two Yangon-area industrial zones to be leased out

Some of the vacant land plots in Hlaingtharyar Industrial Zone-3 and Shwepyithar Industrial Zone-1 will be leased out to local and foreign investors in dollars, according to the Urban and Housing Development Department.
The department will lease 3.5 acres of land in the Hlaingtharyar zone and 2.5 acres in the Shwepyithar zone.

70% of foreign investment comes through Yangon


Foreign insurance companies to be allowed to enter Myanmar

Foreign insurance companies will be allowed to run in Myanmar under the arrangement of the Insurance Supervisory Committee, said Dr Sandar Oo, managing director of Myanma Insurance, during Myanmar Insurance Summit 2018 held at Sule Shangri-La Hotel in Yangon on February 22.