Myanmar rice export hits record high in 60 years

Myanmar's rice export this financial year has reached a record high in over 60 years, said Sai Kyaw, central executive committee member of Myanmar Rice Federation.

Currently, Myanmar exports rice to more than 50 countries and nearly 3 million tons have been exported this fiscal year. In the previous years, a maximum of 1.8 million tons of rice were exported.

Myanmar plans to loan nearly 15 billion yen from JICA for SME development

Myanmar will loan 14.949 billion yen from Japan International Cooperation Agency for the small and medium enterprise development project (phase 2), and each entrepreneur can loan up to K50 million, said Deputy Minister for Planning and Finance Maung Maung Win.

The deputy minister submitted the loan matter to a session of union parliament held in Nay Pyi Taw on February 13.

He said for the project (phase 1), 5.033 billion yen (about K61.654 billion) was borrowed from JICA. He added that additional loans were necessary to finically help Myanmar's over 60,000 SMEs.

China continues to lead FDI list


China continues to stand first on the list of foreign direct investments (FDI) in Myanmar, said Kyaw Tint Swe, Union Minister for the State Counsellor’s Office at a reception to mark the Chinese New Year at the dwelling of the Chinese ambassador to Myanmar on February 10. 

Myanmar hoped that China would provide constructive assistance to Myanmar. Bilateral trade and economic cooperation between the two countries had developed, he said. 

Gas production rates of Yedagon and Zawtika projects already decline

YANGON- Production rates of the Yedagon and Zawtika projects, which mainly export natural gas to Thailand, are falling, according to the Ministry of Electricity and Energy.
The Yedagon gas project is currently exporting 200 million cubic feet (mmcf) daily to Thailand, while the Zawtika gas project is exporting 200mmcf abroad and also produces 100mmcf for domestic use.
The figures represent a drop from last year’s production levels.

Yangon to get three fish-farming zones

The Fisheries Department will establish three livestock breeding zones for the production of international-standard marine products in three townships in Yangon in 2018-2019 fiscal year, said a department official.
The department is working to develop livestock industries in Kayan, Thonegwa and Kwanchangone townships, said Tun Win Myint, director of the Fisheries Department. Some 10,000 acres of land will be developed.

Foreign investments to be invited for the upgrade of jetties

Foreign investments will be sought to upgrade jetties along the coast into international-standard ports as additional capacity is needed to supplement the Yangon port, which now handles 90 per cent of sea-based goods transport.

Total citizen investments hit over 3.37tn kyat

As of the first week of February this fiscal year, the total investments made by Myanmar citizens had reached over 3.372 trillion kyat, including 95 citizen investments totalling over 3.07 trillion kyat, according to the Myanmar Investment Commission.

International community eyes investing in industrial zones in Yangon

The international community has shown interest in establishing industrial zones in Yangon Region, according to the Directorate of Investment and Company Administration (DICA).

"A lot of foreign investors want to set up industrial parks," said Than Aung Kyaw, deputy director general of DICA.

Tourism projects planned for Chin, Kayin and Taninthari

According to the National Export Strategy, plans are under way to implement a community-based tourism project in Chin and Kayin states and Taninthari Region, says Aung Soe, director-general of the Myanmar Trade Promotion Team under the Ministry of Commerce.

Loan disbursement plan to prioritise less developed regions

Sixty per cent of the total loan granted by Japan International Cooperation Agency will be disbursed under the Credit Guarantee Insurance System. Priority will be given to less developed regions and states for the loan disbursement plan, according to the Small and Medium Industrial Development Bank.