Online customs service ready to launch

The Customs Department says the online Myanmar Automated Cargo Clearance System (MACCS) is to be launched on November 12 in an effort to speed up trade.

The trial period would end on October 30 with the registration process for the new system beginning on November 7, it said.

Japan International Cooperation Agency provided backing for the new system which will enable exports and imports to be organised online at any time instead of visiting the Customs Department in person.

Myawaddy trade hits $484m

Border trade with Thailand at Myawaddy totalled US$484 million from April 1 to October 21, according to official figures.

The death of the Thai king has not affected trade and it continues to rise.

Myanmar imported goods worth US$454 million from Thailand while its exports were worth just US$31 million, according to the figures.

Last year’s trade during the same period was US$338 million.

Myanmar hotel chain receives $13.5m loan from IFC

Amata Hotel Group, a leading owner and operator of hotels in Myanmar, recently received a US$13.5-million (Bt472 million) convertible loan from International Finance Corporation to expand its hospitality business in the country.

Win Aung, chief executive officer of Amata Hotel Group, said the loan would help his company build new hotels in two of Myanmar’s biggest tourism destinations – historic Bagan and biodiversity-rich Inle Lake.