Business

6,685 jade lots and 190 gem lots for sale through open tender

 
The 2017 Mid-Year Myanma Gems Emporium will put up 6,685 jade lots and 190 gems lots for sale through open tender, a source of Central Committee for Holding Myanma Gems Emporium said.
 

NI kick-starts Myanmar operations with academia

NATIONAL INSTRUMENTS (NI), a global provider of platform-based engineering systems, is intensifying its activities in Myanmar with the creation of new platforms for teaching and research for the academic segment.

MatejKrajnc, NI’s managing director for Asean, Australia and New Zealand, said in an exclusive interview that the firm has partnered with Synopsis Technology Myanmar to offer its innovative products and technical solutions to the local market. He said both firms shared the same vision in leveraging the platform.

Ooredoo Myanmar aims to lead data market

OOREDOO Myanmar will continue its 4G rollout to become the leader in Myanmar’s data market after becoming the nation’s first telecom operator to provide 4G services last year. It plans to introduce the first 4G Pro network early next year, according to VikramSinha, the firm’s chief executive.

The upgraded 4G Pro network is designed to offer the fastest browsing speeds in Myanmar – up to 500 Mbps or three times faster than the current mobile data speed of existing 4G networks, he said.

US business chiefs scope out Myanmar deals

A team of 37 executives from 14 leading US companies met with representatives of the Union of Myanmar Federation of Chamber of Commerce and Industry (UMFCCI) at the latter’s office last week to deepen bilateral economic relations and to seek new joint ventures with local firms.

The delegation was led by Alexander Feldman, president and Chief Executive Officer of the US-Asean Business Council Inc, who said the mission aimed to drive closer interaction between Myanmar and US businesses and to help American businesses in the country.

Three central markets to sell gold, gems and other minerals to be established

Myanmar International Multi Resources Exchange & Financial Region will be established in three venues in order to internationally sell gold, gems and all mineral-related items that are locally produced, a local source said.

The remarks came from the 15th Plenary Meeting of Myanmar Gold Entrepreneurs Association was held on December 9.

Chin needs trade zone to increase exports to India: Commerce official

To promote Chin State’s economy, the government should establish a trade zone, according to a source at the Chin State Federation of Chambers of Commerce and Industry.
The source said he had advised the state and union governments to set up the trade zone in Paletwa Township.

Clampdown on illegal smuggling from neighbours needed, said Minister

Businesses in neighbouring countries are closely watching Myanmar’s market needs and consumer demand, and using various means – including illegal smuggling – to get their commodities into the country, according to Kyaw Win, the Minister for National Planning and Economic Development Kyaw Win.
 

Suu Kyi challenges businesses to add value to resources

 
Myanmar needs to export value-added products instead of just sorting and exporting raw materials, said State Counsellor Aung San Suu Kyi during the Second Entrepreneurship 2017 ceremony held at Nay Pyi Taw on December 9.
“Our country is rich in farm products and natural resources but everyone know that we are struggling to compete with neighbouring countries and regional countries in the quality of our products. So we have to invent new technologies to produce value-added products based on demand instead of producing and exporting raw materials,” she said.

Adviser suggests four-point remedy for ailing economy

 
Dr U Myint, an economic adviser to the Union of Myanmar Federation of Chambers of Commerce and Industry suggested a four-point remedy for reviving the ailing economy at the UMFCCI Convention 2017 on Sunday.  

Two foreign joint businesses withdraw over red tape, says MIC

Two foreign joint business proposals – an airline and an oil refinery – have been withdrawn despite approval from the Myanmar Investment Commission, the MIC has reported.
 
A proposed 78-billion kyat joint investment by Japan and Myanmar companies for a new airline was withdrawn after the Ministry of Tansportation and Telecommunications refused to issue a permit despite MIC approval.