Business

Domestic fuel prices soar within three and a half months

 

Farmers unhappy about onion price hike when low stock

Pakkoku- Onions farmers are earning less profit as Onion prices are climbing higher when there are so little produce left in the hands of the farmers to sell.

At present, One viss (1.6 kilograms) of onions has reached over Ks1,000 (US$0.7) as the demand rises, sources say.

When the onion enters markets in the Pakkoku region, from May to end of August, the highest price of one viss of onion may only reach up to Ks600 wherelse in September, when there is little to no stock left with the onion producers, the price is higher.

Capital: the biggest challenge of boosting marine product exports

 

Capital investment is a major challenge in attempts to boost marine product exports, said Win Kyaing, General-Secretary of Myanmar Fishery Federation (MFF).

In 2018-2018 fiscal year, the MFF’s marine product exports is expected to hit US$700 million. According to the project drafted until 2025, marine product export earnings will increase by US$ four to five billion during seven years, Win Kyaing added.

Actual FDI inflows hit over $ 26 billion

 

From 1988 to 2017, the actual inflows of foreign investments reached over US$ 26 billion even though the government allowed US$ 76 billion foreign investments, according to International Investment Position.

Myanmar signs $80m-loan agreement with ADB for GMS Corridor Towns Development Project

The Ministry of Construction has signed an agreement to loan US$80 million from Asian Development Bank for a development project for the towns along east-west economic corridor of Greater Mekong Sub-region.

The signing ceremony took place at the meeting hall of the ministry in Nay Pyi Taw on September 13.

Yangon gov’t makes losses in bus services: Auditor General

 

Yangon Region government took a loan of Ks-eight billion from Ayeyarwady Bank as it had no sufficient money to buy 1,000 new buses, according to an audit report submitted by Khin Than Hla, Yangon Region Auditor General for 2016-2017 fiscal year, at the session of Yangon region parliament on September 14.

MIC approves citizen investment of over K968 bn in more than five months

Myanmar Investment Commission (MIC) approved a total investment of K968.866 billion made by local citizens in regions and states across the country from April to earlier this month, but the amount has declined by ov

SCG foresees higher growth next year

Despite bright outlook for Myanmar in the coming years, the Siam Cement Group (SCG)’s growth target for the country this year may be hit by inflation and flooding across the country, said SurachaiPomjindachote, the Thai firm’s country director for Myanmar.

"For this year, Myanmar is facing floods and inflation, so total growth of the country might fall below target,” he said in an interview. 

“But in 2019, we foresee higher growth compared to this year’s.”

Myanmar to send commercial attaches to more countries

IN A BID to boost trade with foreign countries, Myanmar will appoint new commercial attaches in more countries in the coming months, said a government official.

Khin Maung Lwin, assistant secretary and spokesperson of the Ministry of Commerce, said the ministry is currently training some officials to be sent to foreign countries which have strong potential for trade with Myanmar.

“We hope to replace the existing commercial attaches with new ones by December this year, and have planned to appoint commercial attaches for four new destinations including Africa,” he said.

MM Social eyes nationwide reach, profit in one year

MYANMAR people’s thirst for a 100 per cent local social network platform like Facebook will be satisfied by the recent launch of MM Social developed by young technicians, Yan Naing Myint, founder and managing director of MM Social Zone Co, said in an exclusive interview.

He explained that the growing popularity of global social networks including Facebook and Instagram among people in Myanmar motivated him to start creating a local social platform. So, three months ago, he established a company with a team of some 20 young technicians.