Business

Tourism industry looks for quick turnaround

DESPITE Myanmar’s tourism business having stalled for more than a year due to religious conflicts in Rakhine State, the nation is making plans to help the industry rebound through accelerating reforms, according to ThetLwinToh, chairman of the Union of Myanmar Travel Association (UMTA). 
 
He said at a recent press conference that Myanmar would hold a large tourism conference in Nay Pyi Taw tomorrow in a bid to regain foreign visitors’ interest in the nation.
 

Estonia plans to leverage its e-government experience globally

AS ESTONIA strives for more effective e-government solutions to increase citizen satisfaction, the nation plans to forge international links, said the nation’s President KerstiKaljulaid. 
 
Speaking to a group of five journalists from developing countries invited to the Presidential Palace, the president said that Estonia wants to cooperate with both developed and developing economies around the world with respect to their digitalisation efforts.
 

Huawei and partners pave way for Asia-Pacific digitalization

 

Bangkok - Nearly 300 attendees were present on Huawei's fourth Asia-Pacific Innovation Day with hopes to explore Asia-Pacific's future in Digital Infrastructure, Economy and Ecosystem in Siam Kempinski Hotel, Bangkok.

International-standard logistics hub to be built in Hlinethaya

An international level logistics hub will be built on over 59 acres of land in Hlinethaya Township, Yangon, to maintain

Tourist arrivals hit 1.22 m in three months

 

During three months of 2018, Myanmar received more than one million tourists with Thai visitors topping the list, according to Ministry of Hotels and Tourism.

Win Naing, director of Ministry of Hotels and Tourism said: “The number of Thai tourists is the highest, followed by China and Japan.”

From January to March, this year, the number of tourist arrivals reached 1.22 million.

SMIDB loans Ks-9.63 billion to SMEs

 

Small and Medium Industrial Development Bank (SMIDB) has granted Ks-9.63 billion to local small-and medium-sized enterprises (SMEs) nationwide, said the SMIDB’s CEO Dr Zeyar Nyunt.

The SMIDB grants loans to SMEs in two forms—collateral loans and non-collateral loans.

“The SMIDB granted a loan of Ks-630 million to 30 SMEs without collaterals and a loan of Ks-90 billion with collaterals,” Dr Zeyar Nyunt added.

Commerce Ministry to sign MoU with Yunnan on agro exports

 

Ministry of Commerce will sign a MoU with Yunnan provincial government in June to officially export rice, sugar, maize and other agricultural products to China, said U Khin Maung Lwin, assistant permanent secretary of the Commerce Ministry.

19 agreements worth over $50 million signed for national power supply project

Nineteen agreements worth over US$50 million have been signed for the national power supply project to be implemented with a World Bank loan, according to the Ministry of Electricity and Energy.

Thanks to the project, over 5,000 villages in 14 regions and states in Myanmar will enjoy electricity.

Purchasing contracts and consultancy service agreements were signed with the tender-winning companies on June 6.

SMIDB to provide three-year loan of up to K50 million to rice and corn entrepreneurs

Small & Medium Industrial Development Bank (SMIDB) will provide a three-year loan of up to K50 million to small and medium enterprises (SMEs) engaging in rice and corn production without collateral, according to a product launch ceremony of SMIDB held at Sule Shangri-La Hotel in Yangon on June 7.

FDI expected to hit $ 3 bln during interim period

 

From April to September this year, the total foreign investment is expected to hit US$ three billion, according to the Directorate of Investment and Company Administration (DICA).

Than Aung Kyaw, Deputy Director-General of the DICA said: “According to the long-term investment plan, the total FDI is expected to reach US$ six billion during each fiscal year.”