Business

No FDI in three sectors this fiscal year

As of September of this fiscal year, oil and gas, mining and construction sectors had not yet seen an inflow of foreign investments, according to the Directorate of Investment and Company Administration.

18 shipping lines provide container handling at Yangon

Eighteen container shipping lines with 51 vessels are providing container-handling services at the container ports in Yangon.

Yangon has six container ports – AWPT, HPT, MIP, MITT, BSW and AIPT – with berths for 69 vessels. A total of 51 vessels are currently operating.

“Eighteen container shipping lines are currently allowed and there are 51 vessels running, but 19 have stopped,” said an official of Myanmar Port Authority.

Border trade value totalled over $3.399 billion until September 22

 

Some 26% of Zone-B shares in Thilawa SEZ project sold out

 

Garment sector creates job opportunities for women with basic education

Myanmar’s garment industry is worker-based and creates job opportunities for women even with basic education level besides attracting foreign investment, the Union of Chamber of Commerce and Industry (UMFCCI) said at a press conference on October 4.
 

Local investments in property sector the highest

 
Total investments by Myanmar citizens in 11 business sectors until September exceeded Ks14,659 billion, with the property sector topping the list.
 

More investments are left to allow: DICA

 

Myanmar Investment Commission (MIC) is left to allow up to 15 foreign investments worth of US$400 million, said Deputy Director General San Myint from the Directorate of Investment and Companies Administration (DICA).

The MIC is also left to allow local investments worth of Ks 1.434 trillion, he said.

Moreover respective investment commissions found in regions and states are also allowed in respective regions and states, he continued.

Savings interest rate to reach 8pc

The Myanmar Banks Association

Exporters must diversify: minister

 

Hoteliers struggle to survive in Bagan

HOTELS in Bagan, Myanmar’s main zone for ancient monuments, are not expected to be profitable this year, following the decline in tourist arrivals, according to Zaw Weik, chairman of Myanmar Hoteliers Association (Bagan Zone) and managing director of U Zaw Travels & Tours.

Zaw Weik said in an exclusive interview that Bagan welcomed over 300,000 tourists last year, 13 times less than Cambodia’s Siem Reap. He said tourist arrivals in Bagan declined 26 per cent last year from the figure for 2015.