Business

40,000 tonnes of illegal timber seized since April

More than 46,150 tonnes of illegal timber was confiscated nationwide between April and January, according to the Forestry Department.

January rice exports hit $12m

Myanmar earned more than US$12 million exporting over 40,000 tonnes of rice by sea in January, according to the Ministry of Commerce.

January rice exports hit $12m

Myanmar earned more than US$12 million exporting over 40,000 tonnes of rice by sea in January, according to the Ministry of Commerce.

Labour dept creates 28,000 jobs in January

 

Kirin plans to buy Mandalay Beer

 

Japanese brewer Kirin Holdings is planning to buy Mandalay Beer for an estimated several hundred million yen in its latest effort to boost its presence in the Asia-Oceania region and as a part of enhancing their market position in Myanmar.

Myanmar CMP industry expected to earn US $ 2 billion

Myanmar is expected to earn about US$ 1.855 billion from CMP (cutting, making and packaging) garment industry which includes the manufacturing of shoes, garment and bags, according to Ministry of Commerce.

Export earnings from the garment industry through CMP has more than doubled since last year, according to the Ministry.

Foreign investment in hotel and tourism reaches US $2.7billion

 

Myanmar has received foreign investment of more than US $2.687billion in 67 businesses in the hotel and tourism sector as of January 2017, the Directorate of Investment and Company Administration (DICA) reported.

The hotel and tourism sector is the 7th industry most invested in, accounting for 3.87 percent. 

Mapco expects to get listed on YSE

The executive director of Myanmar Agribusiness Public Corporation (MAPCO) said that the company will likely to be listed on the Yangon Stock Exchange.

According to the record, there were a total of 1,343 stakeholders of the company in 2014-15 FY. It was led by Chit Kaing, Zaw Zaw and Zaw Win.

Currently, the company has sold a total of 602,649 shares to the public.

The company is operating businesses such as port services in Thilawa, rice mills and agriculture.

Joint Bill Committee suggests reducing 3% commercial tax to 1% in buying gold jewellery

While the 2017 Tax Revenue Bill states that 3 per cent commercial tax shall be levied on sales of gold jewellery, the Joint Bill Committee has suggested that the amount should be only 1 per cent, in a report to a regular session of the Union Parliament held in Nay Pyi Taw on Monday.

According to the bill, buyers of gold jewellery are to pay 3 per cent commercial tax. The bill first fixed the commercial tax as 5 per cent, which jewellery shop owners said was impossible. Therefore, the bill was amended to collect 3 per cent.   

FDI brings about property market boom

 

The local property market, especially in industrial zones, is expected to boom as the country sees a massive influx of foreign investments, according to House.com.mm.