Business

Japan leads FDI list

 

From April to June this year, Japan topped the list of foreign direct investments with more than US$ 85 million, according to Directorate of Investment and Companies Administration (DICA).

During three months, Japan stood first with US$ 85.157 million, China, second, with US$ 75.335 million, and the US, third with nearly US$ 56 million.

Border trade volume increases amidst heavy rain

 

Myanmar has earned US$261 million from Myawady border trade center with Thailand until July 20 of this fiscal year even though trucks loaded with consumer goods from Thailand are struggled to cross Gyaing suspension bridge amidst heavy rain, according to Ministry of Commerce.

Myawady border trade center, which is the biggest trade center among border trade centers with neighbouring Thailand, earned US$243 million in the same period of last fiscal year from April 1 to July 20.

Currency crisis should not be underestimated: Economist Dr U Myint

 

Economist Dr U Myint warned that the currency crisis that may overthrow a government, should not be underrated, at a talk on "the currency exchange rate” at Union of Myanmar Federation of Chambers of Commerce and Industry in Yangon on August 4.

Dr U Myint pointed out the local currency depreciation in comparison with Indonesia’s currency crisis in 1997 and 1998.

GGI launches short term endowment life insurance

GGI Insurance launched a short term endowment life insurance, the first of its kind in Myanmar, at Pan Pacific Hotel in Yangon on August 3.

These aged between 10 and 60 may have such a kind of insurance with an amount of K1 million to K50 million. The period of insurance can be five, seven or ten years, and a premium can be paid ever month, every three months, every six months or every year.

Myanmar allows up to 80% of foreign investment in agriculture sector

Foreign businesses have been allowed to invest up to 80 percent in Myanmar's agriculture sector instead of 49 percent, according to Myanmar Investment Commission (MIC).

Textile, food processing “key” to Myanmar-Taipei trade

SEEKING to build on the rapid growth in trade between Taipei and Myanmar, industry bodies from the two sides have signed two memoranda of understanding at the recent Taiwan-Myanmar Industrial Collaboration Summit.

MyoThet, vice president of the Union of Myanmar Federation of Commerce and Industry (UMFCCI), said the agreements would help boost bilateral economic ties, reflecting Taiwan’s pledge to support Myanmar with capacity building and technical assistance in core sectors including textile and food processing. 

Time to fix key issues for industrial revamp, banking expert warns

MYANMAR’S potential to become a regional investment hub would be realised only if the government manages to address major challenges businesses are facing in the nation, a banking expert has warned.

Than Lwin, a senior consultant at KBZ Bank Ltd and former deputy governor of the Central Bank of Myanmar (CBM) stressed the importance of addressing four key challenges – religious conflicts in Rakhine State, revenue mobilisation, lack of investor-friendly laws and the undeveloped banking industry.

Govt urged to urgently curb forex volatility

Following the daily fluctuation of Myanmar's exchange rate over the past three months, economists and business people have urged the government to urgently address the problem of violatility.

Economist Maung Aung said the Central Bank of Myanmar (CBM) must come up with effective measures to rein in the forex market, in order to create a conducive environment for businesses, particularly those involved in foreign trade. 

Flexible Pass set to revolutionise Myanmar’s fitness business

WITH health and fitness centres popping up in big cities across Myanmar, a technology startup is bent on bringing all gyms under its innovative platform that offers users on the go access to all facilities in the network, said Sully Bholat a.k.a. Htet Aung Latt, the founder and chief executive of Flexible Pass.

“Now we cover nearly 70 different locations in Yangon, and have plans to expand to Mandalay over the next few months,” Sully said in an exclusive interview. “We will try to reach everywhere in Myanmar over time.”

Agriculture Ministry to loan $40.5 from ADB, 30m euro from Italy

Union Minister for Agriculture, Livestock and Irrigation Dr Aung Thu has submitted a proposal to Union Parliament seeking loans of US$40.5 million from Asian Development Bank and 30 million euro