Business

Natural gas prices not to rise, says MOGE

The Myanma Oil and Gas Enterprise (MOGE) has denied a rumour that it will increase the price of compressed natural gas and promised to make an official announcement when prices are to increase.

“The rumuor that gas prices will be raised is not true. We will officially inform the public through online social media when we plan to increase it,” said Hla Htay Win, the general manager of MOGE.

Last December, the All Bus Lines Control Committee requested that the Yangon Region government supply more gas for long-distance buses due to supply shortages.

Extended the hours at Thai-Myanmar Friendship Bridge boosts trades and travellers

Thai and Myanmar officials have agreed to extend the operating hours of the Thai-Myanmar Friendship Bridge, which connects Myawady in Myanmar to Mae Sot in Thailand, on January 1, leading to an increase in border trade and the volume of travellers between countries.

The operating hours of the Friendship Bridge were increased from 6am-6pm to 5am-8pm (Myanmar Time) on January 5.

Despite the slump in truck trade around the New Year holidays, workers and buyers and sellers of commodities have found it easier to go to Mae Sot in morning and return in evening.

Rice exports to China surge

Myanmar rice exports to China through the Muse border crossing have swelled due to increased demand from China and fewer seizures by Chinese authorities, according to merchants from Muse.“Demand is up. Export is surging,” a merchant said.On average, about 4,500 tonnes of rice and 1,500 tonnes of broken rice are exported daily through Muse Trade Camp.“Seizure of Myanmar rice by Chinese authorities has decreased. Trade slumps when seizures occur.

Tenders for new flyover projects to open

The Yangon Region government announced that it will open clean and fair tenders for three new flyover construction projects in Yangon.The regional government has allocated Ks 54.35 billion to build flyovers at 8-mile junction, Tamwe junction and Kokkine junction in the 2015-16 fiscal year, of which Ks 22.5 billion will be used for Tamwe junction, Ks 16.45 billion for 8-mile junction and Ks 15.4 billion for Kokkine junction.The regional government plans to hold an open tender at the end of March.

2014, record-breaking year for tourism sector

Last year’s tourist arrivals have set a new record, earning over one billion USD, according to the ministry of hotels and tourism.

The number of tourist arrivals reached 3.5 million and earned 1.135 billion USD. The hotels and tourism ministry designated the 2014 as a record-breaking year as the tourist arrivals and tourism revenue in 2014 surpassed those in 2013. The record revenue in 2013 amounted to 926 million USD.

WB weighs in on selecting audit firm for EITI report

Besides the tripartite – government, the company and civil society organisations – responsible for piling report for implementing Extractive Industries Transparency Initiative (EITI), the World Bank (WB) joined in selecting independent audit firm.