Business

Foreign generators to fill dry-season power shortfall

The natural gas generators will be borrowed from the US-based APR Company and a Singaporean firm to supply electricity needed during the dry season, said Htain Lwin, the managing director of the Myanmar Electric Power Enterprise at the Ministry of Electric Power.

Border trade with Bangladesh declines

The trading hubs at Sittwe and Maungdaw, which process border trade with Bangladesh, are less busy now than in previous years, reports say.

The Sittwe hub processed a trade volume of US$4.33 million between April 1 and December 25, 2015, which is $390,000 less than last year’s trade volume.

The Maungdaw hub processed a trade volume of $3.62 million, marking a drop of $1.72 million compared to last year.

Myanmar imports $1 billion in fuel, diesel this fiscal year

In the first nine months of the 2015-2016 fiscal year, Myanmar granted import licences for over 1,870,000 tonnes of fuel and diesel, worth more than US$1 billion, according to the Ministry of Commerce.
From April 1 to December 25 last year, businesses received licenses for the import of over $358 million worth of fuel and over $690 million worth of diesel.
“This year’s imports of fuel and diesel are higher than those of the same period last fiscal year,” said an official from the Ministry of Commerce.

More than 250 companies approved to invest in Myanmar in 2015

More than 250 local and foreign investors were approved to operate in Myanmar last year, with the manufacturing sector topping the investors list, according to figures released by the Myanmar Investment Commission.
The MIC held 23 meetings in which it granted permits to 258 investors.

Telecoms firms to offer text font update

The two foreign telecoms operators are arranging to enable the sending of text messages using Unicode and Zawgyi fonts.

At present, the operators are using Zawgyi for SMS but it is not in line with Unicode standards.

Mobile technicians have to install Zawgyi in handsets and tablets with some asking for root access, as they cannot support the font.

Telenor and Ooredoo said they were taking a trial test using Unicode and Zawgyi. They said using Unicode alone could cause difficulties for mobile users.

769 NGOs get green light

The Ministry of Home Affairs has allowed the formation of 663 domestic and 106 international non-governmental organisations, according to the Upper House’s NGO affairs committee.

President disbands trade task force

An official from the trade and finance ministry has reported that the dissolving of the anti-illegal trade central committee was done directly under orders of President Thein Sein due to the high levels of bribery affecting operations. 

Border trade unaffected by Tao protests

Thai border trade is flowing regularly, according to Nyunt Aung, director general of the directorate of trade under the Ministry of Commerce.

Protests at the death sentence for two Myanmar migrants in the Koh Tao murder case have spread across the nation, leading to rumours that the flow of commodities would cease.

“Trade is being carried out regularly. These rumours do not harm regular trade,” said Myint Kyaw at the Myawaddy border.

Contractor cancels costly Nay Pyi Taw airport contract

The government has accepted to take back the management of Nay Pyi Taw International Airport from Asia World Company, the current contractor, which cited financial losses for the contract termination.

The airport handover contract will be made next week. 

No plans to reduce or withdraw Yangon-Bangkok flights

 

YANGON—Myanmar Airways International (MAI) is now operating direct flight between Yangon and Bangkok twice per day, and there is no plan to reduce the number of flights or to withdraw the flight schedules, said Aye Marya Tha, assistant general manager of MAI.