Submitted by Eleven on Wed, 08/09/2017 - 00:55
ONLINE-BASED taxi service Grab says it is ready to expand in Myanmar after what the company has hailed as a successful four-month trial of its services.
Hooi Ling Tan, co-founder of Singapore-based Grab, said the company had gathered positive feedback during the period and was confident on the outlook for its Myanmar operations. “It has been only four months. But the growth has been large. We are here today to expand our services. Hopefully we can attract a lot more passengers,” she said at a press conference.
Submitted by Eleven on Tue, 08/08/2017 - 16:44
Myanmar has exported about 950,000 tonnes of rice and broken rice to other countries since by the end of July this fiscal year, according to the Ministry of Commerce.
The majority of the exported rice and broken rice went to China, Thailand, Singapore, India and Japan, the ministry said.
The country earned US$ 276 million from rice exports from April to July this year and made US$ 150 million more than that of last year’s export.
Submitted by Eleven on Tue, 08/08/2017 - 12:33
Myanmar’s rubber export represents 1.6 percent of the world rubber export, according to the Commerce Ministry.
There are more than 90 rubber exporting countries around the globe, with Asian countries accounting for 80 percent of the world rubber export, while African countries export 8.5 percent.
Submitted by Eleven on Tue, 08/08/2017 - 12:31
Vacant land plots remain in the Thilawa Special Economic Zone-A, according to Myanmar Thilawa Development Co., Ltd.
The Thilawa SEZ project is located about 23 km from the Yangon City center and has a total area of 2,400 hectors. The project is classified into the 400-hector Zone-A and Zone-B (phase-1). Factories and plants in the Zone-A have started their operations. Currently, 79 companies have invested in the Zone-A.
Submitted by Eleven on Mon, 08/07/2017 - 14:16
The Cut-Make-Pack (CMP) garment sector stands third on the list of export items as its export earnings reached nearly US$ 700 million during four months of this fiscal year, according to the Commerce Ministry.
Myint Soe, the chair of Myanmar Garment Entrepreneurs Association said, “In the past the sector had to rely heavily on the Japanese market. Now it receives more orders from the EU market. The sector is expected to fetch US $3 billion this year.”
Submitted by Eleven on Sat, 08/05/2017 - 17:16
According to the Association of Myanmar Garment Businesses, China has overtaken South Korea as the main investor in the clothing sector.
Chairperson of the association Myint Soe said: “Chinese investors are now leading the market. For sales, the European Union has overtaken Japan."
He continued: “Productivity is increasing each year. Newcomers are not small- and medium-sized enterprises. They have more than 3,000 employees.”
Submitted by Eleven on Thu, 08/03/2017 - 18:25
Export earnings from cutting, making and packaging clothing manufacturing is expected to reach up to US$3 billion this year, said Soe Myint, the chair of the Myanmar Garment Entrepreneurs’ Association.
Submitted by Eleven on Tue, 08/01/2017 - 15:04
There has been trade deficit of US$ 1.77 billion during the first four months of this fiscal year, according to the Commerce Ministry.
From April 1 to July 21, the total trade volume amounted to US$ 9452.849 million, up US$ 1587.417 million compared with the same period last year.
Export volume accounts for US$ 3841.136 million, while import volume is US$ 5611.713 million.
Submitted by Eleven on Mon, 07/31/2017 - 15:46
The Consumer Price Index stood at 132.58 percent in late June, up 2.92 percent compared with the same period last year, according to Central Statistical Organization under Ministry of Planning and Finance.
According to the calculation of CPI using 2012 as a base year, CPI rate for food group is 144.59 percent, 115.65 percent for non-food group and 132.58 percent for all groups.
The CPI rate for the food group increased by 0.19 percent, but there was no significant change to CPI for non-food group.
Rakhine State saw the highest CPI fluctuation rate with 7.88 percent.
Submitted by ttwin on Sun, 07/30/2017 - 17:59
Micro, small and medium enterprises in Myanmar would be encouraged on a very large scale to boost the nation’s economy under its first civilian government, according to a forum entitled, “SMEs development strategy: Issues and Solutions”, held on July 29.
Industry minister Khin Maung Cho said the government would focus on drawing and implementation of effective strategies for SMEs, as they accounted for about 98 per cent of all the businesses in Myanmar.