Business

Japan hopes US companies to invest in Thilawa SEZ

Japan is hoping the companies from the United States of America in Thilawa Special Economic Zone as Japan and the U.S have same stance in rendering assistance to help develop Myanmar’s economy though Myanmar face criticism of Rakhine issue from the international community, said Maruyamaka, Japanese Ambassador to Myanmar.
 

China extends rice contract to Sept 2020

 

China extended rice contract with Myanmar to September 2020, according to Myanmar Rice Federation (MRF).

Both countries agreed to extend the expired Sanitary and Phytosanitary – SPS Protocol to September 2020. Myanmar will continue to export rice to China as per agreement. Myanmar is not exported broken rice to China as it is still checked by China.

Myanmar and China signed the agreement to sell rice to China on September 24 2014.

Local fuel prices increase by over 17% in four months following dollar appreciation

Local fuel prices have increased by over 17 percent over the past four months due to dollar appreciation, according to filling stations.

FAO to provide technology in arid zone in mid-Myanmar

 

Myanmar to export gold to foreign markets

 

Myanmar will export gold to Shanghai, Dubai and Thailand, said Dr Ye Thu Aung, director of Myanmar Gold Development Public Co., Ltd at a ceremony to open One Stop Services Center (OSSC) at Myanmar Culture Valley in the People’s Squares in Yangon on September 24.

Gas discovered at Block A-6 offshore in Pathein Township

HINTHADA- Natural gas has been discovered at the Shwe Yee Htun-2 appraisal well which is located about 100 kilometers north-west of Pathein Township, Ayeyawady Region,  according to the Ministry of Electricity and Energy.
 
The Union Minister of Electricity and Energy, the Ayeyawady Region Chief Minister, the regional minister for electricity, energy and transport and officials inspected the test drilling on September 22nd.
 

Myanma Insurance generates over Ks181 bn in state revenue in three years

The State has received over Ks181 billion in tax revenue from Myanma Insurance over the past three financial years, said Minister for Planning and Finance Myint Thaung during a session of Yangon R

Myanmar exported over 700000 tons of beans and pulses

 
Myanmar has exported over 700,000 tons of various kinds of beans and pulses as of April 2018 to date. At present, India has bought Myanmar’s beans and pulses with special license but it is quite difficult to anticipate whether India will buy beans and pulses in the future or not, according to Min Ko Oo, secretary of Myanmar Pulses, Beans & Sesame Seeds Merchants Association.

CPI hits 144.17 per cent in late August

 

Consumer Price Index (CPI) in late August reached 144.17 per cent, up 8.18 per cent compared with the same period last year, according to the report on the CPI and inflation rate issued by the Central Statistical Organization (CSO) at the Ministry of Planning and Finance.

According to the calculation using 2012 as the base year, the CPI for the food group hit 156.88 per cent and the non-food group, 126.27 per cent.

Greenback appreciation costs textile industry

 

Due to the greenback appreciation, local textile industry is making losses, according to Myanmar Textile Entrepreneurs Association.

The value of a US dollar has increased from Ks1,500 in early September to Ks1,650 on September 20.