Business

410 outbound tour companies get licences

Ministry of Hotels and Tourism says it has issued outbound tour licences to 410 tour companies as of late April. 

Since December, 2015, the ministry has started issuing outbound tour licences. The ministry has to seek the approval of the Union government to issue licences. 

In 2013, the ministry held talks with the Myanmar Tourism Federation and entrepreneurs on the issuance of outbound tour licences and then set the rules and regulations for services. 

Natural gas power plant in Thilawa SEZ to be completed in 2017-18

The natural gas power plant in Thilawa Special Industrial Zone will be completed in 2017-2017, and it will be a 50 Megawatt power plant.

The plant will be built with a loan from Japanese International Cooperation Agency (JICA) ODA and after completion, it will provide  sufficient electricity to industries in the zone.

The country faces a shortage of skilled workers, JobNet.com.mm says

The country faces a shortage of skilled workers, according to the JobNet.com.mm, an online job site. 

The scarcity of skilled workers becomes a global issue. Local and foreign companies are facing difficulties recruiting skilled workers suited to the jobs. Experts point out that the shortfall of qualified human resources in the labour market cannot satisfy the demands of the jobs market. 

CBM plans to decrease loan interest rates

Central Bank of Myanmar will start working to reduce the loan interest rates based on the degree of the risk of loss, said Set Aung, CBM vice governor.

“For a low risk loan, international banks usually grant low-interest loans to its customers. Banks raise interest rates for a high risk loan,” he added.

32 foreign investment proposals under scrutiny

The Myanmar Investment Commission (MIC) 

Deal opens door on French trade

French 

Foreign investors keen to open petrol stations

YANGON- Foreign investors are very keen to open petrol and fuel filling stations in Myanmar.

The Myanmar Investment Commission (MIC) says companies have asked if they are allowed to open domestic fuel stations.

“Currently, no one has submitted a suggestion about the fuel market,” MIC secretary Aung Naing Oo said.

However, foreign investors had asked about rules and regulations for domestic fuel enterprises at the Directorate of Investment and Companies Administration.

Property agent offers Australian dream

The well-known KAE Alliance is back again with a new project offering premium resort properties in Evans Head, Australia.

In partnership with Australian Land Developer Ingles, KAE Alliance now offers a chance for the Burmese to own freehold property in “Vantage at Evans” at far lower rates than are available domestically.

Ahead of the 2018 Commonwealth Games in Australia, Canberra is looking to upgrade the nation's image for holidays, education and work.

21 investments get MIC permit

The Myanmar Investment Commission (MIC) says it has granted 

Bank interest rate causes customers to pay double apartment cost

The current interest rate cause buyers to pay double the cost of an apartment despite use of an installment plan, said Khin Maung Than, chairman of Myanmar Real Estate Association.