Business

About 50 pc of tourist trips cancelled, suspended last year

 

At the instigation of some western media about Rakhine situations, about 50 per cent of tourist trips were cancelled and suspended last year, said Ohn Maung, Union Minister for Hotels and Tourism, at a coordination meeting on tourism development and the smooth operation of tourist entry, exit and visit, in Nay Pyi Taw on June 4.

Due to the Rakhine issue, the tourism sector saw a slight decline in 2017.

WB suggests five points for higher rank in the Ease of Doing Business

 

World Bank (WB) has suggested five points to create a framework for e-government and redraft over-100-year-old taxation law in a bid to get the higher rank in the Ease of Doing Business, said Aung Htoo, Deputy Minister for Commerce.

Yoma estimates middle-class population to reach 10m by 2020

Yoma claims the number of middle-class earners will reach 10 million in Myanmar by 2020 and that they will be looking to expand their businesses to serve them.

Dutch feedstuff factory commence operations in Myanmar

Netherland based De Heus feedstuff factory that invested more than Euro 15 million into a 2600 tons per month produce capacity factory  commenced operations in the second week of May. It is situated in Mandalay Myothar industrial zone project which is about 10000 acres wide.
There are 8 international factories in the Mandalay Myothar industrial zone project. De Heus Myanmar will focus mainly on the poultry sector (biggest sector in size), but also in the pig and cattle sectors as well.

Bangladesh plans to buy more rice from Myanmar in July

Bangladesh is planning to buy 100,000 to 200,000

Myanmar prepares bilateral agreement to export agricultural produce to China

YANGON- Myanmar is now preparing details to be included in the bilateral agreement to officially export rice, sugar, maize and other agricultural produce to China, says Permanent Secretary Toe Aung Myint from the Ministry of Commerce.
 
He also said that the plan would be implemented within one month.
 
Myanmar currently is officially exporting the rice at Myanmar-China Border Trade Center but there have been frequent arrests in China.
 

Border rice export declines as China reduces MSP

Rice export via border route had decreased over the past two months as China reduced minimum support price (MSP), said Lu Maw Myint Maung, general secretary of Myanmar Rice Federation.

MRF, IFC sign MoU to standardize rice quality, weight and measure

 

Myanmar Rice Federation (MRF) signed a MoU with International Finance Corporation (IFC) to cooperate in the standardization of types, quality standard, weight and measure for rice, at the UMFCCI on May 29.  

Singapore-based Hayman Capital to provide loans to local SMEs

Hayman Capital based in Singapore is providing micro finance services for local small and medium enterprises, and loans will not be limited to businesses currently in operation.

Most severe economic decline in 2018: UMFCCI