Business

FDI reaches $5.81bn since April

 

PepsiCo supports economic development in Myanmar

The Nation

Yangon

PARTNERSHIPS with Unesco and Positive Planet and an expanding agriculture programme are helping PepsiCo play a positive role in Myanmar’s growth, the food and beverage company says.

Five firms to export rice to Sri Lanka

 

Five companies have won contracts for the export of 50,000 tonnes of rice to Sri Lanka by June, according to the Myanmar Rice Federation.

Commerce minister Dr Than Myint held talks with a delegation led by the Sri Lanka ambassador to Myanmar, KWND Karunaratne, at his office in Nay Pyi Taw on January 23 and signed a memorandum of understanding on rice exports.

GroupM sharpens digital focus

(Nationa/ANN) THAILAND’S largest advertising-media agency, GroupM, is reshuffling its management with the appointment of a new chairman and two other top executives to underscore the company’s focus on digital media.

Chief executive Kevin Clarke will become GroupM chairman for Thailand and Myanmar. Clarke will focus on cross-agency initiatives to support the company’s rapid move into digital-media management and expand the business in Myanmar.

Investors spending more to make goods for export to the US

Foreign businesses have invested more to make goods for export to the US after the Obama administration removed sanctions on Myanmar, a senior government official has said.
“Although the US removed sanctions and gave us GSP [Generalised Scheme of Preferences] status, it didn’t take effect immediately,” the head of the Directorate of Investment and Companies Administration (DICA) Aung Naing Oo said. 

Only 0.2% own a business

In Myanmar only 

Watermelon prices fall due to high supply

Watermelon prices are falling at the 105-mile trade zone in Muse due to a high supply, sources say.

“In February, Vietnam and Laos also export watermelons to China. Now is also the time to harvest watermelons in China. So growing supply leads to falling prices,” said Sai Khin Maung at the Khwarnyo fruit wholesale centre.

Watermelon prices plummeted from CNY5,000 (US$720) to CNY3,000 per tonne in a month.

Individual trading hits Ks9.9bn

As of January 20, individual trading at border trade zones reached Ks9.9 billion this fiscal year with exports making up less than 10 per cent of the total, according to the Ministry of Co

Onion prices double these days

 

Due to the late monsoon onion yield this year, the onion price is expected to double although it will drop in coming months, according to chairman of culinary crops association Khin Han.

Although new onions are just entering the market, the monsoon onion yield is late by about six weeks and as a result onion prices have doubled recently.

At the Bayint Naung wholesale center, the onion price was Ks.1650 to 1700 (equivalent to US $ 1) in February.

Ministry to develop Specialized Textile and Garment Zone

 

The union minister for industry has said that 127 acres of land in No.1 Garment Factory located in Shwe Taung, Bago Region, will be transformed into a Specialized Textile and Garment Zone (STGZ).

Khin Maung Cho, said the ministry will invite potential local and foreign investors to develop the zone to manufacture high quality products.