Business

Emirates to launch Yangon-Phnom Penh flight on July 1

Emirates airline, winner of Trip Advisor Traveler's Choice Awards 2017, will launch a flight between Yangon and Phnom Penh on July 1, according to a press release issued by the airline. 

Special ticket sales are now available beginning June 5 until June 30. This is the first Yangon-Phnom Penh route since 2014. Ticket price rates for a return trip are US$242 for economy class and $692 for business class. 

The flight will be a daily connecting flight starting from Dubai starting July 1. 

Japan to concentrate investment on Taninthayi Coast development

The Taninthayi Region government and the central government have drawn projects for the development of the Taninthayi coastal area, and Japan plans in the region, according to Ministry of Commerce Dr Than Myint.

SCB’s aim remains high in Myanmar

Thailand’s first private bank launches comprehensive training for Myanmar bankers

ALTHOUGH Siam Commercial Bank is yet to get a foreign-bank licence in Myanmar, it has broadened its support to banking professionals in that country, according to Kamalkant Agarwal, head of international banking at SCB.

Dentons presence to help Myanmar turn the corner

Long-term isolation for nearly six decades will no longer become a barrier for Myanmar’s growth as another international law firm recently entered the market to provide much-needed legal advice to international companies eyeing the emerging market, according to senior executives of Dentons.

Philip Jeyaretnam, global vice chair and regional chief executive officer of Dentons Rodyk, said in an interview that the firm expanded its presence with the launch of its new office in Yangon on May 31.

Vertiv eyes expansion in Myanmar after rebranding

Vertiv, formerly Emerson Network Power, a global technology provider which supports mobile and cloud computing markets with power, thermal and infrastructure management solutions, has set for business expansion in Myanmar with the launch under its new branding in late May.

Anand Sanghi, Vertiv’s president for Asia, said that the firm would bring the latest technologies to Myanmar, as it could leapfrog to catch up with the development of other Asian countries.

Trade at Htikhee trade camp drops five times

Trade at Htikhee trade camp on the Thai-Myanmar border has declined five times this year, compared to the figures in the same periods last year. 

Myanmar-Thailand trade at the Htikhee border declined from US$12.213 million in the 2015-2016 fiscal year to $2.846 million in the 2016-2017 FY. Tax revenue also decreased from $399.333 million in the 2015-2016 FY to $23.536 million in  the 2016-2017 FY, according to the figures from Customs Department in Dawei Township. 

Falling gas price hits budget

Myanmar earned more than US$230 million from natural gas export until the third week of May this financial year, down US$35 million compared to last year because of falling prices

Independent firms invited to apply for Japanese cash

The Small and Medium Industrial Development Bank (SMIDB) says it will distribute 

Trade deficit exceeds $1bn since April

There has been a trade deficit of about US$1 billion during the first two months of this financial year, according to the Ministry of Commerce. 

From April 1 to May 26, trade exceeded US$4.4 billion with US$1.7 billion in exports and US$2.8 billion in imports. 

Maritime exports totalled US$1.1 billion and US$572 million left overland. 

Maritime imports reached US$2.3 billion and border trade over US$412 million. 

Myanmar earns over US$10m from jade exports within 2 months

Myanmar earned over US$10 million from jade exports in the fiscal year up to May 19 – more than the amount over the same period last year, the Ministry of Commerce has said.

“We exported jade worth of about US$9 million in March, as a jade exhibition was held in that month,” the ministry’s assistant secretary Khin Maung Lwin said.

“We exported a little number of jade before that because we only exported remnants of jade, which are left after sales in exhibitions.”