Business chiefs call for kyat support

The Federation of Chambers of Commerce and Industry (UMFCCI) has advised the government on how to stabilise the currency.

The trade body's statement covers the inflow of foreign currencies, how to increase demand for the kyat, the export-import sector and long-term plans.

The statement said the dollar's appreciation was due to an unbalance between demand and supply, caused by high trade deficits, rampant black monetary markets and dollar manipulators.

Mandalay SMEs near collapse

Small- and medium-sized enterprises (SME) at the Mandalay industrial zone are on the brink of collapse, said the industrialists at a press conference on Wednesday in Mandalay Region.

SME owners, officials of the industrial zone and the Mandalay regional chief minister attended the briefing.

The organiser said that financial and technical difficulties had caused the businesses to face losses and they asked for the government’s help.

MTSH gives three companies green light to develop housing complex project in Thilawa SEZ

A Japanese company, Super Hotel Co Ltd, and the Max and Myint Myat Htut Khaung companies, have been given the go-ahead for developments as part of a housing complex project in Thilawa Special Economic Zone, according to announcement from Myanmar Thilawa SEZ Holdings Public Limited (MTSH).

Thilawa Property Development Limited (TPD), a subsidiary company of the MTSH, invited an open tender to build a housing complex as well as a hotel and filling stations.

Yangon plans to prioritise decentralisation

Three new towns will come into existence in Myanmar’s commercial hub according to the long-term development plan for Yangon, according to the Yangon City Development Committee.

The strategic urban development plan (SUDP) of Greater Yangon, developed with help from Japan International Cooperation Agency, will prioritise decentralisation in the metropolitan area in light of rapid urbanisation which boosts population above 5 million and worsen dwellers' quality of life.

Myanmar confident of topping $6 bn FDI

THE MYANMAR Investment Commission is confident of reaching its $6 billion (Bt216 billion) target for foreign direct investment in the 2016 fiscal year to March 31, although the nine-month figure accounts for only slightly half of the target.

Despite the decline in FDI inflow, Aung Naing Oo, director-general of the Directorate of Investment and Company Administration and secretary of the MIC, believes that Myanmar will enjoy an FDI influx in the last three months of fiscal 2016, even surpassing its target.

Government plans to sell housing for retirees and low income people by installments

Nay Pyi Taw – The government is planning to sell housing in Nay Pyi Taw for retirees and people on low income by installments from Construction and Housing Development (CHD) bank.

The government is planning to develop two housing projects in Nay Pyi Taw: Yan Aung Myin housing in Dakhina Thiri Township and Shwe Nant Thar housing in Oakthara Thiri Township.

Foreign travelers keen on going to Chin and Shan States

YANGON - Foreign visitors are keen on going to Chin and Shan states rather than other regions such as Bagan, Taunggyi, Inle and Mandalay, which were previously the more popular tourist destinations, says Phyo Wai Yazar from All Asia Exclusive Travel @ Tour Co Ltd.

During December, the number of tourist arrivals in hilly and coastal regions increased, according to the tour agencies.