Smart homes much in demands in Mandalay

Smart homes capable of being easily installed and dismantled within three hours have been in much demand in the Mandalay Region and a new design is being created, said Wai Lin Tun, director of UD Group Company.

 “More than 300 smart homes have been sold and we have orders for 100 more. The current design is the form of circle. Apart from the current design, smart homes in the shape of a square will be newly produced due to much demand after the water festival (Myanmar traditional Thingyan festival), “ he said.

MPT wins download speed tests

MPT has been recognised as Myanmar’s fastest mobile internet network, according to the online monitoring company Ookla.

MPT came out top in tests from July to December 2016 for average download speeds. Ookla examined each providers' download performance.

Ookla said MPT’s average download speed was 7.4 megabytes per second, faster than Telenor and Ooredoo.

Muse trade falls by $312m

Between April 1 to March 10, border trade through Muse reached US$4.6 billion, down US$312 million from the same period the year before, according to the Ministry of Commerce.

This fiscal year, exports were worth US$3.1 billion while imports were valued at US$1.5 billion.

Myanmar has opened 16 border trade camps with Thailand, India, China and Bangladesh. The Thai border has the most with seven. Muse in Shan State is the busiest camp on the Chinese border.

Translated by Myo Than

Talks held to boost rice exports

A seven-member delegation led by private sector specialist Jose Ricardo Silva of the International Finance Corporation (IFC) and other rice traders met a Burmese team led by Ye Min Aung and Nay Lin Zin, the joint MRF general secretaries, at the MRF offices.

Between last April and March 20, nearly 1.5 million tonnes of rice were exported.

The MRF is cooperating with the World Bank and the IFC on marketing and promotion. They will coordinate over the holding of the first-ever TRT Rice Conference on April 28.

Myanmar’s foreign trade volume tops US$26 billion

Myanmar’s foreign trade volume has reached US$26billion, a figure that is larger than that of the same period of last year, the Ministry of Commerce reported.

Myanmar’s foreign trade volume was US$26.4billion in total from April to March 2016-2017 fiscal years, which is S$547.6million higher, compared to the same period of the last year.

Transport and communication sectors reach US$3billion in foreign investment

The transport and communication sectors have reached more than US$3billion in foreign investment, accounting for 46 percent of total foreign investment, a source at the Directorate of Investment and Company Administration said.

Until the first week of March in this year, US$3.1billion flowed from 14 foreign investments into the transport and communication sector. Myanmar has received more than US$6.8billion until March this year - and is US$800million above the target set for this year.

Shwe Taung and AYA Bank sign mortgage loan agreement

Shwe Taung Development Company Limited and AYA Bank signed an agreement on mortgage loan service in order to sell affordable apartments to people through a 15-year housing loan plan.

The mortgage loan service is the first longest housing loan plan in the real estate market in Myanmar. The initial payment is 40 percent of total cost - as soon as this amount has been paid, the affordable apartment can be used.

Grab Singapore enters Myanmar

The leading ride-hailing app in Southeast Asia, Grab, started to test its services in Yangon on March 21, becoming the first international company of its kind to enter Myanmar.

Affordable electricity benefits industrialists while rural dwellers pay high prices: Deputy minister

Business owners have enjoyed profits from affordable electricity while rural residents have to rely on expensive private power supplies, said Dr Htun Naing, deputy minister for electricity and energy, who has called for funding for another generator.

He said: “We acquire electricity from private hydropower stations for around Ks68 (US$0.05) per unit and from gas-fuelled power plants for Ks158. Then we sell electricity back to citizens at Ks35 a unit and to industrialists at Ks75. So the government’s electricity distribution is facing a loss.”

Myanmar receives $7 bn foreign investment in FY2016-17

MYANMAR will have received nearly US$7 billion in foreign direct investment (FDI) when its current fiscal year ends on March 31, surpassing its target of $6 billion, said Aung Naing Oo, secretary of the Myanmar Investment Commission (MIC) and director-general of the Directorate of Investment and Company Administration.