Business

China calls for giant trade zone at Muse

China has urgently proposed a Shweli-Muse border economic cooperation zone to promote trade, reported the Ministry of Commerce.

Construction plans would be made and aims and objectives quickly established, it said.

The ministry had agreed to the plan, assistant secretary Khin Maung Lwin of the Ministry of Commerce said. “Both sides submitted proposals to form organisations. The proposals have not been passed yet and the exact site has not been chosen."

President and State Counsellor discuss business with Thai delegation

President Htin Kyaw and Aung San Suu Kyi, the State Counsellor and Foreign Affairs Minister, held separate meetings with Dr Somkid Jatusripitak, the Deputy Prime Minister of Thailand, in Nay Pyi Taw, on Thursday.

President Htin Kyaw received Somkid and his delegation at the President’s Residence in Nay Pyi Taw on Thursday morning.

Authorities reopen Namtu bridge

The authorities have repaired and reopened Namtu bridge, which was damaged by a mine blast on November 20.

Only one lane could be used due to the blast, causing congestion.

“We made restrictions to cross the bridge after the attack and now vehicles can cross,” said an official from the Roads Department in northern Shan State.

The 180-feet-long bridge with two lanes was reinforced with steel and concrete to replace the damage after the car exploded.

Government to sell fuel domestically

Myanma Petrochemical Enterprise (MPE) has announced that it will distribute tens of thousands of gallons of petrol, diesel and CGO (cooking gas oil) in February.

In Minhla Township, Magway Region, the Thanpayakan petrochemical industrial complex owned by MPE under the Ministry of Electricity and Energy is producing diesel and will sell it for Ks2,500 per gallon for a purchase of at least 30,000 gallons.

Similarly, a gallon of petrol will cost Ks2,400 for at least 15,000 gallons.

Myanmar growth tipped to rise: WB

Despite Myanmar’s growth projection declined to 6.5 per cent this year due to the slowdown of economy, the country is expected to rebound at an average of 7.1 per cent real GDP growth over the next three years, according to World Bank economists.

Somkid mission aims to double bilateral trade with Myanmar

 

By PETCHANET PRATRUANGKRAI

THE NATION/the Asia News Network (ANN)

 

Myanmar-Thailand border trade exceeds $1bn

 

Earnings from border trade between Myanmar and Thailand reached over US$1 billion this fiscal year compared to $160 million in the same period in last fiscal year, according to Directorate of Trade.

Myanmar earned $1.025 billion from border trade with Thailand as of January 20 this fiscal year, according to statistics from the department.

Yangon factories claim extortion by ‘bullies’

YANGON

ALTHOUGH the Myanmar government has instructed all industrial zones in Yangon to increase production for quality exports, zone chiefs claimed on Friday that their productivity was severely hurt by bullies extorting money.

Visa, KBZ launch international credit cards in Myanmar

VISA INC AND KBZ, Myanmar’s largest private bank, launched two types of credit cards this week that can be accepted locally and internationally.

KBZ managing director Zaw Lin Aung said the launch marked an important first step of a strategic partnership between Visa and KBZ to develop innovative financial products for the country, after the Central Bank of Myanmar’s decision to allow international card providers to offer their products and services for the first time in Myanmar.

Myanmar firm to showcase in Ambiente 2017

Bella Interiors, a leading Myanmar firm which produces and exports a spectrum of crafted rattan furniture and accessories to the international community, will represent Myanmar as a repeat exhibitor in Ambiente 2017, a global consumer-goods platform to be held in Germany’s Frankfurt Exhibition Centre on February 10-14.