Business

Thai property draws attention to well-off Myanmar people

iMyanmar house, the most well-known for Myanmar real estate market, organised a big sale of condominiums in Bangkok, Thailand at My Garden Restaurant, Yangon Region on September 8 and 9.
 

Maywady border trade in the slumps

 

From April 1 to August 24 during this fiscal year, the total trade volume at Myawady border in Kayin State amounted to US$ 320.783 million, down US$ 8.643 million compared with the same period last year, according to the Commerce Ministry.

Actual FDI inflows hit $ 4.3 billion in 2017-18 FY

 

According to the long-term foreign direct investments promotion plan, the inflows of total FDI reached over US$ six billion in 2017-2018 FY. But the actual inflow of FDI into the country amounted to US$ 4.3 billion, according to Myanmar Investment Commission (MIC), according to the MIC’s summary report for 2017-2018 FY.

Investors pool resources in industry, hotel and other services sectors in Ygn region

Foreign and local investors made their investments in 38 businesses worth over US$68 million and Ks16 billion in Yangon region and most of them were mad

Ygn has about 4,800 upscale hotel rooms: Colliers International

 

Trade deficit expected to reach just about $500 m in coming fiscal year

Myanmar's trade deficit is expected to reach only about USS$500 million in coming 2018-2019 fiscal year because trade deficit declines year by year, according to the Ministry of Commerce.

Foreign trade value is also expected to reach US$31.1 billion in that year.

In the 2017-2018 FY, international trade value was expected to reach US$29 billion – US$14 billion in export and US$15 billion in import. Meanwhile, trade deficit was expected to reach about US$1 billion.

One Stop Centers will be opened in Thailand for Myanmar workers

For sending Myanmar workers to work at the fishery industry of Thailand, two One Stop Centers will be opened in Kawthaung and Ranaung according to Ministry of Labour, Immigration and Population on September 5.

Thailand Minister for Labour visited Myanmar during August and invited more than 60,000 Myanmar workers to work at the fishery industry in Thailand legally.

Rice exports expected to hit over two million tonnes in six months

 

Myanmar will export over two million tonnes of rice and broken rice during the six-month mini budget, said Ye Min Aung, General-Secretary of Myanmar Rice Federation (MRF).

“Rice export may decline this year. But we need to monitor it. Floods destroyed about 400,000 acres of monsoon paddy this year. It is not a paddy harvest season,” he added.

Vehicle imports to be reviewed

 

The authority will review vehicle imports due to trade deficit, dollar appreciation, rising fuel oil price and fuel oil imports, according to the Vehicle Import Supervisory Committee.

According to the State-owned newspapers, Vehicle Import Supervisory Committee held a coordination meeting led by Union Minister for Commerce Dr Than Myint, chair of the Vehicle Import Supervisory Committee, at the commerce ministry in Nay Pyi Taw on September 3.

Saltwater shrimp breeding aims to raise marine export earnings

 

Myanmar plans to extend saltwater shrimp breeding industry in order to boost marine export earnings of up to US$ one billion during the next two years, according to Hnin Oo, Vice-President of Myanmar Fishery Federation.