Business

Thilawa SEZ success drives Govt to expansion

MORE THAN three years after the start of the Japan-backed Thilawa special economic zone, Myanmar launched the development of its second zone in the presence of dignitaries from both nations including Vice President Henry Van Thio.

Myanmar fishery export income set to double

THOUGH MYANMAR’S fishery export income took a dive for three straight years until 2015, industry players hold high hopes to rebound, given the slight increase last year and the potential continuation of growth this fiscal year ending on March 31.

MIC divides country into three categories

The Myanmar 

Thai border trade tops $1.1b

Cross-border trade with Thailand exceeded US$

Money transfer can be smoothly made between Myanmar and US

Money transfers to the United States can now be made by opening a Settlement Account at KBZ Bank.

Improved trade financing and easier cash transfers are expected as KBZ Bank Ltd joins hands with Sumitomo Mitsui Banking Corporation (SMBC-NY). KBZ customers can save time when they make money transfers and they can receive 24-hour service on money transfers to SMBC-NY.

In the past, a transfer made by Settlement Account after 3pm would be dated one day behind.

Parliament approves German loan for locomotives project

Yesterday Parliament approved the Ministry of Transport and Communications proposal to take out a Euro 5 million loan from the KFW known as German Government-owned Development Bank to upgrade the Locomotive Shed (Ywahtaung) under the Myanmar Railways (MR).

Transport and Communications Minister Thant Zin Maung submitted the proposal to the Union Parliament on February 17.

7.9 per cent inflation rate expected in next FY

The average inflation rate is expected to reach 7.9 per cent in next fiscal year, according to the summary report on the Union Budget for 2017-2018 fiscal year. 

According to the Union Budget for 2016-2017 fiscal year (FY), the Ministry of Planning and Finance has estimated that the average inflation is expected to be 11.68 per cent. 

Debunking the myths about investing in Myanmar

OVER the last few years, foreign investment into Myanmar had been steadily increasing with FDI hitting US$8.1 billion (Bt282 billion) in fiscal year ended 31 March 2015.

India, SE Asian nations improving connectivity: Nirmala Sitharama

India and the South East Asian nations, including Myanmar and Cambodia, are enhancing land and sea connectivity to boost trade and are working on various projects such as Kaladan Multi-Modal Transit Transport, Union Minister Nirmala Sitharaman said on Monday.

Ministry to intensify crackdown on illegal trade in March

 

 

Union Minister for Finance and Planning Kyaw Win said the ministry will step up its efforts to crackdown on illegal trade at check points starting in March.