Business

Myanmar trade deficit reaches over US$1 B

Myanmar’s trade deficit has reached more than US$1 billion as imports have overtaken exports, according to Ministry of Commerce.

Trade volume from April 1 to June 23 in this fiscal year is over US$7.128 billion, which is US$1.262 billion more than the last fiscal year. Myanmar exported US$2.855 billion worth of goods and imported US$4.273 billion in this fiscal year.

Philippines invites tender for Myanmar rice

The Philippines’ National Food Authority has invited a tender for Myanmar to supply the country with rice, according to the Ministry of Commerce.

The Consumer Affairs Department, under the ministry, held a meeting at its office in Yangon Region on Saturday to discuss the tender invitation.

The discussion focused on exports of rice to the Philippines in accordance with set standards, and a price-setting process that takes into account the Philippines’ demand level.

Semi-Govt bank to provide more housing loans in Myanmar

Construction and housing development bank (CHDB), a property-focused lender under a public-private partnership scheme, has planned to open more housing saving accounts and provide loans to low-income people in Myanmar from this year onwards, according to its executives.

Macroeconomic risks could derail Myanmar’s bright outlook: AMRO

Though Myanmar’s growth is expected to recover in fiscal year 2017-18 (ending March 31) to 7 per cent yearly after the economic slowdown last year, ASEAN+3 Macroeconomic Research Office (AMRO), the regional macroeconomic surveillance unit of Chiang Mai Initiative Multilateralisation, warned of significant macroeconomic risks which could derail the nation’s favourable growth outlook.

Foreign investors eye electricity sector

Foreign companies are in discussion with the Myanmar Investment Commission (MIC) over pos

Rice exporters eye Chinese rice deal

 

The Myanmar Rice Federation (MRF) is discussing a plan to sign a deal to export 200,000 tonnes of rice to China under a government-to-government agreement. 

Dr Soe Tun, the vice-chair of MRF, said: "The government has not managed to sign a deal yet. We are negotiating with China to export 100,000 tonnes of rice by ship and the remaining via border routes. Now we are not in a position to sign the deal.”

Thilawa's new site attracts foreign interest

The Myanmar Thilawa SEZ Holdings Public Limited has rented

Falling Chinese demand sours sugar market

 

Investment bosses target 10 areas

 

China owns 44% of external debt: MP

 

Loan contracts with China should be reviewed and debt relief negotiated to cut the burden on the economy, according to Khin San Hlaing, MP for Pale.

Medium-term debt management strategy was being discussed at Parliament.