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.
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.
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.
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.
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.