Business

Trade volume down at six border trade camps

 

Trade volume at six border trade camps including the Myawaddy one has dropped to about US$80 million (108.4 billion kyat), according to figures from the Trade Department.

From April 1 to December 22 of this fiscal year, the trade volume of all border trade camps reached above US$5.6 billion, up over US$170 million compared with the same period last year.

MAPCO to build paddy husk-fired power plants in three regions

Paddy husk-burning power plants will be built in Ayeyawaddy, Bago, Sagaing and Yangon where ample supplies of paddy husks are easily available, according to the Myanmar Agribusiness Public Corporation.

Traditional burning of paddy husks is a source of pollution, but using them to generate power could reduce demand on the national power grids, said Chit Khaing, chair of MAPCO at the recent opening of a husk-fired power plant in Pyinmana Township.

Housing sector sees increased domestic investment

Myanmar’s entrepreneurs have made the largest investment in housing projects across Myanmar this fiscal year, according to the Department for Investment and Companies Administration (DICA).

“This year, more Myanmar citizens have invested in housing projects,” said Than Aung Kyaw, deputy director-general of DICA.

While October saw no domestic investment in housing projects, November experienced a huge investment infusion from one business at over 1.38 billion kyat.

Investments from April to November this year reached  over 3.9  billion kyat.

Govt changes rules to increase foreign investment

 

YSX sees 70pc-plus drop in stock trading

Stock trading value at Yangon Stock Exchange (YSX) amounted to over K22 billion last year, down more than 70 per cent compared with 2016, according to figures from the YSX.

From March to December, 2016, the stock trading value reached K70.7 billion.

Entrepreneurs call for ban on re-export of sugar

In a bid to boost the sown acreage of sugarcane plants, the government needs to put a time-limited ban on the re-export of sugar, said Win Htay, chair of Myanmar Sugar and Sugarcane Product Entrepreneurs Association (Mandalay).

“The country imported million tonnes of sugar after the government gave the nod for re-export of sugar. As a result, farmers and sugar mills were in trouble due to China’s crackdown on contraband,” he said.

24 money-losing state owned factories to partner with private sector

 
Twenty-four out of 54 money-losing government-owned factories will be operated in joint ventures with private entrepreneurs after the coming session of parliament, Union Minister for Industry Khin Maung Cho said December 30.
Parliament has also decided to mothball money-losing government-owned factories, he told a regular meeting between the vice president (1) and local entrepreneurs.

Chinshwehaw border gate may be upgraded to ‘international’ status

 
The Chinshwehaw border gate between Myanmar and China will be transformed into an international border gate under an agreement between the two foreign affairs ministries, if approved by other ministries and government bodies.
The announcement was made by Union Minister for Labour, Immigration and Population Thein Swe at the 13th meeting between vice president Myint Swe and businesspeople held in Yangon on December 30.

Foreign investment exceeds $5 bn

Foreign investment volume reached more than US$5 billion (6.76 trillion kyat) as of the third week of December in FY 2017-2018, reaching above 90 per cent of the target for foreign investment for the year, a source from the Myanmar Investment Commission said.

The Myanmar Investment Commission approved 174 businesses and nearly $4.15 billion up until the third week of December for 2017-2018 FY. The total foreign investment volume including increased investment reached just under $4.78 billion.

Myanmar boosts electricity access through off-grid solutions

Given the rising need for power in Myanmar, the government has intensified its 5-year project to provide electricity to rural areas by using off-grid solutions including solar and wind energy.

Khant Zaw, director general at the Department of Rural Development (DRD), said US$90 million would be used for implementation of off-grid projects which would run from 2016 to 2021.

Upon completion, the project aims to implement solar home system in 8,400 villages and mini-grid projects in 350 villages that are situated over 10 miles away from the national grid.