Business

Muse border trade drops $74 mil since last year

 

Trade at the Muse border gate, Myanmar’s largest trade hub with China, is declining, according to data collected at the border gate.

Trade at the gate between April and August 5 amounted to US$1.5 billion, which is $74 million less than the same period last year. Both imports and exports have dropped over the last year.

Twinings officially enters Myanmar

 

MYANMAR has become the 116th market for Twinings, one of the world’s best-selling premium tea brands.

Myanmar embraces trade facilitation with ADB help

 

Fewer freight trucks at Muse border gate

About 70 per cent of cargo trucks in Myanmar have fallen into disuse at the Mandalay-Muse gate due to slow trade flow and a sharp drop in transportation charges, sources say.

Normal transportation charges are around Ks 70 (US$0.06) per viss (1.6 kilos), but the rates have dropped to Ks 50 per viss in recent days.

One truck owner at the Mandalay-Muse highway terminal said: “Around 80 trucks crossed the gate to Muse per day before. But only 15 are in business now. The rates dropped due to cold trade.”

Subcommittees to support CMP businesses

The Management Committee for Cutting-Manufacturing-Packing (CMP) said it will form at least four sub-committees to support CMP businesses.

New sub-committees will oversee CMP wages, taxation scrutiny, import management and advisory services.

The Management Committee also said it will monitor employees’ rights, wages, discipline and responsibilities.

Ministry eyes cooperation with China on meat screening labs

The Ministry of Agriculture, Livestock and Irrigation held talks with Tang Hai[A1] , China’s economic and commercial counsellor in Myanmar, on the prospect of building modern screening labs for export meats, according to a statement released by the ministry.

Minister Khin Zaw and Counsellor Tang Hai discussed establishing a new lab and upgrading old ones to screen export meats at border gates.

12 factories begin operations at Thilawa SEZ

A total of 12 factories in Zone A of the Thilawa Special Economic Zone have begun their operations, said Myint Zaw, an officer and general manager for Myanmar-Japan Thilawa Development Ltd.

“These are garment factories, car accessories and spare parts factories and hand glove factories. The remaining 26 factories are under construction,” he said.

FDI exceeds $381m in four months

The total foreign direct investment (FDI) 

Push to lure more luxury tourists to Myanmar

 
 
MYANMAR’S public and private sectors must join forces to turn the country into a popular destination for high-end travellers, as rich cultural and natural resources could boost tourism income from just 5 per cent of gross domestic product at present, industry figures have said.
 

MNA to launch Mandalay-Bangkok flight this month

 

Myanmar National Airlines (MNA) is planning to introduce a new flight route between Mandalay, Myanmar, and Bangkok, Thailand, on August 31 with newly bought Boeing aircraft, sources say.

The MNA began operating routes to Singapore and Hong Kong in 2015 and from Yangon to Bangkok in February 2016.

MNA operates 27 domestic routes—more than any other local airline.