Business

Japan pledges $7.7bn in aid

Japanese and Myanmar business leaders met on November 16, according to the Federation of Chambers of Commerce and Industry (UMFCCI).

A Japanese business delegation led by Hideo Watanabe, chairman of Japan-Myanmar Association, held talks on economic cooperation.

Japan will provide aid worth 800 billion yen (US$7.73 billion) to Myanmar over five years to support its peace-building and development efforts, according to Prime Minister Shinzo Abe.

The UMFCCI's chairman Zaw Min WIn promised cooperation during the meeting.

Dollar price hits everyone: finance boss

The US dollar's appreciation is due to 

Six countries produce 91 % of gold in Asia

NEW DELHI (dataLEADS/ ANN) - Six countries in Asia produce 91 per cent of gold in the continent. China is the leader of the world’s gold-producing nations.  

China became the top producer of gold in 2012. The production rose from 12 tons in 204 to 397 tons in 2013. In 2015, according to GFMS Gold Survey 2016, China produced 458.1 metric tons of the gold. The survey says that China recorded a 14 per cent, a year-on-year gain to a record high. 

Projects being implemented under Japan aid

About US$8 billion in aid from Japan will be spent in many sectors in coming years – such as agriculture, power generation and transmission, transportation, developing Yangon city, plus human resources.
And some projects are already being implemented according to the resident representative for the Japan International Cooperation Agency (JICA).

New criteria for importing vehicles to be announced soon

The criteria for importing vehicles in 2017 is being prepared and will be announced soon, the director general of the Trade Department has said.
Individuals will be able to import 2015, 2016 and 2017 left-hand-drive vehicles with a free permit. 
People who hold permits for old and salvaged vehicles will be able to import cars dating from 2011-2014. 
But bus or truck importers must import 2017 models.
Local auto prices will slightly increase under the new changes and requirements.

Cheap loans to be sought for Thanlyin Bridge no 3 and Twantay tunnel

The President’s Office has submitted a proposal to the Union Parliament to borrow money to build the No-3 Thanlyin Bridge – across the Bago River – and the Twantay tunnel project.
The Ministry of Construction will borrow 31.05 million yen from Japan International Cooperation Agency (JICA) to build the No-3 Thanlyin Bridge. 

Telecoms company OCK forms another company in Myanmar

The Star/Asia News Network

Govt should not control prices directly: minister

 

New investment policy targeting investment announced

 

Myanmar announced its investment policy under the new government during a press conference held on Tuesday at the Directorate of Investment and Companies Administration in Yangon. 

The new policy guarantees the long-term lease of land for investment purposes in accordance with the law and the protection of businesses against controversial confiscation. 

Myanmar, US to promote trade, investment relations

 

The first US-Myanmar partnership meeting was held to promote relations between the two countries in sectors such as trade and investment, health and education, tourism and drugs and human trafficking.