Business

Ygn-Mdy railroad section reopens

YANGON- Yangon-Mandalay railroad section that was temporarily closed due to collapse of spillway at the Swa Dam reopened yesterday, according to the Myanmar Railways (MR).
 
Some railroad sections were damaged after Swa Creek Dam’s floods,  which also destroyed the BR-305 Bridge between Swa and Konegyi Stations.
 
After the renovation and repair tasks were carried out on the BR-305 Bridge, MR conducted a test run on it.
 

Myanmar fresh green tea leaf will be export to US market soon

Myanmar organic green tea leaf export will begin at the end of September. Myanmar has exported fresh green tea leaf to United States since 2015. Myanmar has exported nearly 20 tons of green tea leaf per year. For 2018, 17 tons will be exported.

Myanmar, Vietnam to promote bilateral trade

 

Entrepreneurs from Myanmar and Vietnam will cooperate to promote bilateral trade in the years to come as trade relations between the two countries has dropped this year, according to a ceremony to hold the Vietnam and Myanmar Trade and Investment Promotion: Opportunities and Challenges.

Citizen investment down this year

 

Until mid-September, the total citizen investment has reached over Ks968 billion, down over Ks500 billion compared with the same period last year, according to the Directorate of Investment and Company Administration (DICA).

During the six-month budget period, the total foreign investments hit over US$1.6 billion and the total citizen investment over Ks974 billion, said an offfical of the DICA.

Starbucks Coffee informs MIC of investment put on hold

American coffee franchise Starbucks informed Myanmar Investment Commission (MIC) that they have decided to suspend their investments in Myanmar, according to Director-General Aung Naing Oo of Directorate of Investment and Company Administration (DICA).

More than 10,000 apartments of public and staff housings to build in Mdy

 

Fuel rates at record high amidst exchange rate increase

 

Huawei urges Myanmar to back shared broadband construction

 

Myanmar sees imbalances in its economy as US dollar becomes strong

Trade imbalances exist due to current account deficits as imports are much higher than exports. As US dollar has strengthened significantly since the past April and June, many currencies in the world including Myanmar Kyats are becoming weaker. Although that is a global impact, depreciation of Myanmar Kyats is found to be more significant than those of other countries.
 

Ygn government will start Elevated Expressway project in 2019

YANGON- With the aim to reduce the traffic jams and to create more job opportunities, Yangon Government Committee discussed about implementation of Elevated Expressway Project with International Finance Corporation (IFC). 
 
The project is expected to start next year, according to Union Minister of State Counsellor’s Office Kyaw Tint Swe.