The International Finance Corporation says it will focus on investing in banking and infrastructure in Myanmar.
High interest rates will force farmers in Mandalay Region’s Patheingyi township to sell their summer harvest in June or July – when prices are at their lowest – leaving them without a profit and driving some to sell their land, farmers said.
A national electricity shortage prompts the government to cut supplies to industrial zones in Mandalay and Yangon regions as residential areas are given priority.
Some currency exchange outlets and banks stopped selling US dollars after the kyat hit a two-year low against the US dollar last week, falling to 950 to the dollar on May 16 before rebounding to 928 on May 17.
Surging diesel prices are driving up production costs at factories in Yangon Region, with owners of food-processing plants saying they are the being hit the hardest because they need extra power for cold storage.
ith the winning applicants for two new telecom licenses set to be announced next month and a second lottery of 350,000 SIM cards at K1500 apiece being held this month, the country’s weak telecom infrastructure is straining.
Loans will become more easily available as private banks proceed with plans to expand lending and the Central Bank of Myanmar considers scrapping some restrictions, finance industry observers say, though they are quick to note that the easing on credit will not occur swiftly.
Although demand for organically grown produce, especially fruits and grains, is rising, few farmers can provide produce to meet it, according to the Myanmar Organic Agriculture association.
Owners of Myanmar’s favourite car brand now have a second repair and paint service centre in Yangon.
Privatisation and public listing could be on the cards for Myanmar Post and Telecommunication, says Minister.
