The Myanmar Rice Federation has agreed with traders to suspend rice exports until September as more than 500,000 acres of paddy fields are flooded nationwide, leading to a sharp rise in prices over the past few days.
The backers of the Yangon Stock Exchange are putting together a crash course to introduce it to the public. Dr Maung Maung Thein, chair of the Securities and Exchange Commission of Myanmar, said in the coming months, various stakeholders will be given a look at how the systems behind the exchange work.
In rapidly expanding Yangon, business activity has remained largely focused in the city’s southern central area. The downtown is now stuffed with shops, traffic and offices, though authorities’ plans to relieve the pressure have so far been stymied as they await approval for a large business development.
Credit guarantee insurance services for small and medium-sized enterprises (SMEs) have been available in Myanmar for more than a year, but so far nobody has taken advantage of them, said Dr Maung Maung Thein, deputy minister for finance, at the 1st Myanmar Financial Inclusion Conference in Yangon on August 2.
Maybank began operations yesterday, making it the first and only Malaysian bank to open a branch in Myanmar.
The Ministry of Construction is in talks with development organisations about the potential for an elevated highway and railway in Yangon, said U Kyaw Lwin, Union minister for the Ministry of Construction (MoC).
The cost of building the Shwe gas project in the Rakhine offshore basin will be recovered within four years, as the gas field was less expensive to develop than other offshore projects, officials said.