Sunday, August 28, 2016
The Myanmar Times
The Myanmar Times

Small industrial zones lack government support

Investment should be directed toward upgrading the country’s ageing industrial zones, as the government contemplates launching new ones, say Yangon industrialists.

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MIC approves new projects worth $100 million

The Myanmar Investment Commission (MIC) has approved nine new projects in its fourth round of licensing since the new government took power.

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Myanmar records $1.5b trade deficit in first four months

Myanmar’s total trade volume has fallen by almost US$700 million in the first four months of this fiscal year compared to the same period last year, according to Ministry of Commerce data, while the country has racked up a $1.5 billion trade deficit.

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Policy silence hits car import demand

The market for imported luxury cars has been severely damaged by the government’s failure to provide direction on its import policy, according to showroom managers.

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Vehicle insurance rates double

Vehicle insurance rates at the low end of the market are set to more than double, Myanma Insurance has announced. But the company also said it would double the level of its payouts.

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Korea-Myanmar venture to build 500-acre garment zone

A Korean firm and a local company have teamed up with a view to building free-on-board (FOB) garment factories on 500 acres of land through a 50-50 joint venture.

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Farmers look to the future as floods hit paddy production

Flooding across the country over the past two months has impacted more than 400,000 people and submerged more than 500,000 acres of paddy, according to recent government data.

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Aeon’s Myanmar bid highlights supermarket uncertainty

Japanese retail giant Aeon’s ambitions in Myanmar’s lucrative retail sector have highlighted uncertainty about what foreign firms are allowed to do as far as trading is concerned, with local industry heads calling for more clarity and a level playing field for domestic and international players.

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International funding key to electrification

International funding will help Yangon Region keep up with rising demand for electrical power, the chief minister has pledged. U Phyo Min Thein, speaking at the Fourth Myanmar Green Energy Summit yesterday, said boosting the electricity sector was the key to the country’s development.

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Private bus company goes conductor-free

In what could be the end of the line for Yangon’s notorious bus conductors, one bus line owner is introducing a system of asking passengers to pay fares into a collection box. Ko Ta Yoke Lay, who runs the No 45 line, says the introduction of the system will remove the need for bus conductors.

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