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.
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.
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.
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.