The Myanmar Times
The Myanmar Times

Marketing main roadblock for community tourism

Community tourism projects struggle to market their products and services, according to speakers at the Communities and Tourism Conference held in Nay Pyi Taw on June 13-14.

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‘Time will tell’ whether YBS is a success, official says

A total of 2000 buses have already been imported by the government to fulfil the demand, said Yangon Chief Minister U Phyo Min Thein on June 9 at the press conference marking the anniversary of the new government.

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Dry port sets hopes on Belt and Road

The country’s first dry port will be built near Myitnge, in Amarapura township, Mandalay Region, and join the Belt and Road network, said U Myo Win, general manager from Myanma Railways (Upper Myanmar).

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Central Bank takes aim at dollar-denominated deposits

The Central Bank of Myanmar had already published warnings twice and defined the type of punishments in relation to different institutions, said U Win Thaw, director general of the Foreign Exchange Management Department at the Central Bank of Myanmar.

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Clear mandate and management structure essential for MGE

The Natural Resource Governance Institute has published a report Governing the Gemstone Sector: Lessons from Global Experience in which Myanmar’s state-owned enterprise is featured as a case study.

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Initial drilling for Pyi Thit well-1

According to MPRL E&P, Pyi Thit Well 1 in offshore Block A-6 was spudded to appraise gas reserves and prospects.

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EuroCham cites protectionist bent and tax inefficiencies as top investor concerns

A white book published by European businesses has hit out at Myanmar’s protectionist tendencies blocking or stalling liberalisation and cited tax inefficiencies as one of the top concerns among investors.

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Central Bank to penalise unlawful use of foreign currencies

The Central Bank of Myanmar will soon penalise people who are using dollars to pay for local business transactions, U Win Thaw, director general of the Foreign Exchange Management Department told The Myanmar Times.

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Supporting SMEs, manufacturing locally and operating in underdeveloped areas criteria for FDI approval, official says

A top official from the Ministry of Commerce told an audience of foreign investors and businesses that foreign investments should be able to support SMEs, manufacture products in Myanmar and operate in underdeveloped areas. Those are the criteria upon which the government will approve or reject foreign investment proposals.

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European businesses call for stronger collaboration and consultation between government and private sector

“The key message is political support’ – these words from the vice president [Myint Swe] at the opening speech were perceived as a strong and welcoming message to European investors in Myanmar and European companies looking at Myanmar as a possible new investment destination in ASEAN,” said Filip Lauwerysen, executive director of the European Chamber of Commerce in Myanmar (EuroCham) during the Myanmar-EU Economic Forum held in Nay Pyi Taw on June 8.

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