Farmers and agricultural industry bodies are demanding that farmland is accepted as collateral for bank loans, but implementing such a system is fraught with problems, officials told The Myanmar Times.
Rice prices are falling in quiet rainy-season trading, as a weaker yuan makes Myanmar exports to the world’s second-largest economy less competitive and arrests in China in connection with the rice trade discourage buyers across the border.
Foreign and domestic investors are being invited to put their money in factories lumbered with outdated equipment. The government says it has no funds to help companies buy new plants, because its priorities are education and healthcare.
A group of farmers in Rakhine State’s Kyaukphyu township are hoping for negotiations with the Southeast Asia Gas Pipeline (SEAGP) company, after being told by local authorities not to sue the firm over damage to farmland.
Myanmar could be losing a colossal 4 million tonnes of rice to waste and damage every year, and a local university is partnering with the Myanmar Rice Federation to assess the extent of the problem.
The Yangon Region government is forming a new public-private partnership (PPP) company, as part of a city-wide reform of the chaotic public transport system. Bus line owners are eagerly awaiting the overhaul, but want the authorities to provide infrastructure and financial aid to help them manage the shift.
A new king has been crowned at Yangon International Airport. Global fast-food giant Burger King opened its doors in Terminal 1 on July 1 – marking its first entry into Myanmar.