The Myanmar Times
Tuesday, 25 November 2014
The Myanmar Times
The Myanmar Times

Four-fifths of motorcycles are illegally imported

Far more motorcycles are imported to Myanmar illegally than are brought in legally, said deputy railway and transportation minister U Chan Maung.

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State energy firms to professionalise

The Ministry of Energy is planning to pursue more joint ventures with foreign companies, as senior government officials have urged state-owned enterprises to professionalise or risk being reformed.

 

 

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Hilton opens first hotel

US hotel giant Hilton Worldwide opened its first Myanmar hotel in Nay Pyi Taw on October 17, with four more hotels planned for the country.

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Trade deficit worthwhile to fund future growth

The expanding trade deficit is not a large problem because much of the increase in imports are for construction material and machinery needed to fuel future growth, according to Ministry of Commerce experts.

 

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Sun shines on Magwe solar power project

Thai firm Green Earth Power Company has signed an agreement with the government to move forward on its plans to spend US$350 million building a 220-megawatt solar-power generating station near Minbu in Magwe Region.

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Kokang economic zone comes amid speculation on security

Peace in the countryside may be starting to pay dividends with the further development of Kokang economic zone. 

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Auto firm plans a racetrack

A public company is planning to build a large complex including a racetrack, car showroom and guest house on the outskirts of Yangon, according to Myanmar Automobile Manufacturers and Distributors Association chair U Soe Htun.

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FDI has doubled on last year

Contracted foreign direct investment (FDI) has doubled in the first half of the 2014-15 fiscal year compared to the same period last year, according to data from the Myanmar Investment Commission.

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World Bank partner looks to counter risks

An arm of the World Bank Group is planning to offer risk insurance on loans to encourage foreign investment to come to Myanmar, said Honda Keiko, executive vice president and CEO of the Multilateral Investment Guarantee Agency (MIGA).

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Restaurants must show labels as proof of tax payments

Restaurant will be required to mark their receipts with a security label to show customers have paid a 5 percent commercial tax on their meals starting November 1, according to Internal Revenue Department director U Min Htut.

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