Sunday, July 31, 2016
The Myanmar Times
The Myanmar Times

Toyota dealers nudge buyers toward choosing new cars

Toyota dealers trying to sell new vehicles are hamstrung by the brand’s success in Myanmar, which has left a huge pool of used cars for buyers to choose from.

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Burger King finds new throne at Yangon International Airport

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.

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MIC to remain under ministry control

Myanmar’s new government will not allow the Myanmar Investment Commission to become an independent entity, but the MIC is planning to amend its policies to relax investment restrictions and direct more capital flows into manufacturing, its secretary U Aung Naing Oo has said.

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Gems sales slump for second year running

Lack of interest from Chinese buyers and a shortage of quality wares again dogged the latest Gems Emporium at Nay Pyi Taw. Ministry of Mines estimates of sales in the high millions of euros appear to be hopeful at best.

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BIDV to help boost Vietnamese investment

Bank for Investment and Development of Vietnam (BIDV) is planning to boost Vietnamese investment into Myanmar once its new branch starts operating later this month, the bank officials said.

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Myanmar turns to timber exports to save forests

Long a timber-producing and exporting country, Myanmar will start importing wood to protect its forests while allowing local timber companies to continue operating, the government has decided.

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Firm to bring big screens to small towns

Movie-loving Myanmar is suffering from a dearth of cinemas, which local firm MAZE is hoping to remedy. The company is kicking off a K20 billion two-year project to build 100 theatres across different states and regions.

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Central Bank shifts from manual to auto

The inner workings of Myanmar’s Central Bank rarely attract much interest from international investors more focused on fresh opportunities in sectors like infrastructure and agriculture. But since the start of the year the bank has gone through fundamental changes that have left it a much more modern institution.

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Myanmar farmers wary of free trade deadline

Six months into the grace period, Myanmar farmers are worrying what will happen when free trade finally comes to all ASEAN members in 2018.

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Cathay United Bank eyes green finance

Taiwan-based Cathay United Bank is ready to make a third attempt to get a licence to operate in Myanmar – by offering to fund green energy projects. CUB, which opened a representative office in Yangon in 2014, says it will seek local partners in such ventures if it gets the licence.

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