Friday, September 30, 2016
The Myanmar Times
The Myanmar Times

Local firms struggle to access foreign loans

Local firms are finding it hard to take advantage of Central Bank regulation allowing them to borrow from abroad, because international lenders lack sufficient information to assess their credit worth, according to financial industry heads.

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Chin State to focus on trade, SMEs and tourism

The Chin State government will focus on developing three main areas of the local economy over the next five years – trade, small and medium enterprises, and tourism – according to the state minister for development, electricity and industry.

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Tanintharyi rejects bid to export sand to Maldives

The Tanintharyi Region government has rejected a recent proposal by Salt International Company to extract sand from Myeik district and export it to the Maldives, the region’s chief minister told The Myanmar Times yesterday.

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MPs discuss reforms to loss-making Myanmar Economic Bank

The country’s largest state-owned bank has been loss-making since 1988 and reforms are necessary to help it become profitable again, parliament heard on August 23.

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Finance ministry hopes to rely less on Central Bank

The government is hoping the start of Treasury bond auctions in multiple denominations will allow it to rely less on selling government debt to the Central Bank, U Maung Maung Win, deputy minister for planning and finance, told a Pyidaungsu Hluttaw session on August 23.

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The race to build a supply base

With oil and gas majors planning to ramp up their Myanmar operations the need for a local offshore supply base is becoming critical. Myanmar Oil and Gas Enterprise (MOGE) is preparing to issue a tender to build and operate multiple bases, while a Singaporean joint venture is hoping to receive approval for its own supply base in the next few months.

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Small industrial zones lack government support

Investment should be directed toward upgrading the country’s ageing industrial zones, as the government contemplates launching new ones, say Yangon industrialists.

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MIC approves new projects worth $100 million

The Myanmar Investment Commission (MIC) has approved nine new projects in its fourth round of licensing since the new government took power.

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Myanmar records $1.5b trade deficit in first four months

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.

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Policy silence hits car import demand

The market for imported luxury cars has been severely damaged by the government’s failure to provide direction on its import policy, according to showroom managers.

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