The World Bank Group (WBG) and Myanmar government have agreed to a two-year extension of the Country Partnership Framework (CPF) with up to US$1.2 billion in financing, according to a press statement from the World Bank on June 23, 2017. The focus would be on rural growth, social services, health care and job creation. Over […]
Read MoreThe government will issue a general car importation policy within the year to put an end to the current confusion in the industry, Commerce Minister U Than Myint told The Myanmar Times. At present, there are several policies related to car importation. This has created confusion among the “legitimate vehicle importers” and the government will seek […]
Read MoreSouth Korea and Myanmar have reached an agreement to establish an industrial zone in northern Yangon, and constructions will begin in early 2018, Daw Moe Thida, assistant director of the Department of Urban and Housing Development (DUHD), told The Myanmar Times on June 21. At Nyaung Na Pin township, the industrial complex project will have an estimated […]
Read MoreThe Myanmar government urged EU companies to invest in the country’s energy sector as industry insiders noted that gas exploration is one of the biggest opportunities in the power-hungry Southeast Asian country. Xavier Preel, general manager of Total E&P Myanmar, said energy and infrastructure are the two main priorities of the current government. “Our counterpart […]
Read MoreThe import volume has increased by US$600 million, compared to the same period from the previous fiscal year, according to 2017-18 trade statistics up till May from the Ministry of Commerce (MOC). Total trade volume from April 1, 2017 to June 2, 2017 is $5.07 billion – an export of $1.9 billion and import of $3.11 billion. When compared to last year’s performance, export increased by about $100 million while Myanmar imported […]
Read MoreThe Myanmar Investment Commission (MIC) has approved a total of US$1.85 million worth of investments from 66 foreign businesses and K501 billion worth of investments from 24 Myanmar citizens for fiscal year 2017-18. In June alone, the MIC approved investments worth US713.43 million from 22 foreign businesses and K11.425 billion investment from four Myanmar citizens, according […]
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