MYANMAR EARNS OVER US$ 124 MILLION FROM RICE EXPORTS
Topics: Business Agriculture
Myanmar has earned over US$ 124 million from rice exports between April and August this year, according to reports from the Ministry of Commerce. Myanmar earned more than US$ 97 million from exporting 241,855 tonnes of rice while it realised over US$ 26 million from broken-rice volume of 81,130 tonnes. The rice exports were slow in July because the price rose and traders targeted the local market. The rice was exported to foreign countries not only by sea but also across border...
MYANMAR CONSIDERING PROPERTY TAXES TO STABILIZE SKYROCKETING REAL ESTATE MARKET, DESPITE EXPERTS SUGGESTION NOT TO MEDDLE
Source: International Business Times - (27/08/2013)
Topics: Business Real Estate
Fearful its skyrocketing real estate prices could prevent foreign firms from entering and investing in Myanmar, the government is considering new property taxes to stabilize the market, deter land speculation and increase state income, despite experts urging the government not to meddle. Land prices in Myanmar�s commercial center Yangon, have risen to higher than prices in Manhanttan � the price of one square foot of real estate along Yangon�s main road ranges from $1,000 to $1,500....
MYANMAR APPROVES MANUFACTURING AND DISTRIBUTION OF NISSAN CARS
Topics: Business Automotive
Myanmar Investment Commission has approved the manufacturing and distribution of Nissan cars in Myanmar by Tan Chong Motor (Myanmar) Co Ltd on August 15, according to a report from the Ministry of National Planning and Economic Development. Malaysia-based Tan Chong Motor Holdings Bhd (TCMH), the business partner of Japan's Nissan Motor, has engaged in discussion with Myanmar authorities since last year to manufacture and distribute Nissan cars and spare parts in Myanmar. TCMH Group's...
JAPAN'S ANA TO BUY 49% STAKE IN MYANMAR AIRLINE: REPORT
Source: CNN - (27/08/2013)
Topics: Investments Infrastructure
ANA Holdings intends to obtain the maximum portion allowed under local law as part of a plan to expand its network in Southeast Asia by using Myanmar as a hub, the Nikkei business daily said. The company -- the parent of major airline All Nippon Airways (ANA) -- will spend nearly three billion yen ($30.5 million) for the stake in Asian Wings Airways, the paper said, adding the payment would be made by the end of March 2014. ANA said the company had no comment at the moment. "If any...
FROM MYANMAR TO CHINA, THE CINEMA INDUSTRY TESTS THE LIMITS OF CENSORSHIP
Source: Minn Post - (27/08/2013)
Topics: Business Telecommunications
It�s a soggy afternoon in Yangon , the commercial capital of Myanmar , and a group of young filmmakers are sheltering under umbrellas on set. The director runs through lines with the lead actor � a spotty teenager with a shy smile. Nearby, his on-screen love interest shelters in the back of a car listening to pop songs on her phone. There�s nothing remotely risqué � even by conservative local standards � about the film they are making, a soap opera-style drama about a man having an...
FACTORY OWNERS CONSIDER PRIVATE POWER PRODUCTION
Source: Myanmar Times - (27/08/2013)
The Myanmar Industries Association is urging members to consider alternate forms of private energy production to combat chronic electricity shortages, officials said last week. �Government-supplied electricity is cut regularly,� U Nyan Tun Oo, Yangon Region Minister for Electricity and Industry, told a workshop for association members in Yangon on July 31. �Industry owners face major expenses and challenges getting enough electricity. It�s time for us to consider private production and...
DEPUTY MINISTER DENIES AGRICULTURAL LOANS FOR "RICH" FARMERS
Topics: Politics Agriculture
Agricultural loans will not be provided for farmers who own over 10 acres of land as they are wealthy people who can mortgage their lands, according to Myanmar's Deputy Agricultural Minister. Deputy Minister for Agriculture and Irrigation, Khin Zaw made the comment in his reply to questions raised by MP Aung Thein Linn during a parliamentary session on Wednesday. MP Aung Thein Linn said that since the government provides loans only for a maximum of 10 acres of farmland, farmers who own...
DEEP-SEA PORT TO DOCK 300,000 TONNE OIL TANKERS ON MADAE ISLAND
China has finished constructing a deep-sea port on Madae Island in Rakhine State, according to officials from the ports authority. The port will dock 300,000 tonne oil tankers as part of the Myanmar-China crude oil pipeline which is still under construction. The port was built in joint venture between China National Petroleum Corporation (CNPC) and the Ministry of Energy. "The deep seaport is reserved for 300,000 tonne oil tankers and 26 metres deep oil tankers," said an official from...
CHINA AND MYANMAR VOW TO ENHANCE SCIENCE AND TECHNOLOGY COOPERATION
Source: FMPRC - (27/08/2013)
Topics: Economy Electronics
China and Myanmar agreed on last Friday to enhance science and technological cooperation between the two countries. Chinese Minister of Science and Technology Wan Gang (also as the Vice-Chairman of the CPPCC) and his Myanmar counterpart Dr. Ko Ko Oo signed minutes on enhancing science and technological exchange and cooperation after a meeting on 9 August in Yangon. Wan said in September last year, China and the Association of Southeast Asian Nations (ASEAN) launched a science and...
BURMESE DAYS: WALMART LICKING ITS CHOPS OVER MYANMAR
Source: Facing South - (27/08/2013)
Topics: Business Electronics
Walmart publicly preached "Buy America" three decades ago, and the Arkansas-based retail giant imported less than 6 percent of the products it sold in the United States. By 2006 four-fifths of its suppliers were based in China. Then China's workers began protesting their conditions and eventually got the attention of the Communist Party leadership in Beijing, which feared rising worker militancy in the workers' paradise. Over the past 10 years, blue-collar workers' wages have risen some 400...
There are many neighboring countries which surrounds Myanmar; namely, Bangladesh in the west, India in the northwest, China in the southeast, Laos and Thailand in the East. ... More
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