The trade value of Myanmar has declined by over US$765 million over the past five months of the mini-budget period of the current 2021-2022 fiscal when compared to the same period of the previous year, according to the figures released by the Ministry of Commerce. From October 1, 2021 to February 18, 2022, the..
The Upgrading of a combined cycle gas turbine power plant in Ywama, Yangon, has been given the go-ahead by the Ministry of Electricity and Energy (MOEE). The Power plant is located in Insein township, and the US$300 million required for the upgrading will be provided by the World Bank. A tender for the project will..
The Myanmar Investment Commission (MIC) on July 31 approved the US$230.6 million Hlegu Industrial Park, which will be developed by Singapore’s Sembcorp Industries. The project, set to cover some 1487 acres in Hlegu township, Yangon, was signed between Sembcorp CSSD Myanmar Co and local partners City Mart Holding Co Ltd (CMHL), and Myanmar Agribusiness Public..
Revenue from the Myanmar oil and gas sector will decline in fiscal 2020-21 as a result of COVID-19, Deputy Minister for Planning and Finance U Maung Maung Win told the Pyidaungsu Hluttaw. This is because global oil prices have fallen, leading to a decline in gas prices and production at four of Myanmar’s offshore gas..
Myanmar has moved to protect local producers from overseas competition as growth projections for the country’s economy are slashed due to COVID-19. The president Office released notification (83/2020) on July 1, stating that the law of Protection from Increased Import Volume enacted in 2019 will take immediate effect. The law is expected to promote..
The Mant Wain trading gate in Muse has been closed since April 5 as both governments take more stringent measures to prevent the spread of COVID-19, said U Khin Maung Lwin, assistant secretary of the Ministry of Commerce. China no longer allows Myanmar truck drivers to cross into Yunan so Mant Wain, which is the..
China will provide US$6.78million (K9.45 billion) to Myanmar for 22 projects under the Mekong-Lancang cooperation initiative, the Ministry of Foreign Affairs announced on Monday. The Mekong-Lancang Cooperation Special Fund is a cooperation mechanism set up by China that involves Cambodia, Laos, Myanmar, Thailand and Vietnam with the aim of promoting cooperation in the areas..
The current Kan Paik Ti border trade area. Chan Mya Htwe/The Myanmar Times The Kachin State government this month signed an MOU with Myanmar Hein Investment Development Co to develop a border trade zone at Kan Paik Ti township in Waingmaw, Kachin State, which is near the Myanmar- China border. Myanmar Hein Investment is..