News

Agricultural sector and SMEs to receive private bank loans

The Central Bank of Myanmar will make it compulsory for local private banks to grant a minimum percentage of their loans to the agricultural sector and the small and medium-sized enterprises sector, Central Bank director general U Win Thaw told the Myanmar Times. During a meeting held by ...

Exports prioritised to meet trade target

According to official figures from the Ministry of Commerce, trade volume reached US$23 billion until the end of January in this fiscal year. The ministry has set the target trade volume to be $31 billion, therefore the ministry will continue trying to achieve its target ...

Joint trade commission to foster links with Bangladesh

Bangladesh is rushing to push forward a draft proposal to form a joint trade commission with Cambodia that is expected to be signed this year, an official from Cambodia’s Commerce Ministry said on February 12. Soeng Sophary, spokesperson for the Ministry of Commerce, said that ...

Somkid promises responsible Thai investments in Myanmar

The business communities of Myanmar and Thailand have been encouraged to foster economic cooperation by Thai Deputy Prime Minister Somkid Jatusripitak’s high-level business delegation. last Friday delivered a speech at the Thai-Myanmar Business Cooperation Forum, which gathered hundreds of business people from both countries. There, he assured ...

Commerce ministry cracks down on unreported export earnings

The Ministry of Commerce is working with the Central Bank to crack down on unreported export earnings, according to Union minister U Than Myint. The government has adopted a multi-pronged strategy to try to counter the volatile US dollar-kyat exchange rate, which has prompted widespread complaint ...

Cambodia eyes Swedish trade

Cambodia is seeking to expand its market for milled rice to Sweden and is looking for ways to cooperate further in trade and investment. Prime Minister Hun Sen, at the World Economic Forum in Switzerland, yesterday asked his Swedish counterpart Stefan Lofven to consider rice imports ...

Japanese investment in light industry desired

Cambodia hopes to see Japanese investment in the light industry sector, which will help develop the kingdom’s labor force. Minister of Commerce Pan Sorasak, in a meeting last week with Japanese Ambassador to Cambodia Hidehisa Horinouchi, asked Japan to consider investing in the light industry ...

Garment firms focus on social responsibility

Unions are welcome, and could help garment factories improve their corporate social responsibility functions, a leading manufacturer has said. U Aung Myo Hein, central executive committee member of Myanmar Garment Manufacturers’ Association, told The Myanmar Times that many factories in Myanmar had missed out on ...

Draft consumer law completed

The Ministry of Commerce has finished the draft consumer protection law and will soon submit it to the Council of Ministers, according to a senior government official. Mao Thora, the ministry’s secretary of state, said yesterday that all chapters of the draft had been completed ...

Crisis relief measures hammered out

The government has teamed up with construction material and consumer product companies to offer special discounts to flood victims in the southern provinces. Wiboonlasana Ruamraksa, permanent secretary for commerce, said the traders agreed to the discounts following talks with the Commerce Ministry. The reductions will ...

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