News
Dry port sets hopes on Belt and Road
The country’s first dry port will be built near Myitnge, in Amarapura township, Mandalay Region, and join the Belt and Road network, said U Myo Win, general manager from Myanma Railways (Upper Myanmar).“It is a two-year project under UNESCAP agreement between governments,” he said. UNESCAP ...
Supporting SMEs, manufacturing locally and operating in underdeveloped areas criteria for FDI approval, official says
A top official from the Ministry of Commerce told an audience of foreign investors and businesses that foreign investments should be able to support SMEs, manufacture products in Myanmar and operate in underdeveloped areas. Those are the criteria upon which the government will approve or ...
Land compensation issue remains unresolved
Although a verbal promise had been made for compensation to be paid for lands which were seized from a subsidiary of a Chinese firm Wanbao Mining, Myanmar Yang Tse is still operating the Sabetaung and Kyisintaung mines beside Letpadaung.The lands have been seized twice, between ...
Chinese traders prefer Hpakant over Mandalay gems market
Buyers from China have found it much easier to do business in the mines of Hpakant than in Mandalay’s Maha Aung Myay Gems Trading Centre, the city’s largest emporium which features more than 1000 shops, especially if they want to buy raw or uncut jades. “I have ...
European Chamber chief voices scepticism against the BRI
Filip Lauwerysen, executive director of the European Chamber of Commerce Myanmar, wrote to The Myanmar Times and said that the Myanmar government and businesses should be cautious about the BRI, a scheme which he saw as a move by China to align the terms of trade and ...
Myanmar will join Asian forest cooperation organization
The Union Parliament on Tuesday approved the signing of the regional agreement for the establishment of the Asian Forest Cooperation Organization, after President U Htin Kyaw put forward the proposal. Burma’s Ministry of Natural Resources and Environmental Conservation presented the proposal to Parliament last month. The organization was ...
Myanmar's AYA Bank lowers barrier to Visa card
Myanmar’s Ayeyarwady Bank, also known as AYA Bank, announced on Tuesday that it will start issuing Visa cards to a wider customer base. The bank will issue three types of credit cards — silver, gold and platinum. The most accessible card requires a monthly income ...
Myanmar ethnic groups partially agree on federal state principles
Representatives from the Myanmar government, military and eight armed ethnic groups reached agreements on various matters of contention, including the basic principles for establishing a democratic federal system that would give the groups greater autonomy, at the second meeting of the 21st Century Panglong Peace ...
Elderly get timely food, medicines
Poor elderly folk living in Mandalay City are being cared for with medicines and food during this season when temperatures can soar, said U Soe, secretary of the Ma Naw Kyar Phyu Blood Donor and Charity Association. “We help provide essentials to the poor and ...
China and Myanmar to set up border economic cooperation zone
A join-committee for the establishment of China-Myanmar Border Economic Cooperation Zone would be formed within the year in a bid to boost border trade between the two countries, according to the Ministry of Commerce. The committee would be headed by the commerce ministers from both Myanmar and ...
