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Ministry of Trade and Commerce annnounces Myanmar has enough buffer rice stocks

The Ministry of Commerce has guaranteed that there will be enough buffer stock,5 million metric tons of rice, for domestic consumption until the next harvest in November 2015. According to the ministry figures, Myanmar grows about 17 million acres of rice per year, and the yearly harvest is...

Yangon Public Bus company NOT to seek MIC approval

The Yangon Public Bus Company will not be seeking approval from the Myanmar Investment Commission(MIC). Dr. Mg Aung, who is leading the efforts on the Yangon Divisional Government side told us that operations should be up and running before the end of 2015. Since the government is taking an active...

Serge Pun's SPA leads the 2015 Myanmar Companies transparency List

According to the Pwintthitsa Report published by Myanmar Center for Responsible Business (MCRB), Serge Pun and Associates (SPA) have surged to the top of the list of Myanmar companies in the year 2015. The report reflects the transparency of businesses in Myanmar and is compiled by UK and Denmark...

Thai firm lands Industrial waste water treatment contract in Mandalay

The Mandalay City Development Committee has announced that an agreement has been reached with a Thai-based company to treat the waste water from factories in the Mandalay Industrial Zone. Hydro Supreme Mandalay Company and the Mandalay City Development Committee signed a contract on the morning of...

Japan to get fully involved in 2nd stage of Dawei SEZ development

U Sett Aung, Chairman of the Dawei SEZ Management Committee, has said that Japan will only become a part of the SEZ development in the 2nd stage. After a MOI was signed at the Mekong-Japan Summit on the 4th of July, Japan officially became the third joint-investor of the project. He further said...

IMF warns of Myanmar economy slowdown

On the 1st of July, the International Monetary Fund (IMF) has warned that the Myanmar economy faces the danger of a slowdown. The appreciation of the dollar coupled with the fall in natural gas prices meant that Myanmar's budget and external transactions positions are weaker than ever before. High...

Minimum wage provisionally set at 3,600 Kyats per day

The minimum wage has been provisionally set at 450 Kyats per hour and 3,600 Kyats per day after more than two years of processing. The rate will be across the board, applying to all industries and geographical areas, said the National Committee on the 29th of June, with the exception of small...

South Korean Garment Manufacturers Association President speaks out on the Minimum Wage

Mr Won Ho Seo, President of the South Korean Garment Manufacturers' Association has stated that the proposed hike in the minimum wage to Kyat 3,000 to 4,000 per day could mean factory closures in Myanmar. He said it was unfeasible and would lead to mass closures. Should the Myanmar government go...

Offshore Logistics Stations to be Built

The Ministry of Energy has stated that offshore logistics stations will be built within this year to support oil and gas exploration efforts in Myanmar waters. Expression of Interest was sought in May and 52 companies, both domestic and international, have submitted their EOI's. U HtayAung, the PR...

Kyaukphyu SEZ stalled by Developer selection process

The Kyaukphyu SEZ management subcommittee has stated that the SEZ has not been developed yet due to the delays in the tender process for the major Developer. It was slated to begin the development in March of this year. The originally set date of selection, at the end of the year 2014, was...

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