Monday, September 25, 2017

U Set Aung appointed deputy minister of Planning and Finance

Incumbent Central Bank Deputy Governor U Set Aung on Monday was appointed as deputy minister of the Ministry of Planning and Finance, the Office of the President announced.

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Forthcoming ASEAN-HK FTA to connect Myanmar with Belt and Road finances

Hong Kong’s new chief executive will fly to ASEAN tomorrow, in her first official overseas visit as leader.

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Timber industry faces challenges in the voluntary partnership agreement process in forest governance

The lack of transparency and accountability together with the issues of corruption, an overwhelming wood demand and land rights are still posing challenges for the timber industry’s Voluntary Partnership Agreement in forest governance, said U Kyaw Zwar, director of the Forest Department. He made the remarks during a workshop on July 25.

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Can the central bank’s new guard save businesses in Myanmar?

The Central Bank of Myanmar will soon welcome three new deputy governors and five board members to its rank after the incumbents complete their tenures.

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Government needs K300 billion for electricity supply

The Government needs an estimated K300 billion to supply electricity throughout the country for financial year 2017-2018, U Myint Oo, deputy director general of the Electricity and Energy Ministry’s Department of Electric Power told The Myanmar Times.

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Ford to locally distribute new, cheaper cars with Yangon license plates

Ford’s new assembly plant in Yangon, officially launched on July 21, will enable the US car maker to sell two new models at lower prices. As they will be assembled and distributed locally, customers will be able to obtain Yangon license plates for the cars.

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How technology is changing the face of Yangon’s taxi industry

Uber and Grab, the two latest entrants to the Yangon taxi industry, are upping their game in a battle for market share in Myanmar.

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Timber group replaces sub-contractors with service providers

The state-owned Myanma Timber Enterprise (MTE) will undertake extraction activities with the support from service providers, according to an official from the organisation.

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UK businesses keen to help modernise Myanmar’s railways and airports

UK businesses are keen to leverage their strengths and expertise to support Myanmar’s transport and infrastructure development, the UK Prime Minister’s Business Ambassador told The Myanmar Times.

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Sugar industry at brink of collapse after China buyers pull back

Over 800,000 tons of sugar has accumulated in the local market since China stopped importing from Myanmar.

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