Monday, August 21, 2017

Why the Myanmar economy is slowing, and how it could bounce back

Economic growth in Myanmar has slowed and the country’s fiscal and current account deficits have swelled over the past 2 years under the National League for Democracy government.

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Over 1,000 SMEs to receive loans

The government has recommended over 1,000 domestic small and medium-sized enterprises (SMEs) to receive loans from banks, according to the Central Department of Small and Medium Enterprises Development (CDSMED).

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Ministry to lift ban on livestock export

The government has signalled its latest measure to boost the country’s agriculture and husbandry industries by offering loans to farms and lifting the ban on livestock export, according to the Ministry of Planning and Finance.

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Myanmar raises the bar

The country is opening up its economy to foreign investors. To do so, it is introducing the Myanmar Companies Bill, extending credit and lifting bans to raise confidence in its economy.

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Myanmar to raise rank on World Bank index in 3 years

Myanmar will aim to increase its ranking on the World Bank’s ease of doing business index from 170 currently to less than 100 within the next 3 years, Vice President U Myint Swe said on July 20. 

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Authorities question trade surplus at Htee Khee border gate

Exports rose at the Htee Khee border gate between the Myanmar and Thai crossing in 2016-17 and appear to be exceeding imports in 2017-18, data released by border trade office showed.

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Garment factory installs rooftop solar PV to fend off rising electricity cost

A garment business in Myanmar installed a solar photovoltaic system in a bid to reduce consumption of grid-based electricity, as electricity prices are expected to increase further in the coming years.

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Deep-sea port needed for delta region to boost logistics

Developing a deep-sea port at the delta region, reforming the customs valuation process and increasing customs’ operating hours are policy recommendations endorsed by an advocacy group.

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Department to call for tenders to upgrade three domestic airports

The Department of Civil Aviation (DCA) is going to call for tenders to upgrade the existing Kawthaung airport in Tanintharyi Region, Mawlamyine airport in Mon State and Heho airport in Shan State.

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National Prosperity Company under scrutiny on gold debt to gov’t

National Prosperity Company (NPC), which operates the national Moehti Moemi mine in Yamethin district, Mandalay, has yet to pay a sum in gold owed to the government, U Phone Myint, deputy director from No. 2 Mining Enterprise under the Ministry of Natural Resources and Environmental Conservation, told The Myanmar Times.

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