TODAY

Citizen investments expected to reach over 38 per cent in real estate sector

CITIZEN investments are expected to reach over 38 per cent in the housing sector in the 2017-18 fiscal years, according to the next Myanmar five-year development plan.

Investment from Myanmar citizen per fiscal year is mentioned in the plan, with over K1.6bn of investments in all sectors in 2017-18. Citizen investments of K629bn are expected to invest in the real estate sector.

Citizen investors have submit required forms and proposal to the Myanmar Investment Commission (MIC) to seek exemption and relief in investment.

Cement factories to become JVs

CEMENT plants under the Ministry of Industry which produce 5,000 tonnes per day will turned into joint ventures (JVs) with public companies, it is learnt form the Ministry.

A total of 56 state owned factories have already been privatized. Korea and China are mostly engaged in the industry.

Over 40 tonnes of coffee to be exported to Taipei and South Korea

OVER 40 tonnes of coffee produced from Ywar Ngan Township are to be exported to Taipei and South Korea, according to the Ywar Ngan Coffee Association. The coffee received 87 out of 100 marks for it’s quality color, fragrance and taste.

The export price to Taipei is US$3,400 per tonnes. Taipei has been offered to make another order again. The Ywar Ngan Coffee has been offered US$3,600 per tonne as a minimum at the world coffee market.

France to provide greater financial assistance

THE French Development Agency (FDA) is to provide more and more financial assistance to Myanmar, with over €200m being poured into Myanmar over two years, according to H.E Mr. Oliver Richard, the French ambassador to Myanmar.

The FDA has been granting loans to assist economic development in rural development projects in Yangon as well as energy and health sectors.

France is major European Union member donor to Myanmar. Currently France also contributes a major portion of monetary assistance for the project that combats three major infectious and parasitic diseases HIV/AIDS, malaria and TB through Global Fund.

Ref: GNLM, 26 July 2016