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New government keen to help increase export three fold
Dr Than Myint, union minister of the Ministry of Commerce, said, during his meeting with representatives from different sectors, the country needs to triple its export figures to strengthen the economy and promised to provide the the required support.
By February 2016 for the financial year 2015-16, Myanmar exported about $10 billion while the import makes up $15 billion for the same period, according to the figures of the Ministry of Commerce. Back in the financial year of 2014-15, the export reached $12 billion while the import was $16 billion.
“The amount (export) is expected to at least be increased two and half times. The export will resume for the small enterprises. The agricultural and small industries will be supported,” said Dr Than Myint.
With the support by the ministry on the required adjustments made on different situations together with the enforcement of law, the increase of the export amount is possible, he said.
Fiber network in Mandalay to secure $15 m investment
A three year project of fiber network is being developed at the metropolitan area of Mandalay using an investment between $15 to $50 million.
The project handled by Eager Communications Group that will be developed on an area of the Mandalay City Development Committee Work is expected to commence by April 2016, Eleven media reported.
The fiber network is expected to cover over 750 kilometers and will be implemented using micro trenching system and manual trenching system.
“The fibers have been laid for about 5 km to 10 km. As the fibers will have a length of 750km, the length to be covered in a year will be about 250km,” said U Htay Win, managing director of Eager Communication Group as quoted saying.
He said that the project will cost about $15 million.
News from: Deal Street Asia