Translation - English World Bank predicts Myanmar Economic raise up eight percent in this year
World Bank country representative predicted that Myanmar economic development will increase eight percent in 2016-2017 fiscal year.
“To increase economic development in Myanmar, it is relied on two major things_ one is foreign investment potential with economic opportunity and another thing is manufacture growth in this year,” Addoulaye Seck, World Bank country representative, told Myanmar Business Today.
The current agribusiness and other manufacture sectors are still required technical assistance and also sufficient mechanical equipment to boost the sectors.
“Higher technical support and sufficient mechanical equipment assistance can guarantee for tripling manufacturing volume than current situation,” he added.
The World Bank studied on Myanmar economic doing research and survey on 700 Myanmar domestic entrepreneurs and released an analysis paper that said disadvantage and advantage of investment and environment.
“During our research and survey process, we find out more or less requirement and challenge in each sector. Among of them, capital insufficient, electricity infrastructure, land conflict, and skilled labors, are common issue to handle by the government,” Addoulaye said.
According to economist Dr. Aung Aung Ko Ko, possession of foreign currency also take important role to handle infrastructure requirement likely to be port, road, and electricity for the sake of promoting foreign investment which support for country economic development.
“Trade flow volumes rely on well-founded infrastructure and then more trade flows to economic development,” he added.
Additionally, union minister for commerce, Dr. Than Myint, pledged to boost triple export volumes during his tenure to be stronger economic.
Likely to the World Bank forecast, Asian Development Outlook 2016 said that Myanmar economic development would raise 8.4 percent in 2016-2017 fiscal year and it would be rapidly highest development among ASEAN.
Burmese to English: Roanu recovered mango damaged loss in upper Myanmar General field: Bus/Financial Detailed field: Media / Multimedia
Translation - English Roanu recovered mango damaged loss in upper Myanmar
Due to torrential rain, hailstone falling, and storm during April 22 and 23, it hit hundred acres of mango farms upper Myanmar.
In contrast to damage, the Roanu storm brought rain earlier than normal monsoon season which caused the mango farms sufficient water supply. Therefore, the farmers assumed that the rain can bring the quality mango production as well as higher price.
“Sufficient rain can improve mangos higher quality and weight as well as better appearance. Mango weight with no rain may be 400 gram, and after raining, the weight will be 700 gram,” a mango farmer from Hopone Town, Southern Shan State, U Khum Tun Win, said.
The Mango harvest season is annually on April. Concurrently, the hailstone and storm destroyed Myanmar main mango production regions, after water festival in the late of April.
Caused by the worse weather, on April 26 it hit mango farms 1,241 acres in Matayar, Patheingyi, Amarapura, Tadaoo, Sintgaing and Kyaukse townships, major mango production townships in Mandalay Regions.
The damaged mangos were exported to China via Muse and in China market, it earned lower price.
“Because of rain, mango quality and appearance as well as weight become improved and we earned attractive profit. That is why, it recovered the loss during damaged mango export,” chairman of Myanmar Fruit, Flower and Vegetable Producer and Exporter Association (MFVP), U Soe Than Min Din, told Myanmar Business Today.
There are 200 sorts of mango, among of them Myakyauk, Sein Ta Lone, Ma Chit Su and Shwe Hin Tha, are market favorites with higher price.
Myanmar mango exports mostly go to China, 15 and 16 kilos mangos basket charged 100 to 130 Yuan.
Mango export to China via Muse 105 mile trade zone 27,340 tons in 2015-2016 and 8,249 tons in 2016-2017 April first and May 13, Muse Fruit Commodity Trade Center’s data said.
Years of translation experience: 11. Registered at ProZ.com: Jun 2016.