Historic Konbaung era Kway Chaung fort needs base camp for visitors

A base camp at the historic Kway Chaung fort of the Konbaung era kings is necessary for tourist recreation and business opportunities, U Kyaw Myo Win, director at the Ministry of Religious Affairs and Culture (Bagan Division) suggested.

Kway Chaung fort was built in 1860. It took three years to build it and it was a historic site as the British naval vessels had to overcome it difficultly due to its strategic location.

Built a year earlier than near-by Minhla fort, Kway Chaung fort was systematically constructed with a specific location for fighting elephants.

“It is a big Konbaung era fort with a very good architect. It needs a base camp for visitors to rest at a distance from the fort without disturbing the view. From this camp, business opportunities for locals such as gift shops, cold drinks, a rest hall or toilets can be arranged. This will reduce the need for public to eat and relieve oneself inside the fort,” he said.

A fort like Kway Chaung, if it were in Europe, could seek world heritage status and there are many forts that have been designated as world heritage sites.

Source: The Global New Light of Myanmar

350 gem trading licences set to expire in Feb

A total of 357 gem trading licences are due to expire in February, Myanma Gems Enterprise notified.
Under the approval of the Ministry of Natural Resources and Environmental Conservation, those holding available licences (gems and jewellery trading licences, manufacturing licences for finished gems and carvings and rough gemstone and finished products trading licences) issued by the Myanma Gems Enterprise need to proceed to the renewal process three months before the expiry date. They must renew them at least one month before the expiry. Additionally, they can notify Myanma Gems Enterprise of winding down a business with one-month notice before ceasing the operation.
Licence renewal applications can be processed at Myanma Gems Enterprise (Nay Pyi Taw), Gems and Jewellery Museum in Yangon and Mandalay office, mining departments in Mogok, Lonekhin/Phakant, Monghsu and Myitkyina areas, in line with the rules and regulations. Those businesspersons holding expired licences in 2020 and 2021 were urged to reinstate them by the end of December with the relevant departments on 22 September 2023. The licences would get revoked unless it is renewed, Myanma Gems Enterprise notified. 

Source: The Global New Light of Myanmar

Kyat-US dollar exchange rate stable at around K3,450

Kyat value against the greenback has remained unchanged at approximately K3,450 at the Over-the-Counter market since early December 2023.
Meanwhile, the reference exchange rate of the Central Bank of Myanmar is K2,100.
On 5 December, the CBM allowed authorized dealers (private banks) to operate forex exchanges freely as per the market rate determined by the market force of the supply and demand.
Additionally, the CBM notified that outward remittance must comply with the rules and regulations of the Foreign Exchange Management Committee.
The dollar gained to around K4,000 on 19 August 2023.
Under Section 9 of the Foreign Exchange Management Law, only those entities holding foreign exchange dealer licences are allowed to deal in foreign currency and traveller’s cheques. Those holding foreign currencies without valid licences and permits will face legal actions under the law, according to the CBM’s notification released on 21 August 2023.
According to the notification (7/2014) dated 30 September 2014 issued by the Central Bank of Myanmar, affirmingly stating that under clause 15 of the Foreign Exchange Management Law, domestic residents are allowed to keep US$10,000 in maximum or equivalent amount of foreign currencies for six months. If those foreign currencies that have been unused for over six months have to be exchanged in local currency at the market price through authorized dealers or deposited into bank accounts.
Those illegally holding foreign currencies are to face legal actions under the Foreign Exchange Management Law, the CBM warned again. 

Source: The Global New Light of Myanmar

MR to construct warehouses, distribution centres at railway stations

Myanma Railways under the Ministry of Transport and Communications has stated that the Small Warehouses and Distribution Centres will be constructed on the railway sections.
The construction and operation of these centres related to the transport of goods by train will be launched with the principle of a five-year package system at the ten railway stations including the Thilawa-Toegyounggale-Yangon circular train route as well as the railway sections of Yangon-Pyay, Yangon-Mandalay, Yangon-Mawlamyine and Thazi-Myingyan.
Myanma Railways has invited tenders for these projects and those interested can purchase tender forms at the office of the Deputy General Manager (Logistics), Myanma Railways, at Corner of 51st Street and Merchant Street, Botahtaung Township, Yangon, during office hours between 1 and 15 January. The price for a set of tender forms is K500,000 and the deadline for submitting tender proposals is at 2 pm, 1 April 2024.

Source: The Global New Light of Myanmar