New Investment Law Hailed as ‘Essential’ to Development

Business leaders have welcomed the approval of a new investment law that they hope will cut red tape and bring an end to concerns that foreign and local businesses are being treated differently. The Upper House approved the Myanmar Investment Law without amendments last week, and the legislation is due to come into effect in […]

Flexenclosure secures order for its eSite hybrid power solution from Myanmar

Flexenclosure has received another order for its green eSite hybrid power solution to be deployed in Myanmar, this time from local fibre infrastructure providerGolden 11. Flexenclosure is a designer and manufacturer of prefabricated data centre buildings and intelligent power management systems for the ICT industry. Its eSite solution has already been installed at more than 1,200 sites across […]

Myanmar-Korea textile zone to create 60,000 jobs

A five-hundred acre textile factory zone, which will reportedly create 60,000 employment opportunities for Myanmar workers, is reportedly to come to fruition through the concerted efforts of Myanmar and Korean business groups. The Myanmar Olympus Asia Developer Group and the Korean PANKO Corporation will be responsible for implementing the project which will see the production […]

Euromoney names KBZ Myanmar’s best bank

KANBAWZA Bank was awarded “The Best Bank in Myanmar-2016” by London-based economics magazine Euromoney, last Thursday at Island Shangri-Lan Hotel in Hong Kong, winning the award for the third year in a row. KBZ Bank was crowned Myanmar’s best bank after it managed to get the highest amount of deposit and make the highest profits […]

New CEO for Norwegian Telco

Telenor Myanmar will have a new chief at the helm starting next month, the company announced yesterday. Lars Erik Tellmann, the telco’s chief financial officer, will take over as CEO from Petter Furberg on August 1. Mr Furberg will remain with Telenor in Asia, but move to a role in the company’s digital business operations. […]

Telenor to roll out 4G in Myanmar as soon as summer

YANGON — Telenor Group will launch fourth-generation cellular service in Myanmar as early as this summer, Petter Furberg, CEO of the Norwegian carrier’s local arm, told The Nikkei. Telenor Myanmar is testing 4G in four cities. The rollout will begin when more spectrum becomes available, Furberg said. Myanmar’s government plans to hold an auction for […]

Myanmar urged to address electricity loss

Myanmar’s electricity authorities need to pay more attention to transmission line maintenance to reduce frequent blackouts, experts said last week. “Technical losses need to be urgently addressed and 100-per- cent electrification is crucial to the nation’s growth,” said Andrew Lee, manager of General Electric Myanmar. Electricity would help Myanmar move forward, but frequent blackouts due […]

Overseas Private Investment Corporation to Disburse $250 Million Investment in Telecom Tower Infrastructure Project

NEW YORK & SAN FRANCISCO & WASHINGTON & YANGON, Myanmar–(BUSINESS WIRE)–The Overseas Private Investment Corporation (OPIC), the U.S. government’s development finance institution, today announced that it has commenced the initial disbursement of a $250 million loan to Apollo Towers Myanmar Limited, based in Yangon. The disbursement marks OPIC’s first financing in the country as well […]

Boozy battle-ground: a turf war brews in Myanmar

At a beer station on Bogyoke Aung San Road, servers traipse from table to table, handing mugs of Myanmar Beer to cheroot-smoking men in longyis. Another beer station in Sanchaung township looks almost exactly the same, but with Dagon Beer decorations and brew dripping from the taps. All over Myanmar, domestic brands such as Myanmar […]

DB Schenker sets up logistics entity in Myanmar

Schenker Myanmar will manage contract logistics business operations for customers in the telecommunications, and consumer goods industries. Schenker Myanmar will have over 80 employees operating the Contract Logistics & warehousing business, while the Yangon Branch of Schenker Thailand will continue to handle freight, customs clearance and transport operations. “Myanmar has seen a significant increase in […]