Foreign firms eye new Myanmar telecoms licence despite inexperienced partners

Jan 25 Seven foreign firms are interested in bidding for Myanmar’s fourth telecoms license, a government official said on Monday, as the prospects of one of the region’s least connected nations outweigh the challenges of a partnership involving obscure local firms with scant industry experience. Chit Wai, deputy permanent secretary of the Ministry of Communications […]

Local, foreign firms to upgrade Yangon pharmaceutical factory

YANGON – To boost medicine production, Myanmar’s Ministry of Industry plans to upgrade Pharmaceutical Factory No 1 in Yangon in cooperation with local and overseas companies. At present, entrepreneurs in Myanmar and abroad can bid for contracts to build the facility and install equipment. Interested companies must send an Expression of Interest (EOI) to the […]

Foreign firms sign more oil exploration deals with Myanmar

YANGON, Dec. 6 (Xinhua) — Three Indian companies reached more production-sharing contracts with Myanmar on cooperation in offshore oil and natural gas exploration in Nay Pyi Taw over the last two days. Under the contracts, the Oil India Ltd, Mercator Petroleum Ltd, Oilmax Energy Pvt Ltd of India and Oil Star Management Service Co Ltd […]

Myanmar allows investment by 16 local, foreign companies in October

YANGON, Nov. 5 (Xinhua) — Myanmar allowed 12 local companies and four foreign firms to make investment in the country last month, the Directorate of Investment and Company Administration said on Wednesday. Of the 12 national-owned companies, two are expected to invest in local and foreign air transportation services, while others will build and run […]

Active black market discourages foreign firms, says minister

The prominence of the domestic black market continues to discourage prospective foreign investors from entering the country, according to Minister of Commerce U Win Myint. Foreign firms are worried that black market goods are often sold at unfairly low prices because importers avoid paying import duties and taxes as well as following proper regulations, and […]

Huge growth potential for Myanmar’s insurance industry

One in 86 people in Myanmar has insurance policies. This means huge growth potential, but not everyone is convinced that the country is ready to open the market to foreign firms. YANGON: Myanmar may only allow foreign insurance firms to operate in the country in 2018. The government had earlier signalled it may open the […]

YTP hunting for partners as private launches get close

Yatanarpon Teleport public company (YTP) is still negotiating a potential partnership with foreign firms, according to CEO U Shane Thu Aung. As one of four firms to be licensed to provide mobile coverage in Myanmar, YTP began negotiations with Thailand’s True at the end of 2013 but has since widened its discussions, he said. “We […]

Business hub sets up shop in Dagon

The York Center office building on Yangon’s Yaw Min Gyi Street aims to open its door this month, offering minimum six-month leases to firms looking for office space. Scipio Services has agreed to a management services agreement with the property owner, rather than developing the project through a long-term lease on Build-Operate-Transfer terms often employed […]

Thai firm Double A wins tender for new paper plant in Myanmar

Subscribe to our Tender Alert. We send out email alert on Tender and EOI as it happens. Double A, a Thai firm, announced yesterday that it has won a 30-year contract for an advanced paper plant in Thabaung, which is under the Ministry of Industry, for US$ 80.5 million (Ks 78.32 billion). The ministry had […]

Myanmar Government names firms to run joint venture for state-owned cement plants

Subscribe to our Tender Alert. We send out email alert on Tender and EOI as it happens. The government has chosen thirteen companies, including firms from Thailand and Germany, to establish a joint venture for state-owned cement plants, according to the Ministry of Industry. The Ministry had offered tender to both local and foreign firms […]