Fuel sector tops foreign investment list

The oil and gas, transport and telecommunications sectors topped the foreign investor list, with US$4.9 billion invested by the end of December during this financial year. Oil and gas came top with US$2 billion, followed by transport and telecommunications. Twenty countries, including Singapore and China, invested in these sectors. Last financial year, the total foreign […]

Yangon Stock Exchange to Launch in December

The Yangon Stock Exchange is set to launch on Dec. 9, an official said on Monday, after three years of preparations to modernize Burma’s financial sector. Addressing CEOs and executive directors of ten underwriting firms, Chairman of the Securities and Exchange Supervisory Committee and Deputy Finance Minister Maung Maung Thein said the exchange, known as […]

Mogok residents hope to reclaim ruby trade

Mogok residents want one thing from the incoming government: the right to take back their rubies. Gem traders living and working in the Mandalay Region township, famed for the quality of its rubies, say most local mines are run by outsiders. Now they want the incoming National League for Democracy government to grant more operating […]

WHA eyes expansion into Asean, Myanmar

Stock Exchange of Thailand-listed WHA Corporation will set up fully integrated models in its four core businesses to meet expanding investment in ASEAN, though Myanmar investment will depend on the final election result. The company has restructured its operation over the past year to increase its efficiency, compete better internationally and meet rising demand, said […]

Bank of Tokyo Mitsubishi UFJ (BTMU) gears up for real time settlement in Yangon

Bank of Tokyo Mitsubishi UFJ (BTMU) is preparing the systems at its Yangon branch to be “operational-ready” for the Central Bank’s new settlement system. The Japanese lender, through the Japan International Cooperation Agency (JICA), is working with the Central Bank on its soon-to-be launched Real Time Gross Settlement (RTGS) system, said Go Watanabe, CEO of […]

Permitted investments, local and foreign, on the increase

They were commenting on the announcement by the Directorate of Investment and Companies Administration (DICA) that Myanmar Investment Commission (MIC) had permitted 204 local and overseas investments in the first six months of the current financial year. MIC handed out 27 permits in September alone. The 204 permits granted so far this year represent a […]

No foreign-local joint ventures to list on YSX at first

Joint ventures between local and foreign companies will not be permitted to list on the Yangon Stock Exchange at first, according to Dr Maung Maung Thein, chair of the Securities Exchange Commission of Myanmar. While the rules will eventually be changed to allow for foreign-local joint ventures to sell shares, that may be some time […]

Tender Notice for Renovation Works to the Singapore-Myanmar Vocational Training Institute. Closing Date 27 Jan 2015

Subscribe to our Tender Alert. We send out email alert on Tender and EOI as it happens. TENDER NOTICE FROM EMBASSY OF THE REPUBLIC OF SINGAPORE RENOVATION WORKS TO THE SINGAPORE – MYANMAR VOCATIONAL TRAINING INSTITUTE (SMVTI) IN YANGON, MYANMAR (NATMAUK ROAD, BAHAN TOWNSHIP) The Embassy of the Republic of Singapore – Myanmar (hereinafter the […]

China tops investor list

China is the top investor in Myanmar so far this year, according to the Directorate of Investment and Company Administration. Until the end of October, total foreign investments exceeded US$50 billion, of which US$40 billion is operating in the country. Myanmar Investment Commission (MIC) is giving the green light to local and foreign companies in […]

State energy firms to professionalise

The Ministry of Energy is planning to pursue more joint ventures with foreign companies, as senior government officials have urged state-owned enterprises to professionalise or risk being reformed. The energy sector includes a prominent set of state-owned firms, but tentative steps to modernise through forming joint ventures with foreign firms have already begun. The fuel […]