Outgoing Government Gives Wharf Concession to Tycoon’s Shipping Firm

Burma’s Port Authority has awarded Kaung Myanmar Aung Shipping Co. Ltd. the right to develop a new area for cargo ships to dock on downtown Rangoon’s riverside, state media reports. The company is part of the sprawling KMA Group, which is headed by Burmese tycoon Khin Maung Aye, known to be close to outgoing President […]

Foreign investors compete for mixed-use Yangon project

Eight foreign companies from five countries are bidding to develop a 2-acre plot of land in Yangon owned by the Myanmar Construction Entrepreneurs Association, according to chair U Tha Htay. Prospective investors have made a number of proposals for the site at the corner of Waizayanda and Thanthumar Roads in Yangon’s Thingangyun township, including for […]

Siam Wellness set to penetrate Yangon spa market

Siam Wellness Group Plc, one of the biggest spa chains in Thailand, will launch its first luxury spa outlet in Yangon by the fourth quarter of this year. Assistant managing director Narun Wiattanakrai told The Nation that the company expected to sign a memorandum of understand with an international hotel chain by the middle of […]

3 firms get permits to operate hotel businesses

The Myanmar Investment Commission (MIC) has granted permits to three local companies to operate hotel businesses in Nay Pyi Taw, Kayin and Rakhine regions. The three local companies are Max (Myanmar) Hotel Co Ltd to operate hotel servicing business in Nay Pyi Taw, Snow Diamond Co Ltd in Hpa-an Township, Kayin State, and Eden Hotels […]

Regional government happy to keep the bribes flowing

On December 12, Yangon Region Hluttaw representative U Thaung Kyaw submitted a proposal to “make a law and allow massage parlours in Yangon Region to operate according to a legal framework”. The proposal was defeated. But it’s worth looking more closely at the points made by U Thaung Kyaw and Daw Nyo Nyo Thin, who […]

Myanmar may allow foreign insurers to do business in Yangon

The Myanmar Government is, reportedly, planning to allow foreign insurance firms to operate in the country, initially in a special economic zone southeast of Yangon. Nikkei Asian Review reported that a high-ranking official has notified insurance companies of the government’s decision. As part of the plans, foreign companies that are already existing in the country […]

No additional licenses for beer and cigarette factories, says MIC

The Myanmar Investment Commission (MIC) announced on December 2 that no more permissions will be granted to beer and cigarette manufacturers to operate in Myanmar. Carlsberg and Heineken were the last, according to the MIC. “In the local market, beer and cigarettes are in demand. If we don’t supply the consumers’ demand, these items will […]

Japan weighs in on Dawei SEZ project

Japan pledged to take part in Dawei Special Economic Zone project and the Italian-Thai company plans to operate smaller projects, according to Aye Myint, chairperson of the special working committee for Dawei SEZ. “We’re holding talks with the Italian-Thai and its partner company to operate some smaller projects such as roads, ports, housing, mini industrial […]

Foreign banks to be picked in September

Which foreign banks will be allowed to operate in Myanmar will be selected in September, though their licences will initially contain significant restrictions, Central Bank of Myanmar deputy governor U Set Aung confirmed in parliament on June 25. Requests for interest were sent to the foreign banks’ local representative offices in May, starting the process […]

Ooredoo partners with Rocket Internet for online services

The Ooredoo Company announced it will link up with Rocket Internet to operate e-commerce, online and digital services in Myanmar and Asia. Ross Cormack, the CEO of Ooredoo Myanmar said, “E-commerce has a great potential in Myanmar along with increasing numbers of smart phone usage. People will shop commodities and services online with their smart […]