Myanmar to Grant Foreign Banks Licenses by End of September

YANGON — Myanmar will grant foreign banks limited operating licenses by the third quarter of this year, in a bid by the country’s semi-civilian government to attract foreign investment into an economy just emerging from decades of military rule. An official document sent to more than 30 foreign banks with representative offices in Myanmar, and […]

Mandalay leads tourism sector with 302 new hotels

Mandalay Region leads other cities and tourist destinations in Myanmar with 302 new hotels approved, according to data from Ministry of Hotels and Tourism. Out of 960 hotels granted operating licences across Myanmar over the last year, 302 have been opened in Mandalay while 238 have opened in Yangon Region. The data released by the […]

Telcoms Seen Taking Growing Share of Myanmar’s FDI Pie

NAYPYIDAW — The Myanmar Investment Commission expects that foreign direct investment in Myanmar will reach between US$4 billion to $5 billion in the coming 2014-15 fiscal year, with the country’s telecommunications sector seen as a rising star in attracting overseas business interest. Aung Naing Oo, director-general of the Directorate of Investment and Company Administration and […]