Foreign banks will receive permission to operate soon, says vice chair of Myanmar’s Central Bank

U Sett Aung, the vice chairman of the Central Bank of Myanmar told a press conference held in Yangon on September 14 that foreign banks would be given permission to operate Myanmar at some point in late September or early October. Speaking at a press conference for the Myanmar Investment Meeting, held by Peninsula Press, […]

Government to reduce restrictions on business sector by March

The government is planning to reduce restrictions on the business sector in March this year, Tin Maung Than, director of the Myanmar Development Research Institute/Centre for Economic and Social Development (MDRI/CESD) told a press conference on sub-national governments and business in Myanmar held at IBC yesterday. Investors who want to do business in Myanmar have […]

Public Shares in Thilawa SEZ to Go on Sale Next Month

YANGON — Myanmar Thilawa SEZ Holdings Public Ltd announced it will issue shares for sale next month in order to raise about US $21 million to fund the first phase of the Burmese-Japanese Thilawa Special Economic Zone (SEZ) near Yangon. Set Aung, a government official who chairs the Thilawa SEZ Management Committee, and Win Aung, […]

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 […]

Fear of Pagoda Damage Draws Protests at Letpadaung Mine

Yangon — At least 150 rights activists and local residents are urging authorities in northwest Burma to allow them to visit a historic Buddhist pagoda that was allegedly damaged by a blast at the Letpadaung copper mine project last week. Amid rumors that the pagoda was damaged in a blast last Thursday, protests have been […]

Myanmar Thilawa Special Economic Zone to ‘Go Down in History’

Burma’s first special economic zone is set to begin operations next month on a sprawling complex about 25 kilometers south of Rangoon, and Set Aung is playing a major role. As chairman of the Thilawa Special Economic Zone (SEZ) management committee, he has helped oversee preparations to launch the Japanese-backed zone, which is 51 percent […]