World Bank weighs in on selecting audit firm for EITI report

Besides the tripartite – government, the company and civil society organisations – responsible for piling report for implementing Extractive Industries Transparency Initiative (EITI), the World Bank (WB) joined in selecting independent audit firm. “We have opened tender for audit firm from abroad, and before long the World Bank joined us. According to procedure, the tender […]

Serviced Apartment Market in Yangon 3Q, 2014

Subscribe to our Myanmar Property Mailing List and get notified immediately whenever we have a new report Research & Forecast Report Yangon | Serviced Apartment Market 3Q 2014 Chronic future undersupply as expats swell As at the end of 3Q 2014, the total supply stock of serviced apartments in Yangon improved by 2% quarter-on-quarter following […]

Myanmar tourism to earn US$900 million in 2014

Myanmar has seen a five-fold increase in tourism income over the last decade with the sector pulling in US$905 million in 2014, according to a report on the sector, released on November 30 from the Ministry of Hotels and Tourism. The country brought in US$171 million in 2004 in comparison with US$905 million in 2014, […]

Japan’s Toyota leads in Myanmar auto sales

Leading Japanese vehicle maker Toyota is still dominating Myanmar’s growing automobile market with a 53 percent share compared with top-notch Korean and Western automobile brands, according to an online survey released October 13. Yangon-based conducted an online survey from October 6 to 10 based on online trading on its website, the’s Country Manager […]

Bringing banks to the poor

Changes need to be made to promote financial inclusion particularly among the poorest, according to a report by a joint team including several United Nations organizations. Some 15 percent of adults are currently borrowing an estimated US$3.9 billion from unregulated money lenders in Myanmar while less than 5pc of the population have formal bank accounts. […]

Number of hotels reach 1000

The number of hotels in Myanmar has increased to 1,000, according to a report from the Ministry of Hotels and Tourism. The country presently boasts six five-star, 17 four-star, 83 three-star, 116 two-star and 102 one-star hotels as well as the ministry-approved 599 hotels, motels and inns. The combined capacity is at 38,722 rooms, considered […]

Investment in Rice Milling Key to Boosting Export, Report Says

YANGON — A new World Bank report said Myanmar can greatly increase its agricultural exports if it can improve the quality of rice through investments in rice mills, while it should also reduce transport costs and formulate policies to support rice export and agricultural production. Myanmar’s reformist government aims to improve agricultural productivity and rice […]