Myanmar transportation, infrastructure weakest in Southeast Asia: World Bank

Myanmar has the weakest transportation and infrastructure in Southeast Asia, according to a report by the World Bank Group. Myanmar ranked 137 among 160 countries in the transportation index in 2014, giving it the lowest position among Southeast Asian countries. Moreover, only 33 per cent of households in Myanmar have access to electricity, while 60 […]

Laos to share hydropower development expertise with Myanmar

VIENTIANE, Aug. 13 (Xinhua) — A hydro-electric-powered energy revolution has been afoot in South-East Asia over recent years with the movement of fresh and fast-flowing waters increasingly fueling the consumption of larger amounts of energy resources to spur socio-economic development, poverty reduction and improvements in both urban and rural areas. The region’s most diminutive nation […]

Myanmar can potentially grow at 8%: WB

India may not be the only growth story in the midst of a global economic slowdown. According to the World Bank, Myanmar’s economy has the potential to grow rapidly, up to around 8 per cent per year in real terms over the next 5 years. With the right policy choices, a growing economy can provide […]

Carriers soup up networks as new rivals come knocking

Myanmar’s wireless market is embarking on a new chapter, now that the bulk of the country’s population is connected. Norwegian telecom company Telenor runs this cellphone shop in Yangon. The Southeast Asian nation’s mobile penetration rate has shot up from 9% at the end of 2013 to an estimated 70% or so. Auctions for new […]

Upper Paunglaung hydropower project opened in Sittang River valley

Myanmar’s 140-MW Upper Paunglaung hydropower project officially opened this week in a ceremony that included officials from the country’s Minsitry of Electric Power and President U Thein Sein. Located in central Myanmar along the Paunglaung River, the $24 million plant will help meet the country’s demand for power, which is increasing about 15 percent per […]

Sembcorp lands $422m deal to develop power plant in Myanmar

Sembcorp Industries has landed its first deal in Myanmar – a contract to develop a gas-fired power plant. The US$300 million (S$422 million) project, which will be the nation’s largest privately developed gas-fired power plant, will sell electricity to the state-owned utility when completed by 2018. The plant, in central Myanmar near Mandalay, will deliver […]

Fullerton Myanmar welcomes IFC’s investment, expanding access to microenterprises

Fullerton Finance (Myanmar) Company Limited, a licensed microfinance company in Myanmar, announced that IFC, a member of the World Bank Group, has made a $1.2 million equity investment in the company to help the microfinance provider expand lending to smaller businesses and individual borrowers. Myanmar’s financial system is in an early stage of development. Just […]

Start-up competition gets going in Yangon

More than 200 people came to participate in a StartUp Challenge hosted by downtown innovation lab Phandeeyar on November 14, with entrepreneurs looking to launch businesses in e-commerce, mobile and more. The nine-day event, held in conjunction with Myanmar’s fourth annual Global Entrepreneurship Week, urges budding entrepreneurs to turn brainstorms into businesses. It also gives […]

IFC signs services agreement for hydroelectric development with Myanmar

World Bank Group member, International Finance Corp., in September signed an advisory services agreement with the government of Myanmar to help improve environmental and social risk management in hydropower projects, according a press release from the IFC. Myanmar has recently approved a new electricity law and is finalizing the procedures for environmental impact assessment. The […]

Loans grow to SMEs, but still not enough to ease concerns

Small entrepreneurs face a tough slog to receive bank loans. The World Bank’s 2014 Enterprise Survey listed access to finance as the largest single concern of local business, ahead of troubles accessing land, electricity and skilled workers. Domestic loans usually come with short terms and have a high bar for collateral. U Zin Phyo Paing, […]