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Minister calls for policy change in power sector to address outages

A regional minister on Tuesday underscored the need to revamp the country’s energy policy in order to address the perennial problem of power outages, especially during the summer months when the demand for electricity soars. Mandalay Region Electricity, Energy and Construction Minister U Zarni Aung apologised to the people for the frequent blackouts over the […]

New Hydropower Developers’ Association to drive sustainability in Myanmar

A new industry association is launching in Myanmar to promote sustainable development in the hydropower sector. The Myanmar Hydropower Developers’ Association (MHDA) is an innovative platform for hydropower companies and industry professionals to support dialogue, influence sector policies, and improve environmental and social management practices and governance. The MHDA was founded in 2016 as the […]

Agencies set to send factory workers to Singapore again

Some of Myanmar overseas employment agencies have started preparing to send workers to electronics factories in Singapore, without charging agency fees, weeks after the government lifted a ban on sending workers to the island-state. An executive of the Hnin Oo Wai Overseas Employment Agency said that the company is negotiating with a Singapore electronics factory […]

Memories Group buys a stake in Yangon’s Strand

YANGON, 3 May 2019: Myanmar-based Memories Group has invested USD3.19 million in Strand Hotel International Ltd that operates three hotels and river cruise boat. The investment gives the company a minority share in the Strand Hotel, an iconic landmark on the Yangon waterfront, the four-star Inya Lake Hotel, a 27-acre lakeside property in northern Yangon; […]

InfoCorp Technologies Partners Mandalay Capital to Provide Livestock-backed Loans for Unbanked Farmers

26th April 2019: InfoCorp Technologies, Singapore-registered fintech company has formed a partnership with Myanmar-based financial services company, Mandalay Capital (MCAPITAL) to utilise FarmTrek as platform to provide livestock-backed loan services to farmers and MSMEs in the Myanmar agricultural and livestock market. MCAPITAL aims to replace illegal remittances and currency exchanges in line with Central Bank’s […]

Authorities aim to strengthen investment facilitation in related ministries

The Ministry of Investment and Foreign Economic Relations has pledged to strengthen investment facilitation in related ministries. Speaking at a training workshop in Nay Pyi Taw, U Aung Naing Oo, the ministry’s permanent secretary, stressed the importance of investment facilitation and the role of all investment-facing government agencies in the process. “Investment promotion and facilitation […]

Myanmar to hold regional investment forum in Yangon

YANGON, May 6 (Xinhua) — Myanmar will hold a regional investment forum in Yangon, the commercial capital of Myanmar, later this week, in order to increase investment and attract more investors in the region, according to the Yangon region government on Monday. The two-day Yangon Investment Forum-2019, scheduled to be held on Friday and Saturday, […]

Illegal fuelling stations to face action

The government will take action against shops operating along the Mandalay-Madaya road in Mandalay Region, which have been supplying fuel illegally in order to improve fire safety and tax collection, said U Zarni Aung, minister of Energy and Construction. “The District Road and Bridge Department has filed cases to remove the illegal fuel stops beside […]

Myanmar has an energy problem

Ever since Myanmar undertook a series of political, economic and administrative reforms in 2011, the country’s economy has steadily improved. According to data from the Asian Development Bank (ADB), Myanmar is enjoying some of the highest growth rates in the region. The ADB predicts that the country’s gross domestic product (GDP) will grow by eight […]

FDI inflow expected to hit nearly six billion USD this FY

The inflow of foreign direct investments (FDI) is expected to hit nearly six billion US dollars in 2018-2019 fiscal year, according to Myanmar Investment Commission (MIC). From October, 1 to April 26 of this fiscal year, the total FDI reached 2546.905 million US dollars. At its meeting held at the Directorate of Investment and Company […]