CBM Restrictions on Foreign Banks to be lifted ‘Soon’- Deputy Governor

The governor of the the Central Bank of Myanmar (CBM) has said restrictions that stop foreign banks offer­ing retail services in My­anmar will be lifted ‘soon’. Deputy Governor U Set Aung told a July 10 Pyithu Hluttaw meeting that it’s time foreign banks were allowed to open branches across the nation and pro­vide their retail […]

As the World Moves to Renewable Energy, Myanmar Will Follow

YANGON — The government has been pushing plans for coal-fired power plants to address Myanmar’s great need for electricity. Renewable energy expert Hans-Josef Fell talks about how Myanmar can develop its energy plan. Fell is a former parliamentarian in Germany and the current president of the Berlin-based Energy Watch Group. The Myanmar government has been […]

Yangon to Mandalay Railway Back on Track

The railway linking Yangon to Manda­lay has been slat­ed to receive a series of large-scale, overdue reno­vations. With a loan from the Japan International Co­operation Agency (JICA), the 385 mile stretch of rail will be revamped to meet international standards and halve transportation times. U Myo Win, General Manager of Myanma Rail­ways, told the Myanmar […]

Fuel Importers Submit Proposal for Deep-Sea Port in Yangon

Representatives of the oil and gas in­dustry have sub­mitted a business propos­al to the government to a build a deep-sea port near Yangon. “We are studying the potential logistics and feasibility of a deep-sea port project 20 miles from Yangon to reduce transportation costs for maritime trade and fuel imports,” Dr Win Myint, Secretary of […]

Video Streaming Key in Fight for Myanmar Mobile Subscribers

YANGON — With faster mobile connections in place and smartphone use on the rise, discount data plans on video services have become a key strategy for Myanmar’s mobile carriers in their fight to attract new subscribers. In June, Myanma Posts and Telecommunications, the country’s biggest carrier, started to offer discounted data plans to view YouTube content and local […]

Medium-Income Housing Offered on Installment Plan in Mandalay

The Garden City Apartment Complex will break ground next week with the aim of giving medium-income people the chance to buy a unit, said project director U Zin Min Swe. Civil servants who are currently working will receive a 5 percent discount and all buyers will be linked up with banks that allow interest-free installment […]

Foreign Firms May Be Allowed to Join Myanmar E-Lottery Business

A stamp-duty amendment and government lottery bills that would open the e-lottery business to all were submitted to Pyidaungsu Hluttaw on July 14. The government lottery has been operating since 1938 under orders and instructions without a proper law, thus a government lottery bill had to be drafted and submitted, Minister for Planning and Finance […]

US Solar Firm Tackles Cost Barriers Through Instalment System

A US-based solar product company launched its services in Myanmar with the support of the International Finance Corporation and United Nations Capital Development Fund to widen access to clean energy among the rural population. The opening of its first store in Myanmar was accompanied with the introduction of the instalment system for purchases. Greenlight Planet […]

Indonesia Wants Direct Jakarta-Yangon Air Links

INDONESIAN government is requesting Myanmar to allow direct flights connecting Jakarta and Yangon to spur tourism and business activities between both nations. Dr Ito Sumardi, Indonesian ambassador in Yangon told The Myanmar Times on July 14 that in 2015, the Myanmar Airlines International (MAI) and Indonesia’s state-owned Garuda Airlines signed a deal but it did […]

Five Int’l School Officials Detained in Insein Prison

Five officials of a company operating international schools in the country have been detained in Insein central prison in Yangon while being investigated for teaching the Myanmar language without the approval of the education ministry, a company lawyer said Thursday. The officials of the Brighter Future International (BFI) Education Services Co. were detained since last […]