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First Shanghai-Yangon direct flight to open in July

Shanghai-based airlines are competing with each other to open direct flights to popular destinations in Southeast Asia to cap the rising travel demands amid the Belt and Road Initiative. Spring Airlines announced on Tuesday to open the first direct flight between Shanghai and Yangon in Myanmar from July 1. The budget carrier will operate four […]

Myanmar to call international tender for power delivery

Myanmar will hold an international tender for gas to be delivered to the country via floating power plant to generate the electricity required to meet rising demand in Yangon by summer 2020, a senior official from the Ministry of Energy and Electricity (MOEE) told The Myanmar Times. “We will invite an international tender. We will […]

Cooperation, Lack of Accountability Biggest Challenges for Anti-Graft Body, Says Chairman

YANGON— Anti-Corruption Commission Chairman U Aung Kyi told the Union Parliament on Monday that an unwillingness to cooperate, as well as a lack of accountability and transparency, are the commission’s biggest challenges. “To effectively prevent internal corruption, it depends on the efforts of 200 heads of governmental departments and enterprises across the country,” he said, […]

Logistics player Ever Flow River to list on YSX this year

Ever Flow River Group Public Company (EFR Group), which provides logistics services in Myanmar, wants to list on the Yangon Stock Exchange (YSX) this year, its chair, U Kyaw Lwin Oo, told The Myanmar Times. If successful, it will become the sixth company to list on the bourse since its launch in 2016. EFR Group […]

China’s CNPC breaks into Myanmar fuel retailing with Singapore brand

SINGAPORE/YANGON (Reuters) – China National Petroleum Corp is planning to open dozens of petrol stations in Myanmar, the first major foreign investor to enter the fast-growing Southeast Asian fuel market, as the state giant expands its retail oil business, company officials said. The investment, which could eventually reach tens of millions of dollars, follows a […]

Seeking promising start-ups

Local recycling company RecyGlo last week emerged as the winner of the Seedstars world competition in Yangon. The start-up beat nine other local entrepreneurs to represent Myanmar at the Asia Seedstars Summit, making it eligible for US$500,000 (K767 million) in equity investments if it wins the final competition in Switzerland next April. RecyGlo’s aim of […]

Myanmar state counselor stresses utmost effort to increase power production

YANGON, May 18 (Xinhua) — Myanmar State Counselor Aung San Suu Kyi has stressed the need to make utmost effort to increase electricity production, saying that the government has set up new infrastructure for the power system including installation of new cable lines and opening of new sub-power stations. Aung San Suu Kyi, who is […]

Nordic Group Expands into Thailand

Yangon 22 May 2019 In an unusual example of outward investment, Myanmar Logistics provider Nordic Group has announced the startup of of Nordic Logistics Ltd in Thailand to support its new road transport service between Thailand and Myanmar. Nordic Group was co-founded in 2015 by Mon Myat Thu and Thorstein Svendsen, and has rapidly emerged […]

Mandalay to build textile industry park

A textile industry park will be established in Mandalay city, U Zaw Myint Maung, chief minister of Mandalay Region, said on Tuesday. He said the government will work with the Japan International Cooperation Agency (JICA) to set up the industrial hub. “Some businesspeople have proposed to establish a textile industry park that can employ about […]

Coffee industry, at the threshold of a new era

“Arabica coffee, produced in PyinOoLwin region of Mandalay Region and Ywangan region of Shan State has reached the Speciality Coffee level. As coffee of the country is fetching reasonable prices in the global market, foreign exchange from coffee export will rise alongside the development of the country’s coffee sector. Additionally, coffee farmers as well as […]