Myanmar to adopt Mobile Banking System

Most local banks are not capable of providing mobile banking services although Myanmar Cenral Bank has authorized for such services. “At present, there are only a few banks proposed to offer the service. Some application forms need to be reapplied in order to complete data requirements. Mobile banking is not a new banking procedure. It […]

Puma pounces on Thilawa port

The firm selected to build Thilawa SEZ harbour and oil tanks has applied to the Myanmar Investment Commission, expecting to receive its license in the next few months, Puma chief operations officer Robert Jones said. Work on the project is set to begin shortly after receiving the licence. It is 80 percent owned by Puma […]

JICA, govt to finalise railway upgrade loan

Japan will loan Myanmar US$200 million of the $500 million required to upgrade the Yangon-Mandalay Railway early next year, a Japan International Cooperation Agency official said last week. While JICA has not committed to financing the remaining $300 million, chief representative Tanaka Masahiko said it was the “first batch” of several payments for the upgrade, […]

Lotte Chilsung to sell drink products in Myanmar

YANGON – South Korea-based Lotte Chilsung will distribute and sell soft drink products in partnership with US-based PEPSICO, according to the Directorate of Investment and Companies Administration (DICA). The company applied for permission to open a branch office for distributing and selling its products in Myanmar. The Lotte Chilsung Beverages is one of Asia’s largest […]