New Companies Law Submitted to Parliament

NAYPYITAW — The Myanmar government submitted a draft of the new Myanmar Companies Law to the Upper House on Thursday. The draft law combines elements of the Myanmar Companies Act of 1914 and the Special Companies Act of 1950, reworked in hopes of attracting foreign investment, said Deputy Minister for Planning and Finance U Maung […]

Our leaders should ask for more financial support: Dr Thaung Han

Dr, Thaung Han told The Myanmar Times in an interview that Myanmar’s leaders should be bolder in asking for loans and financial assistance from international financial institutions. Dr Thaung Han is an adviser of Max Myanmar Holding Co. Max Myanmar operates vehicles and heavy machinery trading and is involved in a wide range of sectors, […]

Invitation for Bids (IFB) for Construction of Workshops, Dormitories and Open Sheds. Closing Date 28 June 2017

Date 15 May 2017 Loan/ Grant No. and Title: MYA 3472 —Equipping Youth for Employment Sector Development Project Contract/s No. and Title: EYE/C /ICB/CBMSCWS-Dorms/01 Deadline for Submission of Bids: 28 June 2017, 1500 hrs 1. The Government of Myanmar has received financing from the Asian Development Bank (ADB) towards the cost of Equipping Youth for […]

ADB to Provide Loan for Rangoon Power Upgrade

Manila-based Asian Development Bank (ADB) said in a statement on Tuesday that it would provide a US$80 million loan to “upgrade [Rangoon’s] electricity transmission ring line system,” a project forecast to benefit more than one million customers. This is a welcome announcement for many residents in heavily populated Rangoon, where more than half of Burma’s […]

ADB to Loan $100 Million to Upgrade Road in Kayin on GMS Corridor Route

The Asian Development Bank (ADB) has approved a $100 million loan to improve a 66.4 kilometre section of road connecting the towns of Eindu and Kawkareik in Kayin state, dubbed as the missing link of the Greater Mekong Subregion (GMS) East-West Corridor. The Manila-based lender said the project will improve the existing two-lane road in […]

Myanmar vote raises hopes for sanctions removal

As the National League for Democracy (NLD) looks poised to win Myanmar’s historic elections, western exporters hope that a democratic transition may bring further easing of the US sanctions regime. The first round of sanctions lifting occurred in 2012 after the military regime agreed to loosen its grip on power and establish a civilian parliament, […]

Ministry of Construction invites for GMS EWEC Eindu to Kawkareik Road Improvement Project; Deadline for Submission: December 8, 2015

Ministry of Construction Republic of the Union of Myanmar Invitation for Bids Date: 07 September 2015 Loan No. 46422-003MYA and Title: MYA:GMS EWEC Eindu to Kawkareik Road Improvement Project Contract No. and Title: ICB1-ED-KKR GMS EWEC Eindu to Kawkareik Road Improvement Project Lot 1: ICB1-ED-KKR-L1 , Lot 2: ICB1-ED-KKR-L2 1. The Republic of the Union […]

ADB report on SMEs in Myanmar

Policy banks offering subsidised loans to small and medium-sized businesses still have significant unused capacity for financing, said an Asian Development Bank (ADB) report Among private banks, the Small and Medium Industrial Development Bank (SMIDB) plays a leading role in financing small businesses. It is supported by the Ministry of Industry, and offers interest subsidised […]

58 hydropower projects in the pipeline

A total of 58 hydropower projects being implemented under the special energy programme of the Asian Development Bank (ADB) and the Japan International Cooperation Agency (JICA) are expected to be completed within five or 10 years, according to a World Bank report. Fewer than 30 per cent of households in Myanmar have access to electricity […]