Foreign Investment Reaches US$4.7 Billion so Far in 2017-2018

Foreign investment volume has reached more than US$4.7 billion until November of the 2017-2018 fiscal year, a source from the Myanmar Investment Commission said. The meeting No 16/2017 of Myanmar Investment Commission was held at the office of Directorate of Investment and Company Registration in Yangon on November 30. The meeting granted a permission to […]

Carlsberg Builds a Beer Empire in Myanmar

Carlsberg Group, the Denmark brewer of Carlsberg beer, is expanding fast in Myanmar. Last month, the brewer opened its 1000th draught outlet in the country, four years after it first inked a joint venture with Myanmar Golden Star (MGS) to form Myanmar Carlsberg Co, and two years after it opened a $100 million brewery in […]

MPT expands IP-VPN service to 55 cities across Myanmar

Myanma Posts and Telecommunications (MPT) has expanded its IP-VPN service to 55 cities across the country. According to MPT, enterprise customers using the IP-VPN service can now connect hard-to-reach locations or temporary sites into their virtual private networks. The expansion of the IP-VPN network includes Myitkyina, Kathar, Monywa, Magway, Taung Dwin Gyi, Yae Nan Chaung, […]

How the new vehicle import policy could disrupt the car market

On October 16, the Supervisory Committee for Motor Vehicles Importing officially released a set of new rules stating that only left-hand-drive vehicles can be imported into Myanmar from 2018 onwards. Those rules have since ignited much criticism from car traders and other stakeholders who foresee the new import policy as having a disruptive impact on […]

Telcos vie for mobile financial services

YANGON-WHILE Myanmar is still a cash-dominated society, the nation’s three telecommunications operators are trying to change that as they vie for the lead in the country’s nascent mobile financial market. Vikram Sinha, CEO of Ooredoo Myanmar, was happy with the success of M-Pitesan, a product that allows mobile users to enjoy instant money transfers and […]

M-development Corp signs Chanmyashwepyay project in Mandalay

M-development Corporation (Myanmar) Co has signed a Build, Operate and Transfer agreement with the Mandalay City Development Committee (MCDC) to upgrade the Chanmyashwepyay (Kywesekan) Bus Terminal over a period of 50 years, at K3 billion per year. The terminal will be upgraded in accordance with international standards and built to function like an airport. Targeted […]

Illegal paddy exports putting rice mills out of business

In Mandalay Region, which is one of the main paddy producers of Myanmar, almost every rice mill has shuttered due to illegal direct paddy exports, according to the regional Rice Millers Association. In Myanmar, direct paddy exports are not permitted. However, Chinese traders have been exporting paddy directly to China after buying the crops from […]

Mobile operators join war on cash

WHILE Myanmar is still a cash-dominated society, the nation’s three telecommunications operators are trying to change that as they vie for the lead in the country’s nascent mobile financial market. Vikram Sinha, acting CEO of Ooredoo Myanmar, announced on Thursday the launch of M-Pitesan, a product that allows mobile users to enjoy instant money transfers […]

Property taxes worth less than a cup of tea

Bi-annual property taxes paid by many urban residents in Myanmar are merely worth the price of two cups of tea, according to an August study conducted by Yangon-based Renaissance Institute, which is funded by the UK, Australia and Switzerland with support from The Asia Foundation. In Yangon, the amount collected over the same period is […]

Education always a major focus for Japan’s bilateral cooperation with Myanmar

Myanmar and Japan enjoy a long-standing strong bilateral relationship across a wide range of political, economic, social and cultural spheres. Reflecting this, Japan’s economic cooperation to Myanmar dates back to as early as 1954. Throughout the history of the bilateral cooperation, education has always been a major area of focus, as Japan sees it as […]