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Businesses collaborate to launch new loan facility for landowners

iMyanmarHouse.com has introduced an installment loan programme in Myanmar for those who own land but lack the capital to build a house or a building for commercial purposes. The company is aiming to grant loans to those who don’t have enough capital to construct luxury buildings, high-rise buildings, hotels, warehouses, and other buildings on land […]

University students take next step with ride-sharing app

Four tech-savvy students from universities in Yangon put their heads together to develop Lan Kyone, a ride-sharing application that helped students hitch rides to get to school on time. Now, the Lan Kyone app is being modified, upgraded and expanded for commercial ride-sharing. As it was at first aimed at university students, there was no […]

Myanmar Tourism Bank expands reach to support sector

Myanma Tourism Bank will open three branches in Yangon, Mandalay and Nay Pyi Taw within the next two months, U Zin Ko Ko, deputy head of the small and medium-sized enterprise (SME) department at Myanmar Tourism Bank told The Myanmar Times. Myanmar Tourism Bank is one of five sector-specific banks granted a banking license by […]

Business confidence in Myanmar sinks as scepticism mounts

More European businesses say they have lost confidence in Myanmar due to concerns about the National League for Democracy-led government’s management of the economy compared to the last two years, a new survey shows. According to the latest survey from the European Chamber of Commerce in Myanmar (EuroCham) published yesterday, a majority of firms (81 […]

VPower’s Myingyan plant to start operation next year

Hong Kong-listed VPower Group inked a deal with the government to operate a rental power project in Mandalay Region. The company signed a power purchase agreement with the Ministry of Electricity and Energy’s Electric Power Generation Enterprise to run a 90MW gas engine power plant in Myingyan for five years. The company said it plans […]

Better oil and gas deals needed in the future, say experts

Efforts must be taken to lessen Myanma Oil and Gas Enterprise’s (MOGE) tax burden from contracts signed with joint-venture firms to work offshore oil and gas fields, a report states. According to the “State-Owned Economic Enterprise Reform in Myanmar: The Case of Natural Resource Enterprises” report by the Natural Resource Governance Institute (NRGI) and Renaissance […]

Yangon CM says region economy run by over 30,000 MSME businessmen

Yangon Region Chief Minister Phyo Min Thein said that there were over 30,000 businesses of Micro, Small, Medium Enterprises (MSMEs) registered as business entities in the Yangon Region and they run the region’s economy. “We compiled the list of these businesses by using digital technology. Over 30,000 businesses are registered in the region and our […]

Myanmar to send commercial attaches to more countries

IN A BID to boost trade with foreign countries, Myanmar will appoint new commercial attaches in more countries in the coming months, said a government official. Khin Maung Lwin, assistant secretary and spokesperson of the Ministry of Commerce, said the ministry is currently training some officials to be sent to foreign countries which have strong […]

ICBC Center inaugurated in Myanmar’s Yangon

The Industrial and Commercial Bank of China (ICBC) Yangon branch, the first Chinese commercial bank operating in Myanmar, has inaugurated its new center in Myanmar’s Yangon. At the opening ceremony on Friday, Chinese Ambassador Hong Liang hoped the ICBC Yangon branch to become one of the most powerful and efficient foreign banks in Myanmar and […]

Yangon Fishery Department to adopt Japanese technology to hatch rohu

The Yangon Region Fishery Department will conduct rohu hatching with the help of Japanese technology, according to a recent report in Myanma Alinn. The species of short-headed catfish will be added into the Twantay hatchery, in cooperation with Japanese livestock experts. We have carried out tissue experiments on dead fish and live fish, with the […]