Central Bank of Myanmar introduces updated clearing and settlement system

Central Bank deputy governor U Soe Min said the institution has introduced a new payment and settlement system called CBM-NET 2 on November 16. The Central Bank of Myanmar, supported by Japan and commercial banks, this week launched the Central Bank of Myanmar Financial Network System 2, an upgraded version from the old system. It […]

New great powers and responsibilities in Myanmar insurance market

October 1 marked yet another milestone in the ongoing development of the Myanmar insurance market with two important new regulations that are interlinked. The new regulations are the latest in a series of sweeping regulatory reforms, such as the opening of the market to foreign players in 2019, flexibility in product development as well as […]

Delta Capital, Daiwa invest $12.6m in Myanmar PET bottle recycler CPC

Myanmar-focused private equity firm Delta Capital Myanmar and Daiwa PI Partners have jointly invested $12.6 million in plastic bottles recycler Commercial Plastics Company (CPC). The investment was made through Delta Capital’s Myanmar Opportunities Fund II and Daiwa PI’s Daiwa Myanmar Growth Fund. This is Delta Capital’s first control deal as also Daiwa Myanmar Growth Fund’s […]

Yangon Now Has Sufficient Beds to Cope With Influx of COVID-19 Patients, Health Officials Say

YANGON—Myanmar’s commercial hub, Yangon, is now able to provide sufficient health care to the region’s thousands of COVID-19 patients—and the many more who test positive each day—as more than 10,000 newly added hospitals beds are ready, according to senior regional health officials. As of Thursday morning, Myanmar had reported a total of 21,433 COVID-19 cases […]

Production levels at Myanmar’s Yetagun gas field declining fast

Malaysian oil and gas company Petronas has started reducing the number of workers at the Yetagun offshore gas field in Myanmar since the first week of September, an employee of the company said. The employee, who spoke on condition of anonymity, said the number of workers at the field will also be reduced in December […]

Motorbikes for Yangon

Despite being the commercial center in the largest country in South East Asia, Yangon is a strange city for one main reason. It is the only city on the continent not to allow motorbikes. In Vietnam pedestrians in Hanoi and Ho Chi Minh compete with pavement space with 100 CC Hondas and Yamahas, and in […]

Myanmar govt launches special travel arrangements with Japan

Myanmar and Japan have agreed to start special travel arrangements for travellers entering each nation. During an official visit to Myanmar on August 24, Japanese foreign affairs minister Motegi Toshimitsu met with State Counsellor Daw Aung San Suu Kyi to discuss, among other things, bilateral arrangements to make travel between both countries easier amid COVID-19. […]

Local firms to develop new commercial port in Ayeyarwady

Ever Flow River Public Co (EFR), which is listed on the Yangon Stock Exchange, and Ayeyar Hinthar Holdings (AHH) will cooperate to develop the Ayeyarwaddy International Industry Port (AIIP), EFR announced on August 12. EFR subsidiary Unison Choice Services will cooperate with AHH to establish A Logistics Co Ltd, which will act as project manager […]

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 […]