Japan offers to participate in Dawei SEZ development

Japan has made an official offer to participate in the development of the Dawei Special Economic Zone (SEZ), said U Myint San, Vice Chair of the SEZ management committee. “The Japanese government has made a proposal after we invited them to participate in the project on a government-to-government (G2G) level on November 5. They’ve sent […]

Myanmar’s fintech startup NearMe raises 7-digit funding from Sumitomo Corporation

Myanmar fintech startup NearMe has raised a 7-digit US dollar funding from Japanese conglomerate Sumitomo Corporation to enhance digital payments access for its SMEs clients. Founded in 2015, NearMe (formerly known as 1-Stop) provides a retail digital services platform for its retailers and agents, mostly SMEs, to do transactions such as goods purchases, loan repayment, […]

Mandalay property market hits COVID-19 doldrums, but prospects intact

Mandalay’s real estate sector had been growing steadily before the COVID-19 pandemic struck but land prices may now start falling, opening up a rare opportunity for buyers to take a serious look at the market, according to a major developer in Myanmar’s second largest city. U Kyaw Kyaw Win, head of New Star Light Group, […]

Development of the Korean industrial project to begin in December

Construction of the Korea-Myanmar Industrial Complex (KMIC) will commence in December despite the COVID-19 pandemic, said Mr Kim Gun Woo, general manager of Korea Land and Housing Corporation’s representative office in Myanmar. The project is estimated to generate US$4.7 billion worth of value from investments and generate more than half a million jobs in support […]

Bank, business school collaborated to build KBZPay

KBZ Bank partnered with the London Business School (LBS) MBA Class of 2019 in the development of its mobile payment app, KBZPay, the bank revealed last month. KBZ Bank launched KBZPay in 2018 has part of its strategy to achieve full financial inclusion and extend its reach across Myanmar. Over the past year, KBZPay has […]

Myanmar to Upgrade Urban Infrastructure in State Capitals, Border Town

YANGON—The Myanmar government is planning to upgrade basic infrastructure and enhance urban management of three major cities in Mon and Karen states that lie along Japan’s planned East-West Economic Corridor for the Greater Mekong Subregion (GMS). Minister of Construction U Han Zaw said Monday that his ministry will take a leading role in developing the […]

Request for Bids,National Electrification Project (NEP), Funding: Italian Soft Loan ,Closing Date: 26th March,2020

Country: Myanmar Name of Project: National Electrification Project (NEP), Funding: Italian Soft Loan Contract Title: Supply, Installation and Maintenance of Solar PV Systems for Households and Public Facilities Credit No.: 5727-MM RFB Reference No.: S&I – NEP-IT1 (1 lot) 1. The Government of Myanmar has received financing from the Government of the Italian Republic toward […]

Green light given for Thai-backed industrial estate near Yangon

The Myanmar Investment Commission (MIC) has approved Thai developer Amata Group’s proposal to develop a smart industrial estate project in Yangon Region. Amata Group is a Thai-listed developer headquartered in Bangkok known for its work on industrial estates. A meeting of the Myanmar Investment Commission on October 21 approved the development and operation of the […]

Service is key to top spot in market: Samsung Myanmar

South Korea’s Samsung Electronics, the world’s leading manufacturer of smartphones and home appliances, has secured a firm foothold in Myanmar and is determined to become part of the country’s march to economic development. Calvert Yap, head of Consumer Electronics at Samsung Myanmar, talks about the company’s plans to expand in the country and to help […]

Mandalay city wins international award

The Mandalay City Development Committee (MCDC) has won an international award for its efforts to implement reforms improve its efficiency in delivering basic public services. The Singapore-based GovInsider, an advocacy group on good and innovative governance, chose the MCDC as this year’s recipient of its Rising Star Award for the governance reforms and innovations it […]