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Next bidding round for Oil & Gas blocks expected in January, retired official Says

Myanmar is expected to call the next bidding round in January 2020 after passing the draft oil and gas law, said a retired senior official. Having planned to start the process in the first half of 2019, the government has delayed the international bidding round in order to get the new bill in place. “We […]

Request for Expression Of Interest – Recruitment of ADFS Specialist (International Individual Consultant), Deadline: 5th November, 2019

MINISTRY OF AGRICULTURE LIVESTOCK AND IRRIGATION ADB Loan 3724 and GAFSP Grant 0671 CLIMATE FRIENDLY AGRIBUSINESS VALUE CHAINS SECTOR PROJECT REQUEST FOR EXPRESSION OF INTEREST (REOI) Recruitment of ADFS Specialist (International Individual Consultant) Package No. CS-05 The Government of the Republic of the Union of Myanmar has received financing from the Asian Development Bank (ADB) […]

Two Korean Banks Hopeful of Winning Approval to Open Myanmar Branches

YANGON—Two South Korean banks involved separately in a low-income housing project and a joint industrial complex construction project in Yangon are hopeful of winning Myanmar government approval to offer banking services in the country soon. If they are granted licenses, KB Kookmin Bank, one of South Korea’s largest banks, and Industrial Bank of Korea (IBK) […]

Myanmar Among World Bank’s Top 20 for Business Ease Improvements

YANGON – As the Myanmar government makes efforts to complete its ambitious goal to reach the top 100 of the World Bank’s ease-of-doing-business index 2020, the country was listed among the top 20 most-improved countries. A World Bank report listed Myanmar in the top-20 improvers in Doing Business 2020, alongside China, Bangladesh and India. It […]

Foreign Investment in Myanmar Set to Miss Target: MIC

Yangon—Myanmar is likely to fall short of its foreign investment target in the 2018-19 fiscal year, according to U Thant Sin Lwin, director of the Myanmar Investment Commission (MIC). Myanmar has so far only received US$4.1 billion (6.29 trillion kyats) of inbound foreign investment in the current fiscal year, which ends on Sept. 30. “We […]

Company of Former Myanmar Dictator’s Grandson Among 4 Sued for Unpaid Loans

YANGON—AYA Bank, one of the largest private banks in Myanmar, has sued four companies— including one owned by a grandson of late military dictator Gen. Ne Win—for unpaid loans, according to the Yangon Region High Court. The bank has sued Omni Focus Co, owned by U Ne Win’s grandson U Kyaw Ne Win, along with […]

Myanmar: A burgeoning entrepreneurial ecosystem

A bit more than a decade ago, buying a cellular SIM card in Myanmar cost US$3,000 in 2001 and $250 in 2013. Fast forward to April 2019, and you can purchase a starter pack for as little as $1.10. And this is only one of the changes afoot in Myanmar, where local and international entrepreneurs […]

With ‘on-the-go’ loans and tech, social firm boosts Myanmar farmers

A social venture in Myanmar is boosting farm outputs with customized technologies and giving loans for seasonal migration to raise incomes in one of the world’s poorest countries. Proximity Designs, which was set up in 2004 in the country’s commercial hub Yangon, focuses on farming, on which more than two-thirds of the population relies to […]

DAWN Microfinance gears up for higher borrower demand

Early Dawn Microfinance Company Ltd (DAWN) is expecting lending in Myanmar to pick up on the back of the launch of a credit bureau in the country later this year, and as the banking sector opens up. “Myanmar is already in the process of opening up the banking sector and we see opportunities to serve […]

‘Creating triple wins’: inclusive business in Myanmar

They can create new income opportunities for the poor by engaging them in the value chains of profitable businesses while paying better than market rates. They can also provide goods and services to the poor that address key needs in areas such as health, education, housing, finance, water and sanitation. Inclusive businesses are typically profitable […]