Need to reduce consumption rises as fuel imports surge

As fuel can be imported freely from overseas, the volume and value of fuel imports into Myanmar is expected to rise this year compared to last year, U Khin Maung Lwin, Assistant Secretary from the Ministry of Commerce, told The Myanmar Times. “Gasoline has been allowed to be imported regularly into Myanmar. As the private […]

KB Kookmin Card eyes Myanmar market

KB Kookmin Card Co. said Thursday it is pushing to tap into Myanmar’s credit card market after getting the nod to set up an office in the Southeast Asian country. KB Kookmin Card, a unit of South Korea’s banking giant KB Financial Group Inc., said it won approval from Myanmar’s central bank the previous day […]

Manufacturing sector absorbed more foreign investments in Thilawa SEZ

Foreign direct investments in Thilawa SEZ primarily flowed into manufacturing sectors which accounts for 73 per cent of total FDI in the zone. At present, FDI in Thilawa SEZ reached more than US$1.14 billion so far. Manufacturing sector in Thilawa SEZ absorbed investments of about US$843 million in 62 enterprises. Trading sector attracted investments of […]

Myanmar insurance to thrive with competition and free market

U Myo Min Thu is the Managing Director of AYA Myanmar Insur­ance (AMI), one of the top three private insurers in Myanmar. AMI was created in 2013 follow­ing the liberalization of economic policy which permitted private insur­ers to enter the market. AMI is the insurance arm of AYA Financial Group, a conglomerate which also owns […]

Increased investment and trade for Myanmar

U Aung Naing Oo, the Director General of the Directorate of Investment and Company Administration (DICA), said the Myanmar Investment Commission (MIC) has approved 26 domestic and foreign companies to conduct investment in Myanmar. Nineteen of the approved companies are foreign businesses. They include 12 companies from the industrial sector, 1 company from the livestock […]

The insurance queue just got longer

Myanmar has a historic connection with the insurance industry. Almost 80 insurance companies operated in the market from the mid-19th century till the mid-20th century, and a large number of them were foreign companies. But things changed in the 1960s when the industry was taken over by the government and all foreign insurers in the […]

Foreign Investors Eye Electricity Sector

Foreign companies are in discussion with the Myanmar Investment Commission (MIC) over possible investment in huge electricity projects, according to the Directorate of Investment and Companies Administration (DICA). “We are in discussion but the details have not been announced yet. The electricity projects are at least US$300 million investments and some are up to US$500 million. They came to the […]

EOI for long-term lease of Nay Pyi Taw Cement Factory. Closing Date on 1st September 2017

Subscribe to our tender alert mailing list Nay Pyi Taw Cement Factory under Nay Pyi Taw Development Committee is intended to cooperate with Local or Foreign companies as long-term lease. As a first step, Companies who interested in that cooperation are required to submit their Expression of Interest (EOI) not later than 4:00pm (Myanmar Standard […]

Crop insurance to soon be offered

Crop insurance, which is of vital importance in agro-centric Myanmar, will soon be available to farmers who must regularly risk floods and other natural disasters that could potentially wipe out their harvest and their income for the season. A supervision committee on private insurance enterprises announced that private insurance companies established after 2013 will be […]

Foreign Firms Allowed Trade Agricultural Products, Constructional Materials

Myanmar has allowed foreign companies to engage in both wholesale and retail trading of fertilizer, pesticide, seeds, hospital equipment and construction materials, according to Notification 36/2017, issued by the Ministry of Commerce. Foreign firms are allowed to do so in line with prescribed health and safety codes and international trade procedures so that the country […]