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Local egg prices drop due to logistical issues

Transportation difficulties have caused the price for a viss (about 1.63 kilogrammes) of chicken eggs to drop by about half, says an industry official. U Kyaw Htin, chair of the Myanmar Livestock Federation said last Saturday that egg prices dropped to K1400 per viss from about K2600 last week, before rebounding to about K2100. “Demand […]

Myanmar investment inflows double from China as deals surge

YANGON — Foreign investment shows signs of recovering in Myanmar, one of Southeast Asia’s frontier markets, led by more than twofold gains in inflows from China and Singapore. Approved foreign investments rose 79% on the year for the six months ended in June, reaching $2.35 billion, according to Myanmar’s Directorate of Investment and Company Administration. […]

Mandalay to build textile industry park

A textile industry park will be established in Mandalay city, U Zaw Myint Maung, chief minister of Mandalay Region, said on Tuesday. He said the government will work with the Japan International Cooperation Agency (JICA) to set up the industrial hub. “Some businesspeople have proposed to establish a textile industry park that can employ about […]

Rental transactions rise in Yangon, even as larger market stays muted

The market for rental property, which is the lifeblood of the real estate sector in Yangon, rebounded during first quarter of this year, with more units getting rented out rather than sold. However, the overall environment of the property market remains muted, industry analysts and leaders said. Late in April, the rental of apartments in […]

Japanese companies, DKSH enter Myanmar wholesale market

Three Japanese companies and a Swiss trading house have become the first foreign entities authorised to do retail and/ or wholesale business in Myanmar. Toyota Group’s trading arm Toyota Tsusho, pharmaceutical firm Otsuka and diaper manufacturer Mycare Unicharm are authorised to operate wholesale business as a 100% foreign-owned business, according to an announcement from the […]

Foreign insurance firms may start operations by April 2019: regulator

Qualified foreign insurance providers will receive licenses to operate in Myanmar by April next year. “I can assure it is happening within the next 16 weeks,” U Thant Sin, Director of the Financial Regulatory Department under the Ministry of Planning and Finance, said during the UK Capital Market and Insurance Conference in Yangon on December […]

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 […]

Corporate Japan urges Myanmar to address business concerns

The most senior Japanese business leader in Myanmar urged the government to recognise how liberalisation, efficient bureaucracy and reliable power supply allowed Thilawa Special Economic Zone (SEZ) to attract considerable investments. He also warned that current restrictions placed on foreign firms in the retail and wholesale sector are already “the maximum” but commended the ministry’s […]

New ministry, ‘single-window’ system to help investors do business

Myanmar is tuning up efforts to draw investments into the country. In Parliament Monday, the establishment of the new Ministry of Investment and Foreign Economic Relations was approved, paving the way for better coordination between related ministries and organisations on local and foreign investments and development projects implemented with foreign aid or loans. The newly […]

Hotel investments continue to rise despite lower tourist arrivals

Singapore-listed company Memories Group Ltd yesterday launched three new hotels in Myanmar, located in Mawlamyaing, Yangon and Mergui, respectively, even as tourist numbers dip and occupancy rates fall across the country. The 72-room, 3-star Hotel Suggati will be Mawlamyaing’s newest hotel and is being positioned as a business hotel. Mawlamyaig is the fourth largest city […]