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Magwe on track to see more investments this year

Magwe Region received K1.5 billion (US$966,000) in investments between last October and April this year, says Regional Minister for Planning and Development U Zaw Min. The investments, all from local businesses, created 134 local jobs between October 2018 and April 2019. In the 2017-2018 fiscal year, the region received six domestic investments totalling K1.57 billion […]

MoneyGram and MCB announce money transfer services

MoneyGram and Myanmar Citizens Bank (MCB), have announced an agreement to provide money transfer send services at every MCB bank location in Myanmar. According to a statement, consumers can send money from 42 branches to any MoneyGram location in more than 200 countries and territories worldwide. In celebration of the new agreement, MoneyGram is offering […]

More investments needed for expansion in food-processing industry

The Myanmar processed food industry needs more investment support in order to develop further, U Aye Win, chair of the Myanmar Food Processors and Exporters Association, told The Myanmar Times. Currently, Myanmar processes basic raw commodities such as rice, beans, maize and other agricultural products. Excess products are exported. However, the country also imports value-added […]

Fisheries sector not developing due to no funding

Investments in Myanmar’s fisheries sector are almost all from the private sector and it is time to consider more help from the government for the sake of improving domestic food security and generating more revenue from exports says U Win Kyaing, general secretary of the Myanmar Fisheries Federation. The lack of financing is one of […]

Cooperatives set to receive K550 billion in funds

Funds for farmers and the agricultural sector totalling more than K550 billion are going to be provided to central cooperative associations on July 7, said Director U Myo Aung of the Ministry of Agriculture, Livestock and Irrigation. The funds will then be distributed to regional and state-level, which will then disburse the money to farmers […]

Blockchain startup Everex secures seed funding and seeks more in token sale

Singaporean fintech startup Everex has just raised US$500,000 in seed funding from Chinese industrial conglomerate Holley Group. It hopes to add a substantial sum to that figure from its token sale, which kicks off today. Everex has developed an Ethereum blockchain-based online payments suite, which comprises cash transfer and micro-lending services, as well as an […]

Myanmar receives largest aids from Japan and US

The largest portion of international aids which Myanmar has received since Thein Sein’s government took office in 2011 came from Japan and the United States, according to a report from Ministry of National Planning and Economic Development. The combined aid funds from the two countries amounted to over US$460 million, said the report. Since the […]

Ministry to cooperate with private companies to generate more power

The Ministry of Electric Power will team up with the private sector to address the problem of power shortages. Myanmar is expected to consume about 1688 MW in the summer time. But the actual demand is about 2060 MW. Only about 30 per cent of the total households in the country has connected to the […]

Myanmar’s stock exchange facing delays

Myanmar is running behind schedule for starting a stock exchange by 2015 after delays in getting the legal framework in place, said an executive at Japan Exchange Group Inc., which is assisting on the project. “We’re pressed for time,” Koichiro Miyahara, senior executive officer at Japan Exchange, said in an interview in Tokyo on Aug. […]