Mandalay expects new industrial park to bring more jobs

Mandalay is inaugurating its newest industrial park, the Mandalay Myotha Garden City Project in Ngazun township, according to the Ministry of Information. The project is a master plan development, supported by both local and foreign investment as well as experts. It aims at improving socio-economic cohesion through increased employment opportunities, public-private investment and sustainability with […]

Myanmar to hold pearl auction in Hong Kong to penetrate int’l market

YANGON, Feb. 22 (Xinhua) — Myanmar will hold its sixth International Pearl Auction in China’s Hong Kong Special Administrative Region starting Friday, the official Global New Light of Myanmar reported Thursday. In the three-day pearl auction with the aim of penetrating the international pearl market, Myanmar pearls of high value, produced from Myeik, the country’s […]

Myanmar goods seek to penetrate int’l market through Canton Fair

YANGON, Feb. 13 (Xinhua) — Myanmar will seek to penetrate international market through exhibition of its goods at the upcoming 123rd Spring Canton Fair of China, the official Global New Light of Myanmar quoted the Ministry of Commerce as saying Tuesday. “Participating in the trade fair can not only prevent illegal trading but can promote […]

Mass production of edible bird’s nests brings down prices in Myanmar

YANGON, Feb. 5 (Xinhua) — Mass production and market competition of edible bird’s nests have brought down its prices in the domestic market, the official Global New Light of Myanmar reported Monday. Despite decrease in prices, demand for the bird’s nests increased in recent months, said sellers in Myeik, the country’s southern Tanintharyi region where […]

Social Media Exhibits Its Disruptive Power in Myanmar

If the past two decades of foreign interventionism have taught us anything, it is that democracy cannot be imposed upon a nation unless it has the social, cultural, economic, and institutional architecture to enable it. The same should be said of democratic tools — including a free press, elections, and, of course, civic technologies. Facebook, […]

Extension of Invitation for Bids, Ministry of Transport and Communications. Closing Date 30 Nov and 15 Dec 2017

Subscribe to our tender alert mailing list IFB No. IFB-MR/YCR/UG/CP201 (T) 2017-18, and MR/YCR/ UG/CP202 (T)2017-18 (Yangon Circular Railway Line Upgrading Project) Myanma Railways has already advertised the invitation for Bids in the Global New Light of Myanmar on 2nd August, 2017. In order to be convenient for the interested eligible applicant’s document preparations, Myanma […]

Strengthening Myanmar’s banking sector is key to economic growth

Central to Myanmar’s economic development is the reform of its finance sector and specifically its banking sector. Banks play a fundamental role in the transformation of market economies. Recently the government has enacted a series of laws intended to reform and strengthen its banking institutions to restore investors’ confidence and to make capital more accessible. […]

Trade on the rise, more FDI needed: U Ye Min Aung UMFCCI VP

U Ye Min Aung, vice president of the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry, told the Global New Light of Myanmar his views on Myanmar’s economy in an exclusive interview. Q: Please tell us about the current economic situation in Myanmar? A: At the present period, global economy […]

Myanmar Announces Restriction of Some Investment Activities

Myanmar Investment Commission (MIC) has announced restriction of some investment activities, as some sectors will only allow investment by the state. According to Global New Light of Myanmar Friday, sectors restricted to state investment include security and defense, arms and ammunition for national defense, national postage stamps, establishment of post offices and post boxes, air […]

China Remains Myanmar’s Largest Foreign Investor

According to data released by the Directorate of Investment and Company Administration (DICA), China remains Myanmar’s largest foreign investor with 163 projects valued at US$18.5 billion as of February this year. Singapore stands in second place with investments of $16.65bn spread throughout 230 projects, while Thailand is third with $10.6bn invested in 100 projects, according […]