USDP’s Call to Re-Run General Election Doesn’t Reflect Military View: Spokesman

Naypyitaw — Myanmar military or Tatmadaw spokesman Major General Zaw Min Tun has steered clear of the Union Solidarity and Development Party’s (USDP) call to re-run the Nov. 8 general election. The spokesman said the party’s call for re-running the election in coordination with the military does not reflect the Tatmadaw’s view. The USDP, which […]

Investment applications to go online in Myanmar

The Directorate of Investment and Company Administration (DICA) will launch an Online Investment Application function to facilitate the investment process with the aim of attracting responsible investors, said U Thant Sin Lwin, Director General of DICA. The new function permits companies to carry out the process for proposed investments online without having to physically go […]

Myanmar exporters concerned over falling dollar rate

Traders are concerned about international demand and export revenues in Myanmar, which have taken a hit as a result of lower demand and a weaker dollar exchange rate. The Central Bank of Myanmar’s (CBM) reference exchange rate was set at K1287.4 per dollar on November 3, its lowest level in two years. “The dollar price […]

New great powers and responsibilities in Myanmar insurance market

October 1 marked yet another milestone in the ongoing development of the Myanmar insurance market with two important new regulations that are interlinked. The new regulations are the latest in a series of sweeping regulatory reforms, such as the opening of the market to foreign players in 2019, flexibility in product development as well as […]

Myanmar Receives 16 Proposals for New Yangon City Project

YANGON — Myanmar says it has received 16 proposals from nine countries, including Japan, Singapore, Italy, Spain and France, to compete against a Chinese company’s proposal for the New Yangon City project, which is part of China’s Belt and Road Initiative (BRI). On Saturday, the Ministry of Investment and Foreign Economic Relations said 16 consortiums […]

Five Shan towns to be promoted as tourism cities

Five towns in Shan State have been designated as tourism cities with the aim of improving Myanmar tourism in the post-COVID-19 period, said U Soe Nyunt Lwin, Shan State Planning and Finance minister. A tourism master plan has taken into account the “new normal” in Shan. “Under the plan, the country will promote tourism under […]

Construction work to resume in Yangon with new rules

Construction work in Yangon, which has been halted since the third week of September, will be allowed to resume if it follows new rules, said the Yangon Region Construction Inspection Committee. “Construction projects in Yangon Region will have to report to the committee and after inspection, they will be allowed to resume if they are […]

Myanmar releases new policy for unsolicited project proposals

The Public-Private Partnership (PPP) Center under the Ministry of Planning, Finance, and Industry issued order (1/2020) involving the tender process for unsolicited project proposals without government invitation. The order is issued to facilitate and clarify the process of analysing unsolicited project proposals from private organisations and companies to government departments, a spokesperson for the PPP […]

India, Myanmar agree to open Sittwe Port in 2021

India and Myanmar have agreed to work towards launching the Sittwe Port in Rakhine State in the first quarter of 2021, according to announcements by the Myanmar government and the Ministry of External Affairs of India. The developments were made during the visit of an Indian government delegation to Myanmar this week. The Sittwe Port […]

Permission for some businesses to reopen in Yangon ‘appropriate’: UMFCCI

Business insiders and executives have commended the government’s move to allow some business to reopen amid COVID-19. “Allowing cut-make-pack (CMP) factories, workplaces, and small and medium-sized enterprises (SMEs) to resume is an appropriate move. The factory closures have hurt workers’ incomes and has been bad for the country’s economy,” said U Maung Maung Lay, the […]