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Citizen investments hit around Ks 6985 bln in three years

Until March this year, the Myanmar Investment Commission (MIC) allowed citizen investments worth over Ks 18,609 billion, with the real estate sector, manufacturing, transportation, hotel and tourism and construction sectors topping the list. A total of 1,549 local businesses invested Ks 18609187.355 million in 11 sectors. The investment in real estate sector reached Ks 4,172.850 […]

Domestic airlines need mergers, partnerships to sustain

There is a need for domestic airlines to merge or form partnerships with foreign airlines in order to sustain themselves in the longer-term. Stakeholders believe that the way forward for domestic airlines, which continue to be loss-making due to lower number of passengers and higher costs, would be to either merge their operations or form […]

JICA to lend US$100m to local SMEs in 2018-19

Japan International Cooperation Agency (JICA) will lend 11.5 billion Japanese yen (K151.685 billion) to small and medium-sized enterprises (SMEs) in the fiscal year of 2018-19 through domestic banks. This decision was officially announced on September 5. The JICA’s Official Development Assistance (ODA) two-step loan will be managed by state-owned Myanma Economic Bank under its SME […]

Announcement of Myanmar Investment Commission, Invitation to invest within Kayin State

1. The Myanmar Investment Commission has been holding Investment Fairs, rotating yearly, across the States and Regions in order to promote and invite investment for balanced economic development. Accordingly, this year’s Investment Fair will be held in Hpa-An Township, Kayin State on 24th November, 2017. 2. Investing in Kayin State would be beneficial for investors […]

Twelve enterprises recently permitted by MIC

The Myanmar Investment Commission (MIC) permitted 12 enterprises which are in line with investment regulations and laws in the current fiscal year 2017-2018, according to a recent meeting of MIC. A total of 4,343 job opportunities are created from those permitted enterprises. They consist of two Myanmar citizen enterprises, two foreign enterprises and eight joint […]

Mandalay’s development hampered by red tape: survey

Based on responses from the city’s business community, the survey says that Mandalay and its surrounding states and regions have better transportation links with major trading partners China, India and Thailand than its main rival, Yangon. The survey, which asked local companies how the city could develop and what challenges they faced, was conducted last […]

Myanmar will host 8 million visitors by 2020

YANGON, 10 April 2015: Myanmar’s Ministry of Hotels and Tourism says the country’s tourism master plan is now underway following the recommendations of the Asia Development Bank and the Norwegian government that funded and wrote the plan. Eleven Myanmar media quoted tourism minister, Htay Aung, as saying the master plan includes 38 projects, requiring an […]

On Scarcity and Human Resource Pricing in Myanmar

Rounding up a week-long business trip in Yangon, I was having a round of drinks with friends at the Gallery Bar in the Sule Shangri-La Hotel in downtown Yangon, while discussing all that we’d learnt and discovered over the past week. One comment came up as particularly poignant, “Anyone hoping to build a successful business […]

Best Western Hotel opens in Yangon’s Chinatown

Best Western International has launched a new hotel in Yangon’s Chinatown, the second of its properties in Myanmar after the opening of the Best Western Green Hill Hotel in Yangon in late 2013. Located in the heart of the bustling downtown district, the hotel consists of 91 deluxe rooms, all featuring such amenities as flat-screen […]

Yoma shares surge on lease extension for key Myanmar site

SINGAPORE — Property developer Yoma Strategic Holdings has won approval from the Myanmar Investment Commission for a lease extension that will let it redevelop the former headquarters of the Burma Railways Company into a five-star hotel. The approval, obtained after protracted negotiations with the authorities, yesterday drove shares of Singapore-listed Yoma sharply higher amid heavy […]