United International Group to Open Five Amata Hotels in 2018-19

United International Group, owner and operator of Amata Hotels in Myanmar, will open five more hotels in the country, U Win Aung, group CEO of United International Group told The Myanmar Times Monday. The company will open two new Amata hotels at Inle Lake and Pindaya in Shan State, two in the Myeik archipelago at Tanintharyi Region […]

Yangon to Build $400 Million Elevated Expressway

The Ministry of Construction and International Finance Corporation (IFC) on January 11 signed an advisory services agreement to build an elevated expressway connecting Yangon port, Thilawa SEZ, Yangon International Airport, Yangon Industrial Zone and Yangon-Mandalay expressway. The 20.5-kilometre elevated expressway will cost US$400 million (535.86 billion kyat), with maintenance costs to be paid for by […]

Myanmar Allows Import of U.S. Corn

Myanmar imposed new pest risk analysis requirements for imported plant-related commodities, including U.S. corn, on Jan. 1, 2017. Under the new directive, the Myanmar Plant Protection Division (PPD) prohibited the import of plant and plant-related products unless the exporting country provided this new information, which includes how the country deals with pest outbreaks and is […]

IFC, Myanmar Introduce ag Guidelines and Protocol

YANGON, MYANMAR — The International Finance Corp. (IFC) has partnered with the Department of Agriculture of Myanmar’s Ministry of Agriculture, Livestock and Irrigation (MoALI) to introduce guidelines geared toward improving the productivity and profitability of farmers through sustainable farming. The Good Agricultural Practices (GAP) Protocol and Guidelines specifically cover 15 crops, including rice and peanuts. […]

Myanmar tackles food safety in bid to boost agricultural exports

MYANMAR plans to improve food safety in a bid to boost agricultural exports and extract more value from a sector that accounts for 38 per cent of the country’s gross domestic product. Ye Tint Tun, director general of the Department of Agriculture, said exports of agricultural products made up 23 per cent of Myanmar’s export […]

Developer brushes off concerns about Myotha Industrial Park

DEVELOPER Mandalay Myotha Industrial Development has brushed off human rights concerns and accusations in relation to the Myotha Industrial Park in Mandalay, while the International Federation for Human Rights argued that the process for the establishment of the park underscores the failure by the developer to conduct proper human rights due diligence. Tensions and confrontations […]

IFC Approves Support for Controversial Tycoon’s Mandalay Cement Project

The World Bank’s private sector lending arm the International Finance Corporation (IFC) has given the go ahead to support a multi-million dollar plan to expand a cement factory in Mandalay Region, operated by the Shwe Taung Conglomerate. The firm’s chairman, Aik Htun, had been alleged by US authorities to have had ties to the drug […]

Manila Water Inks Deal with WB Investment Arm

Manila Water Co. Inc.’s overseas business unit has signed a memorandum of understanding with the International Finance Corp. (IFC) on working together in projects in the Asia Pacific region, particularly in the south east. This develops as Manila Water Asia Pacific Pte. Ltd. aims to add momentum to the Ayala group’s expansion within the region, […]

Myanmar’s Oway Group to close eight-digit funding round

Myanmar’s leading travel booking and ride-hailing service provider Oway Group said it is currently in discussions with potential investors to close an eight-digit funding round in October. As part of the round, IFC has made an equity investment worth US$2 million in the startup in early 2017, marking the World Bank arm’s first investment in […]

US Solar Firm Tackles Cost Barriers Through Instalment System

A US-based solar product company launched its services in Myanmar with the support of the International Finance Corporation and United Nations Capital Development Fund to widen access to clean energy among the rural population. The opening of its first store in Myanmar was accompanied with the introduction of the instalment system for purchases. Greenlight Planet […]