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National Planning Law Expects Highest Growth in Telecom, Industrial, Financial Sectors

Amid a slowing economy and complaints from the business community, Myanmar’s parliament has approved a National Planning Law for the 2018-2019 fiscal year which expects to see the highest growth rate in the country’s telecommunications, industrial and financial sectors. On Wednesday, President U Win Myint signed the bill with the approval of the Union Parliament […]

Myanmar’s Solar Lifeline

It is easy to forget how small changes can sometimes reap the most dramatic benefits. Take the humble fridge. What was once a marvel of technological prowess, has become standard fare. To many in the western world, that is. To those living off the beaten track, off the grid, up in the dusty red Burmese […]

Financial services among the fastest growing sectors in Myanmar

The financial sector rose the most among 15 sectors managed by the government in the first six months of the 2017-18 fiscal year, growing 22 percent as a result of the implementation of new financial services, U Set Aung, deputy minister of the Ministry of Planning and Finance, at Pyidaungsu Hluttaw meeting on Thursday. “If […]

XMH hopes to enter Myanmar through JV with local partner

XMH Holdings Ltd, a diesel engine, propulsion and power generating solution provider in the marine and industrial sectors, is hoping to make inroads into Myanmar through a joint venture. The joint venture company, formed with Myanmar Marco Polo Co Ltd (MMP), will manufacture, assemble and sell generator sets and related products in Myanmar, as well […]

Fisheries exports reaches about $450 million: MoC

Myanmar earned about US$450 million from the export of fisheries products over the first ten months of this fiscal year, $76 million more than at the same time last year, according to official figures issued by the Commerce Ministry. The country exported $368.843 million worth fisheries products to international trade partners from private sector in […]

Myanmar admits more foreign banks ahead of NLD accession

BANGKOK — Myanmar has given preliminary operating licenses to four more foreign banks, following the government’s decision in late 2014 to grant licenses to an initial nine foreign banks. The move — just before a new administration led by Aung San Suu Kyi takes over on April 1 — highlights a rush by the incumbent […]

12 Companies Bid to Develop Infrastructure in Kyaukphyu SEZ

YANGOON — Eleven foreign companies and one local company have expressed interest in developing infrastructure for the Kyaukphyu Special Economic Zone (SEZ) in Arakan State. Three of the companies will be awarded tenders, according to the tender selection board. “Currently, 12 companies have expressed interest. Some companies have merged with four or five other companies […]

Japanese entrepreneurs to visit Myanmar for potential investment

Business people from over twenty Japanese firms will visit Myanmar to explore investment opportunities, according to Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI). About 50 business people from 20 industrial sectors, such as machinery, electric and power, construction and garment, will be led by the Executive Vice President of Japan External […]