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Parami Energy to invest US$25m for LPG distribution

Parami Energy will accelerate the distribution of liquefied petroleum gas (LPG) next year, CEO U Pyi Wa Tun said yesterday. He said in a press conference that starting from December 12, 150,000 Parami LPG cylinders will be distributed in the market and before April 2019, 50pc of the LPG cylinders will be distributed in Yangon […]

Foreign banks allowed to set foreign currency loan interest rate

The Central Bank of Myanmar (CBM) said foreign banks are free to set their own interest rate as long as those loans are in foreign currencies. Foreign banks with branches in the country are now allowed to do wholesale banking services and other financial services, according to the latest Directive issued by the CBM last […]

Is Myanmar Ready to Become a Regional Trade and Supply Hub?

Japanese Prime Minister Shinzo Abe recently pledged to promote more than 150 quality infrastructure projects in five nations in the Mekong River subregion—Myanmar, Thailand, Vietnam, Cambodia and Laos—under a new blueprint, the Tokyo Strategy 2018 for Mekong-Japan Cooperation, which will be effective from 2019 to 2021. Japan and China are competing for influence in Southeast […]

Corporate Japan urges Myanmar to address business concerns

The most senior Japanese business leader in Myanmar urged the government to recognise how liberalisation, efficient bureaucracy and reliable power supply allowed Thilawa Special Economic Zone (SEZ) to attract considerable investments. He also warned that current restrictions placed on foreign firms in the retail and wholesale sector are already “the maximum” but commended the ministry’s […]

Impoverished Chin sees little progress in drawing investment

Long plagued by poor road connectivity and the absence of power infrastructure, Chin has not succeeded in securing investments to develop the region thus far, but opportunities in tourism, energy and agribusiness abound. According to the “Opportunities and Challenges for Local Business Development in Chin State” report issued by the Gender and Development Institute of […]

Chinese firm finalises new Yangon city proposal

The government body in charge of developing an ambitious new Yangon city project has reached the final stage in negotiations with China Communications Construction Company (CCCC) in preparing pre-project documents (PPD). Launched by the regional government in March via a 100pc government-owned New Yangon Development Co (NYDC), the new city project covers an area twice […]

Empowering small businesses via e-commerce – BarLoLo.com

Poor road infrastructure and rampant illicit trade have long prevented small businesses in Myanmar from reaching out to the wider consumer market. But an e-commerce start-up is determined to break these barriers and promote economic inclusion by providing an online platform for those sellers and merchants. In other words, it is to make e-commerce work […]

Villagers Support Dawei SEZ Resumption but Demand Fairness

YANGON—Villagers residing on the site of the initial phase of the Dawei Special Economic Zone (SEZ) in Tanintharyi Division cautiously welcomed a recent agreement by Thailand and Myanmar to resume the project’s initial phase and upgrade a highway leading to the location, saying their homes are almost entirely lacking in basic services. Early this month, […]

Myanmar’s Yangon International Airport reveals growth plans

Myanmar’s Yangon International Airport is to be further upgraded to better equip it to accommodate more international traffic. Operator, Yangon Aerodrome Company Limited (YACL), has also revealed that it is stepping up its marketing efforts in a bid to develop its international route network. The announcements come despite the airport admitting that it is likely […]

VPower’s Myingyan plant to start operation next year

Hong Kong-listed VPower Group inked a deal with the government to operate a rental power project in Mandalay Region. The company signed a power purchase agreement with the Ministry of Electricity and Energy’s Electric Power Generation Enterprise to run a 90MW gas engine power plant in Myingyan for five years. The company said it plans […]