Starbucks extends preparation period for Myanmar investment

Starbucks has been plan­ning to open 20 Starbuck stores using a $6 million investment, and they have an­nounced an extension to their preparation period. “They have extended their preparation period because they are weighing the decision to enter Myanmar. If they de­cide not to invest in Myanmar, they will be required to return the investment […]

Myanmar consumers still lack wide awareness of cashless payment systems

Although more than 40 percent of Myanmar consumers expect to utilise cashless payment in the coming year, awareness of contactless and QR systems is still low, according to a recent study by Visa exploring Myanmar consumers’ perception, attitudes, and behaviours towards payment and new payment systems. The study surveyed 504 people across Yangon, Pathein, Mandalay […]

European car makers express interest in Myanmar

The Czech Republic has announced interest to assemble Skoda cars in Myanmar, U Thaung Tun, Union minister for Investment and Foreign Economic Relations, said last week. “The Czechs sold the Skoda in Myanmar in the past and now they’ve made an offer to start production here,” U Thaung Tun said at an investment promotion event […]

Shut down of Moehti Moemi gold mine helps no one: company

The government’s suspension of the Moehti Moemi gold mining concession had affected the lives of 5000 company workers, and had cost the government between 26.6 kilograms and 53.2kg of gold in lost monthly revenue, U Soe Tun Shein, chairman of National Prosperity Co Ltd, which operated the concession, said at a press conference last Friday. […]

Myanmar moves to stave off credit crunch

NAPYITAW — Myanmar’s banking system is facing tough new regulations that could take more than $1 billion worth of local currency out of circulation, severely curtail lending and badly hurt the economy if a tight compliance deadline is not eased, senior bankers have warned. The Central Bank of Myanmar published its first set of modern […]

Few have insurance but interest is rising

Few business people in Myanmar buy insurance policies to cover their lives, let alone goods and vehicles, said Dr Sandar Oo, managing director of Myanmar Insurance Enterprise (MIE), which is under the Ministry of Planning and Finance. “There are policies under the (MIE) which cover all the losses suffered,” she added. Moreover, the MIE is […]

Department of Rural Development invites Expressions of Interest for eligible suppliers to express their interest; Closing Date: Oct 30, 2015

Subscribe to our tender alert mailing list Development Association (IDA) toward the cost of the National Community Driven Development Project (NCDDP). The Department of Rural Development (DRD) of the Ministry of Livestock, Fisheries and Rural Development, in its role as implementing agency of the NCDDP, intends to apply a portion of the proceeds of this […]

Myawady Industrial Zone attracts regional interest

Japan, Thailand, Korea and China have all voiced interest to invest in the Myawady Industrial Zone which is currently under construction near the border with Thailand. The Myawady Industrial Zone Project was started in April 2013 and is running ahead of schedule with 60 percent of the project already completed. It is expected to be […]

Four Thai banks vie for licences in Myanmar

Thai banks with representative offices in Myanmar have a strong interest in applying for restricted-services licences, after that country recently opened up for such applications from foreign banks for the first time. Four Thai banks have representative offices in Myanmar – Bangkok Bank, Krungthai Bank, Siam Commercial Bank and Kasikorn-bank. If they can obtain the […]