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Yoma Strategic’s Myanmar project nets funding from International Finance Corp

THE World Bank Group’s International Finance Corporation (IFC) is taking a stake in a Yoma Strategic Holdings project to power rural communities, the mainboard-listed Yoma Strategic said on Tuesday. The IFC is set to hold a 30 per cent interest in Yoma Micro Power, a joint-venture company that builds, owns and runs solar- and diesel-powered […]

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 […]

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 sees boost in private investment in agriculture

Investment in agriculture by private companies is increasing in Myanmar, raising expectations that the modernization of the sector will progress at last. Myanmar Agribusiness Public Corp. (Mapco) has built a large rice mill in a bid to boost exports of rice, while Myanma Awba Group has launched a project to build an agricultural chemical factory. […]

Carriers soup up networks as new rivals come knocking

Myanmar’s wireless market is embarking on a new chapter, now that the bulk of the country’s population is connected. Norwegian telecom company Telenor runs this cellphone shop in Yangon. The Southeast Asian nation’s mobile penetration rate has shot up from 9% at the end of 2013 to an estimated 70% or so. Auctions for new […]

IFC signs services agreement for hydroelectric development with Myanmar

World Bank Group member, International Finance Corp., in September signed an advisory services agreement with the government of Myanmar to help improve environmental and social risk management in hydropower projects, according a press release from the IFC. Myanmar has recently approved a new electricity law and is finalizing the procedures for environmental impact assessment. The […]