Oway Group receives private equity to expand in competitive taxi market

Oway Group last week received $7 million in fresh funds from Mekong-focused private equity firm Belt Road Capital Management (BRCM), which is headquartered in Cambodia. The online travel service provider, which is founded by local entrepreneur Nay Aung, operates the mobile taxi-hailing service Oway Ride as well as oway.com.mm, Myanmar’s largest online travel portal. The […]

Sales for The Peninsula Residences Yangon announced

Yoma Strategic Holdings Ltd. along with its partners, First Myanmar Investment Company Limited and The Hong Kong and Shanghai Hotels, Limited (HSH) have jointly announced the launch of sales for The Peninsula Residences Yangon, according to a press release. Located in the historic heart of downtown Yangon , at the point where Sule Pagoda Road […]

A New Harbinger of Good Governance – Myanmar’s Institute of Directors

This week marks the launch of an important market institution – the Myanmar Institute of Directors (MIoD), the first independent, private sector-led organization promoting best corporate governance standards and practices in the country. This is a significant step in Myanmar’s ongoing market reforms and sends a strong signal to the global business community the country’s […]

Anthem Asia raises US$40 to US$50 million for Myanmar SME Venture Fund

Private equity firm Anthem Asia announced recently that it is raising US$40 to US$50 million for its Myanmar SME Venture Fund to support the national and regional expansion of local businesses. Their investment will focus on small and medium enterprises, agribusiness, affordable housing, health, education, as well as climate change mitigation and adaptation. This will […]

Myanmar power plans could spare the Salween

Myanmar and Thailand have announced plans for major gas power projects, as well as greater moves to adopt renewable energy sources. The news will cheer conservationists battling to prevent large dams being built on major rivers in the north of Myanmar. Myanmar’s Aung San Suu Kyi-led government aims to tackle the country’s chronic power shortage […]

Yangon elevated expressway doesn’t need MIC approval: official

The Yangon elevated expressway project is a government-to-government project and it doesn’t need approval from the Myanmar Investment Commission (MIC), according to the MIC. “Government-to-government projects are not submitted to the MIC. If the investment is made by public, private and partnership and as a developer, it is submitted to the MIC. The infrastructure projects […]

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 […]

Locals Upset Over IFC Meeting Regarding Salween Hydropower Project

MANDALAY — Action for Shan State Rivers (ASSR) said on Monday that locals were saddened by the meeting of the International Finance Corporation (IFC) concerning the controversial hydropower projects on the Salween River in Shan State. “Despite disagreements, the IFC held a stakeholder discussion in Taunggyi on Monday, without representatives of impacted locals or local […]

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 […]

IFC, Australia Back Nationwide Study on Myanmar’s Hydropower

AS MYANMAR needs more electricity to realise its development goals during the first civilian government’s term, two ministries have been holding a series of discussions until the third week of January to finalise the countrywide strategic environmental assessment (SEA) on hydropower potential by March. The series of discussions started with a stakeholder meeting in Myitkyina, […]