Manufacturing key to Myanmar’s growth

Myanmar has been transitioning to a more open and market-oriented economy over the past few years. While progress has been made throughout the economy, manufacturing has witnessed rapid expansion, accounting for 15 percent of GDP in 2007 but growing to 24pc in 2017. Garment manufacturing, in particular, has grown rapidly, with exports expected to surpass […]

Fisheries sector not developing due to no funding

Investments in Myanmar’s fisheries sector are almost all from the private sector and it is time to consider more help from the government for the sake of improving domestic food security and generating more revenue from exports says U Win Kyaing, general secretary of the Myanmar Fisheries Federation. The lack of financing is one of […]

Seed Myanmar closes six-digit investment in delivery startup

Singapore-based Seed Myanmar Ventures Limited, a country-focused venture capital fund targeting early stage technology companies, has closed a six-digit round in Marathon Myanmar Company Limited, a delivery service platform. The investment values Marathon Myanmar in the seven-digit dollar range. Seed Myanmar will pick up a minority stake in the startup, which has secured its largest […]

FDI in Thilawa SEZ project declines by $ 18.5 m

From April to August of the mini budget period, the foreign investments in Thilawa Special Economic Zone Project has dropped by US$ 18.5 million compared with the same period last year, according to a press conference by Myanmar Investment Commission on August 29. Than Aung Kyaw, Deputy Director of Directorate of Investment and Companies Administration […]

New city development needed to draw foreign investments: Chief Minister

Yangon must be developed further to free up space for new industrial zones and residences, which, in turn, will draw more foreign investors to the city, said U Phyo Min Thein, the region’s chief minister, during an August 24 press conference detailing his government’s plans for the coming quarters. The chief minister this year announced […]

UMFCCI suggests four points for the country’s economy

Zaw Min Win, President of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) submitted the four-point suggestion to Myanmar State Counsellor Aung San Suu Kyi. On August 27, Myanmar State Counsellor Aung San Suu Kyi held a talk with local entrepreneurs at Nay Pyi Taw. The four points are: export promotion, […]

Mysquare : AIM-listed MySQUAR acquires MyPAY Myanmar, raises $2.9m to fund deal

AIM-listed MySQUAR Ltd, a Myanmar-language social media, entertainment and payment platform, has announced the acquisition of mobile payment operator MyPAY Myanmar Ltd, for a consideration of 2 million ($2.6 million), according to its filing on the London Stock Exchange. MySQUAR simultaneously also announced raising 2.2 million ($2.9 million) through a convertible bond issue offering to […]

Ooredoo mulls 5G for Myanmar

Ooredoo is preparing significant investment to bring 5G mobile networks to Myanmar, according to the company’s chief executive officer, Vikram Sinha. Ooredoo is celebrating 4 years in Myanmar and has recently completed further testing of its 4G Pro network upgrade project – a move which the company says demonstrates its readiness to bring next generation […]

MIC approves investment in new ILBC campuses

The International Language & Business Center (ILBC) has been permitted to invest $52 million to provide private educational services in Yangon, Mandalay, Nay Pyi Taw, according to the Myanmar Investment Commission (MIC). ILBC is planning to launch the new campuses in April next year. The organisation has already established 30 campuses in 9 major cities […]

Well-Connected ‘Ethnic Affairs Association’ Lobbying to Develop Popular Yangon Park

YANGON – The Myanmar Ethnic Entrepreneurs Association (MEEA) has urged the Ethnic Affairs Ministry to take over Yangon’s National Races Village from the Ministry of Agriculture so that the site can be developed with international partners. The 220-hectare park is located near the Thanlyin-Yangon Bridge in Thaketa Township. It features replicas of houses in the […]