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Myanmar tycoon open to foreign investment in wake of Ayala deal

Myanmar tycoon Win Aung is open to foreign investment in the listed industrial-estate provider he oversees, following Ayala Corp.’s tie up with a firm traded on the nation’s fledgling stock exchange. In an interview in Yangon, Win Aung said a stake sale is an option as he plans to expand Myanmar Thilawa SEZ Holdings Pcl, […]

Myanmar based trucking startup Kone Si gets additional funding for nationwide expansion

Yangon-based on-demand trucking start-up, Kone Si has received a six-digit investment for nationwide expansion from Yangon Capital Partners (YCP), a Myanmar-focused venture capital under Trust Venture Partners, a local financial advisory firm, and Nest Tech– a Vietnam-based venture capital company as reported by local media. This is the second round of investment for Kone Si […]

Land bank to go online

Myanmar’s land bank will be fully digitalised and online access given to investors applying for land on which to do business in the country,” said U Thaung Tun, chair of Myanmar Investment Commission. Obtaining land is the main challenge for both local and foreign investors when they set up businesses in Myanmar. The country is […]

Loss-making factories should be privatised, officials say

Government officials have raised the need to restructure most of Myanmar’s state-owned factories, as just four out of the 57 factories controlled by the Ministry of Industry (MOI) are now making money. Around one third of these factories need to be closed down with the MOI losing about K300 billion-K400 billion each year, said U […]

Ayala to benefit from Myanmar investment

DIVERSIFIED conglomerate Ayala Corp. is seen to benefit in the long run from its investment in Myanmar-based Yoma Group. Last week, the listed firm announced that it was acquiring a maximum 20-percent stake in Yoma Group for $237.5 million to further its presence in the Association of Southeast Asian Nation (Asean) region. Ayala Center, Makati […]

Two Korean Banks Hopeful of Winning Approval to Open Myanmar Branches

YANGON—Two South Korean banks involved separately in a low-income housing project and a joint industrial complex construction project in Yangon are hopeful of winning Myanmar government approval to offer banking services in the country soon. If they are granted licenses, KB Kookmin Bank, one of South Korea’s largest banks, and Industrial Bank of Korea (IBK) […]

Thilawa SEZ set to benefit from east west economic corridor

The Thilawa Special Economic Zone near Yangon is set to become a vital link in the East West Economic Corridor linking Myanmar, Thailand, Laos, Cambodia and Vietnam says an official from the Japan International Cooperation Agency (JICA). The East West Economic Corridor development project aims to link transportation and logistics networks to promote investment and […]

Economy to improve as Myanmar opens up to foreign investment

Myanmar’s economy is forecast to expand to 6.4 percent in the current fiscal year and pick up to 6.8 percent in the next, according to a report on the economy in Southeast Asia released by the Institute of Chartered Accountants in England and Wales (ICAEW) on Tuesday. The report said that the forecast for Myanmar’s […]

Myanmar seeks to establish Myanmar-India-China economic corridor

As part of efforts to make Myanmar the doorway to ASEAN door, the government will try to establish a Myanmar-India-China economic corridor, says Yangon Region Chief Minister U Phyo Min Thein. The potential for Myanmar to become a trade hub is good because of its location between two rapidly developing countries with large populations U […]

Myanmar, S’pore ink investment promotion and protection deal

YANGON—Myanmar inked an agreement with Singapore on Tuesday to promote and protect investment between the two countries, paving the way to boost trade relations. As of February, Singapore is Myanmar’s largest source of foreign investment. The city-state has invested more than US$22 billion (33.6 trillion kyats), nearly 30 percent of total foreign investment in Myanmar, […]