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Mon State throws open doors for investors in six sectors

The Mon State government is inviting investors to participate in six sectors to help boost the state’s economy. This was announced during the Mon State Investment Fair held last Friday and Saturday. The six sectors that the state government has decided to focus on are agriculture, fisheries, tourism, trade and logistics, manufacturing and infrastructure. “We […]

Lower tax rates, higher liquidity expected to boost property market

Real estate developers in Myanmar are expecting a boost in the number of property transactions in fiscal 2019-20, which they hope will help jumpstart the local property market. One reason demand will rise is as a result of a reduction in tax rates on previously undeclared income, which is expected to encourage those who have […]

Mandalay poultry farmers blame high chick prices for losses

Poultry farms in Mandalay Region are suffering losses because of high chick prices and can’t make enough money to offset production costs, according to U Kyaw Htin, chair of the Mandalay Livestock Federation. The price of chicks should be fixed at about K600, but it was nearly K800 in late August, so it could have […]

Keen investor interest in privatisation of Yangon water system

Investors are showing keen interest in managing and distributing water in Yangon, with a total of 32 local and foreign companies having submitted expressions of interest (EOI) for the job since August 28, when the Yangon City Development Committee (YCDC) first announced its privatisation plans. The private sector has until October 28 to submit EOIs, […]

Myanmar Set to Ink Pact with China on Border Cooperation Zones

The Myanmar government is ready to sign a framework agreement with China on the establishment of cross-border economic cooperation zones, paving the way for the implementation of Beijing’s grand infrastructure plans in the country as part of its Belt and Road Initiative (BRI). The assistant permanent secretary and spokesperson for the Ministry of Commerce, U […]

Myanmar fitness app Flexible Pass raises 6-figure pre-series A funding

Myanmar health and fitness app Flexible Pass has secured a six-digit amount in pre-series A funding from existing investors Yangon Capital Partners, Seed Myanmar, and Nest Tech. Flexible Pass’ mobile app, which is available for both Android and iOS devices, allows users to create an account, buy Flexible Pass points, and make bookings at 150 […]

Myanmar ride-hailer’s CEO looks to raise funds

Oway, Myanmar’s largest online travel and ride-hailing company, is in the market to raise capital to ramp up its expansion across the country. Founded in 2012, Oway started out as an online travel platform and entered the ride-hailing market in 2015. The company has to date raised total funds of $24.7 million from investors including […]

Govt to demand more info from prospective investors

The government has announced it will require more detailed documentation for investment proposals from August 1 following an investigation by The Myanmar Times into repeated transparency failures under the investment body. In a notification signed on July 18 but released on July 22, the Ministry of Investment and Foreign Economic Relations announced a series of […]

Dawei SEZ stands better chance with Japanese participation, officials say

The governments of Myanmar, Japan and Thailand will be meeting over the troubled Dawei special economic zone (SEZ) project that has stalled since 2013 for lack of funding. Ministers will form a Joint Cooperation Committee to discuss how Japan can be more involved in developing the SEZ. Located 20 kilometres north of Dawei, capital of […]

Microfinance growth expected to drive higher financial inclusion

Efforts are being made to raise the rate of financial inclusion in the Myanmar. Under the Myanmar Financial Inclusion Roadmap for 2019 to 2023, authorities are working with the UN Capital Development Fund (UNCDF) to raise the percentage of the population covered by the financial sector to 60 percent from 48pc currently, said Willian Naing, […]