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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, […]

Authorities approve Htantabin, Hlegu projects

Members of Parliament (MPs) for the regional Hluttaw of Yangon has finally given the green light for the Htantabin and Hlegu industrial park projects to the north of Yangon city. The MPs approved both projects after Minister of Karen National Affairs Naw Pang Thinzar Myo, who is also the chair of the Yangon Region Investment […]

Myanmar on the radar as investors shift funds from China

Myanmar is well-positioned to benefit from the flight of capital to the Asean region as the trade war between China and the US plays out, officials said. ‘’Myanmar is one of the targeted countries for businesses planning to shift out of China to avoid the fallout from the trade war,” Li Fuquan, the chair of […]

Suu Kyi woos Czech investors to invest in Myanmar

In light of incentives for foreign investors including a seven-year income tax reduction in its three special economic zones (SEZ), Myanmar deserves to achieve responsible investments from Czech businesses in the coming months, State CounsellorAung San SuuKyisaid at the Czech-Myanmar Business Forum held in Prague. “Myanmar has the potential to grow into a market similar […]

Investors asked to fund Yangon project bank

The Yangon Region government yesterday invited investments in projects included in the Yangon Project Bank, a pool of 80 priority projects located in the region. These include new city development, housing, redevelopment, industrial, port, fishery, agriculture, transportation and public space projects, which will be implemented under public-private partnership (PPP) agreements. Phase 1 of the New […]

Govt to invite investors for poppy-substitute efforts

The parliament was to discuss incentives that would entice private companies in poppy-substitute projects in the country in a bid to help reduce, if not eradicate the drug menace, a member of the parliament said. Member of parliament Daw Khin Hnin Thit representing Padaung township in Bago Region proposed to tap private investors as the […]