Tourism industry invests in tech amid COVID-19

The hospitality and tourism industry is investing more in technology during the COVID-19 pandemic, said U Than Htut, vice chair of Myanmar Hoteliers Association. “We face challenges in technology in COVID-19 crisis. We have to make more investment and changes in technology,” he said. Local conglomerate Eden Group says more investments in technology is necessary […]

Finland-backed fund invests in Myanmar microfinance sector

Finnfund, which invests in responsible and profitable businesses in developing countries, has injected US$5.5 million in Early Dawn Microfinance Co Ltd, the third largest microfinance company in Myanmar in terms of client outreach. The financing will support Early Dawn’s expansion in Myanmar’s underserved townships and peri-urban areas. Finnfund gets its funding from the State of […]

Myanmar UMG group invests in Indonesia’s SocialBuzz

JAKARTA — UMG Idealab, the early-stage venture capital arm of Myanmar conglomerate UMG group, has invested in SociaBuzz, an Indonesian online marketplace that connects businesses or individuals with social media influencers, creators and other kinds of talent. The size of the deal could not be ascertained. SocialBuzz will use the capital to expand its line […]

UMG Idealab invests in Myanmar’s Zay Chin, Indonesia’s Moodco

UMG Idealab, the early-stage venture capital arm of Myanmar trade conglomerate UMG Group, has added two new companies to its portfolio after closing investments in Yangon-based online grocery delivery startup Zay Chin and Indonesian chocolate-maker Moodco last month. The VC firm did not disclose the size of the investments but said both were seed-stage deals. […]

Thai developer invests $1bn to put Myanmar industry on global map

NAYPYITAW — Thai industrial estate developer Amata Corp. plans to build an industrial complex with an investment of $1 billion in Yangon, Myanmar’s biggest city. The complex will provide important industrial infrastructure in a nation with few global-standard industrial zones suitable for foreign companies. Amata recently signed a land lease agreement and joint venture agreement […]

Hong Kong garment firm invests $5.5m in Myanmar

Hong Kong-based Prosperity Knitwear Myanmar Ltd has invested US$5.5 million in setting up a garment factory at the former Thilawa industrial zone area this month, and it plans to up the investment to up to $45 million in 2015. The firm has investments in China, Hong Kong and Bangladesh. The opening ceremony of the company’s […]