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Invitation for Bids – Yangon Mandalay Railway Improvement Project Phase II, Deadline: 18th September, 2019

The Republic of the Union of Myanmar Ministry of Transport and Communications Yangon Mandalay Railway Improvement Project Phase II Invitation for Bids Date: 5th August 2019 Loan Agreement No: MY-P26 dated 29th March, 2018 IFB No: IFB-MR/BD/2107 The Government of the Republic of the Union of Myanmar has received a loan from Japan International Cooperation […]

Pernod Ricard kicks off Myanmar spirits JV

Pernod Ricard has completed the formation of its Myanmar spirits joint-venture. The partnership, first announced last year, sees Pernod begin operations in Myanmar with existing joint-venture Access Myanmar Distribution Co. just-drinks understands that Pernod will take a 34% stake in the new arrangement, with the remaining control shared among Access’s three partners. The JV will […]

Foreign partners poised to aid growth in Myanmar’s life insurance sector

YANGON—While joint-venture proposals from foreign insurance companies are being reviewed by the country’s insurance business regulatory board, some of Myanmar’s largest insurance companies are already building bridges to leverage foreign expertise for the growth of Myanmar’s nascent insurance industry. After two years of delays, Myanmar began allowing insurance companies to operate in the country’s life […]

Kayah State to get US$50 million metal refinery

A Myanmar-China joint venture will be building a metal refinery worth US$50 million located in Myanmar’s eastern Kayah State’s capital of Loikaw. The Directorate of Investment and Company Administration (DICA) said in a statement that the joint venture, Global South Industrial Company (GSIC), was granted permission to build the refinery in Loikaw’s industrial zone. DICA […]

Pernod Ricard takes 34% stake in Yoma whisky joint venture

FRENCH spirits giant Pernod Ricard has completed a deal to take a 34 per cent stake in Seagram MM Holdings, a joint venture between mainboard-listed Yoma Strategic, the Win Brothers and Delta Capital Myanmar which will produce and distribute whisky in Myanmar. Seagram MM Holdings is the holding company of Seagram Myanmar Company, a subsidiary […]

Japan insurers enter Myanmar in joint-venture frenzy

TOKYO/YANGON — Five Japanese insurers have teamed up with local players to enter Myanmar’s fledgling insurance market, looking to provide such products as annuities and automobile policies to a largely uninsured population. The Myanmar government announced in January that foreign insurance companies would be allowed offer products in the country, either on their own or […]

PetroChina opens its first filling station in Myanmar

PetroChina International has launched its service station in Myanmar, marking the Chinese state-run oil major’s first foray into the country’s fuel station market. The filling station is a joint venture between PetroChina International’s Singapore unit Singapore Petroleum Co (SPC) and Shwe Taung Energy Co, a subsidiary of Shwe Taung Group. Shwe Taung said it will […]

Ex-Blackwater boss moves into Myanmar security

Frontier Services Group (FSG), founded by former US military contractor Erik Prince, says it is moving into Myanmar to provide security services to Chinese and other foreign investors. Blackwater, a now-defunct private military contractor founded by Mr Prince, was condemned internationally after its employees allegedly opened fire on a Baghdad street in 2007, killing at […]

Metro’s Myanmar subsidiary secures US$20m IFC loan

The Myanmar subsidiary of German retail group Metro AG has raised a US$20m loan from the International Finance Corporation, the private-sector arm of the World Bank. The subsidiary Metro Wholesale Myanmar is a 85pc-15pc joint venture between Frankfurt-listed Metro AG and Singapore-listed Yoma Strategic Holdings, offering one-stop wholesale food service distribution for hotels, restaurants, retailers, […]

Invitation Letter for Expression Of Interest (EOI) To Form Joint Venture to carry on Life Insurance Business in Myanmar. Closing Date 11 Feb 2019

The Government of the Republic of the Union of Myanmar (“the Union Government” or “the Government”) has started the process of reform in the insurance sector by granting licences to local insurers since 2013. Since then, there has been a number of local insurers and foreign representative offices established. In order to increase foreign investment […]