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Asia powerhouses unite as Ayala invests in Myanmar conglomerate

MANILA/YANGON — Philippine conglomerate Ayala will invest $238 million in two Myanmar-focused companies led by tycoon Serge Pun, a deal that links a pair of Southeast Asian corporate powerhouses in a country struggling to draw much-needed foreign investment. Ayala will take a 20% stake in both Singapore-listed Yoma Strategic Holdings and First Myanmar Investment, which […]

YCDC to introduce kiosks near bus stops

The Yangon City Development Committee (YCDC) is planning to install 5×5-foot food kiosks near bus stops in Yangon, said Yangon mayor U Maung Maung Soe at a press conference held in City Hall last week. “This plan aims to promote more civil society organisations and encourage corporate social responsibility. But we won’t allow the vendors […]

Reset capital market, allow foreign competition to unleash growth: leaders

Foreign investor interest in Myanmar appears to be waning at a time when the global economy is losing momentum, if recent data is anything go by. As such, a hard reset of the local capital market is needed to ensure the business environment remains friendly to existing firms and entrepreneurs, as their survival and growth […]

Myanmar is new frontier for Japanese condo developer

YANGON — Japanese housing developer Tama Home will establish a condominium joint venture in Myanmar in a bid to attract rising ranks of higher-income buyers. Tama Home and local partner Kakehashi Real Estate Group will set up the new company, which will serve as the lead contractor on projects. Construction has started on a 541-sq.-meter […]

Regional investment commission approves first Kachin project

The Kachin State Investment Commission has approved one investment involving K1,688 million since its office was opened last July. The commission is currently examining two investment applications, U Tun Kyaw Kyaw, deputy director from at the Directorate of Investment and Company Administration (DICA), explained. The approved investment is in the agriculture sector and relates to […]

German ambassador lauds vocational training centre

The German ambassador spoke of the value of vocational training at the inauguration ceremony of the No. 1 Industrial Training Center (Sinde) held in Pyay on February 8. The project is co-funded by the German government and the Myanmar government. Mrs. Dorothee Jantzke-Wenzel, German Ambassador to Myanmar, had the following to say at the event: […]

Mandalay approves investments exceeding K1.4 billion

The Mandalay Region Investment Committee has approved over K1.4 billion in investments since the Myanmar Investment Law was approved in October 2016, U Thike Htoon, assistant director at the Directorate of Investment and Company Administration (DICA), said on Monday. The investments were approved for the first time after the Myanmar Investment Commission (MIC) established Region […]

Department of Civil Aviation: Invitation to Expression of Interest (EOI) for Muse Airfield. Closing Date : 15 Dec 2017

The Department of Civil Aviation, Ministry of Transport and Communications, invites the interested local companies with foreign firms forming the consortium to submit Expression of Interest (EOI) for the Muse Airfield which will be implemented by PPP scheme for the construction, financing and operations of the airport. The EOI document in the English language may […]

60 pc of investments in Thilawa SEZ target local market

There are 85 local and foreign investments in Thilawa Special Economic Zone Project, with most of them targetting the local market. Sixty per cent (51 businesses) of the total investments target the local market, 29 per cent (25 businesses) traget the export market, and nine per cent service the distribution sector, according to Thilawa SEZ […]

Myanmar’s FDI on target despite Rakhine situation

NAYPYITAW — In a bright, well-carpeted conference hall in Naypyitaw — Myanmar’s sprawling capital built by the former military government — more than 1,000 investors and business executives gathered earlier this week for the annual Euromoney Myanmar Global Investment Forum. The opening remarks on Sept. 12 by speakers including government officials and foreign and local […]