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Car makers up local production despite challenges

Car makers in Myanmar have been increasing production of locally assembled automobiles in response to higher demand. Suzuki Myanmar Motor Co Ltd this year produced 15,000 vehicles compared to 12,000 in 2018, representing a 25 percent increase in year-on-year production, the company said. “We are more producing more brand new motors based on our factory […]

Industry body aims to boost local steel production

To reduce Myanmar’s dependence on imported steel, plans are being made to increase local production with Chinese technology say industry officials. “Local steel consumption relies heavily on imports rather than local production as only 10 percent of what the local market needs is produced locally while the 90 percent is imported,” said U Tin Myint, […]

Government allows six JVs among local and foreign insurers

The Ministry of Finance and Planning (MOFP) announced the successful applicants for life and non-life insurers to be operated under joint ventures between locals and foreigners on July 31. For non-life insurance, the MOFP has allowed AYA Myanmar General Insurance Company and Sompo Japan Nipponkoa Insurance, Grand Guardian General Insurance Company and Tokio Marine, Nichido […]

Local insurance providers see growth potential in industry

The government is expecting a total of 29 foreign and local life and non-life insurance companies to operate in Myanmar. So far, four foreign life insurance companies have applied to form joint ventures with local partners while five non-life foreign insurance companies may also form similar partnerships, Daw Sandar Oo, the Chair of Myanmar Insurance […]

Local plastic makers face rising competition from imports

Plastic makers in Mandalay are facing tough competition from imported products, local businesses told the Myanmar Times. Foreign plastic products are much cheaper than locally made products because local producers are unable to scale production and instead face rising costs from having to import raw material and logistics. “For production cost, we are trying to […]

Local coffee growers marginally hit by falling prices

A drop in global coffee prices has affected Myanmar’s coffee growers, says U Min Hlaing, secretary of Myanmar Coffee Association. Depending on the type of coffee, the price has dropped to around US$ 500 a tonne, he said. “The weather in Brazil, a major grower of coffee, was good last year so the country had […]

Hyundai joins fray in Myanmar’s crowded auto market

Myanmar’s restrictions on imported vehicles are pressing foreign automakers to switch to local production, adding pressure to a crowded field in Southeast Asia’s last promising growth market. Last week, South Korea’s Hyundai Motor marked the opening of a new contract manufacturing facility in Myanmar by launching its first locally made cars. That makes it one […]

Local fuel prices increase by over 19% in four months

Local fuel prices have increased by over 19 percent over the past four months due to dollar appreciation, according to filling stations. On Monday in local market, maximum prices fixed by Myanmar Oil Importers and Distributors Association were Ks1,075 for one liter of diesel (K4,887 per gallon), K1,085 for one liter of premium diesel (Ks4,932 […]

Expression of Interest, Upgrading and Renovation of Yangon City Golf Course on BOT Basis. Submission Date: 28 Sep 2018.

1. The Yangon Region Government, Tender Committee invites the local and foreign companies to submit the Expression of Interest for Upgrading and Renovation of Yangon City Golf Course owned by Yangon City Development Committee on Build, Operate and Transfer (BOT) basis. Location of City Golf Course – Yangon Region, Insein Township, Ywama East Ward, 10 […]

Request for expressions of interest for Strategic Consulting & Master Planning Services. New Yangon Development Company Limited, Submission Date: 26 June 2018.

(COI No. ISC/ 2017-2018), invites eligible local and/or international consultants to indicate their interest in providing following consultancy- 1.Master Plan and Strategic Plan 2.Traffic and Transport Study 3.Strategic Environmental Assessment 4.Quantity Surveying (QS) Service for the New Yangon City Development Project. Consultants passing the pre-qualification will be invited to prepare the proposals. For further information, […]