Starbucks to Open First Myanmar Location

Starbucks will open its first coffee shop in Myanmar at the Sule Square Mall in downtown Yangon. The Myanmar Investment Commission (MIC) officially endorsed the service provider Coffee Concepts Myanmar Limited (CCM) to be the sole operator for catering and sales of Starbucks food and beverages; sales of Starbucks brand products, and the operation of […]

Infrastructure, safety standards needed for LPG industry to take off

The government is now more than half way through its term and time is running out for it to make good on its promise to double Myanmar’s supply of electricity within the next two years. But the government is not without backup plans to help it achieve its goals, one of which is replacing the […]

Myanmar needs ‘more transparency, strategies’

MYANMAR’S hopes of becoming Asia’s last frontier market would be realised only if the government could create a clear and transparent regulatory environment for attracting investment and financing the economy, according to Patrick Cooke, regional editor for Asia at Oxford Business Group (OBG), a global research and consultancy firm. “It is imperative that the government […]

Disappointment at government hasn’t eroded support among businesses: academic

The disappointment at the current government’s sluggish economic reforms has not eroded the support among businesses, according to a Mandalay and Bangkok-based academic. On the contrary, businesses are worried that a failure of the administration will roll the country back to the junta era. The Myanmar Times talked to Pietro Borsano, lecturer at Mandalay International […]

Telenor gears up to offer a Myanmar record for data speeds

AS MOBILE data consumption in Myanmar soars to some of the highest levels in the world, Telenor Myanmar plans to offer its subscribers a record speed for the country of 1 gigabyte per second (Gbps) in the near future, said Lars Erik Tellmann, the firm’s chief executive officer. Tellmann said at a press briefing on […]

Investor sentiment buoyant in ASEAN; PH leads in GDP growth forecast

Despite concerns on the domestic tax environment in the Philippines, the country still ranks highest in terms of high GDP growth projection in ASEAN, which growth is partly driven by government spending, according to a survey. The Oxford Business Group launched its edition of the Business Barometer: OBG in ASEAN CEO Survey, which pointed to […]

Myanmar permits full foreign capital investments in education sector

The Myanmar Investment Commission (MIC) has permitted foreigners to make full capital investments in private schools in Myanmar, according to Notification 7/2018 issued by the MIC on April 20. This means foreigners will now be able to fully own and operate private schools teaching a curriculum prescribed by the Ministry of Education (MOE) or an […]

Telenor’s Cost-Cutting Focus Rattles Investors

Telenor’s first-quarter numbers should have been a treat for any investor. Up 20% year-on-year, to 4.99 billion Norwegian kroner ($630 million), first-quarter net profit easily beat analyst expectations of NOK3.53 billion ($450 million). Dividend payments to shareholders could total NOK18.6 billion ($2.35 billion) this year, up from just NOK11.3 billion ($1.43 billion) in 2016. “It’s […]

Myanmar cooks up LPG expansion plan

A PUSH to get more households to cook with liquefied petroleum gas (LPG) forms a key plank of a plan by the Myanmar government to ramp up the use of the fuel and devote more of the country’s electricity supply to targeted sectors. Zaw Aung, director general of the Oil and Gas Planning Department, said […]

PTTEP confirms its commitment to Myanmar oil and gas

PTTEP reaffirmed its commitment to the development and growth of Myanmar’s oil and gas industry at the Offshore Technology Conference Asia 2018 this week. Despite the exploration and development challenges in Myanmar’s oil and gas sector, opportunities for successful discovery and production can be captured with the effective use of innovation and people, said Mr. […]