Free from sanctions, state-owned MFTB upgrades services

One of three state-owned financial institutions recently taken off the US sanctions list says it has made a concerted effort to upgrade its services since the current government took power in April, under instruction from the Ministry of Planning and Finance. Myanma Foreign Trade Bank, established in 1976, held a monopoly on the foreign exchange […]

US eases Myanmar sanction to aid business

Photo Credit: File Photo from Nov. 14, 2014  meeting between Obama and Aung San Suu Kyi in Yangon (Nyein Chan Naing / European Press Photo Agency) The US government has removed 3 government banks and 7 government agencies responsible for promoting investment and export in various sectors of this resource rich country off the sanction […]

15 companies short-listed for Yangon Central Railway Station development tender announced

Myanma Railways has shortlisted 15 firms and joint ventures, including a number of well-known local companies, that responded to an EOI to redevelop Yangon Central Railway Station and the surrounding area in downtown Yangon. This is the railway ministry’s second attempt to tender the project, after an initial tender called in 2014 was cancelled last […]

Surging kyat closes foreign exchange desks

  Local banks suspended foreign currency exchange services yesterday as the kyat surged in value against the dollar, with financial industry sources variously pointing the finger at political speculation, market rumours and a lack of clear Central Bank policy. The kyat strengthened to K1248 against the dollar yesterday, according to the Central Bank’s rate, after […]

Government restricts forex to banks

Exporters and importers must use banks for foreign currency transactions, according to new government regulations. The new rules would be another step toward a functioning interbank currency market, but bankers are doubtful they can be immediately enforced. The government amended its 2012 Foreign Exchange Management Law last week to prevent exporters from selling foreign currency. […]

Indian bank finances Myanmar irrigation projects

The Export and Import Bank of India has given a US$198.96 million [K198.96 billion] line of credit to the Myanma Foreign Trade Bank for financing several irrigation projects, according to the Reserve Bank of India on March 23. The EXIM Bank’s credit will finance 18 irrigation projects in Myanmar. Out of the total credit by […]

Myanma Petrochemical Enterprise to invite open tender for Petroleum Coke; Closing Date: October 31st, 2014

The Government of the Republic of the Union of Myanmar Ministry of Energy Myanma Petrochemical Enterprise Auction for Petroleum Coke Tender No.(1) The Myanma Petrochemical Enterprise (MPE), the Ministry of Energy, hereby announces a tender for auctioning the 3,000 (±5%) metric tons of petroleum coke (FOR EXPORT ONLY) in foreign currency. 1. The documentation related […]

Yangon City Development Committee. Property Development. Invitation for Tender. Closing Date: 31st March, 2014

Subscribe to our Tender Alert. We send out email alert on Tender and EOI as it happens. Yangon City Development Committee Invitation for Tender 1. Yangon City Development Committee hereby invites Tenders from interested local companies, foreign companies, local companies and foreign companies in joint ventures for the implementation of the Housing Projects, Affordable Housing […]