SCB unveils wholly-owned subsidiary in Myanmar

Siam Commercial Bank (SCB) Myanmar has been officially inaugurated, the only Thai bank allowed to operate a wholly-owned subsidiary in Myanmar. SCB entered Myanmar in 2012 by setting up a representative office. SCB Myanmar plans to leverage its digital banking expertise to elevate financial products, services and payment systems in Myanmar to fulfill business requirements […]

Myanmar, China to conduct feasibility study on Mandalay-Kyaukphyu railway

Myanmar and China on January 11 signed a memorandum of understanding to conduct a feasibility study of a railway linking Kyaukphyu in Rakhine State with Mandalay and Muse. The China Railway Eryuan Engineering Group Co Ltd had presented the feasibility study report for the Muse-Mandalay section of the railway during Chinese President Mr. Xi Jinping’s […]

Myanmar sees trade deficit of over $230m in three months

There has been a trade deficit of over US$230 million over the past three months in the current fiscal year exceeding over US$14 million compared to the same period of the previous year, according to the Ministry of Commerce. From October 1 to January 1 in the 2020-2021 financial year, Myanmar exported goods worth US$3.685 […]

Sri Lanka to launch direct flights to Myanmar to boost tourism this year

COLOMBO, Jan. 15 (Xinhua) — Sri Lanka will establish air links with Myanmar this year to boost tourism, including travels for medical and religious purposes, its Foreign Ministry said in a statement here Friday. The announcement on air connectivity between the two countries was made after a meeting was held among Sri Lanka’s Foreign Secretary […]

Myanmar Says Thai Firm at Dawei SEZ Breached Contract

YANGON — The Dawei Special Economic Zone (SEZ) Management Committee says it lost confidence in the consortium led by a Thai construction company due to breaches of contract at the mega project in southern Myanmar’s Tanintharyi Region. Last week, Italian-Thai Development Public Co. Ltd. (ITD) announced that it received a notification of termination of its […]

China Inks Economic Agreements With Myanmar, Promising COVID-19 Vaccine Donation

YANGON—Myanmar and China signed agreements on the economy, trade and technical cooperation during the Chinese foreign minister’s trip to Myanmar’s capital, Naypyitaw, including a promise from Beijing to provide 300,000 doses of COVID-19 vaccine to its southern neighbor. Wang Yi launched his first Southeast Asian tour of 2021 on Monday with an official visit to […]

Myanmar to launch digital land database

Myanmar will launch an online land database soon, said Minister of Investment and Foreign Economic Relations U Thaung Tun. The online land database will be introduced to provide transparency regarding land ownership, said the minister during a webinar on a ‘New Way of Working with Government’ organized by Myanmar’s British Chamber of Commerce. Online investment […]

China, Myanmar sign MoU on feasibility study of Mandalay-Kyaukphyu railway

China and Myanmar signed a memorandum of understanding (MoU) on Sunday to conduct feasibility study of a railway linking Mandalay, the country’s second largest city in Myanmar’s central region, with Kyaukphyu, the major town in Myanmar’s Rakhine state, according to a release from the Chinese embassy in Myanmar. Speaking at the signing ceremony, Chinese Ambassador […]

Dubai’s Blu Stone JV completes strategic Myanmar asset sale

Dubai-based Blu Stone Management and its joint venture partner M1 Group, a holding company that owns and manages investments across various sectors, have reached an agreement to sell its entity Irrawaddy Towers Asset Holding to CVC Capital Partners Asia V (CVC). Irrawaddy Towers owns a leading independent telecommunications tower company in Myanmar, Irrawaddy Green Towers […]

Myanmar to further restructure, invest in education system

The Myanmar government wants to restructure and raise investments in the existing education system over the next five years so that it remains compatible with modern-day requirements, State Counsellor Daw Aung San Suu Kyi said in her New Year speech. As education plays a very crucial role in the development of our nation, a long-term […]