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Myanmar Investments To Sell Myanmar Finance To Thitikorn

(Alliance News) – Myanmar Investments International Ltd on Wednesday said it has accepted an offer to sell Myanmar Finance International Ltd to consumer finance company Thitikorn for an undisclosed sum. Myanmar Investments owns a 37.5% stake in Myanmar Finance International. The Myanmar-focused investor said it has – in conjunction with the other stakeholders of Myanmar […]

Four factories to start producing masks in Myanmar

Four factories in Yangon and Bago regions will begin producing face masks after the Thingyan holidays amid soaring local demand for masks due to the outbreak of coronavirus, officials say. At present there are no factories primarily focused on producing the masks in Myanmar, so to two factories in Yangon Region and two in Bago […]

Myanmar garments factories closed down after major orders from EU market canceled

More garment factories in Myanmar stopped operations as European Union countries, a major export market, cancelled orders last week amid the spread of the COVID-19 pandemic. The EU market accounts for 70 percent of the country’s garment export.The bad news of cancellations came shortly after the supply of raw materials from China started to flow […]

Yangon urges people to stay at home during Thingyan holiday

The Yangon government on Friday urged people to stay at home during the 10-day Thingyan Festival holiday, except those who are involved in COVID-19 prevention, control and treatment activities. The Yangon regional government committee on COVID-19 instructed officials of the 45 townships in the region to tell their constituents not to go outside from April […]

Myanmar testing capacity for COVID-19 doubles to 600 people daily

Testing capacity for the coronavirus at the Myanmar National Health Laboratory (NHL) has doubled starting April 5, according to the health minstry. Testing capacity will be doubled to 600 per day starting from today, said U Thar Tun Kyaw, the ministry’s spokesperson. However, “technologies for immediate results are not available yet. Each test can take […]

Over 60% of European-Run Firms in Myanmar Hurt by COVID-19: EuroCham Survey

YANGON—Amid an overall economic slowdown in Myanmar, the EU Chamber of Commerce’s latest survey revealed that more than 60 percent of its member companies in the country have already been either significantly or moderately affected by the COVID-19 global pandemic. It forecast revenue losses of 30 percent to above 50 percent, with small and medium-sized […]

Baby brand Kyarlay gets $750K investment boost

Yangon-based baby products start-up Kyarlay this week raised US$750,000 from two growth funds looking to expand their investment in Myanmar. Kyarlay, an e-commerce and delivery provider specialising in baby products, sold equity stakes to Emerging Markets Entrepreneurs and United Managers Japan Inc. It did not disclose the amount of the shareholdings. Kyarlay was founded last […]

In Myanmar, the ‘cure’ for COVID could be deadlier than the disease

A walk through Yangon’s Chinatown on the weekend offered little sense of an impending crisis. Fruit vendors lined the street, taxis revved and honked, young couples walked hand-in-hand, and the outlines of distant high-rises were smudged by air pollution. The changes were scattered and easily missed. Latha Township’s popular Cherry Mann kebab shop only offered […]

Invitation to open tender – Myanma Railways Wheel Steel ; Deadline : 29th April 2020

MINISTRY OF TRANSPORT AND COMMUNICATIONS MYANMA RAILWAYS INVITATION TO OPEN TENDER Sr No Tender No Description 1. 12(T)32/MR(ML/RBE Euro/19-20 Wheel Steel Forged for RBE(240) Nos  Closing Date & Time- 29.4.2020 (Wednesday) (l4:30) Hrs 2. Tender documents are avilable at our office starting from 30.3.2020 during office hours and for further detail please contact: Deputy General […]

Law against hoarding or price gouging of essential medical supplies & consumer goods during the COVID19 pandemics

Republic of the Union of Myanmar Ministry of Commerce Notification 21/2020 Republic of the Union of Myanmar Ministry of Commerce Notification 21/2020 7th Waxing of Tagu, 1381 ME (30 March 2020) This notification is issued in exercise of the power set out in the Notification No 26/2020 of the Union Government dated 30 March 2020. […]