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Solar mini-grids to take off in Myanmar, support electrification ambitions

Solar mini-grids in Myanmar are expected to take off as the private sector sees solar energy as a potentially commercially viable solution in Myanmar’s journey towards full electrification. With a US$1.6 million mini-grid installed, more than a thousand households on the island of Yesagyo in Magway Region were connected to electricity for the first time […]

AIA formally launches operations in Myanmar

AIA formally launched its operations in Myanmar with an opening ceremony on January 18, marking its entry into what is considered the new frontier for insurance in Southeast Asia. The launch event was dubbed ‘UN in Yangon’ (Un is French for ‘one’), and featured performances from top singers in Myanmar, including Esther Dawt Ching Sung, […]

Foreign investment inflows to double: Myanmar govt

Approved foreign direct investment (FDI) into Myanmar is expected to grow this year, the Myanmar Investment Commission (MIC) says. Already, approved FDI into Myanmar in the first three months of fiscal year 2019-20 is double what it was in the same period in the previous fiscal year, the commission said. “Currently, FDI in the country […]

What Does Xi’s Myanmar Visit Mean for India’s China Anxieties?

Last week, Chinese President Xi Jinping concluded a two-day visit to Myanmar, the first for Xi in his current capacity and his first overseas visit of 2020. Viewed from the perspective of growing Chinese inroads in the Indian Ocean, Xi’s trip spotlighted Beijing’s continued efforts to make geopolitical gains in line with its broader regional […]

Confusion over taxes for Yangon jewellery fair

The amount of taxes on sales transactions during the recently concluded Third Yangon International Gems and Jewellery Fair have yet to be determined, officials said. Several days after the conclusion of the fair, the relevant authorities still have not agreed on the taxes for certain transactions,” Daw Myint Thet Naing, vice chair of the Yangon […]

How have Chinese companies helped ease Myanmar’s power shortage?

In any middle-to-high end hotel around the world, round-the-clock electricity is a must. But that’s not the case in Myanmar, where power blackouts are common. The Southeast Asian country has long faced a chronic power shortage. The country recently realized its goal of providing electricity to half of its population by the end of 2019, […]

SCB wants Myanmar licence

Siam Commercial Bank is seeking approval from the Central Bank of Myanmar (CBM) to upgrade SCB’s representative office to operate under a bank subsidiary licence in the neighbouring country. The subsidiary model would offer SCB greater opportunities to do banking business in Myanmar, said chief executive Arthid Nanthawitthaya. Among the three options that the CBM […]

Conflicts in Myanmar a challenge for businesses, says World Bank

Myanmar is expected to grow at a rate of 6.4 percent in fiscal 2019-20 from as a result of higher government spending and private investments but a rising occurrence of conflict and violence could hold investors back, according to the World Bank’s Myanmar Economic Monitor report, released Tuesday. The report noted that the presence of […]

Thousands of Myanmar workers rally for higher minimum wage

Thousands of workers in Yangon on Sunday took to the streets to demand an increase in the minimum wage to K9800 ($6.66) ahead of the review of the country’s new minimum wage law. Ko Thwin Aung, chair of Myan Mhu garment workers union, said the current minimum wage of 4800 is below the cost of […]

Myanmar migrant workers in 2019 exceed 300,000

Over 305,000 people went overseas for work during 2019 according to the data from the Ministry of Labour, Immigration and Population. Monthly numbers of workers going abroad from January to November 2019 are 23,235 in January, 22,523 in February, 22,534 in March, 20,766 in April, 30,326 in May, 26,787 in June, 30,826 in July, 33,805 […]