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Government plans to merge state-run banks to facilitate more lending

A senior official has announced that four government-owned banks that have similar business scopes will be merged in order to help provide more loans for micro, small and medium enterprises (MSME), and farmers. Union Minister of Planning, Finance and Industry U Soe Win revealed this during a workshop on financial support MSMEs in Nay Pyi […]

Master plan for MSMEs to be released in February

The government plans to release its master plan Micro, Small and Medium Enterprise (MSME) in February 2020, said U Min Ye Paing Hein, deputy minister for the Ministry of Planning, Finance and Industry. MSMEs form more than 99 percent of the economy and the sector’s development cannot be ignored as it is crucial to the […]

Plans to develop new coastal tourism area in Yangon Region

The Yangon Region government has announced that it is planning to upgrade the Sel Ein Tan coastal area near Letkhokkon Beach in Kungyangon township to become a tourist destination, the region’s tourism officials say. “Some Yangonites are already going to Sel Ein Tan to escape city life and to to eat sea food. While infrastructure […]

Yangon govt plans to build about 10,000 apartments each for squatters in six townships

Yangon Region government is planning to implement housing projects for squatters with about 10,000 apartments each in four Dagon townships and Hlinethaya and Shwepyitha townships, said Chief Minister Phyo Min Thein at a seminar on Slums and Informal Settlements in Yangon “The Way Forward” held at Summit Parkview Hotel in Yangon on August 5. “We […]

Strong potential for insurance growth, but competition expected to be rife: IKBZ

The insurance industry has come under the spotlight recently with the government announcing in April that five foreign insurers would be allowed to operate wholly-owned units for life insurance in the country. Shortly after, it liberalised further by allowing six joint ventures between local and foreign insurers in both the life and non-life/general segments of […]

China’s Extending Reach in Myanmar

Dissonance in the Hinterlands as China Moves In Myanmar’s dependence on China is easy to see. Brightly colored Chinese company signs and billboards are prominent, Chinese-looking businessmen stroll along the streets of Yangon, Myanmar’s largest city, and Chinese tourists seem to be everywhere. While I was visiting, a Chinese crew happened to be filming in […]

Mandalay to offer affordable housing again next year

The Mandalay City Development Committee plans to sell affordable housing again next year, MCDC member U Kyaw San Myint said. The agency plans to sell more than 540 units this month, but applications have far exceeded the number of units for sale, he said. However, people don’t need to worry if they are unable to […]

Local government warns tardy cement plant projects in Myanmar

Myanmar: U Aung Kyaw Thu, the Hluttaw representative of Mon State Parliament and chairperson of the public budget scrutiny, finance planning and economics matters review committee has warned that cement plant projects granted licenses by the Myanmar Investment Commission (MIC) that have not implemented their plans will not be granted permission to extend their licenses. […]

Maha Bawga reveals plans to list on local bourse in future

Maha Bawga Finance Co is in the process of changing its statuswith a series of preparations within the company, Daw Pan Pa Pa, financial controller to the company, told The Myanmar Times. Maha Bawga is a non-bank financial institution licensed by the Central Bank of Myanmar (CBM). The company is changing its status as it […]

Myanmar opts for domestic power generation

Plans are underway to generate electricity from local power plants even though China, Thailand, Laos and India have offered to sell their electricity to Myanmar, a senior official of the Ministry of Electricity and Energy (MOEE) said. Details on arrangements to buy electricity from other countries have yet to be made available, and is not […]