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GE Eyes Expansion in Myanmar Energy, Healthcare Sectors

GE, the high-tech energy, health and aviation equipment provider, has plans to expand its reach in the Myanmar energy and healthcare sectors. “Myanmar has huge potential in terms of revenue and orders for GE. Myanmar needs healthcare and a lot of electricity. There are good prospects in natural gas production and solar energy sector,” Mr […]

South Korean President Enhances Bilateral Economic Ties with Myanmar

YANGON- The president of South Korea pledged to accelerate Korea’s economic presence and to cooperate on development in Myanmar after meeting with the Myanmar State Counselor in Naypyitaw on Tuesday. The trip is a part of his “New Southern Policy” to deepen relations with Southeast Asian nations, including in the economic realm. Moon Jae-in arrived […]

Why Myanmar matters so much for India

President Ram Nath Kovind will be on a four-day state visit to Myanmar starting on December 10. This will be the fifth high-level visit between the two countries in the last four years. Prime Minister Narendra Modi’s visit last year was the third by an Indian prime minister in five years and his second in […]

Yangon Contractors Face Trouble

Due to the dollar rate appreciation, bad weather, and a sluggish market, contractors are facing difficulties and troubles. In order to address the issue, an event was held at The Sky Star Hotel on July 21. The event that was drafting the Apartment Law gave the opportunity for many to express their feelings. Feelings of […]

MPs object to president reappointing current Central Bank governor

President U Win Myint has proposed reappointing 79-year-old U Kyaw Kyaw Maung as governor of the Central Bank of Myanmar (CBM) after his current term is complete by the end of this month. Parliament representatives had been expecting the job of improving Myanmar’s financial system to be given to a much younger candidate. Some have […]

Fast-track delivery of Wärtsilä gas-fired power plant will help alleviate Myanmar’s electricity shortage in Kyaukse

The technology group Wärtsilä has been selected to provide the generating equipment for a new gas-fired power plant needed to alleviate the shortage of electricity in Myanmar. The power plant will operate on eight Wärtsilä 50SG gas-fueled engines, and the electricity generated will be fed into the national grid. The 145-MW plant is being built […]

Myanmar not ready yet for auto boom

THOUGH MYANMAR has the potential for a boom in its automotive industry, it may take more than five years to enjoy tangible benefits in reality, according to Soe Tun, president of Myanmar Automobile Manufacturers and Distributors Association and managing director of Farmer Auto Trading Co. “It is not the right time for newcomers to enter […]

New retail directive well-received, but raises unanswered questions

Myanmar has taken pains to liberalise its economy and draw foreign investors to become more competitive. Over the past two years, it has rolled out major new legislation including the Condominium Law, Investment Law and Companies Law. This year, it released two new directives opening up the education and retail sectors to full foreign ownership, […]

Myanmar region woos French FDI

Myanmar’s underdeveloped Tanintharyi region bordering Kanchanaburi province plans to attract European investment mainly from French companies in the months to come, according to Phyo Win Tun, planning and finance minister of the Tanintharyi region government. “At the regional government, we frequently receive business delegations from Europe, including France, Italy, Czech as well as from other […]

After winter gas crunch, China pumps for underground storage

CHONGQING, China (Reuters) – On one of the many mountains in southwest China’s sprawling region of Chongqing, a dozen wells in an exhausted gas field are this week starting to take in fresh fuel piped in from Central Asia’s Turkmenistan, thousands of miles away. For the next six months, state energy giant PetroChina, operator of […]