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IFC report recommends alternatives to high-risk Myitsone

A government-sponsored study warned against restarting the highly controversial Myitsone dam and recommended alternatives to develop the country’s hydropower sector. The final version of the Strategic Environmental Assessment (SEA) of the hydropower sector, supported by the energy and environment ministries and authored by the International Finance Corporation, has been published. The SEA involved a range […]

Financial Services Key to Rapid Myanmar Growth

The rapid economic growth in Myanmar has the potential to create more new jobs in financial services than any other country in Southeast Asia (SEA), according to Red Dot, the Yangon-based cash acceptance network. “Financial services are central to all key sectors in Myanmar – agriculture and food, manufacturing construction, hotels and leisure, tourism, healthcare […]

Myanmar to trim Kyaukphyu cost but drops Annan’s strategic review suggestion

Nay Pyi Taw’s plan to reduce the cost of Kyaukpyu Special Economic Zone, including the proposed deep-sea port, will help cap its external debt load and avoid repeating Sri Lanka’s Hambantota’s precedent, according to London-headquartered research firm BMI Research. At the same time, a government committee has dropped any mentioning of commissioning a Strategic Environmental […]

Industry debates tax levels after easing gold trade

Speculation has been rife over the level of duties involved in the import and export of gold since the trade was liberalised last month, allowing gold to move freely in and out of the country via air, sea and border routes. Although the authorities have yet to make any announcements, industry insiders reckon a 15 […]

Locals Upset Over IFC Meeting Regarding Salween Hydropower Project

MANDALAY — Action for Shan State Rivers (ASSR) said on Monday that locals were saddened by the meeting of the International Finance Corporation (IFC) concerning the controversial hydropower projects on the Salween River in Shan State. “Despite disagreements, the IFC held a stakeholder discussion in Taunggyi on Monday, without representatives of impacted locals or local […]

IFC, Australia Back Nationwide Study on Myanmar’s Hydropower

AS MYANMAR needs more electricity to realise its development goals during the first civilian government’s term, two ministries have been holding a series of discussions until the third week of January to finalise the countrywide strategic environmental assessment (SEA) on hydropower potential by March. The series of discussions started with a stakeholder meeting in Myitkyina, […]

Myanmar’s Tanintharyi Region Invites Power Investments

PEOPLE’S thirst for electricity would create a lot of opportunities for investors to do business in Myanmar’s Tanintharyi region bordering Kanchanaburi Province. Kyaw Kyaw Win, a small-scale food manufacturer living in Dawei, the capital of the region, said locals were eager to welcome any bid to boost access to electricity by the authorities as long […]

Plans for new rubber plant discussed in Thaton Township

Ministry of Industry and Thaton Township officials discussed plans to build a new rubber manufacturing plant in the Mon State, according to a report Myawady Daily newspaper. The plan for the No. 21 Heavy Industry Tyre and Rubber Factory – including the need for agricultural land leases, new manufacturing methods to produce good quality rubber […]

Can Myanmar’s Hydropower Study Truly be For The People?

In recent weeks, violent clashes in Kayin State have further disrupted Myanmar’s fragile peace process. Fighting between the Democratic Karen Buddhist Army (DKBA) and the government-sponsored Border Guard Force (BGF) in Mae Tha Waw areas of Hlaingbwe township, and more recently near Kawkareik township, has displaced over a thousand people. Entire families have fled their homes and are […]

Myanmar’s first electronic bill payment solution launched

2C2P a leading Southeast Asian (SEA) payment services provider, and Myanmar Payment Union (MPU), the national payment network of the Republic of the Union of Myanmar, have launched Myanmar’s first electronic bill payment solution, easyBills according to a media release on 9 June. 2C2P and MPU are providing a non-cash payment option for prepaid phone […]