Fishery Workers to Be Sent to Korea

The Ministry of Labour, Immigration and Population considers sending fishery workers to South Korea. The discussions between the ministry and foreign employment agencies started since February and the basic salary will be around US$1,000 per month, according to the ministry. Application forms for the EPS-TOPIK exam had been sold from March 20 to 24 for […]

Rangoon Taxis Need Reform

Rangoon has around 70,000 taxis plying the city’s streets, many owned and run by individuals. There are two local pioneering app-based cab service providers—Hello Cabs and Oway Ride—cultivating a culture in which apps are used to hail taxis in the city since 2016. The two are now set to compete with foreign brands: Singapore-based firm […]

Microfinance Institution MFIL Secures $1m Loan From Malaysia’s Maybank

Myanmar Fi­nance Interna­tional (MFIL), the mircrofinance joint venture of investment company Myanmar In­vestments International (MIL), has secured a $1 million loan off Malaysian lender Maybank. The funds will see MFIL try to grow its outreach from 42,000 customers and expand its loan port­folio, which stood at $5.7 million as of February, said a company press […]

Fuel Storage Terminal with US$92m FDI to Start Operation at Thilawa Port

The first and largest fuel storage terminal in Myanmar, which has involved US$92 million of investment, opened during the first week of May, said officials from Puma Energy Asia Sun (PEAS). The storage terminal will begin operation at Thilawa port in Yangon, and is a joint-venture between Puma Energy and Asia Sun Energy. Puma Energy, […]

Myanmar, France Chambers of Commerce Sign Pact for Stronger Economic Ties

Yangon Though investment by French firms in Myanmar has accounted for less than 1 per cent of the total forฌeign direct investment, the figures are likely to surge over the next few years as the Union of Myanmar Federation of Chamber of Commerce and Industry on Friday signed a memorandum of understanding (MOU) with CCI […]

How microfinance can help Myanmar meet its major funding needs

Myanmar’s economy has logged one of the fastest growth rates in the world since it opened up in 2011, but its development of channels for financing such growth has not kept pace. The stock market, which began trading in March 2016, has just four listings, and overall market capitalization is equivalent to less than 1% […]

International hotel chains open their doors in Myanmar

Since opening up the country, more tourists come and discover Myanmar and it is expected to grow even more. Therefore, more and more investors are seeing chances to begin their business here. That is why a lot of new hotels will open their doors as well in 2017. Since the new government, led by National […]

Japan’s IHI inaugurates heavy concrete factory joint venture in Myanmar

IHI Corp. held an opening ceremony Sunday for its heavy concrete factory in Myanmar, becoming the first Japanese plant producing pre-stressed concrete products in Southeast Asia’s newest emerging market. The Tokyo-based heavy industry company, in partnership with Myanmar’s Construction Ministry, opened the $12.2 million facility in the Myaungdagar Steel Industrial Zone in Hmawbi, located about […]

Myanmar sees gains in rice, corn production

Rice and corn production in Myanmar is expected to increase in the 2016-17 marketing year, while production of wheat is forecast to fall, according to an April 20 report from the Foreign Agricultural Service (FAS) of the U.S. Department of Agriculture (USDA). Rice production in 2016-17 is forecast at 12.2 million tonnes, up from 12.16 […]

Myanmar’s First Private Bank to modernise banking operations with Misys

First Private Bank (FPB) has chosen Misys FusionBanking to streamline operations and digitalise as it takes a significant role in contributing to Myanmar’s growing economy. The bank, which received the first banking licence in Myanmar in 1992, aims to facilitate access to financial services for all and will transform its retail, corporate and digital offering […]