Why the World Bank Torched its ‘Ease of Doing Business’ Ranking

In August, the World Bank suspended its Doing Business Report due to what it referred to as a “number of irregularities.” According to Bloomberg, since 2003 the report has ranked 190 economies “based on how easy it is to do business there, taking into account trading regulations, property rights, contract enforcement, investment laws, the availability […]

Myanmar solar tender not all about cheap pricing

MADAM – I follow The Myanmar Times’ excellent and extensive coverage of the solar tender with enormous interest. Reporting by John Liu – via his latest scoop on the tender results – and other journalists at your paper captures the controversy surrounding what could have been the defining solar power initiative in Myanmar. Alas, the […]

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 […]

Protests and demonstrations a key concern for extractive companies

Protests and demonstrations pose a serious security threat to the oil and gas industry as well as mining sector in Myanmar, a recent poll among industry players showed. Yangon-based Myanmar Centre for Responsible Business (MCRB) organised workshops aiming to raise awareness of the relevance of Voluntary Principles on Security and Human Rights (VPSHR) for Myanmar’s […]

Improvements still needed to boost property, construction sectors

Stakeholders in the property and construction sector say there is still a need for a body or organisation to oversee, implement and enforce the regulations under Condominium Law 2016 and Condominium Rules 2017. The lack makes the legislation less effective presently those in the business say. As there are very few condo projects in Yangon […]

Myanmar state counselor calls for efforts for regaining top rice exporting country status

YANGON, March 7 (Xinhua) — Myanmar State Counselor Aung San Suu Kyi has called on farmers and stakeholders in the country to strive for regaining the past status of top rice exporting country by turning to new agricultural methods such as organic farming, Myanmar News Agency reported Wednesday. Aung San Suu Kyi made the call […]

Bid to boost corporate transparency in Myanmar accelerates

An annual study on business transparency of Myanmar companies would be widened next year to encourage inclusiveness and accountability in a larger context, according to Myanmar Centre for Responsible Business, a Yangon-based initiative funded by six European nations. MCRB director Vicky Bowman said that the assessment of companies’ websites would be doubled to 200 firms […]

Sampath Bank funds mega hotel development project in Myanmar

Sampath Bank PLC, a pioneer in introducing revolutionary financial solutions with a strong footing in the Sri Lankan market, announced that it had successfully concluded a loan transaction with Yangon based hotel developer Family Business Group Hotel Limited (FBGHL), Myanmar. This loan marks yet another giant stride in the steady rise of the Bank’s off-shore […]

Fuel Importers Submit Proposal for Deep-Sea Port in Yangon

Representatives of the oil and gas in­dustry have sub­mitted a business propos­al to the government to a build a deep-sea port near Yangon. “We are studying the potential logistics and feasibility of a deep-sea port project 20 miles from Yangon to reduce transportation costs for maritime trade and fuel imports,” Dr Win Myint, Secretary of […]

Nationwide survey launched to draft business environment index

The San Francisco-headquartered Asia Foundation (TAF) and the UK-funded DaNa Facility have launched a three-year nationwide program to improve sub-national business environment. The program is funded by the UK Department for International Development (DFID) and implemented by DAI Europe, a London-based international development company. DFID provided £25 million (K43.9 billion) to fund DaNa, which supports […]