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Real Estate Sector to Pick up on Back of Foreign Demand

Demand in the Myanmar real estate market is expected to pick up in 2018 now that the rules to the new Condominium Law have been released. Under the new rules, property investments by foreigners are expected to spike, said U Aung Naing Oo, secretary of the Myanmar Investment Commission. The rules, which were released in […]

IFC Approves Support for Controversial Tycoon’s Mandalay Cement Project

The World Bank’s private sector lending arm the International Finance Corporation (IFC) has given the go ahead to support a multi-million dollar plan to expand a cement factory in Mandalay Region, operated by the Shwe Taung Conglomerate. The firm’s chairman, Aik Htun, had been alleged by US authorities to have had ties to the drug […]

World Bank Arm Defends Mandalay Cement Factory Project Amid Civil Society Opposition

Following an open letter sent to the World Bank’s President Jim Kim by a coalition of community-based organizations opposing a proposed plan to support the expansion of a cement plant in Mandalay Region and the coal mine that fuels it, the International Finance Corporation (IFC) maintains that the project is worthwhile. The open letter was […]

Transparency, Ongoing Disclosure Crucial for Stakeholder and Investor Confidence

Transparency and disclosure practices are crucial for businesses seeking to build trust with stakeholders, attract investors and ensure accurate media reporting, experts in a corporate governance forum have said. The International Finance Corporation (IFC), a member of the World Bank Group, and the Securities and Exchange Commission of Myanmar (SECM) organised a forum at the Yangon […]

IFC launches its sustainability guidelines in Myanmar language

The International Finance Corporation, a privatesector arm of the World Bank Group, last week released a Burmeselanguage verฌsion of its Performance Standards on Environmental and Social Sustainability. The publication is a set of eight internationally recognised norms that guide companies and governฌments on identifying and managing environmental and social risks to achieve sustainability. Bernard Sheahan, […]

IFC Clarifies Bagan Loan to in-Limbo Hotel, While Govt Says Status Remains Up in The Air

The International Finance Corporation’s funding of a local hotel developer whose Bagan tourism project remains in limbo is dependent on government approval, the IFC clarified yesterday. On October 22 the IFC announced a loan of US13.5 million to United International Group, which owns Amata Hotel Group, to expand on its hotel developments at Bagan and Inle lake. […]

Hydropower working group launched in Myanmar

The International Finance Corporation and more than 100 members of Myanmar’s private hydroelectric power sector have launched a new working group to help “influence policy and identify solutions to improve upon sustainability and business operations in Myanmar.” The organization, called the Hydropower Developers’ Working Group, represents more than 100 stakeholders in the country’s hydro sector, […]

IFC Pledges US$10 Million to Agri-Business Myanma Awba

  RANGOON — The International Finance Corporation (IFC) on Tuesday pledged US$10 million to local agri-business Myanma Awba, according to the IFC website. The additional funds are intended to jump start Myanma Awba’s $25 million project aimed at setting up a new agro-chemicals formulation plant, as well as enhancing packaging and warehouse capacity, seed production, […]