New insurance scheme to provide aid in obtaining loans

Co-operative Bank (CB) is preparing to launch a new Credit Guarantee Insurance (CGI) system so that it can extend wider financial assistance to the country’s small and medium enterprises (SMEs). CGI covers businesses against non-payment of debts owed to them by business customers for goods or services provided on credit terms. As part of that […]

Gas-fired plant in Mandalay to operate with BOT agreement

The biggest gas-fired power plant, with a capacity of 225 megawatts, will start operations in December this year in the Taungtha and Myingyan district in Mandalay Region, a senior official from the Ministry of Electricity and Energy (MOEE), told The Myanmar Times. The project, which is estimated to involve US$300 million (K410.18 billion) investment, is […]

Agriculture Sector to Get Loan to Boost Exports

​​ Myanmar’s agriculture sector will get a loan aimed at helping the country’s exports in order to reduce the trade deficit, according to the Deputy Minister of Planning and Finance, U Khin Maung Win, More loans aimed at other sectors were in the pipe-line, the minister added. Deputy minister U Maung Maung Win led a […]

Political transition heralds higher-quality products

Political change could be leading to lifestyle change, business sources say. They point to a new willingness to import higher-quality brands, on the grounds that the Myanmar people have voted to change the old ways for something different – something better. U Khin Maung Win, managing director of VSK International, said, “The country is changing, […]

Busy signal for handset market

Rapid growth in the number of domestic mobile users is creating opportunity for mobile handset makers to expand their sales. While the local handset market has traditionally been dominated by a handful of brands, several new entrants are pushing their products in the hope of growing market sharing in a rapidly expanding business. A June […]

Possible first wind farm locations announced

Yangon and Ayeyarwady regions, as well as Rakhine State, may be among the country’s first locations to receive windmill-generated electricity after power producers from China and Thailand announced their continued progress to develop wind farms, officials said. China’s Three Gorges Co and Gunkul Engineering Public Co of Thailand each signed a pair of agreements with […]

Yangon power plants in limbo

Work on power plants slated to generate some 300 megawatts of electricity in the Yangon area has halted awaiting government approval of a standard power purchasing agreement (PPA) for the industry, according to U Zeya Thura Mon, CEO of power plant developers Royal GK Pte Ltd. The construction stoppage comes as Myanmar projects a significant […]