Myanmar banks offer international credit cards

In a boon for holiday shoppers, Myanmar banks are starting to offer customers international credit cards for the first time. The country has only recently returned to true credit cards, which disappeared in the wake of the 2003 banking crisis. At the start of this year some 2 million “credit cards” had been issued, but most operated […]

Economic forum predicts more foreign investment in 2015-16

The energy sector will help fuel foreign investment in Myanmar during the 2015-16 fiscal year. That was the main message to come out of the Myanmar Global Investment Forum held in Nay Pyi Taw 15-16 September attended by over 800 local business people and foreign experts. For the last three years, Myanmar’s political and business […]

MIC talks projects with senior monks

Government officials met with Shwedagon Pagoda’s Senior Sayardaw Committee last week to discuss several nearby construction projects, a member of Shwedagon Pagoda’s trustee committee U Win Kyai told The Myanmar Times. The chair of the Myanmar Investment Commission and Minister of Energy U Zay Yar Aung, the Minister of Religious Affairs U Soe Win and […]

State energy firms to professionalise

The Ministry of Energy is planning to pursue more joint ventures with foreign companies, as senior government officials have urged state-owned enterprises to professionalise or risk being reformed. The energy sector includes a prominent set of state-owned firms, but tentative steps to modernise through forming joint ventures with foreign firms have already begun. The fuel […]

Job creation falling short: U Serge Pun

Prominent businessperson U Serge Pun said Myanmar has a mixed scorecard on job creation, and is not seeing the employment growth it could achieve. While the government has clearly place employment on the agenda, the amount of jobs being added over the last two years had fallen short of the desired results, he said at […]

PetroleumBRUNEI won the bid for onshore block in Myanmar

BANDAR SERI BEGAWAN:Brunei National Petroleum Company Sdn Bhd (PetroleumBRUNEI) has officially been awarded an onshore block in Myanmar after having signed a contract with Myanmar Oil and Gas Enterprise Pte Ltd (IGE) yesterday, Brudirect reported. The signing of the Production Sharing Contract (PSC) was carried out at Myanmar’s Grand Amara HOTEL in Nay Pyi Taw […]

PTTEP earmarks $3.3 bn for Myanmar

Investment budget set till end-2018 as energy giant celebrates 25th year in neighbouring country PTT Exploration and Production (PTTEP) will invest a total of US$3.3 billion (Bt106.4 billion) in Myanmar through to the end of 2018, president and CEO Tevin Vongvanich said after celebrating the listed company’s 25th anniversary of successful operations in the neighbouring […]

PTTEP advances in Myanmar with MOGE award

PTTEP South Asia has signed a production sharing contract (PSC) with Myanma Oil and Gas Enterprise (MOGE) for onshore exploration and production rights of MOGE 3 block “This investment in Myanmar is a significant operational progress in line with PTTEP long term growth direction to explore the high potential areas,” said Tevin Vongvanich, president and […]