Myanmar Capital Markets Essential for Private Sector: IFC

International Finance Corporation (IFC), a member of the World Bank Group, and the Securities and Exchange Commission of Myanmar (SECM) signed a memorandum of understanding (MoU) in March to strengthen corporate governance regulatory standards and practices in Myanmar. In its press statement, the IFC said that a better regulated market will bolster investor confidence and […]

IFC to Help Myanmar Develop a Secured-Transactions Framework

IFC, a member of the World Bank Group, is helping Myanmar’s government to develop a secured-transactions framework that will allow businesses, especially micro, small, and medium enterprises (MSMEs), to access finance by offering movable assets as collateral, IFC said in a statement on 5 November. This will unlock significant financing for MSMEs, for whom lack […]

Myanmar business environment improves after reforms East Asia and Pacific Makes Steady Progress to Improve Business Environment: Doing Business Report

Myanmar has improved its business regulatory environment over the past year through reforms on business registration and the enactment of a law that allows the establishment of a new credit bureau, finds the World Bank Group’s annual Doing Business report. The report finds that over two-thirds of East Asia and the Pacific region’s 25 economies […]

Myanmar transportation, infrastructure weakest in Southeast Asia: World Bank

Myanmar has the weakest transportation and infrastructure in Southeast Asia, according to a report by the World Bank Group. Myanmar ranked 137 among 160 countries in the transportation index in 2014, giving it the lowest position among Southeast Asian countries. Moreover, only 33 per cent of households in Myanmar have access to electricity, while 60 […]

Laos to share hydropower development expertise with Myanmar

VIENTIANE, Aug. 13 (Xinhua) — A hydro-electric-powered energy revolution has been afoot in South-East Asia over recent years with the movement of fresh and fast-flowing waters increasingly fueling the consumption of larger amounts of energy resources to spur socio-economic development, poverty reduction and improvements in both urban and rural areas. The region’s most diminutive nation […]

Myanmar can potentially grow at 8%: WB

India may not be the only growth story in the midst of a global economic slowdown. According to the World Bank, Myanmar’s economy has the potential to grow rapidly, up to around 8 per cent per year in real terms over the next 5 years. With the right policy choices, a growing economy can provide […]

Carriers soup up networks as new rivals come knocking

Myanmar’s wireless market is embarking on a new chapter, now that the bulk of the country’s population is connected. Norwegian telecom company Telenor runs this cellphone shop in Yangon. The Southeast Asian nation’s mobile penetration rate has shot up from 9% at the end of 2013 to an estimated 70% or so. Auctions for new […]

Upper Paunglaung hydropower project opened in Sittang River valley

Myanmar’s 140-MW Upper Paunglaung hydropower project officially opened this week in a ceremony that included officials from the country’s Minsitry of Electric Power and President U Thein Sein. Located in central Myanmar along the Paunglaung River, the $24 million plant will help meet the country’s demand for power, which is increasing about 15 percent per […]

Sembcorp lands $422m deal to develop power plant in Myanmar

Sembcorp Industries has landed its first deal in Myanmar – a contract to develop a gas-fired power plant. The US$300 million (S$422 million) project, which will be the nation’s largest privately developed gas-fired power plant, will sell electricity to the state-owned utility when completed by 2018. The plant, in central Myanmar near Mandalay, will deliver […]