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New insolvency legislation passed

Pyidaungsu Hluttaw on February 14 passed a new Insolvency Law to further strengthen the business environment and draw more foreign investors to the country. The new legislation will become effective after a notification is issued by the President of Myanmar. The new law replaces the Yangon Insolvency Act (1909) and the Myanmar Insolvency Act (1920). […]

Conflicts in Myanmar a challenge for businesses, says World Bank

Myanmar is expected to grow at a rate of 6.4 percent in fiscal 2019-20 from as a result of higher government spending and private investments but a rising occurrence of conflict and violence could hold investors back, according to the World Bank’s Myanmar Economic Monitor report, released Tuesday. The report noted that the presence of […]

Ayala and Yoma team up to close Myanmar’s infrastructure gap

Conglomerates’ power and water plans promise to help offset limited public funds A girl collects drinking water outside Yangon: Myanmar’s economic development hinges on the construction of more modern infrastructure. © Reuters YANGON — If there is one thing Myanmar needs, it is infrastructure. Now, Yoma Group, one of the country’s biggest conglomerates, is looking […]

Solar could lower power costs for local business, IFC study reveals

Distributed solar solutions can help businesses in Myanmar bring down their power costs and climate impacts, a study by the International Finance Corporation (IFC) reveals. The study estimates that there are more than 700 megawatts worth of potential commercial and industrial solar projects in Myanmar, which is equivalent to around 10 percent of the country’s […]

The world bank’s latest report on Myanmar: 5 takeaways on growth and risks

The World Bank’s latest forecast predicts that Myanmar will see positive growth, risks and challenges in the short- to mid-term future. The forecast highlights the country’s growing GDP and reductions to poverty as well as increasing inflation and fiscal deficits. The World Bank’s “Weathering Growing Risks” report for East Asia and the Pacific, released on […]

Myanmar Among World Bank’s Top 20 for Business Ease Improvements

YANGON – As the Myanmar government makes efforts to complete its ambitious goal to reach the top 100 of the World Bank’s ease-of-doing-business index 2020, the country was listed among the top 20 most-improved countries. A World Bank report listed Myanmar in the top-20 improvers in Doing Business 2020, alongside China, Bangladesh and India. It […]

Invitation for Bids – ACSR Conductor for National Electrification Project, Deadline: 1st November, 2019

THE GOVERNMENT OF THE REPUBLIC OF THE UNION OF MYANMAR NATIONAL ELECTRIFICATION PROJECT SPECIFIC PROCUREMENT NOTICE INVITATION FOR BIDS IDA Credit No.:_5727-MM Date: 17th September, 2019 Contract Title: ACSR Conductor for National Electrification Project Reference No. : MOEE-NEP-P2/C1-G4/19 The Ministry of Electricity and Energy has received financing from the World Bank towards the cost of […]

Invitation for Bids – Concrete Poles for National Electrification Project, Deadline: 30th October, 2019

THE GOVERNMENT OF THE REPUBLIC OF THE UNION OF MYANMAR NATIONAL ELECTRIFICATION PROJECT INVITATION FOR BIDS SPECIFIC PROCUREMENT NOTICE IDA Credit No.:_5727-MM Date: 16th September 2019 Contract Title: Concrete Poles for National Electrification Project Reference No. ICB: MOEE-NEP-P2/C1-G8/19 The Ministry of Electricity and Energy has received financing from the World Bank towards the cost of […]

NZMCC – Meeting of the Minds Forum, 26 Sep 2019

We are delighted to announce our next event on Thursday 26 September, ‘Meeting of the Minds’ – Experts discuss Myanmar’s Economic Performance and Outlook. What are the pressing issues in the villages and towns, in the international investment community, for commercial people on the ground? This event will be a panel discussion with experts deeply familiar […]

Myanmar appoints ex-world bank economist deputy minister

The Myanmar President’s Office on Thursday appointed former World Bank economist and poverty specialist Dr. Min Ye Paing Hein as deputy industry minister. Among his responsibilities will be promoting private investment in state-owned enterprises to make them commercially viable. Aged 41, the holder of a PhD from a US university will be the youngest minister […]