Quarterly Business Magazine

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Without Access to Direct Loans from Foreign Banks, Local Entrepreneurs Worry about Interest Rates

Yangon - According to local entrepreneurs, local businesses in need of capitals will not be able to obtain low-interest loans from foreign banks since the latters are forbidden from lending directly to local businesses. Instead, they have to rely on local banks, which in turn borrow from their...

Local Banks Raise the Level of Competition with Interest Rate Hikes

Business owners have been quoted as saying interest rates are being raised to woo new customers. Some banks have raised the rates on both savings accounts and fixed-deposits while some have only done so for savings. The savings interest rate, which now stands at 8% per annum, will be raised to 8.25...

Government to Reclaim Non-operating Industrial Zone Lots

The Yangon Division Government will repossess vacant lots at the Industrial Zones scattered in and around the Yangon Metropolitan area, compensating the owners at the buying price paid at the time of initial development. A chairperson of one of the Industry Management Committees was quoted as...

Myanma Airways Signed Deals with ATR for Six Aircrafts and MRO Facility

Yangon – On July 16, Myanma Airways signed contracts with French based aircraft company ATR to buy six aircrafts and establish a large-scale MRO facility in Myanmar. With the agreement from the French government and the financial support from Italy’s EXIM Bank, Myanma Airways will acquire six ATR...

MPT’s Two Japanese Partner Companies Agree to Invest US$2 Billion

Yangon – MPT’s two Japanese partner companies KDDI and Sumitomo Corporation have announced that they will invest US$ 2 billion to expand the telecommunications services. After a long selection process for its foreign operator, the two Japanese companies were finally selected by MPT. The partnership...

Over 270 Vehicles Sold at Ford Showroom within Last Six Months

The recently opened Ford Car showroom has sold over 270 vehicles during its first six months of operations, according to its press release. Brand new Ranger Pickups are the top selling class, as it was stated. Ford was one of the earliest foreign entrants into the Myanmar market, opening its...

Education Sector in Myanmar Immediately Profitable, Says UK

Yangon – Private schools, English language courses, and skill and vocational training schools are business opportunities in Myanmar that will provide immediate returns since there is a need for education and training in all sectors in the country, UK Trade & Investment (UKTI) says. UK investors...

Myanmar Has US$ 75 Billion Worth of Untapped Natural Gas, Says U.K.

Yangon – UK Trade & Investment (UKTI) has confirmed that there is still US$ 75 billion worth of untapped natural gas in Myanmar. In addition, there could be twice this amount still waiting to be explored, the UK organization estimated. Myanmar ranks number 10 on the list of the world’s largest...

Jade Mining to Resume in Kachin State

Yangon – After 29 months of prohibition, private companies are authorized to resume jade mining in Kachin State in coming September. “Owners have long wanted to restart their businesses. Both they and workers have work to do now,” said U Tun Hla Aung, Secretary of Myanmar Gems and Jewelry...

Import in This Quarter US$ 1 Billion Higher than in the Previous Year

Yangon – Myanmar’s total trade volume in this quarter is more than US$ 500 million higher than in the previous year. The total import exceeds the total export by more than US$ 1 billion. “The trade deficit pushes inflation and make people’s lives harder,” said u Hla Maung an economist. Now Myanmar...

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