Quarterly Business Magazine

News

Japanese-Singaporean Company Given Contract for Hanthawaddy International Airport

Yangon – Tender Evaluation Committee for the Hanthawaddy International Airport project, having selecting the Korean-based Incheon Company ten months ago, decided to replace it with a Japanese-Singaporean joint venture company to implement the project. The selected joint venture, Yongnam-CAPE-JGC...

Ministry Owned Timber Factories to Be Transferred into Private Operators

Yangon – The Myanmar government is planning to allow private operation in timber and related factories owned by Myanmar Timber Enterprise. “The government has been trying to transform state-run enterprises into private businesses, so our ministry is following this policy,” says an official from...

Government Reauthorizes Pre-Arrangement Visa on Arrival

The Myanmar government has reauthorized pre-arrangement visa on arrival, which was discontinued since last month, till the end of 2014. "We just received the notification letter from the Directorate-General at the Ministry of Immigration and Population that they have reauthorized it till the end of...

Dollar to Kyat Exchange Rate Passed 1,000 First Time in Four Years

Dollar to Kyat exchange rate reached 1,005 due to the reduced supply of dollars from the Central Bank of Myanmar for private banks, the stagnating economy, and political instabilities. Normally, the exchange rate tends to fall after the monsoon season. However, it has risen this year and is likely...

Draft Private Universities Law Allows Private Universities on Land Five Acres or Bigger

Yangon – The Draft for Private Universities Law has allowed anyone who wants to establish private universities in Myanmar to do so on a land not smaller than five acres. According to the Draft, written by the Ministry of Education, private universities will need to obtain pre-authorization from the...

Red Link to Apply for ISP License

Yangon – Red Link Company, which is providing internet service in Myanmar on the WiMax system, will apply for an internet service provider license in order to upgrade its services. “We have started with the application process. As soon as we obtain the license, we plan to provide better services to...

ADB’s Donor Countries Agreed to Provide US$ 150-200 Million to Aid Myanmar’s Development

Yangon – According to Asia Development Bank (ADB), donor countries have agreed to provide US$ 150-200 million of aid within four years for the development programs in Myanmar. From 2013 to 2016, ADB will spend the aid on human resources development, economic development, and infrastructure overhaul...

To Help Investors Avoid Sky-high Land Price, Myanmar Government Plans to Build Factories for Rent

Yangon – In order to help both foreign and local investors avoid steep land prices in industrial zones, the Ministry of Industry is planning to build factories for rent. According to Deputy Minister of Ministry U Thein Aung, due to prohibitive land prices in industrial zones, his ministry is...

U.S.-based Hilton Opens Hotel in Nay Pyi Taw

Yangon – U.S.-based hotel chain, Hilton has opened its Hilton Nay Pyi Taw, which has over 200 rooms, in Nay Pyi Taw on October 17 th . The hotel is owned together by Eden Group and Hilton World Wide Company. “Let me be frank. I would never imagine any international hotel coming to Nay Pyi Taw. But...

Toyota the Most Popular Car Brand in Myanmar, According to Survey

Yangon – According to a survey by Motors.com.mm, Toyota has the most popularity and the biggest market share in Myanmar’s automobile market. Toyota tops the survey with 53 percent of market share, followed by Honda with 11 percent and Nissan with 8 percent respectively. Myanmar’s car owners favor...

Pages

Powered by Drupal