Quarterly Business Magazine

News

Myanmar Government Reorganizes Myanmar Investment Commission (MIC)

Yangon – As prescribed in the investment law, Myanmar Investment Commission—previously under control of the President—was officially re-organized by the union government after the President Office had announced the former’s dissolution. “The commission has been reorganized for more than ten days-...

Kyauk Phyu SEZ to Provide Employment Opportunities for More Than 100,000 Locals

Yangon – After Kyauk Phyu Special Economic Zone has been implemented, it will provide employment opportunities for more than 100,000 locals, said U Aung Kyaw Than, Joint Secretary of Kyauk Phyu SEZ’s Bid Evaluation and Awarding Committee. The SEZ project is expected to start in March 2015. “From...

Kyauk Phyu SEZ to Compensate Confiscated Land Accordingly and to Invite Tenders in Singapore on July 7th

Yangon – All farmland and grazing land included in the 4,000 acres allocated for the newly designated Kyauk Phyu Sepcial Economic Zone will be compensated accordingly to international rules, said U Myint Thein, Deputy Minister for Ministry of Rail Transportation and Chairperson of the Kyauk Phyu...

Strategic Environment Assessment to Begin for Second Phase of Thilawa SEZ

Yangon – For the second phase of Thilawa Special Economic Zone that covers an area of 2,000 hectares, strategic environment assessment will begin, said Than Than Thwe, joint secretary of the Thilawa SEZ Management Committee. “We can’t tell when the project will take off. We are now taking surveys...

More Foreign Banks Interested in Micro-Finance Sector

Yangon – Due to large percentage of people in poverty, many foreign financial institutes and banks are applying licenses to operate in the micro-finance sector, Vice Minister for Finance and Internal Revenue Dr. Maung Maung Thein said. “The market for this sector is so huge that many foreign banks...

Ayeyarwady Bank Provides the First Online Banking Service in Myanmar

Yangon – The first internet banking service in Myanmar will be available anywhere with access to the internet. On June 17 th , Ayeyarwady Bank received authorization from the Central Bank, and its internet banking service thus became official. Before then, only employees and a few customers of the...

American Company Surveys Mandalay Region for Power Generation Investment

Mandalay – An American company is visiting the Mandalay region to discuss investment in power generation. Solargy Power System—based and producing electricity in Thailand—discussed with government officials on 26 th about building a 30 megawatt solar plant near Wundwin in Meikhtila district, said U...

Local Law Firms Help Investors Shun the Locals on U.S. Sanctions List

Yangon – For American companies coming to invest and seek local partners in Myanmar, it is not easy to learn about the background information and the related businesses of the people placed on the U.S. government’s Specially Designated Nationals (SDN) List, according to Eric Rose, Lead Director at...

Government to Finalize Foreign Bank Selection in September

Yangon – The government will finalize the selection process for foreign banks to operate in Myanmar in September, Vice Governor at the Central Bank of Myanmar, Dr. Sett Aung said at the Assembly of the Union on June 25 th . Foreign banks will be given different options to operate in Myanmar—...

Two Singaporean Companies Permitted to Produce Electricity in Thaketa

Yangon – Two Singaporean companies will invest in a power generation business on the BOT (Build-Operate-Transfer) system in Thaketa Township in Yangon. The two companies, Max-power (Thaketa) and Myanmar Power, will produce up to 50 megawatts and sell the generated electricity to the Ministry of...

Pages

Powered by Drupal