After the dollar rate drastically surged from around K1,300 per dollar before February to K1,720 within just over three months, the Central Bank of Myanmar is planning to sell $1.6 million through money changers on May 13, according to local money changers. "We are to buy dollars from the central...
Most of the companies both local and foreign companies were planning to increase investments in January 2021, according to the joint survey conducted by ten foreign chambers of commerce, but now companies have halted their plans to increase investment after political events in February 2021. A total of 372 companies...
Yangon authorities reopened the parks, which were closed to curb the spread of COVID-19, in the mornings starting from January 21. The Yangon City Development Committee has shut down all the parks and playgrounds on December 21 amid a higher number of COVID-19 reported cases aiming to prevent crowds during...
The Ministry of Agriculture, Livestock and Irrigation will build a market center for agricultural products in Pubbathiri Township, Naypyidaw. The ministry held a groundbreaking ceremony for the $8.37 million building on January 20, 2021. “The center, upon completion, will create market stability providing market information for farmers and producers, and help...
After the government launched the COVID-19 funds inviting donations from citizens, the funds received over K10 billion and $2 million donations in a week, according to data from the COVID-19 Vaccine Fund Management Sub-committee. Between January 6 and 12, 728 people living in the country and abroad have donated K10.126...
Japan will expand existing investments in Myanmar under the new Myanmar administration, said Mr. Hideo Watanabe, Chairman of Japan-Myanmar Association and former Member of the House of Councilors of Japan. He said that during the meeting with Daw Aung San Suu Kyi, State Counsellor Myanmar, in Naypyidaw on January 18. During...
South Korea-based POSCO Group is in talks to make two investments, which total around $900 million, in Myanmar, according to Myanmar Embassy in Seoul. U Thant Sin, Myanmar Ambassador to the Korea Republic, on January 11 met Mr. Kyoung-Ho “Michael” Park, General Manager of Energy & Infrastructure Group (Power &...
Ooredoo Group and Ericsson (NASDAQ:ERIC) have signed a global frame agreement for the supply of 5G radio, core and transport products and solutions, as well as related implementation and integration services for all 10 of the Group’s operating companies in Qatar, Indonesia, Algeria, Iraq, Kuwait, Oman, Palestine, Tunisia, Myanmar...
Myanmar and China have signed the MoU to conduct a feasibility study for the Mandalay-KyaukPhyu railway project, to be jointly carried out by the two countries. “Myanmar considers this China-Myanmar railway collaboration including the Mandalay-KyaukPhyu railway important since it is crucial for China’s “the Belt and Road” project. We appreciate...
The government of Myanmar will announce the Economic Relief and Reform Plan, Daw Aung San Suu Kyi, the State Counsellor of Myanmar, said in her address to the National Tourism Development Central Committee’s meeting held on January 8.  “We will issue a Myanmar Economic Relief and Reform Plan, which includes...