Over 12,000 people have applied to buy land being offered by the Yangon Regional Government, including plots designated for residential and industrial use. K10,000 application forms were sold by the regional government during October 7 – November 8 and prospective buyers were required to propose a price for each of...
Myo Sandar/Myanmar Business Today In a move to counter illegal money transfers, the Central Bank of Myanmar on November 15 issued rules for cross-border remittances. Under the directive, only local companies registered in accordance with the Myanmar Companies Act who have placed a certain amount of deposit can apply for a...
BORN DIFFERENT Like most 3 year old, Thiha Zaw is outgoing and full of energy. He loves to run around with his neighborhood's kids to the point of skipping his meals. Unfortunately, he was abandoned by his biological parents and adopted by Daw Kyi Htay. He has been lucky that...
Leading spirits maker Myanmar Distillery has changed its name to Grand Royal Group International. Ownership, investment and staff structures remain unchanged. “The renaming strategy is aimed at strengthening our corporate identity and to ensure that our stakeholders are served better under one common name,” said CEO Sanjay Gupta in a...
Myanmar received an average of $500 million a month in foreign direct investment during the first quarter of the new fiscal year, according to U Thant Sin Lwin, director general of the Directorate of Company Administration (DICA), “Counting the FDI into Thilawa SEZ, the total is over $1.5...
DO Microfinance, a joint venture between local company OKM and Japan-based DAIWA PI Partners, plans to provide K150 billion in loans to 130,000 customers over the next five years. The company has provided K1.7 billion in micro loans to 8,000 customers, 80 percent of whom are women. Currently, it has...
To reduce train accidents and fatalities due to reckless railway crossing in Yangon, the Myanma Railway Department will spend K94.76 million to build 35 railroad overpasses. The department is carrying out construction of five of the planned overpasses with completion date set for the end of December. The five overpasses...
The government has set a borrowing limit of K90,000 billion, according to the Fiscal Policy Statement 2019-2020 prepared by the Ministry of Planning and Finance. This amount includes loans from both domestic and foreign sources. The statement targets lowering domestic borrowing for deficit financing to under 20 percent. The government...
Six companies have passed preliminary selection for the Yangon Regional Government’s smart car parking projects in six downtown townships. The winner will be chosen through a bidding process and the due date for bid submission is November 29, according to U Min Khaing, who heads the Yangon City Development...
Written by Stephanie Li If you believe in investing in a vision rather than just in companies, Myanmar’s first tech hub, Phandeeyar, will give you the lowdown on the country’s burgeoning startup market. Nowadays, buying a SIM card for $1.5 or less has become commonplace, yet it would have been unthinkable...