The Central Bank of Myanmar is considering revising its policy rate but will make a decision only when necessary, its deputy governor told the country’s legislative body on February 11. U Soe Min made the remark during a presentation of reports on fiscal policy implementation and the country’s financial stability. “When...
Ei Thandar Tun BDS Smart City Co., Ltd., a subsidiary of Malaysia’s Berjaya Land Berhad, is set to build a $782.72 million city project in Yangon’s Dagon Seikkan Township following the signing of a concession agreement with the Yangon Regional Government on February 7. The project, located on 184 acres of...
Grab Aims to Change Cab Hiring Culture in Myanmar Taxi bookings through a mobile app debuted in Myanmar in late 2015. Since then, four years have passed but online taxi bookings have yet to replace the old-fashion taxi-taking culture in which a customer would stand beside the road to hail...
Dubai-based budget airline flydubai has launched daily direct flights between Yangon International Airport (YIA) and the United Arab Emirates city. The December 10 inaugural flight marked the airline’s first scheduled flight to a Southeast Asian city. Flydubai will take over the Dubai-Yangon direct flights from Emirates and will increase its...
American sportswear maker Under Armour recently opened its first brand-house store in Myanmar as part of a move to expand its brand presence in Southeast Asia.  Located at Myanmar Plaza, the 1,884 sq.ft. store is open from 10 a.m. to 10 p.m. “Although the sports category is still at an early...
Wave Pay, a mobile payment app owned by Wave Money, and international payment company 2C2P signed a memorandum of understanding on January 22 aimed at providing more convenient payment methods. “Before, customers had to use cards to buy a flight ticket or book a hotel room. They always needed some...
Myanmar’s economy has been growing at a similar rate to its ASEAN neighbors, U Soe Min, Deputy Governor of the Central Bank of Myanmar, told the country’s highest legislative body on January 27. “Economic growth is not very much different from the previous year,” he said. “Generally, the country's economic...
Yangon Chief Minister U Phyo Min Thein called for environmentally-friendly and responsible investments into the region during remarks at the February 6 ‘Green Economy Green Growth’ seminar at UMFCCI. “We have carried out mangrove forest restoration initiatives in Yangon Region by planting around 30,000 acres of mangrove trees as we...
Myo Sandar/Myanmar Business Today One One One company has won the bid to upgrade Tamwe Market on 3.792 acres of land on Kyaikkasan Road, Tamwe Township, Yangon on a K16 billion budget. During a recent meeting with Yangon Chief Minister U Phyo Min Thein, shop owners at the market made an...
  Zin Thu Tun/Myanmar Business Today Tourist arrivals in Myanmar between January and September topped 3.1 million, representing an increase of 600,000 tourists over the same period last year. Along with the rise in tourist arrivals, the number of small and medium-sized tour companies in Myanmar’s recently opened up market also...