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...
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...
Singapore-based Green Urban Ventures will invest over $142 million to develop a mixed-use project in Yangon following the recent approval of their investment proposal by the Directorate of Investment and Company Administration (DICA). The project represents the second foreign direct investment into Myanmar this fiscal year. Thailand-based Amata Group’s $300...
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...
The President's Office has instructed the Yangon Regional Government to fully comply with existing laws when confiscating land for industrial and city expansion projects, said Deputy Minister for the Union Government Office U Tin Myint in remarks to the lower house of parliament on November 19. “The President’s Office has...
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...
NAGOYA Japan seized the last event of its G20 presidency on Friday to push back at South Korean claims about radiation from its ruined Fukushima nuclear plant as a deep dispute between Tokyo and Seoul threatened to overshadow the meetings. Foreign ministers from the Group of 20 (G20) nations gathered in...
  The Tourism Authority of Thailand (TAT) is partnering with Visa Myanmar to promote tourism between the two countries under the “B500 for You” campaign, which ends in December. Aimed at promoting awareness of the security and ease of digital payments and acceptance of Visa, the campaign encourages more Myanmar tourists...
The five-star Zealax Hotel & Residence by Eskala is slated to open January 1, 2020, its management announced at a November 20 press conference. The development with 100 rooms and 45 residential apartments is located on Strand Road, Ahlone Township. It offers views of Shwedagon Pagoda, Yangon River and the...
The Bagan Tour Guide Association has urged the Ministry of Hotels and Tourism and the District Administration Office to implement a specific route for electric bicycles in order to prevent e-bike related accidents and ensure safe riding experiences. “We proposed the plan during our last meeting on October 20,” the...