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Mobile wallet KBZPay on January 7 introduced a new short-term financing product designed to help KBZPay agents and merchants improve their cash flows and grow their businesses. Called KBZPay Quick Access Loan, it allows KBZPay partners to access instant credit of K300,000 without collateral or guarantor. “Many of our 270,000 KBZPay...
Startup incubator Phandeeyar has made a $25,000 investment in Yangon-based startup Resdi as part of its newly launched Investment initiative. Resdi’s one-of-a-kind restaurant bookings and discounts app will also be added to the list of Phandeeyar’s portfolio startups. The new investment will allow Resdi to expand its team, fuel product...
Zin Thu Tun The Rakhine State Government has called for more proposals for an industrial zone project in Ponna Kyun. It started selling K10,000 proposal forms on December 18 and the deadline for submission is January 17. The state government has received one proposal, from a local company, Pyaywachanthar, for a...
IKBZ Insurance signed a partnership agreement with Japanese giant Mitsui Sumitomo Insurance (MSI) on December 5 to form a joint venture called KBZ MS. MSI has taken a 10 percent share in KBZ MS, with an option to increase its holding in future. Under Myanmar law, foreign investors can own...
The southern Tanintharyi Region has received 44 foreign direct investments worth over $2.3 billion in the three decades from 1988 to October 2019, according to remarks by Vice President U Myint Swe at a December 7 Investment Forum in Myeik City. The region has also received 71 investments in energy,...
Myo Sandar/Myanmar Business Today Travel booking platform FlyMya.com has entered a partnership with mobile financial service provider Wavepay to offer easy and secure travel payments. The two companies signed a memorandum of understanding on November 28. The mobile wallet option provided by the partnership will enable travelers to enjoy FlyMya travel...
Ei Thandar Tun/Myanmar Business Today AIA Myanmar has struck a partnership agreement with AYA Financial Group and Max Myanmar Group (AFG-MAX), under which AIA Myanmar will serve as the exclusive provider of life, health and wellness products and services to AFG-MAX’s retail customer and business partner ecosystem. AIA Myanmar is one...
Tin Mg Oo/Myanmar Business Today The government plans to send minister-counselors for economic affairs to five more countries to promote trade, said Deputy Minister of Commerce U Aung Htoo during remarks to the upper house of parliament on December 2. The new minister-counselors will be posted to Germany, Brazil, Australia, South...
Zin Thu Tun/ Myanmar Business Today Hong Kong-based V-Power is set to invest $500 million in power generation and distribution in Kyauk Phyu Township, Rakhine State and Thaketa Township, Yangon Region. “Their proposal says they will build a power plant as soon as possible, but they have yet to provide a...
Zin Thu Tun/Myanmar Business Today The Chin State government is inviting submission of Expressions of Interest (EOIs) for the development of a shopping mall and motel on four acres of land near Hakha City’s Myo Thit Quarter. The project will be implemented under build-operate-transfer (BOT) scheme, according to U Vani Liang,...