Home Investment & Finance

Investment & Finance

  AMATA Asia (Myanmar), a subsidiary of Amata Corporation, a listed company on the Stock Exchange of Thailand, signed an agreement with the Ministry of Construction on January 24 for the $1 billion Yangon Amata Smart and Eco City project. The project, 80 percent owned by Amata with the Department of...
Japanese communications giant NTT Ltd., the parent company of Yangon-based NTT Myanmar, has invested $400 million to commence construction of MIST large-capacity submarine communications cable linking Singapore, Myanmar and the Indian cities of Mumbai  and Chennai. The project is part of NTT’s strategic joint venture with Orient Link Pte. Ltd....
Private-sector development program DaNa Facility announced a call for applications to the Fintech Challenge Myanmar 2020 on January 21. The aim of the challenge is to foster fintech solutions that can improve the quality and quantity of financial services to the underserved and unbanked. DaNa Facility organizes the event in collaboration...
NTT Myanmar, the Yangon-based affiliate of international technology service provider NTT Ltd., has secured a business-to-business wholesale license from the Ministry of Commerce to offer information and communications (ICT) solutions and managed services to enterprise clients in Myanmar. Obtaining the license constituted a crucial step for NTT Myanmar to scale...
Written by Stephanie Li Myanmar’s economy looks set to grow by 6.4 percent in fiscal 2019-20, up from 6.3 percent last fiscal year, bolstered by growing investment in the transport and telecom sectors and planned infrastructure spending by the government before the 2020 elections, according to a World Bank report...
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...
The Myanmar insurance industry dates back to the mid- to late-1800s, when the country hosted over 100 insurance companies, mostly foreign owned. World War II, however, brought all services to a screeching halt. Then, in the late 1940s, Myanmar’s insurance sector came back to life; it was nationalized in 1952,...
Speaking at a recent workshop on helping investors, the Chief Minister of Yangon urged local and foreign investors to keep in touch with the local government so that it can provide them with timely help and support. “We are trying to build an economically developed city and so investors need...
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...
Leading B2B digital payment service provider Ongo and Myanmar Oriental Bank (MOB) on January 13 announced their latest partnership to enable customers to easily access their bank accounts via Ongo’s mobile app.  Using the integrated services, customers will be able to conveniently and freely move money into their MOB savings accounts, earning an interest, as well as move money into Ongo’s mobile wallet for transactions, according...