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,...
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Tin Mg Oo/Myanmar Business Today State Counsellor Daw Aung San Suu Kyi hailed Myanmar’s place among the top 20 improver countries in the World Bank’s Ease of Doing Business 2020 list at the Centennial Celebration of the Union of Myanmar on November 22 in Naypyidaw. “Myanmar got 468 points in the...
Myo Sandar/Myanmar Business Today Myanmar expects its foreign trade to shrink slightly to $33 billion in the 2020 fiscal year, with $15.5 billion in exports and $17.7 billion in imports, according to Deputy Permanent Secretary for Commerce U Khin Maung Lwin. Imports of raw materials and consumer products account for the...
Tin Mg Oo/Myanmar Business Today Looking to diversify its investment portfolio, IKBZ Insurance has signed up to KyoPay’s invoice discounting platform to do a series of pilot transactions with vetted account receivables from local and foreign businesses in Yangon. During the first stage of the pilot phase, IKBZ will be purchasing...
Ei Thandar Tun/Myanmar Business Today Yangon-based logistics startup Kone Si recently closed on an investment from Yangon Capital Partners, a Myanmar-focused venture capital set up by Trust Venture Partners, and Vietnam-based Nest Tech Holdings. This represented the second round of investment for Kone Si as it received pre-seed funding from Phandeeyar...
LONDON The physical crude oil market and the structure of the oil futures curve have rarely been more aligned over the past few years than in recent weeks, and they tell a counterintuitive story of a tight oil market next year. While OPEC and the International Energy Agency point to a...