Businesses need to develop a scaling-up strategy and reskill their workforce in order to succeed in today’s global marketplace, according to speakers at a recent conference titled “Scaling Your Business: Grow-Connect-Leverage Business Success”. Organized by Bangkok-based executive, leadership and innovation education center SEAC (Southeast Asia Center), the November 15 event...
The Ministry of Electricity and Energy has placed an order for another 5,600 distribution transformers worth approximately $10.64 million from Hitachi Soe Electric & Machinery as part of the initiative to increase electrification rate from less than 50 percent in 2018 to 100 percent by 2030. Rapid economic development has...
AIA, one of the foreign insurance companies licensed to provide life insurance in Myanmar, celebrated its centennial anniversary with a charity run in the Unesco World Heritage city of Bagan on November 17. The “AIA Go! For Light” run organized by AIA Myanmar saw 200 participants compete over a scenic...
Myanmar is one of the world’s top exporters of sesame, a crop grown by an estimated 500,000 farmers in the country’s Central Dry Zone. And yet sesame is known as the forgotten crop because of its tendency to be overshadowed by the more established paddy. Sesame has the potential to...
Ei Thandar Tun/Myanmar Business Today Leading Philippine conglomerate Ayala Corporation has invested $237.5 million for a 20 percent stake in Singapore-listed Yoma Strategic Holdings and its affiliated company, Yangon-listed First Myanmar Investment (FMI). Ayala’s acquisition represents one of the largest foreign direct investments into Myanmar and the largest-ever investment into the...
Myo Sandar/Myanmar Business TodayIn a move to assist SMEs and contribute to the country’ economic development, the SME Development Bank is set to offer cash flow budget (CFB) loans requiring no collateral from the borrowers. The loans will be provided to SMEs in the agricultural sector (rice and corn), livestock...
Zin Thu Tun/Myanmar Business Today An investment forum is slated to be held in Shan State on November 26, organized by Myanmar Investment Commission (MIC) to attract investments into the state. The first such forum for States and Regions to be held this fiscal year, it aims to promote agriculture in...
Tin Mg Oo/Myanmar Business Today The Ministry of Natural Resources and Environmental Conservation has put on hold the application of Thai-owned company Myanmar Pongpipat to renew its license to operate Heinda Tin Mine in Tanintharyi Region, citing the company’s failure to prevent environmental damages. The Ministry will be closely monitoring...
Zin Thu Tun/Myanmar Business Today South Korea’s Posco International Corp. recently signed a front-end engineering design (FEED) contract with U.S. energy firm McDermott for the third-stage project of the Shwe gas field development. The agreement covers increasing production at Shwe and Shwe Phyu gas fields in A-1 block and Mya field...
Myo Sandar/Myanmar Business Today Myanmar’s foreign trade exceeded $3.1 billion in the first month of the 2020 fiscal year, an increase of $417 million over the same period last year, according to Ministry of Commerce data. The country exported over $1.5 billion worth of goods and imported $1.6 billion worth of...