11 Tuesday Dec 2018
Myanmar’s Apex Bank Limited (“MAB”) has announced it will provide uncollateralized loans to Myanmar’s small and medium sized businesses (“SMEs”). The lending programme is being implemented in cooperation with German state-owned development bank KfW (formerly KfW Bankengruppe). Read more…
30 Friday Nov 2018
Tags
China Communications Construction Company, European Chamber of Commerce Myanmar, Myanmar Government
The Myanmar Government-owned New Yangon Development Co. Limited (“NYDC”) and the HKEX-listed China Communications Construction Company (“CCCC”) are in advanced negotiations in respect to the New Yangon City Development Project (“Project”). NYDC and CCCC are currently in the process of preparing pre-project documentation (“PPD”). Read more…
20 Tuesday Nov 2018
The Central Bank of Myanmar (“CBM”) has approved the establishment of the Mineral Development Bank (“MDB”) to provide banking services to small and medium size enterprises (“SMEs”) in the gems and mineral sector. Speaking at the opening ceremony U Ohn Win, Minister for Natural Resources and Environmental Conservation said “The MDB was established to provide loans for developing technologies in the extraction of gems and minerals and production of finished products”. Read more…
15 Thursday Nov 2018
Pursuant to Central Bank of Myanmar (“CBM”) Notification No. 6/2018, foreign banks in Myanmar will be permitted to provide commercial services, putting them on a more equal footing with the countries local banks. According to CBM Vice-Governor. U Soe Thein, a further implementing notification will soon be issued to deal with technical issues and to set out the exact scope of the banking services foreign banks will be permitted to provide. Read more…
06 Tuesday Nov 2018
The Myanmar Government is drafting a National Savings Mobilisation Strategy to encourage the public to save more. According to the Deputy Minister of Planning and Finance U Maung Maung Win “despite rising volume of savings at local banks, more is needed to support continued economic growth and for Myanmar to reach parity with its regional neighbours”. Read more…
31 Wednesday Oct 2018
Myanmar’s mining industry is expected to grow in 2019 following an increase in both foreign and domestic investment in the sector. According to U Than Soe, deputy permanent secretary of the Ministry of Natural Resources and Environmental Conservation (“MONREC”), it is anticipated additional permits for small-scale mining will be issued over the next twelve months. Read more…
22 Monday Oct 2018
The Myanmar Government is aiming to attract increased foreign direct investments (“FDI”) from East Asia over the next 20 years under its new Myanmar Investment Promotion Plan (“MIPP”). Read more…
11 Thursday Oct 2018
On 8 October, the Myanmar Investment Commission (“MIC”) launched its Myanmar Investment Promotion Plan (“MIPP”) for the period up until 2036. The plan outlines five strategies to actively promote investments in the local economy, including new policies and regulations, institutional development, infrastructure development and leveraging on local business systems, industries and human resources. Read more…
28 Friday Sep 2018
‘Get Ride’, a local ride-hailing platform majority owned by the founder of Myanmar’s BOD Tech Ventures, has officially launched its operations in Mandalay. The bike, tuk-tuk and taxi-hailing platform is part of ‘Get’ (“GET”) an omni-channel digital commerce platform established in 2017 by early-stage tech investor Mike Than Tun Win and Nyein Chan Soe Win. Read more…
21 Friday Sep 2018
A business sentiment survey conducted by the Union of Myanmar Federation of Chambers of Commerce and Industry (“UMFCCI”) has identified the principle challenges facing local businesses. Nearly 1,500 businesses from the services, manufacturing and trade sectors contributed to the survey. The survey found that despite economic growth over the past three years overall business sentiment has decreased by 5%. The survey identified 10 key causes for the decline in business sentiment. Read more…
