Singapore-listed company Memories Group Ltd yesterday launched three new hotels in Myanmar, located in Mawlamyaing, Yangon and Mergui, respectively, even as tourist numbers dip and occupancy rates fall across the country. The 72-room, 3-star Hotel Suggati will be Mawlamyaing’s newest hotel and is being positioned as a business hotel. Mawlamyaig is the fourth largest city […]
Read MoreMyanmar yesterday opened the first Mineral Development Bank (MDB) to provide banking services to small and medium size enterprises (SMEs) in the gems and mineral sector. “The MDB was established to provide loans for developing technologies in the extraction of gems and minerals and production of finished products,” said U Ohn Win, Minister for Natural […]
Read MoreEfforts must be taken to lessen Myanma Oil and Gas Enterprise’s (MOGE) tax burden from contracts signed with joint-venture firms to work offshore oil and gas fields, a report states. According to the “State-Owned Economic Enterprise Reform in Myanmar: The Case of Natural Resource Enterprises” report by the Natural Resource Governance Institute (NRGI) and Renaissance Institute, […]
Read MoreSingapore companies have big plans to expand in ASEAN over the next two years and Myanmar, with its growth potential and overall investment climate, is on the cards for many, according to a recent survey by the Singapore Business Federation (SBF). The survey, conducted from December 2017 to March 2018, collected views from 1036 Singapore companies […]
Read MoreForeign banks will be allowed to expand their branch networks in Myanmar next year, according to two senior officials of the Central Bank of Myanmar (CBM) yesterday. “More foreign bank branches will be allowed next year. Foreign banks can no longer be blocked from doing business in Myanmar because the local banks are not developed […]
Read MoreThe European Union will decide whether to restore tariffs on Indica rice imports from Myanmar in a bid to protect its own producers early next year. Brussels has denied the move is related to the country’s alleged human rights violations in northern Rakhine. “The rapid increase of Myanmar’s Indica rice exports has overwhelmed some European […]
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