Siam Commercial Bank plans to open its first branch in Myanmar this year if the Central Bank of Myanmar (CBM) grants a bank subsidiary licence, says a SCB senior official. If approved, SCB will upgrade the existing representative office to a branch, said first executive vice-president Kamalkant Agarwal. The bank needs time to develop infrastructure […]
Read MoreSeveral garment, footwear and bag factories in four industrial zones around Yangon have had to shut down or curtail operations due to a shortage of raw materials from China, an official from one of the industrial zones has revealed. However, despite the disruption of operations at the factories, container loads of raw material from China […]
Read MoreThe government revealed 58 national development projects during the launch of its online project bank website yesterday. Announced last year, the Myanmar Project Bank is an interactive web-based platform designed to highlight investment projects in line with the implementation of the Myanmar Sustainable Development Plan (MSDP) for 2018-2030. It can be found on www.projectbank.gov.mm. The 58 […]
Read MoreLow prices are causing problems for small- and medium-size poultry farms in Myanmar, industry officials say. The entry of foreign companies into the domestic poultry breeding industry is causing an imbalance between production and consumption, leading to prices falling below production costs, says Mandalay Region Livestock Breeding Federation chair Dr Kyaw Htin. “It is now […]
Read MoreSince April 2016, the government has invested roughly K1.2 trillion to produce some 700 megawatts of additional electricity for the country’s power needs, says Deputy Minister of Electricity and Energy U Khin Maung Win. “We are now generating an additional 700MW and we plan to produce another more 1000MW by the middle of this year,” […]
Read MoreYANGON, Feb. 23 (Xinhua) — Myanmar’s Yangon Region Investment Committee (YRIC) recently approved 16 foreign investment businesses for the region, according to the Directorate of Investment and Company Administration (DICA) late Saturday. A total of 28.507 million U.S. dollars of foreign investments from China, Seychelles and Estonia as well as 3 billion Kyats (2 million […]
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