International steel manufacturing companies in the Thilawa Special Economic Zone near Yangon have been looking for opportunities to ramp up their capacity to produce in anticipation of greater demand. “Compared with neighbouring countries, steel production in Myanmar is just 50,000 tonnes. But there is a lot of potential as the country needs a lot of […]
Read MoreMyanmar is a “potential gold mine” and the “last frontier for” investors despite its low ranking in ease of doing business, said a Singaporean investor at a business to business matchmaking event in early November. MyanmarBizConnect Group, a local business matchmaking group, the Singapore’s Association of Small and Medium Enterprises (ASME) and Malaysia’s RHB Bank […]
Read MoreChina is planning to build vital trade and logistics links with Myanmar along the Ayeyarwady River as part of the China-Myanmar Economic Corridor (CMEC) to bypass poor road infrastructure. Proposed by China in November 2017 as part of its global Belt and Road Initiative, the CMEC is expected to connect China’s Yunnan Province with Mandalay […]
Read MoreA mixed development waterfront project on along the Kaladan River in Sittwe, Rakhine is now 90 percent done and is expected to be complete by the middle of next year, Steve Park, CEO of Korean developer BXT International Co, told Myanmar Times. The remaining work involves the completion of roads, drains and power grids at the project […]
Read MoreWorkers are now able to apply for official remittance licences to transfer money between Myanmar and other countries, according to the Central Bank of Myanmar (CBM). The move, which commenced on November 15, is aimed at facilitating money transfers to Myanmar by migrant workers based overseas. A deposit of K100 million is required to apply […]
Read MoreThe prevalence of cash transactions and smart phone ownership in Myanmar provides an attractive opportunity for the spread of digital savings services to underserved or unserved households, a UN expert says. UN Capital Development Fund (UNCDF) Country Coordinator for Myanmar Paul Luchtenburg said this during a talk last Saturday at a forum held in conjunction […]
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