The government and young people of Myanmar must refrain from embarking on national development projects that do not benefit the country’s citizens, U Thein Tun, chair of Tun Foundation, said at 2nd Myanmar Young Entrepreneurs Summit held in Nay Pyi Taw on December 9. U Thein Tun, who is also chair of Myanmar Consolidated Media, […]
Read MoreThe US-ASEAN Business Council (USABC) led a business mission to Myanmar in which they held a meeting with the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) to strengthen trade and investments in the country. The USABC is an advocacy organisation for American corporations operating within the Association of Southeast Asian Nations (ASEAN). […]
Read MorePresident U Htin Kyaw signed the Myanmar Companies Act at the Pyidaungsu Hluttaw Wednesday, approving the most anticipated piece of legislation in the country this year. Under the new Myanmar Companies Act, foreigners will be permitted to take up to a 35 percent stake in local companies. It also stipulates that businesses with foreign stakes […]
Read MoreConstruction of a multi-billion-dollar oil refinery in the south of Dawei has been cancelled after an investor in the project ran into financial constraints, sources confirmed. If completed, the oil refinery would have been the largest in Myanmar. The project, which is backed by the Chinese, had received approval under the former government led by […]
Read MoreThe Central Bank of Myanmar (CBM) will approve the forming of five sector-specific banks, according to a directive from the President’s Office to the central bank. Under the directive, the President’s Office has instructed CBM to approve the opening of Myanmar Tourism Bank, Mineral Development Bank, Glory Farmer Development Bank, Mandalay Farmer Development Bank and […]
Read MoreThe government is exploring ways to restart development of the suspended Dawei Special Economic Zone (SEZ), saying the SEZ will benefit Myanmar as well as the region. The Dawei SEZ includes construction of the highway as well as a deep-sea port which will link Thailand, Cambodia and Vietnam in the ASEAN region to India, the […]
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