Quarterly Business Magazine

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Ayeyarwady Bank Provides the First Online Banking Service in Myanmar

Yangon – The first internet banking service in Myanmar will be available anywhere with access to the internet. On June 17 th , Ayeyarwady Bank received authorization from the Central Bank, and its internet banking service thus became official. Before then, only employees and a few customers of the...

American Company Surveys Mandalay Region for Power Generation Investment

Mandalay – An American company is visiting the Mandalay region to discuss investment in power generation. Solargy Power System—based and producing electricity in Thailand—discussed with government officials on 26 th about building a 30 megawatt solar plant near Wundwin in Meikhtila district, said U...

Local Law Firms Help Investors Shun the Locals on U.S. Sanctions List

Yangon – For American companies coming to invest and seek local partners in Myanmar, it is not easy to learn about the background information and the related businesses of the people placed on the U.S. government’s Specially Designated Nationals (SDN) List, according to Eric Rose, Lead Director at...

Government to Finalize Foreign Bank Selection in September

Yangon – The government will finalize the selection process for foreign banks to operate in Myanmar in September, Vice Governor at the Central Bank of Myanmar, Dr. Sett Aung said at the Assembly of the Union on June 25 th . Foreign banks will be given different options to operate in Myanmar—...

Two Singaporean Companies Permitted to Produce Electricity in Thaketa

Yangon – Two Singaporean companies will invest in a power generation business on the BOT (Build-Operate-Transfer) system in Thaketa Township in Yangon. The two companies, Max-power (Thaketa) and Myanmar Power, will produce up to 50 megawatts and sell the generated electricity to the Ministry of...

Hong Kong-based Company and Local Firm to Invest US$ 300 Million on Military Land

Yangon – A Hong Kong-based company and a local company will invest about US$ 300 million on a military land near the Shwe Dagon Pagoda and U Htaung Bo Circle. The investment will consist of apartments, hotels, and office buildings. On a 22-acre military land next to the Maha Wizaya Pagoda near the...

Garment Manufacturers Want Lower Taxes for Imported Fabrics

Yangon - Although garment manufacturers would rather pay taxes to import fabric, they have to resort to the CMP (cutting, making, and packaging) system for raw materials because of the high tax rate, according to Myanmar Garment Manufacturing Association (MGMA). “The talks about changing the tax...

New Zealand Interested in Agricultural and Livestock Businesses in Mandalay

Mandalay - New Zealand is interested in investing in the agricultural and livestock sectors for export in the Mandalay region. According to U Myint Than, Mandalay Region Minister for Agriculture and Livestock, officials from the New Zealand Embassy in Yangon and the regional government officials...

Myanmar Trade Center Opens

Yangon - In order to promote trade, the Ministry of Commerce opened the Myanmar Trade Center in its Yangon regional office on June 21st. “We establish this center so that foreign investors can understand the specific procedures to follow if they want to invest in Myanmar and local businesses can...

Ministry of Commerce Targets to Achieve US$ 30 Billion in Total Trade Volume

Yangon - The Ministry of Commerce is planning to achieve US$ 35 billion as the total trade volume for this budget year, according to Union Minister for Commerce U Win Myint. “There are a lot of illegal trades in this country. We have discussed with other ASEAN countries about it at the World...

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