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License Fees Announced for Travel Companies with Outbound Trips

Yangon – The Ministry of Hotels & Tourism of Myanmar has set the license fees for travel companies with outbound trips: 400,000 kyats for citizens owned companies and US$ 2,500 for foreign owned companies. The ministry started allowing outbound trips at the beginning of February and announced...

Pokka to Be Manufactured in Myanmar

Yangon – Pokka, a famous Japanese beverage company, will invest kyat 3 billion in producing and distributing its beverages in Myanmar. The company will build a factory and is preparing to distribute its globally popular products in the domestic market, according to U Min Banyar San, director of...

Government Monetary Institutions in Myanmar and Singapore Signed MoU

Yangon - The Central Bank of Myanmar and the Monetary Authority of Singapore have signed a memorandum of understanding for cooperation in banking supervision and capacity building. The agreement was reached after a bilateral meeting with the Emeritus Senior Minister Goh Chok Tong. “The training...

Singaporean Investment Tops the Hotel Industry in Myanmar

Yangon - According to the Ministry of Hotels and Tourism, by the end of 2014, Singapore has invested over US$ 1.5 billion in a total of 20 projects in the hotel industry in Myanmar, more than any other country. The data from the Ministry of Hotels and Tourism also show that, in 2013, Singapore...

Korea to Provide Loans for Construction of Yangon-Dala Bridge

Yangon – The Myanmar government has reached an agreement with the Korean government to obtain loans for the construction of the Dala Bridge, which will connect Yangon and Dala. According to a Korean newspaper Daily Economy, the Korean government has agreed to provide a US$ 138 million loan to...

Saving Withdrawal Rose Two Folds at United Amara Bank after U Aung Thaung’s Sanction

Yangon - Due to rumors after the news of the US sanction on U Aung Thaung, the saving withdrawal rose two folds at United Amara Bank (UAB Bank), according to the bank’s officials. “Usually, the gaps between deposit and withdrawal average four to five billion Kyats. But it has reached ten billion...

Two New Airlines Given MIC Permits

Yangon – Myanmar Investment Commission (MIC) has given permits to two new domestic and international airlines based in Nay Pyi Taw in October. The two airlines are Apex Airline Public Co., Ltd. and FMI Air Charter Ltd. Both are owned by Myanmar citizens. Apex Airlines is operated by Dawei-based...

U.S. Government Put U Aung Thaung on Sanction List

Yangon – The US Treasury Department announced on October 31 st that U Aung Thaung, a representative from the ruling Union Solidarity and Development Party (USDP) has been put on the US’ Specially Designated Nationals (SDN) List. The announcement was made by the US Office of Foreign Assets Control (...

Myanmar Up Five Places in Doing Business Report, Government Minister not Content

Yangon – Although the Myanmar government has relaxed many of its restrictions, Myanmar has climbed up only five places in terms of the Ease of Doing Business by the World Bank. Therefore, Minister of the President’s Office U Tin Naing Thein has stated that the government will assist the World Bank...

Ooredoo Expands Network in 13 Townships in Yangon

Yangon – According to news from Ooredoo Myanmar, with its network expansions in 13 townships in October, there are now 39 townships in Yangon Region. “Ooredoo’s mobile network covers 35 townships in Yangon, so we have 95 percent coverage in the city of Yangon. By the end of this year, our network...

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