Quarterly Business Magazine

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Myanmar Investment Commission Authorized 13 Investments in October

Yangon – Myanmar Investment Commission (MIC) has authorized 13 local and foreign investments in October. Among the permitted businesses are a resort on B.O.T system; a road pebble business; an international standard hotel; a 50-bedded private hospital; cinema; a logistics services business; and a...

Japanese Businesses Invest Most in Construction and Services Sector in Myanmar

Yangon – According to JETRO, Japanese businesses invest most in the services sector and the constructions sector in Myanmar. Although some are interested in the banking and transportation sector, the numbers are low compared with other investments. While trading sector has drawn considerable...

In Current Real Estate Market, Buyers Must Be Careful with Pre-Sale Units, Warn Market Experts

Yangon – The construction sector in Yangon has reached its peak, and those who invest in real estate through pre-sale apartments need to be careful with the market, say real estate professionals. With investors from all other sectors racing into the construction industry, apartment projects have...

Kanbawza Won Three Awards from World Finance

Yangon – London-based World Finance has awarded three banking prizes for year 2014 to Kanbawza Bank. According to the announcement from World Finance, Kanbawza Bank won “Best Banking Group in Myanmar 2014” and “Best Commercial Bank in Myanmar 2014,” and the Bank’s chairman U Aung Ko Win won “Banker...

Pyi Htaung Su Hluttaw Approved the New Electricity Law

Nay Pyi Taw – On October 3 rd , Pyi Htaung Su Hluttaw has approved the new Electricity Law that allows private sector to operate and re-negotiation of existing contracts with power companies already operating. “In re-negotiating existing contracts, we want to include the clause that allows power...

Operation of Crude Oil Pipeline to China Hampered by Slow Progress in the Seaport

Nay Pyi Taw – Although the construction of Shwe crude oil pipeline is 80 percent finished, the unfinished building of a small deep sea port in Kyaukphyu to accommodate oil from the Middle East—and thus the connection between the port and the pipeline to China—is hampering the operation of the...

Natural Gas Price for Export Declined

Yangon – According to the Ministry of Energy, the price for exported natural gas declines due to the low gas price in the global market. Currently, the wellhead price for 1 million cubic feet of natural gas is only US$ 5 million. The pipeline and distribution price is also declining. “We could sell...

Aviation Sector Brings Revenue of US$ 31 Million in First Quarter

Yangon – According to the Ministry of Transport, the aviation sector earned US$ 31 Million abroad in first quarter of FY 2014-2015. Flyover rights payment accounts for 80 percent of that revenue, which totaled US$ 31.036 million till the beginning of July. Domestic revenue from the aviation sector...

Facing Competition, Private Banks Reduce Service Fees

Yangon – In an environment becoming increasingly competitive, local private banks have reduced their banking service fees to order to gain more market share. Starting on October 2 nd , Kanbawza Bank, which has the most branch offices in Myanmar, reduced its fund transfer charges by 50 percent...

Yangon Will Need Extra 300 MW in Two Years for New Condo and Residences

Yangon – To accommodate Dagon City and other incoming condos and residence apartments, Yangon will need additional 200 MW within two years, according to Yangon City Electricity Supply Board. Currently, the country distributes 1,688 MW of electricity nationwide and half of it (800 MW) is consumed by...

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