IFC takes stake in Yoma Bank in first for Myanmar
Yoma Bank has become Myanmar’s first commercial lender with a foreign stakeholder following a decision by the International Finance Corporation (IFC) to convert a US$5 million loan into a five percent ...
Ministry reminds tourism operators to transact in kyat
The Ministry of Hotels and Tourism (MOHT) has issued a reminder to the airline and tourism industry to transact in the local Myanmar currency and apply for a local money changer ...
Myanmar to export recycled plastic pellets
Myanmar will be exporting recycled plastic pellets to China under a new agreement, according to an industry body. Arrangements are underway to export the plastic pellets, which are made from melting ...
Govt allows foreign companies to export rice, other commodities
The Ministry of Commerce (MOC) will now allow foreign and joint venture companies to export specific food and commodity items, according to Notification 24/2019 released on June 6. Foreign companies with ...
Myanmar to allow private plantations to export timber
The government will allow trees grown in plantations owned by the private sector and state-owned companies to be harvested for their timber and exported. Myanmar Timber Enterprise general manager U NyiNyi ...
CBM to approve QR code payment transactions soon
Digital payments using QR codes will be introduced to Myanmar as soon as the framework for such payments are ready. Shanghai-based financial services company Union Pay International’s (UPI) QR code system ...
Myanmar, Thailand sign agreement to facilitate overland trade
Overland cross-border trade between Myanmar and Thailand will officially commence at the end of July following an agreement to allow vehicles from both sides across the border to facilitate the transportation ...
China to import US$500m of Myanmar rice this year: minister
The value of rice Kunming will import from Myanmar this year is expected to reach US$500 million this year through a barter arrangement, deputy commerce minister U Aung Htoo claimed. A ...
Businesses collaborate to launch new loan facility for landowners
iMyanmarHouse.com has introduced an installment loan programme in Myanmar for those who own land but lack the capital to build a house or a building for commercial purposes. Ref: https://www.mmtimes.com/news/businesses-collaborate-launch-new-loan-facility-landowners.html
Magwe on track to see more investments this year
Magwe Region received K1.5 billion (US$966,000) in investments between last October and April this year, says Regional Minister for Planning and Development U Zaw Min. The investments, all from local businesses, ...