Pyin Oo Lwin to resume Tazaungzine hot air balloon festival this year

THE Pyin Oo Lwin Tazaungdine hot-air balloon festival (Tazaungdine) will be resumed this year, according to the festival organizing committee. The festival has been planned to be held in the hot-air balloon field near Maha Arnthtoo Kantha Hsutaungpyae Pagoda in Pyin Oo Lwin from 4 to 8 November 2022. The festival organizing committee invited tenders […]

5 EV charging stations to be established at 5 locations on Yangon – Mandalay Expressway

THE pilot project will be implemented to construct five charging stations at five locations on the Yangon-Mandalay Expressway, the Ministry of Electric Power announced. One charging station has a capacity of 50 electric vehicles and a total of 250 vehicles can be charged at the same time in five stations. The first five charging stations […]

Captured casino fugitive & Shwe KoKo’s boss She Zhijiang to be extradited back to China in latest move against cross-border gambling

A long-time fugitive of the Chinese government accused of running illegal cross-border gambling operations around Asia will be extradited back to China after he was arrested by Thailand authorities last week. She Zhijiang, chairman of Yatai International Holding Group, was convicted by a court in Shandong Province in 2014 of running an illegal lottery business […]

Yoma Strategic invests Ks 105 billion in Kawtthaung Hill Development Project

MYEIK—Yoma Strategic Holdings and First Myanmar Investment Company (FMI) will be investing Ks 105 billion in Kawtthaung Hill Development Project which includes international standard Museum, Hotel and Villas, according to the sources. The project will be implemented on 1199 Mountain situated in Kawtthaung Township, Kawtthaung District, Taninthari Region. The officials explained about the Environmental Impact […]

Only Overseas Workers Identification Card (OWIC) holders to be allowed to work in foreign countries

The Ministry of Labour has announced that migrant workers will be allowed to work abroad only if they hold an Overseas Workers Identification Card (OWIC). The statement was issued after the so-called ministry of labour of the National Unity Government-NUG, which has been declared a terrorist organization by the State Administration Council, announced that the […]

Myanmar Forms Foreign Exchange Supervisory Committee

The Myanmar State Administration Council published Order No. 28/2022 (“Order”), dated 4 April 2022, that provides for the establishment of the Foreign Exchange Supervisory Committee (“FESC”), its appointed members, and its functions. The members of the FESC include Union Government Ministers, a member of the State Administration Council, the Union Auditor-General and the Chairperson of […]

Central Bank of Myanmar requires foreign currency to be converted into Myanmar Kyat

On 3 April 2022, the Central Bank of Myanmar (“CBM”) issued a directive and a notification relating to the conversion of foreign currency income into Myanmar Kyats. This is applicable to all authorised dealer licence banks (“AD Banks”). Both Directive No. 4/2022 and Notification No. 12/2022 came into immediate effect upon their issuance. Directive No. […]

2020 Myanmar Business Environment Index – Yangon is still be best business city

Executive Summary The aims to identify constraints in Myanmar’s business regulatory environment and provide a tool for identifying reform opportunities that spur growth. The MBEI is an economic governance index (EGI), a specialized instrument pioneered by The Asia Foundation to measure the performance of local authorities and to assess the local business environment through quantitative […]

Myanmar Micro, Small and Medium Enterprise Survey 2019

Executive summary  The manufacturing sector should be seen as the backbone of Myanmar’s economic development. A well-functioning productive industry has the potential to generate high-quality and poverty-reducing employment, fuel growth through enhanced productivity and improve the opportunities for trade in the globally connected economy of which Myanmar has recently be- come a more active member. […]

World Bank’s Myanmar Economic Monitor June 2020

Executive Summary   The Covid-19 pandemic has interrupted Myanmar’s economic expansion, and while Myanmar is expected to narrowly escape a recession, helped by a strong start to the fiscal year, policy responses, and the limited disease outbreak, the growth recovery is at great risk. Myanmar’s GDP growth is estimated to drop from 6.8 percent in […]