Implementation of the long-awaited Companies Law will be postponed until August 2018, Reuters reported Monday, citing top officials from Myanmar’s Directorate of Investment and Company Administration (DICA). Myanmar will delay implementing a new law that would have allowed foreign companies to take up to a 35 percent stake in local companies, bringing about badly needed reforms for […]
Golden Myanmar Business Exchange Plans $5 Million Data Center
December 7, 2017 by
GMBX, which bills itself as Myanmar’s only provider of wholesale infrastructure-as-a-service based on OpenStack, is a joint venture between Yangon-based Golden TMH Telecom Co Ltd (GTMH) and Golden 11 Investment International. The company already operates a data center in East Dagon with a current capacity of 100 racks, which could be expanded to about 400 racks, according to Kyaw Naing, […]
Growth Slower Than Expected, but Rakhine Impact Contained: IMF
November 23, 2017 by
The Myanmar economy expanded by 5.9 percent during the 2016-17 fiscal year, a rate slower than expected due to weak agriculture production and exports and the suspension of several construction projects in Yangon, according to the International Monetary Fund (IMF). As a whole though, economic and monetary conditions have improved. Growth is expected to rebound […]
