UMG Idealab, the early-stage venture capital arm of Myanmar trade conglomerate UMG Group, has added two new companies to its portfolio after closing investments in Yangon-based online grocery delivery startup Zay Chin and Indonesian chocolate-maker Moodco last month. The VC firm did not disclose the size of the investments but said both were seed-stage deals. […]
Yangon’s market upgrades
August 23, 2019 by
Yangon’s new night market, which will be upgraded by a private company with K2 billion in funding, is expected to open later this year. Municipal markets, the centre of much day-to-day commercial life in both downtown Yangon and the city’s suburbs, will also be upgraded to improve cleanliness and convenience. “Upgrades to the night markets […]
Industrial zones in Yangon get upgrades
July 3, 2019 by
The region government has started working to upgrade 29 industrial zones, Yangon Region Chief Minister U Phyo Min Thein said at a press conference held at the Office of Yangon Region Government on June 29. Yangon region has 29 industrial zones and Thilawa Special Economic Zone which is jointly operated by Japan and Myanmar. The […]
Parliament Approves $40M French Loan to Upgrade Hydropower Plants
May 21, 2019 by
YANGON—The Union Parliament approved on Thursday a €35.7-million (US$40 million or 60-billion kyats) loan from Agence Française de Développement (or the French Development Agency) to be used for major upgrades to five hydropower plants in four regions as Myanmar experiences country-wide waves of regular power cuts. Of the 606 lawmakers in attendance, 546 voted in […]
Roads slow Thailand trade
January 22, 2015 by
Thailand officials expect to boost bilateral trade with Myanmar by 20 percent in the coming year as progress is made on logistics and trade promotion, according to government officials. Trade between the two countries takes advantage of the 2400 kilometre shared border, generating US$8 billion worth of trade last year, said Thai deputy minister of […]
Myanmar upgrades civil aviation business to boost air transport
January 12, 2015 by
YANGON, Jan. 9 (Xinhua) — Myanmar is upgrading its civil aviation business in a bid to boost the air transport sector amid growing tourist arrivals in the country year-on-year. As part of the move, it has recently corporatized Myanmar National Airlines (MNA) in operation to facilitate investment in air transportation technology and services. The corporatization […]
ADB to Loan $60 Million for Myanmar’s Electricity Network
December 18, 2013 by
YANGON — In a push to develop Myanmar’s national power grid, the Asian Development Bank (ADB) has offered a US$60 million loan to improve access to electricity in four divisions. Some 480,000 households in Yangon, Mandalay, Sagaing and Magway divisions will see access to a more reliable electricity supply through the loan, ADB said Monday. […]
