Business

Hilton to open in Mandalay

 

The Eden Group has bought the Mandalay Sedona Hotel owned by Keppel Land based in Singapore and it will be reopened as the Hilton Mandalay.

Eden, one of the Myanmar’s largest conglomerates, bought the hotel for US$41 million and will entrust Hilton to manage it. 

Trade deficit crushes forecast

 

From April 1 to August 11 of this fiscal year, there was a trade deficit of US$2.08 billion, according to the Commerce Ministry. The government had hoped to restrict the figure to US$1 billion for the whole financial year.

Foreign trade reached US$11.38 billion, up US$1.76 billion for the same period last year.

Yangon road, water and rail payment bids invited

 

Dr Maung Aung, the secretary of Yangon Region Transport Authority (YRTA), says the authorities are working to introduce the same cash payment system for the Yangon Bus Service, water taxis and circular trains.

On August 9, the YRTA invited a tender for the cash payment system for transport services and will start receiving bids applications from August 25. The 10-member bid-scrutinising committee has three regional ministers, civil servants and representatives of the private companies.

Thailand to fund Dawei SEZ road

The Thai military government says it will lend 4.5 billion baht (Ks185 billion) to Myanma

‘Chemical-free’ sesame shipped to Japan

 

Yangon Stock Exchange Expo 2017 to be held next month

 

Yangon Stock Exchange Expo 2017 will be held at Park Royal Hotel in Yangon on September 10 with the aim of developing Myanmar's capital market and attracting more businesses to invest in the stock market,

the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) says.

Tourism up by 22 per cent

 

The number of tourists to enter Myanmar in the past seven months has surpassed figures from the period last year by 22 per cent, according to the Ministry of Hotels and Tourism.

Minister Ohn Maung announced the information at a tourism development workshop.

“We have welcomed over two million visitors since January. We’re doing everything we can to improve visa applications and travelling,” he said.

State Counsellor meets chairmen of private banks

 

YANGON—State Counsellor Daw Aung San Suu Kyi met with the chairmen of private banks yesterday at her office in Nay Pyi Taw, according to the State Counsellor’s Office.

The attendees discussed banking processes, development and business affairs.

The state counsellor explained the process of securing aid from the government.

Rakhine to get country's second offshore oil-supply base

The country's second offshore base for the supply of oil and gas will be implemented on Maday Island in Rakhine State, with private investment worth 130.8 trillion kyats, according to the Myanmar Investment Commission (MIC).

Myanmar Chemical & Machinery Co Ltd has been given the green light to invest in the project, which is to be undertaken on 146.70 acres.

32 companies start commercial operations in Thilawa SEZ

A total of 87 companies from 17 countries have invested in the Thilawa Special Economic Zone Project. Thirty-two companies have begun commercial operations there, according to a press statement issued by the President’s Office.

While Zone A of the SEZ has already attracted investments, Zone B remains under construction.