Business

Star High Asia Pacific granted dredging rights in Yangon River

YANGON- The Star High Asia Pacific Company had been given a five-year green light to begin mega dredging project in Yangon River, says Myanma Port Authority.
 
While vessels requiring nine meters depth of water were allowed to pass through the Yangon River, most vessels had to wait for the rising tide as the water way gets gradually clogged up with silt.
 
Around 300 vessels enters and departs in the Yangon River daily. Myanmar Port Authorities invited the competitive tender on dredging project to facilitate travel for those vessels.

Transport and communication sector tops Yangon's FDI list

 

The total foreign investment between 1989-90 FY to 2017-18 FY hit US$ 20.276 billion in Yangon region with 854 investments, according to Myanmar Investment Commission

Myanmar likely to open more sectors to FDI

A SURGE in interest among global players following the liberalisation of Myanmar’s education sector to foreign investors has motivated the authorities to continue opening up the economy in other restricted sectors. 
Thant Sin Lwin, deputy director general at the Directorate of Investment and Company Administration (DICA), said at a press conference on Tuesday that Myanmar Investment Commission (MIC) has been keeping an eye on the latest developments in the investment scenario to decide which sector should be liberalised first.

Huawei sees “abundant” opportunities in Asia Pacific

Giventhe rapid growth of internet users at 14 per cent CAGR and e-Commerce at 32per cent CAGR, Huawei Technologies Co, a Chinese technology giant, sees abundant opportunities for internet access and cloud data centre development in the region, according to Qiu Lei, vice president of marketing and product solutions sales department at Huawei Enterprise Business Group.

Starbucks to enter Myanmar market

American coffee franchise Starbucks will invest US $ 6 million and 20 outlets, with its first outlet in Yangon according to the press brief held at the Myanmar Investment Commission (MIC) on May 15.

Muse 105 Miles Fruit wholesale market active only in morning after clashes

After the recent Muse shoot-out, trading in Muse 105 Miles Fruit wholesale market is lively only in the morning according to market sources.
“After the gunfire broke out, no buyers from China came. At present, only locals are doing business till 10:00 or 11:00 in the morning. If the trucks carrying fruits came late, it is sure for them to face losses,” said Sai Min Thu Naing from Khwa Nyo fruit shop from Muse 105 Miles Fruit wholesale market.

Crackdown on idle land in industrial zones in Yangon intensifies

Yangon Region Government has collected the list of idle lands bought with the intention of manipulating land prices in some industrial zones in Yangon, said Nilar Kyaw, Yangon Region Minister for Electricity, Industry and Transport, at the 6th regular session of Yangon Region Parliament on March 16.

Regional MP Kyaw Kyaw Maung representing East Dagon Township Constituency-2 raised a question on whether there is a plan to reform the East Dagon Industrial Zone Committee.

Stock trading at YSX up after increase in matching times

 
The average daily stock trading at Yangon Stock Exchange amounted to around Ks- 57 million, a 42-per-cent increase, after the YSX has increased stock trade matching times from two to four a day, said Min Thu, senior manager of Yangon Stock Exchange at a press conference on May 15.
 

Yangon Region Gov’t plans to develop deep seaport project and SEZ project

 

Plights rampant despite economic growth prediction