Business

Streaming service iflix aims high in Myanmar

GIVEN that iflix has received more than 11,000 subscriptions within one week after its launch in Myanmar, the Kuala Lumpur-based streaming service provider is confident that it will be successful in the market as a pioneer, said Adeana Greenlee, iflix’s country manger for Myanmar.

Greenlee said in an exclusive interview that Myanmar’s leap in the telecommunications sector would fuel the firm’s growth in the nation.

Myanmar to privatize state-owned factories and workshops

The privatization of state-owned factories and workshops - except those which are strategically important - will occur over the next three to six months, according to the Planning and Finance Minister Kyaw Win.

Investors to get more protection under new law

An amendment to the Myanmar Companies Law is under way, and is currently in the hands of the Bill Committee, and will be discussion at the coming parliament, said Aung Naing Oo, secretary of Myanmar Investment Commission.

Number of business licenses soaring

Yangon Mayor Maung Maung Soe said the number of business licenses issued by Yangon City Development Committee has reached over 43,000, at the Yangon region parliament yesterday.

Stock exchange not ready for open market

Htay Chun, a member of the Myanmar Securities Exchange Supervisory Commission said the country is not in a position to establish an over-the-counter market for public companies which are not included on the Yangon Stock Exchange (YSX).

Inflation reaches 6.93%; highest in Rakhine, Kayah and Chin states

According to the Central Statistic Organisation (CSO), the inflation rate of Myanmar in February 2017 was 6.93 percent with highest figures being recorded in Rakhine, Kayah and Chin states.

With a base year of 2012, the inflation rate for 2017 6.93 percent untll February, and 6.97 percent until January. Year on year inflation for 2016 February and 2017 February is 7.99 percent.

The highest inflation rates in the aforementioned states was: 13.80 in Rakhine State, 9.99 in Kayah State and 9.34 percent in Chin State.

Finance bosses promise rosy future

Government financial chiefs, including the director general of the Myanmar Investment Commission (MIC) and secretary of the Directorate of Investment and Company Administration (DICA) Aung Naing Oo, have told foreign businesses that now is the time to invest in the country.

At an event at the Novotel Yangon on March 18, Finance and Planning Minister Kyaw Win said the country was on the right track to secure a stronger future for both domestic and foreign businesses.

4m containers expected by 2025

Yangon’s ports are expected to receive more than two million containers by 2020, according to the 

Trade with China exceeds $7bn

From April

Money-laundering probes stepped up: govt

The Special Investigation De