Business

Govt must build capacity to attract responsible businesses: MCRB

Myanmar Eleven

Asia News Network

Yangon

Myanmar’s aim to become Asia’s last frontier may not be realised if the government fails to urgently address the challenges it faces in promoting responsible businesses, according to Vicky Bowman, director of Myanmar Centre for Responsible Business.

Aust firms urged to invest in Myanmar

MYANMAR ELEVEN

ASIA NEWS NETWORK

YANGON

THOUGH Australian businesses are still cautious about doing business in Myanmar, they should not hesitate to enter the country, as both governments are committed to supporting bilateral economic ties, according to an Australian diplomat.

CHD bank lends Ks80bn to developers

Construction and Housing Development (CHD) Bank has lent Ks80 billion to developers who need financial aid, said managing director Myint Myint Mu of banking and finance department at the CHD on May 13.

Yangon 5-star room occupancy declines

There are about 3,800 four- and five-star hotels rooms in Yangon with occupancy rates falling by 5 per cent since this time last year, according to Colliers International.

Uber joins the fray in Myanmar taxi battle

IN A BID to play a role in Myanmar’s transportation reforms, Uber Technologies Inc, a US ride-hailing company, has officially launched its services in Myanmar.

Present at the launch on Thursday were such dignitaries as Yangon Region Chief Minister Phyo Min Thein and US Ambassador Scot Marciel.

Phyo Min Thein said he had invited international ride-hailing companies including Uber that could provide safer rides and better services to passengers in the region.

Illegal Chinese rice purchases continue: ministry

Chinese companies or individual traders are forbidden from buying rice stocks in Myanmar and will be prosecuted if they are caught, according to the Ministry of Commerce.

Chinese merchants are going directly to areas where rice is abundant, such as Yangon, Bago and Ayeyarwady regions, according to chairman of Myanmar Rice Federation Chit Khine. He said it was an increasingly serious issue and needed to be addressed. 

Chinese motorbike imports boom

The legal imports of motorcycles from China through the Muse 105th 

Brown rice prices unstable

The price of brown rice has been unsteady in the domestic market, according to 

Property market set for rebound

The sluggish property

Siemens, MMH join hands for port operations

Myanmar Eleven/Asia News Network

Yangon

Siemens, a global powerhouse focusing on the areas of electrification, automation and digitalisation, plans to expand its business in Myanmar by providing Myanmar’s ports with technology and solutions in cooperation with a local counterpart, Myanmar Mahar Htun Co (MMH), according to Christian Beckers, head of business development at Siemens Myanmar and Cambodia.