Business

Latest Oredoo marketing programme under fire

The Myanmar branch of the Qatar-based telecom giant’s Oredoo have been receiving heavy criticism for their latest marketing programme.

Oredoo Myanmar’s latest program, dubbed “Khu Phyay Khu Htaw” – which translates into “Answer now, get rich now”, have also earned a direct order from the Ministry of Transport and Communication to stop the aforementioned programme until further notice the program was illegal; neither there was state permission nor the authorities were informed in advance.

Export revenue down for mineral products, furnished materials

Export incomes from mineral products and furnished industrial materials are lower than the income in previous fiscal years when compared to the same period last year, and this year according to the commerce ministry.

From the April 1 through June 15 of this fiscal year, more than US$91 million was less than the amount of last fiscal year for mineral products, and at least $255.5 million was less than the amount of furnished industrial materials of the last fiscal year.

Myanma Apex’s e-wallet scheme to go nationwide

Myanma Apex Bank, the nation’s first bank to offer an e-wallet service, has set its sights on expanding the service across the country in three months, banking on the high mobile phone penetration rate.
 
Managing director Win Min Khine said mobile banking was developed as an agent-based model where customers can open their own mobile wallet accounts at any agent's outlets without going to the bank.

Bosch eyes 18-70 per cent growth in Myanmar on rising demand for auto after-market products

BOSCH GROUP, a global supplier of technology and services, has set its sights on growing its business in Myanmar by 18-70 per cent a year, banking on continued high demand for automotive aftermarket products.
 
The German company made its presence felt in Myanmar in 2013.
 

Government to put 47 state-owned factories for lease

 

The Ministry of Industry has announced that the remaining 47 state-owned factories will be put up for lease for local and foreign private investors.

According to Deputy Secretary Myo Zarni Win, those interested in leasing the factories can find details on locations and staff at the ministry’s website, while further details can be discussed at relevant departments under the ministry.

Official trade website launched

The Ministry of Commerce has opened a trade website to ease Asean-wide business exchanges.

A ministry official said: “This website aims to ensure entrepreneurs can easily understand trade information and help support the smooth functioning of business. Since 2014, USAid has sent technical experts and our officials have visited USAid. It has provided funds of US$500,000 for the project.”

The website should enable traders to comply with Asean's trade agreements and provide details of the country's business laws.

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