Aye Myat

Ministers endorse plans to develop new special economic zones in Mekong

Government ministers and senior officials attending the Greater Mekong Subregion (GMS) Seventh Economic Corridors Forum last week agreed on measures to promote the development of economic corridors, facilitate cross-border transport and trade, and enhance cooperation and private sector participation. The GMS includes the six countries sharing the Mekong River: Cambodia,… Read more »

Singapore Windsor secures Europcar’s Myanmar franchise deal

Singapore Windsor Holdings Limited said that its wholly-owned subsidiary, SMI Auto Services Pte Ltd, has been appointed the sole country franchisee in Myanmar by the French car rental farm Europcar. The franchise agreement will be valid for five years, and is renewable for a further five years upon mutual agreement… Read more »

Starwood Hotels to enter Myanmar with Sheraton Yangon

Starwood Hotels & Resorts Worldwide Inc said it has debuted in Myanmar market with the signing of Sheraton Yangon Hotel, a new build property in the country’s commercial hub. Located in the Tamwe township, near Kandawgyi Lake, the Sheraton Yangon Hotel will feature 375 rooms. Other property offerings will include… Read more »

Hong Kong firm increases Myanmar manufacturing entity ownership to 75%

Hong Kong-based Highway Holdings Limited announced that it has purchased an additional 50 per cent ownership interest in a Myanmar entity that operates a manufacturing and assembly factory. Previously, the company utilised the 15,000-square-feet factory for more than two years under a subcontracting arrangement. Highway Holdings held a 25 per… Read more »

UOB finances new power plant in Yangon

United Overseas Bank (UOB) has inked a financing agreement with Singapore-based firm Royal GK Private Limited for a power plant in Yangon, the Singaporean lender said. Royal GK, an engineering procurement and construction company, was commissioned by the Myanmar Central Power Co (MCPC) to procure gas engines for the construction… Read more »

Vintage buys stake in Myanmar solar plant firm

Thailand-based Vintage Engineering said it has acquired a stake in a company that is expected to build a 220-megawatts (MW) solar power plant in Myanmar. The company’s board has approved the acquisition of 12 percent of shares in Green Earth Power (Thailand) for $20.28 million, according to Thai media reports…. Read more »

London summit focuses on Myanmar’s investment opportunities

The recently-emerging investment opportunities in Myanmar against a backdrop of ambitious reforms and strong economic growth were highlighted at a business summit held recently in London. Titled “Promoting economic reform in Myanmar – Why responsible British business is good for Myanmar”, the conference was attended by over 100 representatives from… Read more »

Vietnam to build vessels in $175m deal with Mynama Shipyards

Myanmar and Vietnam have signed an agreement to establish a joint venture to build vessels, according to the Ministry of Transport. The $175.4-million joint venture was established between state-run Myanma Shipyards and Dong A Shipbuilding Joint Stock Company. Mynama Shipyards will control 51 percent stake in the JV, while with… Read more »

Thonburi to invest $100m in hospital construction

Thailand’s Thonburi Hospital Group (THG) said it expects to sign a memorandum of understanding with local firm Ga Mone Pwint to construct two hospitals in Myanmar. Dr Boon Vanasin, owner of Thonburi Group, said THG will invest $ 100 million and expects to take a 40 per cent stake in… Read more »

Myanmar SMEs to get $50m loans from Singapore, Vietnam

Myanmar will receive $50 million in loans from Vietnam and Singapore, to be distributed to small and medium enterprises (SMEs) by the Small and Medium Industrial Development Bank, authorities said. Starting in April 2015, the Small and Medium Industrial Development Bank will dish out $30 million from Vietnam and $20… Read more »