The World Bank Group (WBG) and Myanmar government have agreed to a two-year extension of the Country Partnership Framework (CPF) with up to US$1.2 billion in financing, according to a press statement from the World Bank on June 23, 2017. The focus would be on...
Read MoreAll public buses built in or before 1995 are to be handed over to the Road Transport Administration Department (RTAD) and purchases of Compressed Natural Gas (CNG) will be prohibited from June 30, all, according to bus owners. The regional government plans to phase out the...
Read MorePartnership with World Bank Group Extended to Benefit More Poor People WASHINGTON, DC, June 23, 2017— Myanmar will strengthen its programs and reforms that will promote growth in rural areas, invest in basic social services to provide better nutrition, health and education services, build infrastructure and...
Read MoreWhen the Condominium Law was enacted in early 2016, many hoped it would provide a framework that could spur development in the sector, not least by permitting foreign ownership. But the law has not helped the dormant condominium market; instead, it has only fuelled uncertainty,...
Read MoreForeigners can now trade in Construction Materials, Hospital Equipment, Fertilizers, Seeds and Pesticides without having to JV with Myanmar citizens Under Ministry of Commerce Notification 36/2017 foreign-owned companies can now trade, import, wholesale and retail the following items: 1. Construction Materials 2. Hospital Equipment 3. Fertilizers 4. Seeds 5. Pesticides Previously only...
Read MoreA new project financed by the World Bank aims to bolster Myanmar’s capacity to respond to disaster risks. According to the World Bank, when food prices peak due to disasters, and assets are lost, the poor and vulnerable feel the most pressure. Photo - Supplied The Myanmar...
Read MoreA New World Bank report has urged the government to finalise the statutory framework of the accounting and auditing sector and relax restrictions on foreign accountants and auditors to practice in the country. The Report on the Observance of Standards and Codes – Accounting and Auditing...
Read MoreThe Myanmar Construction Entrepreneur Association (MCEA), in cooperation with the government, will start building affordable housing units for low-income earners within this year, a senior association official from the organisation said. “The government and the MCEA will start constructing affordable housings – namely public housings and...
Read MoreThe Yangon Region government would be implementing a new scheme under which taxis would be managed by taxi service operators, said Daw Nilar Kyaw, regional minister of electricity, industry and transportation, in a bid to ease traffic congestion in the country’s commercial capital. Although Grab and...
Read MoreThe Myanmar government urged EU companies to invest in the country’s energy sector as industry insiders noted that gas exploration is one of the biggest opportunities in the power-hungry Southeast Asian country. Xavier Preel, general manager of Total E&P Myanmar, said energy and infrastructure are the...
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