Some small and medium-sized enterprises (SME) have started suffering from the effects of coronavirus outbreak, business owners say.  “It has already affected the country’s economy very much. Especially, hotels. As they have lost customers, they have no money to pay for their employees’ salaries. Restaurants and shops are facing difficulties also. Many SME businesses..

  U Thaung Tun, Union Minister for Investment and Foreign Economic Relations (MIFER) and Chair of Working Committee to Address the Possible Impacts of COVID-19 on the Country’s Economy had separately met with Gevorg Sargsyan, Acting Country Director of the World Bank Myanmar and Newin Sinsiri, Asian Development Bank (ADB) Country Director, March 23, Nay Pyi..

  The International Development Association (IDA), which is a part of the World Bank, will lend US$100million (K140.1 trillion to Myanmar to promote the basic education sector, the World Bank announced on March 3. According to the World Bank, Myanmar will use the funding for a plan to promote inclusive access to quality education over..

The Ministry of Electricity and Energy (MOEE) has signed an agreement to purchase electricity generated by the 135 MW gas-fired Kyaukphyu Power Plant that will be built by independent power producer Kyauk Phyu Electric Power Co. According to a statement from the MOEE, the power purchase agreement (PPA) was signed last Tuesday. Kyauk Phyu Electric..

Photo - EPA   Ships without a Vessel Monitoring System (VMS) will be banned from going to the sea to fish officials from the Yangon Region Fisheries Department announced. The government had provided a two-month grace period from September 1 to October 30, to install the equipment, and is now extending the period to the..

Visitors arrive at Yangon International Airport. Shin Moe Myint/The Myanmar Times   The government has approved the upgrade of a local airport in Thandwe, Rakhine State to international status, said U Kyaw Aye Thein, Rakhine State Planning and Finance Minister.    The decision was made at the Union level after the Rakhine State Government submitted..

A darkened area of Yangon during a power outage. Photo - EPA   Myanmar can produce about 200 more megawatts of electricity than estimated in fiscal year 2018-2019, said U Maung Maung Win, deputy minister of the Ministry of Planning and Finance.   He made the comment while discussing the Joint Public Accounts Committee report on..

Myanmar Citizens Bank is listed on the Yangon Stock Exchange. Photo: The Myanmar Times   Yangon-listed Myanmar Citizens Bank (MCB) inked an agreement with the International Finance Corporation (IFC) to increase access to finance for small businesses and individuals.   The IFC will provide advice to the public lender to transform and modernise its business..

Over 110 enterprises, including four domestic businesses, enter the Special Economic Zones in Yangon.PHOTO : NAY LIN   MORE than 110 enterprises, including four domestic businesses, invested US$208 billion in the Special Economic Zones (SEZs), under the Special Economic Zone Law, as of 10 July in the current fiscal year, according to figures released by..

State Counsellor Daw Aung San Suu Kyi (centre) at the donation ceremony in Nay Pyi Taw on October 20. Photo – AP The country’s main business organisation on Saturday formed teams to support the implementation of the K17.7 billion (US$13 million) economic projects in the violence-prone Rakhine state. The Union of Federation of Chambers of Commerce..