Sunday, September 25, 2016
The Myanmar Times
The Myanmar Times

Insurance market will be open to foreign firms in 2017: ministry

The government is planning to open Myanmar’s struggling insurance industry to foreign firms early next year and free local players from an array of restrictions – part of a coordinated push to speed up liberalisation in a sector crucial to economic development, a senior government official told The Myanmar Times.

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Water express tender imminent

The Yangon Region government will call a tender before the end of this month for private companies interested in providing river transport services, U Maung Aung, secretary of the Yangon Region Transport Authority (YRTA), said.

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Power plant tender winner to be announced next week

The Ministry of Electricity and Energy will announce the winners of a tender to build a 300-megawatt power plant in Yangon next week, ministry officials said.

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Government warning sent to bus operators over increased fares

The Yangon Supervisory Committee for Motor Vehicles says it intends to issue a warning to bus companies against overcharging after receiving a number of customer complaints of fare-gouging among private operators.

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Government goes after old gold debt from mining firms

Gold mining companies that have failed to hand over an agreed portion of their gold finds to the government are to be sued by the authorities.

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USAID backs MFIs with $10m guarantee

USAID kicked off a seven-year program to guarantee over US$10 million in microfinance loans to the agricultural sector yesterday, as part of a new US effort to offer greater economic support to the country.

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Bankers ‘satisfied’ with first Treasury auction

The government held a successful inaugural Treasury bond auction yesterday, selling K120 billion to three private commercial banks and another K80 billion to a state-owned lender.

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Opportunties abound in farming sector but still many hurdles to clear: experts

Agriculture accounts for almost one-third of Myanmar’s GDP and growth in the sector is key to the country’s economic development. But decades of mismanagement mean providing the necessary infrastructure, financing and organisational reform will be a herculean task, according to international and local experts.

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Ministry denies ban on new hotel developments

The Ministry of Hotels and Tourism yesterday dismissed a local news report that it had instructed some key regional governments to stop the development of any new hotels.

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Government eyes K200 billion for first Treasury bond auction

The government will hold the country’s first-ever Treasury bond auction today as it seeks to start covering more of its budget deficit by selling debt to local investors.

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