A new king has been crowned at Yangon International Airport. Global fast-food giant Burger King opened its doors in Terminal 1 on July 1 – marking its first entry into Myanmar.
Myanmar’s new government will not allow the Myanmar Investment Commission to become an independent entity, but the MIC is planning to amend its policies to relax investment restrictions and direct more capital flows into manufacturing, its secretary U Aung Naing Oo has said.
Lack of interest from Chinese buyers and a shortage of quality wares again dogged the latest Gems Emporium at Nay Pyi Taw. Ministry of Mines estimates of sales in the high millions of euros appear to be hopeful at best.
Movie-loving Myanmar is suffering from a dearth of cinemas, which local firm MAZE is hoping to remedy. The company is kicking off a K20 billion two-year project to build 100 theatres across different states and regions.
The inner workings of Myanmar’s Central Bank rarely attract much interest from international investors more focused on fresh opportunities in sectors like infrastructure and agriculture. But since the start of the year the bank has gone through fundamental changes that have left it a much more modern institution.
Taiwan-based Cathay United Bank is ready to make a third attempt to get a licence to operate in Myanmar – by offering to fund green energy projects. CUB, which opened a representative office in Yangon in 2014, says it will seek local partners in such ventures if it gets the licence.