Myanmar has signed a concession agreement with a consortium of private developers, including Italian-Thai Development (ITD) Public Company, for the Dawei special economic zone (SEZ) almost two years after ITD withdrew from the project citing financial difficulties.
International hotel chain Hilton Worldwide is preparing to sign a deal with local conglomerate Crown Advanced Construction to operate a hotel in central Yangon, a director at the Myanmar firm told The Myanmar Times.
The Myanmar Rice Federation has agreed with traders to suspend rice exports until September as more than 500,000 acres of paddy fields are flooded nationwide, leading to a sharp rise in prices over the past few days.
The backers of the Yangon Stock Exchange are putting together a crash course to introduce it to the public. Dr Maung Maung Thein, chair of the Securities and Exchange Commission of Myanmar, said in the coming months, various stakeholders will be given a look at how the systems behind the exchange work.
Fujiyama Printing Press would like to grow. The firm sees an opportunity to muscle in to the business of printing daily newspapers, with what it claims is a clear business case and interested customers lined up.
In rapidly expanding Yangon, business activity has remained largely focused in the city’s southern central area. The downtown is now stuffed with shops, traffic and offices, though authorities’ plans to relieve the pressure have so far been stymied as they await approval for a large business development.
Credit guarantee insurance services for small and medium-sized enterprises (SMEs) have been available in Myanmar for more than a year, but so far nobody has taken advantage of them, said Dr Maung Maung Thein, deputy minister for finance, at the 1st Myanmar Financial Inclusion Conference in Yangon on August 2.