Select Page

Myanmar Highlights

Apex Bank Limited to provide uncollateralized loans to SMEs

Apex Bank Limited to provide uncollateralized loans to SMEs

Myanmar’s Apex Bank Limited (“MAB”) has announced it will provide uncollateralized loans to Myanmar’s small and medium sized businesses (“SMEs”). The lending programme is being implemented in cooperation with German state-owned development bank KfW (formerly KfW Bankengruppe). Loan amounts will be based solely on companies’ income and expenditure and have an interest rate of 8.5%.

read more
China Communications Construction Company and New Yangon Development Company in talks to develop New Yangon City project

China Communications Construction Company and New Yangon Development Company in talks to develop New Yangon City project

The Myanmar Government-owned New Yangon Development Co. Limited (“NYDC”) and the HKEX-listed China Communications Construction Company (“CCCC”) are in advanced negotiations in respect to the New Yangon City Development Project (“Project”). NYDC and CCCC are currently in the process of preparing pre-project documentation (“PPD”). The Project will cover an area twice the size of Singapore. Phase 1 of the Project’s development is expected to cost approximately US$1.5 billion (Kyats 2.83 trillion) and will include the development of five township villages, two bridges giving access to the new city, …

read more
Mineral Development Bank to provide loans to gem and mineral SMEs

Mineral Development Bank to provide loans to gem and mineral SMEs

The Central Bank of Myanmar (“CBM”) has approved the establishment of the Mineral Development Bank (“MDB”) to provide banking services to small and medium size enterprises (“SMEs”) in the gems and mineral sector. Speaking at the opening ceremony U Ohn Win, Minister for Natural Resources and Environmental Conservation said “The MDB was established to provide loans for developing technologies in the extraction of gems and minerals and production of finished products”.

read more
Growth in Myanmar mining industry expected on the back of increased investment

Growth in Myanmar mining industry expected on the back of increased investment

Myanmar’s mining industry is expected to grow in 2019 following an increase in both foreign and domestic investment in the sector. According to U Than Soe, deputy permanent secretary of the Ministry of Natural Resources and Environmental Conservation (“MONREC”), it is anticipated additional permits for small-scale mining will be issued over the next twelve months. The Government has granted new approvals to local and foreign investments pursuant to the new Myanmar Mining Rule (“Mining Rules”) introduced in February 2018.

read more