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Myanmar's market capitalization to reach $15 billion by 2020, but first it must launch its stock exchange

Details: Category: Business; Published on 11 September 2013; Written by Super User; Hits: 733

Myanmar's market capitalization could reach about $15 billion by 2020, as foreign investors enter every sector of the Southeast Asian nation. But that number, low compared to many of Myanmar's Southeast Asian neighbors, may still be too ambitious for the impoverished country, as the launch of its stock exchange is already behind schedule, and infrastructure for the majority of the country remains poor.

Central Bank eyes decrease in interest rates

Details: Category: Business; Published on 11 September 2013; Written by Super User; Hits: 925

The Central Bank of Myanmar is considering lowering Burmese interest rates to bring them in line with international borrowing and lending standards.

Currently, the Central Bank sets lending rates at 13 percent per annum while banks offer 8 percent for savings, significantly higher than Burma’s Southeast Asian neighbours where rates are generally fixed at around 2.5 percent for loans and 3 percent on savings.

Myanmar invites open tender for special economic zone in western state

Details: Category: Business; Published on 09 September 2013; Written by Super User; Hits: 915

Myanmar invited open tender for launching a special economic zone (SEZ) development plan in Kyaukphyu, western Rakhine state on Sunday, inviting international consultancy to draw up the plan for initiating the project, state radio and TV reported.

‘PACE’ appoints ‘THAI OBAYASHI’ to build ‘MahaSamutr’

Details: Category: Business; Published on 11 September 2013; Written by Super User; Hits: 875

Bangkok (11 September 2013) – PACE Development Corporation Plc, and THAI OBAYASHI CORP. LTD., one of Thailand’s leading contractors that has highest quality standards, recently signed a contract to assign the structural work of ‘MahaSamutr’ – a truly high-end villa and Hua Hin Country Club resort development that is set to become a new landmark in the resort town of Hua Hin.

South Korea to construct natural gas and waste-fired power plant

Details: Category: Business; Published on 09 September 2013; Written by Super User; Hits: 871

A South Korean company plans to invest between US$500 million to US$700 million to construct 500 Mega watts gas-fired and waste-fired power plant, according to company sources.

The state-owned Korea Western Power Corporation will implement the project in cooperation with Myanmars Hexa Group of Companies. The plant will be located in Yangon and is the first foreign investment in the electricity generating sector in line with the Foreign Investment Law.