Weekly Business News from Myanmar

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  Southeast Asia's largest 220 megawatt (MW) solar project to be constructed in Minbu in Magway Region of Myanmar

  Myanmar is to host a series of flagship solar projects, following a number of contract awards in recent weeks, industry websitebusinessgreen.com reported on 13 October.
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  Surging demand due to destruction of paddy fields during recent flooding causes a record spike in rice prices in Myanmar

  Surging demand following thewidespread destruction of paddy fields during the recent flooding has forced a record spike in prices, say the Myanmar Rice Federation and local paddy and rice traders in Nay Pyi Taw.
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  The Yangon Stock Exchange to begin trading in early December : Myanmar's Deputy Finance Minister

  The stock exchange was originally expected to open this month, but that was postponed until after national elections set for 8 November. Despite the political uncertainty, the deputy finance minister said he is confident the launch of the stock exchange won’t be derailed.
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  Trade in Myanmar could be affected this year by China's slowdown

  China is a major trading partner for Myanmar – bilateral trade with the world’s second-largest economy accounts for over 50 percent of total trade, according to Ministry of Commerce data. Changyong Rhee, director of the Asia and Pacific Department at the International Monetary Fund (IMF), said growth across ASEAN will moderate in 2015 to 4.6pc, rising slightly to 5.0pc in 2016.
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  Thailand's Bumrungrad Hospital obtains a licence to set up a subsidiary in Myanmar

  The new company – Bumrungrad Myanmar – has a registered capital of US$1.33 million and will offer private clinic and diagnostic services. It was approved by the Myanmar Investment Commission (MIC) last month, the company said in a filing to the Stock Exchange of Thailand.
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  Foreign joint venture companies will be able to invest in the Yangon Stock Exchange when an update of the Myanmar Company Law is finished : Myanmar's Deputy Minister for Finance

  Foreign joint venture companies will be able to invest in the Yangon Stock Exchange when an update of the Myanmar Company Law is finished, said Dr Maung Maung Thein, deputy minister for finance.
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  Vietnam's biggest partly private lender by assets BIDV to be prioritized in the next issue of banking licences by Myanmar

  Vietnam’s biggest partly private lender by assets, said it would be prioritised in the next issue of banking licences by Myanmar, citing comments by the country’s president during a meeting with the bank’s chairman.
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  The Yangon Stock Exchange risks opening under US sanctions

  Myanmar's first modern stock exchange risks falling under sanctions by the US Treasury when it eventually launches this year. The Yangon Stock Exchange is not designated specifically by the Department of Treasury’s Office of Foreign Assets Control (OFAC). However US officials have clarified that under US law it would be automatically sanctioned, as it is 51 percent owned by Myanma Economic Bank (MEB), a state entity under US sanctions.
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  Entrance rules for Yangon Stock Exchange published

  Publicly owned companies which want to float on the Yangon Stock Exchange have to provide evidence of business profits for two years before the application, the Myanmar Exchange Certificate Supervision Board has announced.
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  Three companies submit tenders for Yangon New City Project

  YANGON—Three companies, including ShwePopa International Construction Co Ltd, a subsidiary of Shwe Than Lwin Co, submitted tender bids for Yangon New City Project. An opening ceremony for the preliminary tender for the project was held at the Yangon Region Government Committee Office on September 22 under the supervision of the Yangon Region Minister for Forests and Energy.