IFC: Myanmar should go solar
Solar can help Myanmar fill its electricity shortage and reduce the cost of power, the International Finance Corporation (IFC) argued in a recent report. The IFC (which is the private sector financing arm of the World Bank Group) claimed that investi
Myanmar legalizes foreign remittances
Independent cash remittance services can now receive official licenses to transfer money between Myanmar and other countries. The Central Bank of Myanmar will issue the licenses mainly to overseas employment agencies. Myanmar people have been able to
Embassy quashes rumors of Korean exodus
The Embassy of the Republic of Korea has officially denied rumors of a mass exodus of Korean businesses from Myanmar. The embassy issued a statement that emphasized South Korea’s commitment to investing in Myanmar. It also claimed that it had not h
Rumors of Korean business pullout false
A rumor that around 100 Korean businesses will leave Myanmar for Bangladesh is false, said U Thant Sin Lwin, Secretary of the Myanmar Investment Commission (MIC). Speaking to the Myanmar Times, U Thant Sin Lwin dismissed recent reports in Bangladesh
Watermelon prices drop as Chinese demand falls
The price of watermelons, a main agricultural export, has dropped due to low demand from China. It is not the first agricultural export to suffer due to the fickle Chinese market, and may encourage farmers to improve growing standards to access buyer
