Ooredoo Myanmar has announced the incubation programme called “Idea Box” to encourage start-up companies to bring the ICT innovation to the market.
Under the programme, Myanmar entrepreneurs will receive up to US$100,000 financial package, including seed capital, training and office space, for up to 6 months.
The assistance is designed to remove obstacles for the start-up technology firms, freeing the entrepreneurs to focus their time and energy on developing conceptual ideas into practical applications.
Friday, 6 June 2014
Dozens of New Flora, Fauna Species in Myanmar
A dragon fish with intricate, maze-like markings on every scale, a frog with rough, chocolate-colored skin and a ginger plant are among more than two dozen flora and fauna species found in Myanmar since it emerged from a half-century of military rule and isolation.
The World Wildlife Fund said Thursday the discoveries by global scientists in the last two years highlight the need to invest in conservation as the biologically diverse nation of 60 million revs up its economic engines and opens up to foreign investment.
Already, it is starting to succumb to many of the pressures felt by neighbors in Southeast Asia, from deforestation and illegal wildlife trade to mining and the development of hydropower.
The World Wildlife Fund said Thursday the discoveries by global scientists in the last two years highlight the need to invest in conservation as the biologically diverse nation of 60 million revs up its economic engines and opens up to foreign investment.
Already, it is starting to succumb to many of the pressures felt by neighbors in Southeast Asia, from deforestation and illegal wildlife trade to mining and the development of hydropower.
Local gold price dropping
The price of gold foil in Myanmar is dropping by over US$10 a tical because the supply is higher than the demand.
The gold sheet has been traded at more than US$660 early May before falling to US$650 at the month’s end.
“Within a week, gold price falls by more than Ks 10,000. As it is back-to-school season, the supply of gold is higher than the demand,” said secretary of Myanmar Gold Entrepreneurs Association Kyaw Win (from Oo Htone gold shop).
The gold sheet has been traded at more than US$660 early May before falling to US$650 at the month’s end.
“Within a week, gold price falls by more than Ks 10,000. As it is back-to-school season, the supply of gold is higher than the demand,” said secretary of Myanmar Gold Entrepreneurs Association Kyaw Win (from Oo Htone gold shop).
Myanmar reforms investment commission to boost foreign investment
YANGON, May 29 (Xinhua) -- Myanmar has reformed its investment commission as part of its efforts to draw more foreign investment into the country, local media reported Thursday.
A 13-member Myanmar Investment Commission (MIC) was re- established with Minister of Energy U Zayar Aung as chairman, replacing U Win Shein, minister of Finance, said the 7- Day Daily.
Minister of Hotels and Tourism U Htay Aung was appointed as vice Chairman of the MIC, while other members include deputy Minister of Finance Dr. Maung Maung Thein and deputy Minister of National Planning and Economic Development Daw Lei Lei Thein.
A 13-member Myanmar Investment Commission (MIC) was re- established with Minister of Energy U Zayar Aung as chairman, replacing U Win Shein, minister of Finance, said the 7- Day Daily.
Minister of Hotels and Tourism U Htay Aung was appointed as vice Chairman of the MIC, while other members include deputy Minister of Finance Dr. Maung Maung Thein and deputy Minister of National Planning and Economic Development Daw Lei Lei Thein.
Yangon to build ten new markets this year
Ten new markets will be built by the Yangon City Development Committee (YCDC) this year, according to city officials.
The markets will be located in Dagon Seikkan, Insein, Tharketa, Shwe Pyi Thar, Thingangyun, Hlaingtharyar, North Dagon and Dawpon townships.
The markets will be located in Dagon Seikkan, Insein, Tharketa, Shwe Pyi Thar, Thingangyun, Hlaingtharyar, North Dagon and Dawpon townships.
Myanmar: Risk that timber smuggling will rise after logging ban
During March and April this year almost 600 tons of illegally harvested timber was seized by authorities in Mandalay. The illegal timber was either in illicit log depots or loaded on trucks ready for transport.
Tamalan accounted for more than 500 tons of the total seized, a huge increase on the mere 50 tons seized in the same period a year before. About 400 tons of tamalan was seized during the ‟water festival‟ between 13th and 16th April. The Forest Department reported seizure of 502 tons of tamalan; 57 tons of padauk; 6 tons of teak 6 tons; 6 tons of pyinkadoe; 2 tons of red sandalwood and 13 tons of other species.
Between 29 April and 4 March over 1,000 tons of teak and non - teak hardwoods were seized by authorities across the country. The largest quantity was seized in Sagaing Division in the north says the Ministry of Environmental Conservation and Forestry (MOECAF).
Tamalan accounted for more than 500 tons of the total seized, a huge increase on the mere 50 tons seized in the same period a year before. About 400 tons of tamalan was seized during the ‟water festival‟ between 13th and 16th April. The Forest Department reported seizure of 502 tons of tamalan; 57 tons of padauk; 6 tons of teak 6 tons; 6 tons of pyinkadoe; 2 tons of red sandalwood and 13 tons of other species.
Between 29 April and 4 March over 1,000 tons of teak and non - teak hardwoods were seized by authorities across the country. The largest quantity was seized in Sagaing Division in the north says the Ministry of Environmental Conservation and Forestry (MOECAF).
Myanmar Trade Centre slated to promote exports
The government is slated to open Myanmar Trade Centre this month designed to promote the country’s exports, according to the Ministry of Commerce and Trade.
The centre, located in Yangon, will become the main venue for local and international businesses to develop new exporting opportunities for Myanmar products.
The country’s main exports include agriculture, livestock, fishery, mining, manufacturing, wood and other products.
The trade volume of Myanmar in the fiscal year 2013-2014 totalled more than US$24 billion, which the country earned more than $11 billion from exports while it spent $13 billion for imports. The trade deficit is about $3 billion.
The centre, located in Yangon, will become the main venue for local and international businesses to develop new exporting opportunities for Myanmar products.
The country’s main exports include agriculture, livestock, fishery, mining, manufacturing, wood and other products.
The trade volume of Myanmar in the fiscal year 2013-2014 totalled more than US$24 billion, which the country earned more than $11 billion from exports while it spent $13 billion for imports. The trade deficit is about $3 billion.
Leading Asia Expert Tips Myanmar to be ASEAN’s Brightest Frontier Market
In a recent article, David Clive Price draws attention to the challenges and opportunities of doing business in Myanmar. He points out that according to the latest research by the Boston Consulting Group (BCG), Myanmar is one of the fastest growing countries in ASEAN.
The Southeast Asia region has a rich population and a steadily increasing rate of GDP, says David Clive Price. Myanmar, located in the Indochina peninsula with valuable natural resources, has recently attracted many foreign direct investors, expanding its infrastructure and cooperation with its neighbors. Price cites the examples of Coca-Cola and Unilever, both of which have started to operate manufacturing facilities in Myanmar.
The Southeast Asia region has a rich population and a steadily increasing rate of GDP, says David Clive Price. Myanmar, located in the Indochina peninsula with valuable natural resources, has recently attracted many foreign direct investors, expanding its infrastructure and cooperation with its neighbors. Price cites the examples of Coca-Cola and Unilever, both of which have started to operate manufacturing facilities in Myanmar.
Ministry advocates protecting regional products
The Ministry of Science and Technology has said it will draw up laws to protect and add value to Myanmar’s regional products and specialties.
Deputy Minister Aung Kyaw Myat, from the Ministry of Science and Technology, was speaking at a geographical indication seminar on May 29, and highlighted the usefulness of protecting regional characteristics and specialties.
“Geographical indications are indications that prove to be original product of the region, and a special quality, significance or unusual characteristics of a region. Especially agricultural products have a special quality depending on fine weather and soil of the region,” said Deputy Minister Aung Kyaw.
Deputy Minister Aung Kyaw Myat, from the Ministry of Science and Technology, was speaking at a geographical indication seminar on May 29, and highlighted the usefulness of protecting regional characteristics and specialties.
“Geographical indications are indications that prove to be original product of the region, and a special quality, significance or unusual characteristics of a region. Especially agricultural products have a special quality depending on fine weather and soil of the region,” said Deputy Minister Aung Kyaw.
The motivations for spending and saving in Myanmar (and how tech is changing that)
As Myanmar opens up to the outside world and will soon get 3G cellular networks, how is the use of money and savings changing? A new report from a group that spent months studying what’s happening.
Myanmar is a country with very low formal banking penetration, but changes are afoot. It will soon have its first country-wide 3G network. Other developments include significant inward investment, the growth of a more stable, flexible financial policy, and an upcoming stock exchange, which should further stimulate domestic financial activity after it opens in 2015.
Myanmar is a country with very low formal banking penetration, but changes are afoot. It will soon have its first country-wide 3G network. Other developments include significant inward investment, the growth of a more stable, flexible financial policy, and an upcoming stock exchange, which should further stimulate domestic financial activity after it opens in 2015.
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