CB Bank chair to open industrial zone

The chair of one of Myanmar’s largest banks is turning his hand to a new sector, with a plan to open Taungoo township’s first industrial zone, which he hopes will entice hundreds of thousands of migrant workers back to the area. Chair of Co-operative Bank U Khin Maung Aye also chairs the Kaung Myanmar Aung […]

Ford opens showroom in the second city

Ford vehicles are now on sale in Mandalay, as the automaker has opened a showroom and service centre in the country’s second-largest city, according to a press statement yesterday. The Dearborn, United States-based automaker opened its first Myanmar showroom in Yangon two years ago, partnering with Capital Automotive, a part of local conglomerate Capital Diamond […]

Over US$9 billion worth of goods imported this year

More than US9 billion worth of goods has been imported this fiscal year (FY) including automobiles and the volume is more than US$2 billion than last year, according to the Ministry of Commerce. From April 1 to October 24 of 2014-2015 FY, total volume of imports including cars was US$9295.681 million. During the same period […]

Myanmar’s trade volume nearly hit US$16bn

Myanmar’s total trade volume has nearly hit US$16 billion in the first nine months of fiscal year 2013-14, according to the Ministry of Commerce. The trade volume reached US$15.92 billion between April 1 and December 6, which is US$3.65 billion up from the same period last year. The government has targeted US$25 billion for the […]

Strict Lending Rules Limit Growth of Hire Purchase in Myanmar

Hire purchase is failing to catch on in Burma due to strict Central Bank rules limiting the length of credit agreements and demanding large amounts of paperwork from consumers, observers said this week. After private banks began to prosper in the country once again in 2010, there were signs a hire purchase market would take […]