JICA dismisses accusations of negligence

The Japan International Cooperation Agency (JICA) has rejected allegations that it betrayed its own guidelines on “environmental and social considerations” in the Thilawa Special Economic Zone (SEZ), in which it has a 10 percent equity stake. The charges were levelled by residents of the Myaing Thar Yar resettlement village, home to 68 families displaced by […]

Slow entry of foreign banks hinders small and medium enterprises

As foreign banks are not yet permitted to offer full services in Myanmar and confined to run representative offices, local small and medium enterprises are facing hardship. Some of the SME businessmen said that they have to brace for more expenses and time in running their businesses, including money transactions with foreign countries, and that […]

Japan firm to hold global markets seminar in Yangon

Japan’s Mizuho Financial Group is to hold a Global Finance Market and Treasury Business Seminar at the Yangon Institute of Economics on March 8 and 10, the group’s chief representative Tetsuro Nonaka has announced. “We want to share our experience. Although the global market has not yet come to Myanmar, it can develop in the […]

JICA to Help Gov’t Modernise Customs Dept

The Myanmar Customs Department under the Ministry of Finance and Japan International Cooperation Agency (JICA) are going to implement a technical cooperation project in a bid to modernise Myanmar’s customs and introduce an automated cargo clearance system. With an expected rise in trade volume in near future, Myanmar Customs is trying to upgrade its decades-old […]

Foreign bank licences likely to be named by July

The Central Bank of Myanmar (CBM) will likely name the first group of foreign banks to be given independent operating licences by July as they prepare to bring in financing experts to narrow down the selection, a Central Bank official said. A deputy governor of the Bank, who requested not to be named as they […]

JICA onboard to help modernise banking systems

A new payment system to facilitate international business transactions could be in use in 2017, the Japan International Cooperation Agency (JICA) announced last week. Central Bank deputy governor U Set Aung and JICA Myanmar’s chief representative Tanaka Masahiko signed the agreement to modernise the funds payment and securities settlement systems on February 4. “We have […]