4 ways to boost e-commerce in Myanmar

e-Commerce industry growth will need banks and telcos to reduce service fees, provide better APIs, and simplify procedures to eliminate the hassle of payments Since 2012, foreign investors have been on a gold rush in Myanmar. GDP has climbed up steadily from US$58.68 billion in 2013, to US$64.33 billion in 2014, then US$64.87 billion in 2015. In July 2016, the new […]

Solving the Yangon housing shortage

Amid estimates that Yangon’s population of 7 million-plus will move into double-digits in the next 10 to 20 years, what is being done to solve the commercial capital’s housing crisis? The problem is exacerbated by the slow pace of economic and social development, which keeps incomes down. Yangon, home to 7.3 million people, according to […]

Jade and Redwood Traders Struggle in China

China’s jade and redwood traders are seeking to diversify their business as domestic demand drops and the Myanmar’s new government tightening its grip over natural resources. “The sales of high-end gemstones have been tepid the last two years,” Kyaw Win Khaing, a Chinese-born Myanmar national who has been selling Myanmar jade in Ruili, Yunnan Province, […]

Myanmar Cosmetics Association expresses doubts over industry future

Although the Myanmar government has made steps towards growing domestic beauty businesses, the country’s cosmetics body says measures need to be stepped up to protect domestic players. The Myanmar Cosmetics Association (MCA) has recently made an official request to the Myanmar Investment Commission to put the industry on its radar and start both protecting and […]

MPs call for effective tax collection reform

MEMBERS of parliament stressed the need for reforming taxes in order to foster the country’s current social and economic reforms while debating the Joint Public Accounts Committee’s report on the tax collection target for the second six months of this fiscal year during a session of the Pyidaungsu Hluttaw yesterday. Dr Thet Thet Khine of […]

Myanmar transport woes a $60 billion muddle

Fixing Myanmar’s transport woes may cost up to US$60 billion but inaction could be far more expensive, according to a new report. An analysis into Myanmar’s transport landscape by the Asian Development Bank (ADB) shows a country experiencing both crisis and opportunity. “Transport Sector Policy Notes” opens bluntly, “Due to massive underinvestment and neglect in […]

Myanmar urged to address electricity loss

Myanmar’s electricity authorities need to pay more attention to transmission line maintenance to reduce frequent blackouts, experts said last week. “Technical losses need to be urgently addressed and 100-per- cent electrification is crucial to the nation’s growth,” said Andrew Lee, manager of General Electric Myanmar. Electricity would help Myanmar move forward, but frequent blackouts due […]

Myanmar gem firms say $138m ‘missing’ from industry fund

YANGON (AFP) – An embezzlement probe has been launched after nearly US$100 million (S$138 million) vanished from a fund set up by Myanmar’s gem companies, a trade body said on Thursday (June 2), raising corruption fears in an industry notorious for its shady dealings. Mining – especially for jade – was firmly in the hands […]

Floods, political change hamper Myanmar growth: World Bank

Myanmar’s growth rate, once one of the world’s most impressive, has dipped following heavy floods and an investment slowdown sparked by uncertainty over its political transition, the World Bank said on Tuesday (May 31). YANGON: Myanmar’s growth rate, once one of the world’s most impressive, has dipped following heavy floods and an investment slowdown sparked […]

Myanmar’s economy opens doors to big brands

From fast food giants to coffee chains, tobacco companies and garment makers, Myanmar’s emerging economy is opening up to the world’s biggest brands It is just after 2pm at the newly built Pizza Hut on Yangon’s Dhammazedi Road. Clusters of staff throng around the entrance and waiters’ station as businessman Sein Min, who also goes […]