Myanmar car importers struggle to survive

MYANMAR car importers are fretting that auto sales will continue to drop until the end of 2017 if the government does not come up with a clear, comprehensive auto policy. Soe Tun, president of the Myanmar Automobile Manufacturers and Distributors Association and chief executive of Farmer Auto Showroom, said importers were waiting for the policy […]

As Kyat Soars, Foreign Bulls and Burmese Bears Spar on Growth

RANGOON — The Burmese kyat has been the best-performing Asian currency against the US dollar so far this year, rising over 10 percent versus the greenback since January. While this trend has excited foreign investors, Burmese analysts remain skeptical about how well the currency’s buoyancy reflects the growth prospects of the real economy. Bloomberg News […]

Kyat Value Grows in Wake of Govt Power Transfer

RANGOON — Since Burma’s democratic handover of power on April 1, the country has seen a resurgence in the value of the kyat, observers say. Not even a week after a National League for Democracy (NLD)-led government took office, the Central Bank of Myanmar on April 7 reported an exchange rate of 1,192 kyats per […]

Shares Outstanding as Public Bus Company Nears Launch

Burma’s first public bus company, which is expected to launch routes in Rangoon late this month, has so far raised 3.8 billion kyats (US$2.9 million) in a sale of shares to fund the first phase of the transportation service, according to an official. The project will introduce a Bus Rapid Transit (BRT) system to Rangoon, […]

After a Long Wait, Commuter Tram May Finally Reach Rangoon

An electric commuter tram is set to launch on Jan. 10, Myanmar Railways announced on Wednesday, after months of delays left passengers weary of waiting. The 150-passenger line, originally set to launch in October but set back by infrastructure delays, was envisioned by the company in a US$3.6 million collaboration with Japanese West Corporation as […]

Burma’s Skills Sector in the Spotlight

RANGOON — Sources in domestic business circles have welcomed a recent call for British companies to consider investing in Burma’s skills sector, with the UK Trade and Investment (UKTI) office saying a dearth of qualified workers could be remedied, in part, by British education and training enterprises. According to a UN-backed business survey last year, […]

Rangoon Govt Invites Private Investment in Public Bus Company

RANGOON — The Rangoon Division government on Monday launched an initiative to set up a US$25 million public bus service company that would improve major bus lines in Rangoon, Burma’s biggest city. On Tuesday, an official said they had already received pledges for more than half of $15 million in private funding shares required for […]

Priority items chosen for National Export Strategy

In developing the country’s trade sector through an export-led growth model, six products and one service have been chosen as priorities for Myanmar’s National Export Strategy, according to the national consultant responsible for the strategy. “The priority export items have been chosen based on two criteria. One is its potential given the current trading situation, […]

Myanmar FDI jumped by 50% last year

U Aung Naing Oo also said that investment in the telecom and hotel industries is set to surge this year. Food processing and the garment industries took the lion’s share of the slightly more than US$400 million in FDI in the manufacturing industry last fiscal year, with most of this coming from Singapore, China, Hong […]