Myanmar aims to reduce poverty level by 10%

YANGON: Myanmar aims to reduce its poverty level by an ambitious 10 per cent to 16 per cent by next year. Myanmar’s Vice President Nyan Tun made the announcement to some 8,000 workers at a rural development event in Yangon. Earning just US$2 a day is common for many in Myanmar, and the government wants […]

Central Bank notes caution on foreign banks

Central Bank of Myanmar vice governor U Set Aung appeared to back off a previously discussed timetable to allow foreign banks in to operate in Myanmar, declining to confirm plans to allow foreign banks to begin operations in 2014. Foreign banks will be allowed to offer services in Myanmar eventually but the timeline is still […]

Myanmar, Germany See Stronger Economic, Cultural Cooperation

Myanmar and Germany saw fortified economic and cultural cooperation between the two countries in 2013 encouraged by German Foreign Minister Guido Westerwelles’ visit to Myanmar in 2012. During 2013, the German Chambers of Commerce and Industry (GCCI) signed an agreement with its Myanmar counterpart, the Union of Myanmar Federation of Chambers of Commerce and Industry […]