Rumors of Foreign Investors Soon Accessing YSX Quashed

RANGOON — Foreign investors will be unable to buy shares on the Yangon Stock Exchange (YSX) as long as the Myanmar Companies Act is not amended, a senior YSX official said, dispelling rumors that shares trading would open up to foreigners this week. Earlier this week, misleading news apparently spread after Maung Maung Win, chair […]

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 […]

USDP’s Five-Year Term Sees $23b in FDI: Investment Official

RANGOON — A total of US$23 billion in foreign direct investment has been pledged over the five-year term of the Union Solidarity and Development Party (USDP) government ending in less than a month’s time, according to Aung Naing Oo of the Myanmar Investment Commission (MIC), a figure that may exaggerate the actual rise in money […]

Services Likely to Play Key Role in New Economic Plan, Experts Say

Burma’s service sector, not manufacturing, will likely be the focus of national attention after the new government is formed in March, observers predict. The country’s economy is expected to hit a lull in the post-election period, but experts say that the incoming administration will attempt to boost the service sector to keep the national economy […]

Business leaders see brighter future in NLD win

Industry insiders say they expect the NLD’s victory will lead to the easing of remaining sanctions, along with a spike in foreign investment and economic aid. RANGOON — Business leaders have welcomed the National League for Democracy’s (NLD) thumping victory in the Sunday election, saying the opposition is well poised to drive economic growth when […]

Minimum Wage – ‘The Impact Could Come Very Quickly’

On Monday the government announced an interim minimum wage proposal for a 3600 kyats (US$3.25) per eight-hour day, a middle-ground proposal after labor unions pushed for a 4000 kyats ($3.60) base rate and factory owners unwilling to proffer anything higher than 2500 kyats ($2.25). Both labor groups and employers have two weeks to lodge objections […]

Electricity Rate Hike Could Hurt Competitiveness, Raise Consumer Prices

YANGON — Last week, Parliament approved a government proposal to introduce a long-expected hike in electricity prices per April 1. Business sector representatives now warn that the measures will undercut the competiveness of Burmese industries and lead to a rise consumer prices. Under the new plan, for households using under 100 kilowatt hours, or units, […]

US Exim Bank Raises Hopes in Myanmar With Credit Offer

YANGON — Local businesses are hoping for more foreign investment in Myanmar, after the Export and Import Bank of the United States (Ex-Im Bank) began offering credit for trade with the country last week. US businesses are considering their options in Myanmar, after staying away for over a decade due to economic sanctions imposed on […]

Asia World Co. urges the Government to take back the Nay Pyi Taw Air Port

The Asia World Company, the contractor for the Nay Pyi Taw International Airport, has urged the government to scrap this project which they said will not be profitable because very few airlines fly to this administrative capital. The Airport is being financed by the loan from China’s Import and Export Bank and the Myanmar Government […]