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 […]

Myanmar suspends granting of foreign insurers’ licenses in SEZs

YANGON, July 22 (Xinhua) — The Myanmar Insurance Business Supervisory Board has suspended granting licenses for foreign insurers to operate in Myanmar’s special economic zones for one year, official media reported Wednesday. The further licenses will be granted starting next year and three Japanese insurers have so far been allowed to operate in the country’s […]

OCBC plans to up capital in 3 years

Opening its branch on Thursday, Singapore’s Oversea-Chinese Banking Corp (OCBC) sees the possibility that the branch’s capital would be raised within three years. On the first day of operations, over 10 accounts were opened. OCBC is the second to open a branch in the country, after the Bank of Tokyo-Mitsubishi UFJ which opened its door […]

Myanmar’s balancing act

Readers that are listening carefully will realise that, nowadays, most of the buzz behind Southeast Asian investment involves Myanmar. Many foreign companies are looking to put roots down in Myanmar and have been sending representatives there to scout out its business landscape. Despite the lucrative long-term potential for profit, foreign companies should be aware that […]

Foreign insurance firms to be allowed into SEZs

Foreign insurers will be allowed into Special Economic Zones in January, though the exact rules governing their operations are still being discussed, said deputy finance minister U Maung Maung Thein. Companies will be selected based on their adherence to international standards, as well as their responsibility in social affairs, and will be required to have […]