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New policies unavoidable if Myanmar is to keep up in AEC

With just three months remaining before it is due to join the Asean Economic Community (AEC), time is running out for Myanmar to improve its economic policies and prepare local businesses for foreign competition. By January 1, 2019, Myanmar, together with the other CMLV countries, which includes Cambodia, Laos and Vietnam, will officially be part […]

SMEs need more funding, support system to expand further

Efforts to support small and medium enterprises (SMEs) over the past three years have so far not been sufficient to generate meaningful growth for the economy, experts said. While a higher volume of loans were dished out by state-owned and local banks, only a few SMEs have successfully expanded their operations in the past three […]

SMEs voice frustration over confusing government policies as challenges mount

Small and medium enterprises (SMEs) are still struggling to compete and expand five years after U Thein Sein’s former government established a central committee to support the sector and after the Central Bank of Myanmar recently permitted banks to approve loans without collaterals. On top of limited access to capital, insufficient supporting infrastructure, high taxes […]

More SMEs Tap Myanmar’s Potential

SINGAPORE’s small- and medium-sized enterprises (SMEs) are increasingly seeing the potential of the Myanmar market, with more local companies venturing out into the country. Singapore was the second largest investor in Myanmar as of 2016, with a cumulative investment of US$15.6 billion (S$21.2 billion), according to figures collated by the Myanmar Directorate of Investment and Company Administration […]

Asean Infrastructure More Than Just Roads, Rails and Ports

Investment in soft infrastructure is as important as investment in hard infrastructure as the Asean Economic Community (AEC) pushes for inclusive economic growth by improving the region’s infrastructure as a whole, says Indonesia’s investment chief. “If you want to go fast you go alone, but if you want to go far you have to go […]

Myanmar elections will ‘not loosen military’s grip on business’

The outcome of Myanmar’s forthcoming national elections will do nothing to reduce the military’s business control over natural resources, but the return of a USDP-led government should ensure a continuing pro-business outlook from Nay Pyi Taw, a study said. The opposition National League for Democracy (NLD) is expected to do well in the November elections, […]

Small businesses not yet ready for ASEAN competition

Myanmar is not ready to enter the ASEAN Economic Community that is supposed to come into existence at the end of the year, a government official has told business leaders. Daw Aye Aye Win, deputy director general of the SME Development Department at the Ministry of Industry, was talking to the SME Forum 2015, a […]

Thailand, Myanmar kick start Mega Joint Familiarisation Trip

Bangkok, 18 May, 2015 – The Tourism Authority of Thailand (TAT) and the Ministry of Hotels and Tourism, Myanmar together with Bangkok Airways have announced the launch of the Mega Joint Familiarisation Trip between Thailand and Myanmar” project with an objective of promoting tourism products and services in Thailand and Myanmar to long-haul European and […]

As AEC Nears, Ministry Pushes Anti-Dumping Laws

As the ASEAN Economic Community comes into effect, the overwhelming flow of goods may hurt small and medium enterprises (SME) in Myanmar, leading the Ministry of Commerce to draft antidumping and safeguard laws. U Thein Myint Wai, assistant director at the ministry, said, “When the floodgates of trade are opened, low quality goods can come […]

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 […]