Myanmar launches investment promotion plan amid toughening conditions

The Myanmar Investment Commission (MIC) on October 8 launched its Myanmar Investment Promotion Plan (MIPP) for the time frame between 2016-17 and 2035-36. The plan outlines five strategies to actively promote investments in the local economy, including new policies and regulations, institutional development, infrastructure development and leveraging on local business systems, industries and human resources. […]

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 […]

Sink-or-Swim Time for ASEAN Latecomers as Tariffs Come Down

HANOI — Cambodia, Laos, Myanmar and Vietnam are no longer getting the kid-gloves treatment in the ASEAN Economic Community. As late entrants to the Association of Southeast Asian Nations, the four countries were initially exempted from abolishing some tariffs when the bloc established the AEC at the end of 2015. As of Monday, however, they […]

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 […]

Myanmar’s KBZ Bank to Ride Asean Growth Wave

KBZ, MYANMAR’S first bank to have expanded internationally with presence in Singapore, Thailand and Malaysia, is aiming high to grow further in tandem with the growth of Asean, said Nang Lang Kham, the bank’s deputy chief executive officer. She said in an interview that the growth of Asean has been quite fascinating thanks to the […]

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 […]

Myanmar’s tourism industry faces challenges

Myanmar’s tourism industry has experienced a significant decline compared to previous years. To understand the causes for this development the Global New Light of Myanmar interviewed U Thet Lwin Toe, chairman of Myanmar Tourism Entrepreneurs Association. Q: May I know current situation of tourism industry? The country’s tourism sector rose in 2012 like a tsunami. […]

30 Thai SMEs seek partners in Myanmar

WITH THE Asean Economic Community opening up the region, representatives of 30 Thai small and medium-sized enterprises visited Myanmar from Monday to Wednesday to seek out local partners. Kitsana Vachekrilas, treasurer of the Thai Chamber of Commerce (TCC) and managing director of Bua Thong Thani Management Co, said in an exclusive interview that all the […]

Inter-Related Challenges for SMEs and Financial Sector

When developing a country’s economy, the success of small and medium-sized enterprises (SMEs) is a vital part and should be a priority for any administration which is keen to maintain prosperity. In order for strong businesses to emerge and compete with other regional enterprises, enterprises will need to grow and develop. For that to happen, […]