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Foreigners welcome to set up retail-petroleum business

Foreign oil and gas companies with retail operations can apply to set up their businesses in Myanmar, a senior official with the Ministry of Electricity and Energy (MOEE) told The Myanmar Times. While Myanmar remains the only member of Asean that does not allow 100 percent ownership in retail petroleum operations, it has allowed foreign […]

More Indian investments expected with better connectivity, bilateral ties

With a target of becoming a US$5 trillion economy within the next six years, India could overtake the UK to become the world’s fifth biggest economy this year and even surpass Japan to be the third largest in 2025, IHS Markit noted in a report this month. As the only ASEAN member state to share […]

Mandalay labor union campaigns for higher wages following electricity bill hike

On the first of July, a labor union – Myanmar Industries, Crafts and Services (MICS) Trade Union Federation – took to the streets for increased wages. The campaign, titled “Raise Wages not Electricity Prices”, was demonstrated in Pyi Kyi Than Kyun district, 60th street, and Kyan Sitt Tar streets of Mandalay. Low-wage primary and secondary […]

‘Myanmar not quite ready for digital economy’

Myanmar has prepared a digital transformation roadmap for the years 2018 to 2025 built off a master plan drafted by the Digital Economy Development Committee (DEDC). Yet, the country is not ready for the digital economy, if indicators such as network readiness index, e-government development index, cyber security index and ICT development index are anything […]

Myanmar woos foreign investors to ‘fast-growing’ Yangon

WITH MAJOR infrastructure and logistics initiatives being pushed, on top of being home to seven million people, foreign investors should not hesitate to invest in Yangon, officials told the Yangon Investment Forum 2019 on Friday. Thaung Tun, chairman of the Myanmar Investment Commission and Union minister for investment and foreign economic relations, said Myanmar’s commercial […]

Thailand, Myanmar agree to cooperate

Thailand and Myanmar have signed a collaboration deal to promote tourism routes connecting ancient cities of the two countries in preparation for a travel boom expected from Asean. Thailand’s Designated Areas for Sustainable Tourism Administration (Dasta) earlier this month signed a memorandum of understanding (MoU) with Myanmar authorities to foster sustainable and cultural travel routes […]

Yangon’s equities exchange has only five trading stocks and very few investors, but that’s about to change

In a colonial building in Myanmar’s largest city, a large screen showed stock prices for a handful of companies. Four people, perhaps tourists, perhaps investors, shuffled around the floor. The clock struck 11. Suddenly the prices changed. Then, in an instant, all the people were gone. That was just another day at Asia’s tiniest bourse, […]

Deloitte Southeast Asia Announces New Leadership for Myanmar and Singapore

Deloitte Southeast Asia has announced that Aye Cho and Cheung Pui Yuen have been appointed as Country Managing Partners for the Myanmar and Singapore practices respectively. They have taken on their new roles starting on 1 January 2019. Aye Cho has succeeded Soe Win who retired from Deloitte Myanmar as its Country Managing Partner earlier […]

Govt counting on Asian travellers to boost tourism

Myanmar’s tourism sector has borne the brunt of the Rakhine refugee crisis, with growth in tourist arrivals dropping to 1 percent in 2018 compared with 7.1pc in 2017, according to the World Bank. The number of western tourist arrivals fell the most, more than offsetting arrivals from Asia. The numbers reflect reports of booking and […]

AirAsia still planning to enter Myanmar

Low-cost airline AirAsia remains committed to expanding into Myanmar as part of its regional strategy in Indo-China, Riad Asmat, the firm’s CEO, said. “Indo-China is still very untouched in terms of the possibilities for AirAsia. That includes Myanmar, Laos and Cambodia. For example, we currently fly around seven destinations and 13 routes. We want to […]