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Thai banks spread QR code in Asean

Thailand is set to kick off cross-border payment via QR code technology in Asean by mid-year, aiming to enhance financial transactions through the digital platform across the region. Digital payments between Thailand and Singapore and Cambodia are expected to begin in the middle of the year, said Siritida Panomwon Na Ayudhya, assistant governor for payment […]

Myanmar to Establish Credit Guarantee Corporation

Union Minister of Planning, Finance and Industry U Soe Win revealed during a January 22 meeting with local micro, small and medium enterprises that the ministry is working to form a credit guarantee corporation to help MSMEs get access to financial services. The ministry is working in collaboration with the Central Bank of Thailand to […]

Myanmar leads ASEAN on child rights and protection

Myanmar is the leading country in Southeast Asia in eliminating corporal punishment and child labour following the ratification of a minimum age obligation and passsage of a landmark legislation. In November, the parliament approved the ratification of the International Labour Organization’s Minimum Age Convention No 138. The 18-article convention seeks to abolish child labour and […]

Growth potential in agriculture restricted by quality, other issues

In Myanmar, agriculture contributes to a third of the country’s GDP, a quarter of its exports and creates the bulk of job opportunities. Yet, the sector’s true potential remains restricted by poor access to finance and technology, limited infrastructure, complex land tenure and quality issues as well as weak supply chains. Nevertheless, demand for products […]

A deep dive into growth projections

Despite rising costs, teething problems as a result of economic reforms and a slower flow of foreign capital into the country, government officials and institutions like the World Bank and International Monetary Fund have issued lofty growth forecasts for Myanmar in the year ahead. Among the most bullish of these institutions is the ASEAN+3 Macroeconomic […]

Myanmar Solar: Lots of Potential, But a Cloudy Outlook for Solar Energy Development and Growth

Solar energy is just beginning to gain some traction in Myanmar, a country that has been gradually opening up its economy and society to the world since 2011. Demand for energy has been growing fast, in parallel with the ASEAN (Association of Southeast Asian Nations) member’s economy, and solar energy is competing against a variety […]

Myanmar Inks Four Agreements With S.Korea to Cooperate on Education, Environment, Tech

YANGON—Myanmar signed four Memorandums of Understanding (MOUs) with South Korea on cooperation on fisheries; technical and vocational training; the environment; and development of digital economy, higher education, smart cities and connectivity during State Counselor Daw Aung San Suu Kyi’s trip to Busan earlier this week. The State Counselor visited the city from Nov. 25-27 to […]

Philippines Firms Eye ASEAN’s last Frontiers

PHILIPPINE conglomerates are watching out for opportunities in less developed but fast-growing Association of Southeast Asian Nations (ASEAN) members, drawn by the “unique needs” of these markets. Gross domestic product growth projections of the Asian Development Bank, International Monetary Fund, the World Bank and the ASEAN+3 Macroeconomic Research Office for Cambodia, Laos and Myanmar have […]

Myanmar Has Been Obsessed with Korean Culture for Two Decades and Now, The Wave is Hitting

YANGON: Zay Linn Htike remembers as a boy waiting to watch his family’s favourite Korean drama series at home. It was called Autumn In My Heart, a program that swept Myanmar close to two decades ago. “We didn’t have a generator. So if there was an electricity blackout, my mother grabbed me and went to […]

Ayala to benefit from Myanmar investment

DIVERSIFIED conglomerate Ayala Corp. is seen to benefit in the long run from its investment in Myanmar-based Yoma Group. Last week, the listed firm announced that it was acquiring a maximum 20-percent stake in Yoma Group for $237.5 million to further its presence in the Association of Southeast Asian Nation (Asean) region. Ayala Center, Makati […]