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Tourist arrivals rise 3.15% in ’18

Myanmar received over 3.55 million foreign tourists last year, a 3.15 percent increase over the 3.44 million in 2017, according to the Ministry of Hotels and Tourism. “During 2018, tourist arrivals from western countries were low, and most visitors came from Asia, so the amount of tourism income will be different than last year, but […]

Vietnam’s Viettel seeks to double Myanmar customer base – CEO

Vietnam’s largest telecommunication company, Viettel, is seeking to double its five million subscribers in Myanmar by the end of the year, its president and chief executive officer Le Dang Dung told Reuters an in interview on Friday. Viettel, whose $1.22 billion unit Viettel Global Investment is trading on the Unlisted Public Company Market, has also […]

Changes in petroleum law could give Myanmar a boost in oil and gas investments

Changes in a petroleum law in Myanmar could help the Southeast Asian country attract investment in to the oil and gas sector, while reducing the growing strain on depleting domestic oil and gas reserves, according to a report by Fitch Solutions Macro Research. With Myanmar among the few under-explored upstream markets in Asia and interest […]

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 […]

Get All Myanmar aims high for rapid growth to expand overseas

WITH online to offline (O2O) platforms on the rise across Asia, Get All Myanmar Co, a locally owned enterprise that began commercial operations in February this year, is confident that it will be able to expand overseas in a few years, according to Nyein Chan Soe Win, the firm’s co-founder and chief executive. “We have […]

The EU’s Tariff Threats Against Asia’s Autocrats Risk Backfiring

The European Union is threatening to slap tariffs on Asian leaders who abuse their power, a move that risks upending several key garment-producing nations in the region. Last month, the EU told Cambodia it would start the process of withdrawing tariff-free access for most goods under the “Everything But Arms” initiative, saying its July election […]

Can mobile banking overcome Myanmar’s trust issues?

It is 5pm on a Wednesday and Yangon’s streets are at a near standstill. Sunset comes early to this city of 7.36 million. Thankfully, since it is winter, the weather is cooler and drier than the rest of the year. So as dusk descends over some of the unruliest traffic in Asia – there are […]

New Toyota Innova model hits Myanmar market

Global car company Toyota officially launched its Innova eight-seater compact multi-purpose vehicle (MPV) in Myanmar last Wednesday. The Innova is the third model, after the Avanza and Rush, Toyota has introduce in Myanmar this year. The Innova specifically for the emerging markets in Asia including Myanmar. The new Innova comes with a powerful 2.0 liter […]

Myanmar welcomes more investment from Hong Kong

A Myanmar Investment Promotion seminar was held on October 16 at Island Shangri-La, Hong Kong. The seminar was attended by Mr. Edward Yau, Secretary for Commerce and Economic Development and Officials of Hong Kong SAR Government, Members of legislative council, Members of Hong Kong Development Council and Hong Kong Productivity council and representatives of over […]

World Bank cuts Myanmar’s growth forecast to 6.2%

The World Bank has revised downwards its forecast for Myanmar’s economic growth by 0.5 percentage points to 6.2 percent in the fiscal year 2018-19. The World Bank East Asia and Pacific economic update released this month downgraded Myanmar’s GDP growth projections from the previous forecast, saying seasonal floods, rising cost, inflationary pressures and the Rakhine […]