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Illegal trade takes a heavy toll on country’s economy

Smuggling and illegal trade continue to be a major problems for the country’s economy, says the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI). According to the Business Sentiment Survey issued by UMFCCI in May, illegal trade stands at sixth among the top 10 issues hampering the country’s economy. The survey was […]

More Asian Travellers Expected to Arrive in 2018

Industry players forecast tour packages from Asian markets to jump 25 percent in 2018 and 2019, while arrivals from European countries could dip by almost 20pc for the same period. U Khin Zaw, advisor of the Union minister of Hotels and Tourism, told The Myanmar Times on January 3 that the change in arrival pattern was […]

Why Myanmar’s government needs to do more to maintain economic growth

Myanmar’s economy is growing. In particular, the manufacturing and retail sectors are booming. However, the government must address significant challenges to maximise Myanmar’s growth potential. The manufacturing industry grew dramatically The government set bold industralisation targets. It wanted to promote manufacturing exports and lessen the country’s reliance on oil and gas. Industry, including manufacturing, contributed […]

Forest rights create new livelihoods in Myanmar

In Myanmar, the National League for Democracy (NLD) is transferring the rights to forest land – and all its potential bounty – to local communities. Duncan McQueen explains how this important move, supported by peer-to-peer learning, is helping to establish new long-term livelihoods. It is impossible to talk about Myanmar without acknowledging the persecution of […]

Myanmar Garment Sector Sees Explosive Growth

European and Asian countries are increasingly placing orders for Myanmar garments, said Aung Htoo, the deputy minister for commerce at the opening ceremony of Myanmar SUMEC Win Win Garments in the Shwepyithar Industrial Zone. The local garment sector is said to be young, but it is rapidly growing and has momentum, said Aung Htoo. In […]

Govt Investment Director Confident in Foreign Investment Despite Rakhine Conflict

YANGON — U Aung Naing Oo, director-general of Directorate of Investment and Company Administration under the Ministry of National Planning and Finance, talked to The Irrawaddy reporter Shwe Lay about foreign investment in Myanmar and the government’s plan to promote it. How much investment has Myanmar had over the past year? Which countries are the […]

Myanmar’s Military Holds Key to Further Reform

What does Myanmar need to push through a successful democratic transition? It must build strong institutions, transform the economy, and end decades of conflict between ethnic armed groups and government forces, among numerous other challenges. Yet, these enormous tasks seem trivial when compared to what is probably the biggest obstacle to further democratic reform: the […]

Uber Stuck in Neutral Under Hong Kong Taxi Regime

HONG KONG — Uber Technologies’ ride-hailing service is stalling in Hong Kong, cut off by taxi interests that wield heavy influence in local politics. Law enforcement authorities in May arrested 22 Uber drivers on suspicion of operating without a taxi license or auto insurance. “Some companies … hope they can run their businesses and not […]

Foreign Direct Investment into a country is influenced by Ease of Doing Business

FDI is desired by most of the countries as it can help in boosting the economic development of the country. Therefore almost every country tries to attract the foreign investment by offering the incentive such as tax incentive, tax grace period and etc. Our neighbouring country, India had amended the Foreign Direct Investment Law in […]

Australia Wants AIIB to Invest in Coal Power

​​ Australia is reportedly lobbying hard for the China-led Asian Infrastructure Investment Bank (AIIB) to invest in coal power projects in Asian countries. The newly-established development bank is currently drafting its energy strategy and the prospect that coal could be excluded from its priorities has alarmed both the Australian government and the country’s powerful coal […]