PM Modi to Indian diaspora in Myanmar: ‘We aren’t merely reforming India, but transforming India’

Prime Minister Narendra Modi, who is on a three-day bilateral visit to Myanmar, justified decisions like demonetisation and Goods and Services Tax (GST) terming them as ‘tough’ while addressing the Indian diaspora in Yangon on Wednesday. “We never shy away from taking big and tough actions for the benefit of India because we consider the […]

Daibochi expects a better second half with new plant’s contribution

KUALA LUMPUR: Daibochi Plastic and Packaging Industry Bhd, which on Wednesday reported a 14% dip in first half-year net profit, expects a stronger performance in the second half of the year as it banks on its newly-operational first overseas plant in Yangon, Myanmar. The flexible packaging manufacturer said in a statement that the consumer packaging […]

Singapore Myanmar Investco reports encouraging initial retail results at Yangon International Airport

Singapore Myanmar Investco Limited has reported revenue of US$13.3 million in its travel and fashion retail segment for the year ended 31 March 2017. Subsidiary SMI Retail only began duty free operations at Yangon International Airport in September 2016, meaning there is little meaningful basis for year-on-year comparison. The company was awarded contracts for duty […]

Faster, easier loans for Mandalay SMEs

The chair from Loan Implementation sub-committee, U Maung Maung Win, who is also the deputy minister for planning and finance, headed the meeting. It was held on Sunday at the Mandalay Regional Chamber of Commerce (MRCCI) premises. U Maung Maung Win said a working committee will ensure that a separate loan facility will be set […]

Foreign insurance companies will be allowed to do business this fiscal year

According to deputy minister for Finance and Planning Maung Maung Win, the government is planning to allow foreign insurance companies to do business this fiscal year. Currently, only three Japanese companies are allowed to do business in Thilawa Special Economic Zone and the Ministry of Finance and Planning is preparing for the implementation of nationwide […]

Registered outbound tour operators reach over 400 in Myanmar

The Ministry of Hotels and Tourism has permitted over 400 outbound tour licenses to operators since its initiation in late 2015, according to the ministry. Tourism in Myanmar is growing rapidly and has received increased interest from investors thanks to the country’s sweeping reforms. International tourist arrivals increase significantly year by year, while some local […]

Gold Exchange Market to Open in 2017

RANGOON — The Myanmar Gold Entrepreneurs Association plans to open a gold exchange market in Rangoon this year. The official gold market has been in the works for three years, and various ministries are now assisting in its creation, said U Kyaw Win, general secretary of the association, at its 14th anniversary ceremony in Rangoon […]

Vietnam’s Stock Market is Set to Boom – That’s Good News For Yangon’s Bourse

​​ A few weeks ago I had the chance to spend some time exploring the Vietnamese city of Saigon – or more precisely, District 1 of Ho Chi Minh City (HCMC). Without doubt the place is the hottest ticket in town for investors targeting the Mekong region. And it is easy to understand why. This […]

China faces tougher laws in Myanmar

In the wake of the controversial Myitsone dam, Aung San Suu Kyi is demanding more from investors involved in high risk projects, reports Vicky Bowman A new government took power in Myanmar on March 31, 2016, led in practice, if not on paper, by Daw Aung San Suu Kyi.  Governments and businesses around the world are keenly […]

No Thai banks among 2nd round of Myanmar licensees

YANGON – No Thailand banks were among 13 institutions that answered a call from Myanmar’s central bank for expressions of interest in a second round of foreign bank licensing aimed at further liberalising a sector that was previously off-limits to international players. Eight of the banks listed in an official central bank statement on Feb […]