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Questions arise over cost, accessibility of two-step loans

Despite the important role small and medium enterprises (SMEs) play in the economy, repeated requests for more affordable loans and easier access to financing remain a challenge for the sector. One avenue for SMEs to access financing in Myanmar is via funds provided by official development assistance organisations such as Japan International Cooperation Agency (JICA). […]

Central Bank deputy chief says businesses should pay loans

Banks have a fiduciary duty to ensure that the financial system remains sound and secure by adhering to regulations. Central Bank of Myanmar (CBM) deputy governor U Soe Thein said in remarks to the Pyithu Hluttaw on August 27 that this included ensuring that depositors do not lose their money and that banks collect what […]

Concerns may emerge when Bagan hotels, businesses are forced to move

On July 6, the United Nations Educational, Scientific and Cultural Organization (UNESCO) designated Bagan as a World Heritage Site, marking Myanmar’s second entry to the list after World Heritage Status was granted to the ancient Pyu cities of Sri Ksetra, Halin and Beikthano in 2014. The ancient city has more than 3500 surviving stupas, temples, […]

First Myanmar business environment index published

Businesses in Myanmar are concerned about infrastructure quality and skilled labour availability, the latest report on private sector economic governance reveals. The Asia Foundation has published the Myanmar Business Environment Index 2019 (MBEI), with support from the UK’s Department for International Development (DFID) through the DaNa Facility. The report is a diagnostic tool for government […]

Myanmar, Czech chambers ink pact to boost ties

BUSINESSES from the Czech Republic are keen to explore opportunities for cooperation with potential partners in Myanmar, with their interest stoked by the recent visit of state leader Aung San SuuKyi to the Central European country, a Myanmar business chief said. Zaw Min Win, president of the Union of Myanmar Federation of Chamber of Commerce […]

Myanmar Competition Commission promises to level playing field for businesses

The Myanmar Competition Commission will work with businesspersons to remove hindrances to fair competition, said Union Minister for Commerce Dr. Than Myint, urging businesses to abide by the Competition Law. The Union Minister, in his capacity as the chairman of the commission, made the remarks during his opening address at an event about competition, held […]

“Political stability”: Mandalay courts European investors

“In order to facilitate investment, businesses need political stability. And in that sense, Mandalay is the perfect place to offer this condition,” Mandalay Chief Minister Zaw Myint Maung told an audience of European investors and businesses. The European Chamber of Commerce in Myanmar (EuroCham) in collaboration with the Mandalay Region Chamber of Commerce (MRCCI) organised […]

Yangon to raise K40 billion for compensation by selling land

The Yangon government has to sell land so that it can pay farmers K40 billion (US$26.30 million) in compensation for their land, said Yangon Chief Minister U Phyo Min Thein. But the chief minister said that the land will be sold only to buyers who will use it for businesses, and it will not allow […]

Chinese businesses moving into Bagan

Chinese nationals are starting businesses in Bagan, buying or renting hotels and restaurants, since early this year, according to local tourism and restaurant businesses. The proposal to list Bagan as a UNESCO World Heritage Site, which was submitted in 2018, could be one of the reasons for the interest, according to the businesses. Chinese nationals […]

Businesses call for policy changes to enable smoother operations

A February 22 meeting between the Private Sector Development Committee led by Vice President U Myint Swe and entrepreneurs from the Union of Myanmar Federation Chamber of Commerce and Industry (UMFCCI) saw the fisheries, steel-making, vehicle manufacturing and distribution and border trade promotion sectors call for policy changes to ease the challenges they face when […]