fbpx

Local Waste-Management Company Among Asian Winners at Global Startup Competition

In a first for a company managed by Myanmar citizens, local waste-management service RecyGlo competed with more than 20 other startups from Southeast Asia, Asia Pacific and the Caribbean and was among 15 winners of last month’s Seedstars Asia Competition in Cambodia, earning the company the right to take part in the global competition next […]

Competition heats up on Yangon-Shanghai route

Chinese budget carrier Spring Airlines on Monday commenced scheduled operations at Terminal 1 of the Yangon International Airport (YIA). Spring Airlines will operate direct flights between Yangon and Shanghai using an Airbus A320 aircraft, which has the capacity to carry 186 passengers. The carrier offers flights from YIA four times a week. The move comes […]

Higher tariffs still welcome if power supply is regular, investors say

Despite higher electricity prices, if businesses are able to enjoy a regular, uninterrupted supply of power, the move is still welcome as most will still be commercially viable, some investors said. “In the last year alone, blackout time in our factory was over 300 hours. When the power is out, we have to run the […]

Consolidation expected in banking industry as competition heats up

The Central Bank of Myanmar (CBM) believes that allowing foreign banks into the retail-banking sector will drive consolidation in the local banking industry and make available a larger pool of funds for growth. “Inevitably, foreign banks will win market share from local banks and we see more mergers of local banks in response to a […]

Myanmar backs ‘strategic partner’ Huawei despite US ban

Amid the ongoing trade war between the United States and China that recently intensified with Washington’s ban on Huawei Technologies, Myanmar has publicly announced its stance on the issue at the event entitled, “Myanmar Indoor Coverage Digitalisation Summit 2019” on Friday. Soe Naing, deputy director general of the Posts and Telecommunications Department, said Myanmar considers […]

Local plastic makers face rising competition from imports

Plastic makers in Mandalay are facing tough competition from imported products, local businesses told the Myanmar Times. Foreign plastic products are much cheaper than locally made products because local producers are unable to scale production and instead face rising costs from having to import raw material and logistics. “For production cost, we are trying to […]

Letter: Fuel provision elephant in the room for airlines

SIR – I would like to respond to an article by Zeyar Hein on March 7 on domestic airlines. Complaints on high domestic airfares – many domestic flights are more costly than flights to Bangkok, Hanoi or Kuala Lumpur – and how it is hurting Myanmar’s tourism are gaining traction these days, with recent high-profile […]

Domestic airlines need mergers, partnerships to sustain

There is a need for domestic airlines to merge or form partnerships with foreign airlines in order to sustain themselves in the longer-term. Stakeholders believe that the way forward for domestic airlines, which continue to be loss-making due to lower number of passengers and higher costs, would be to either merge their operations or form […]

MAB launches wealth banking service as competition rises

Myanmar Apex Bank (MAB) has launched a special wealth banking and rewards programme – MAB Gold Wealth Banking – for high net worth individuals in Myanmar. For now, the platform is targeting those who have the cash to place a minimum fixed deposit of K300 million as potential clients. Interest rates for fixed deposits are […]

Corporate Japan urges Myanmar to address business concerns

The most senior Japanese business leader in Myanmar urged the government to recognise how liberalisation, efficient bureaucracy and reliable power supply allowed Thilawa Special Economic Zone (SEZ) to attract considerable investments. He also warned that current restrictions placed on foreign firms in the retail and wholesale sector are already “the maximum” but commended the ministry’s […]