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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 […]

Local Entrepreneurs Take Part in Myanmar’s ‘Largest Ever’ StartUp Competition

More than 23 teams from a pool of 100 local entrepreneurs have par­ticipated in the country’s largest ever startup com­petition StartUp Chal­lenge 2017, organised by Yangon-based innovation lab Phandeeyar. Over the 9-day com­petition teams had to learn the “lean-startup” methodology of creating a tech business in one of four categories – Fintech (financial technology), AgTech […]

Telenor to roll out 4G in Myanmar as soon as summer

YANGON — Telenor Group will launch fourth-generation cellular service in Myanmar as early as this summer, Petter Furberg, CEO of the Norwegian carrier’s local arm, told The Nikkei. Telenor Myanmar is testing 4G in four cities. The rollout will begin when more spectrum becomes available, Furberg said. Myanmar’s government plans to hold an auction for […]

College launches tech start-up competition, with winners to get shot at Singapore reality show

Myanmar’s young entrepreneurs-in-the-making are getting a shot at reality-show fame from Yangon’s Lithan University College (LUC). The college is putting on Start-Up Boot Camp, a two-day event for Myanmar people with fresh business initiatives. Candidates selected to participate get to do so at no cost. The boot camp turns traditional teaching style on its head, […]