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E-commerce threat for Myanmar’s jade

As if human rights abuses, corruption charges and deadly landslides haven’t hurt the industry enough, Myanmar’s multi-billion-dollar jade and gemstone industry now has to deal with the challenges of e-commerce. Myanmar produces 90 percent of the world’s jade and is a major player in the global gem economy, but poor regulations mean up to two-third […]

Gem, jewellery traders in Myanmar face competition from WeChat

Gem and jade businesses in Myanmar have long struggled against illegal traders, who evade taxes and undercut them in terms of price. Now, the same businesses are up against a new threat: e-commerce. Since the beginning of this year, brick-and-mortar gem businesses have seen a sharp drop in sales at international trade fairs and expos. […]

New E-commerce Marketplace Bets on Myanmar’s Potential

A new e-commerce website called Spree.com.mm has officially launched, and will sell electronic appliances, household items, travel kits, fashion products, child products, food, and sporting products. The e-commerce platform will provide new competition to the Alibaba-backed Shop.com.mm which currently dominates the local e-commerce market. Users can make purchase items using various payment methods like Visa, […]

Russia offers to help Myanmar with digital legislation, e-govt

Russia on Wednesday offered to support Myanmar on the digital front, with proposals to help the country draft its first cyber security law, build e-government platforms and develop smart cities. More than 70 percent of the Russian population has round-the-clock access to e-government platforms, the use of which also helps to eliminate corruption and errors, […]

Latest CBM ruling seen as setback for cashless transactions

An announcement from the Central Bank of Myanmar (CBM) disallowing the use of prepaid cards in the local currency is a step backwards for cashless transactions, industry observers said. The CBM, which made the announcement on July 25, said prepaid cards with a limit of US$5,000 issued by local banks in partnership with foreign financial […]

In China, jade sales enter the era of livestreaming

Wang Qing was clearly unhappy with the amount being offered for a rock that might contain high-quality jade. Speaking into his phone during a livestream auction in Ruili, a city in Yunnan province on China’s border with Myanmar, he said: “7,000 yuan (RM4,228)? For this? Before you offer a second price, friend, please take a […]

Online shopping site rgo47 eyes a growing market

When Royal Golden Owls Co. launched the 27th SEA Games Myanmar T-shirt in 2013, it was a hit across the country. To meet soaring demand for the T-shirts, which sported the games’ owl mascot, Royal Golden Owls turned to rgo47 to give consumers the option of ordering online. One of Myanmar’s first online shopping platforms, […]

Opportunities available to digitise manufacturing, agriculture in Industry 4.0

Myanmar has the potential to leapfrog semi-automated production lines and jump straight into the era of Industry 4.0, or fourth industrial revolution, under which cyber-physical systems and marketplaces, smart robots and machines, big data, connectivity, energy efficiency and virtual industrialisation will take center stage. This is because Myanmar has not even fully participated in the […]

What Industry 4.0 Demands of Myanmar

It is of primary importance, Myanmar Minister of Industry U Khin Maung Cho told the more than 100 gathered at the Novotel Yangon Max hotel Friday morning for the Industry 4.0 in Myanmar conference, to create an inclusive digital economy. Industry 4.0—a term with a fluid definition but that generally refers to commercial and industrial […]

Public mistrust slows adoption of e-commerce in Myanmar

The use of electronic payments in Myanmar, particularly at shopping centres and in online shopping, has been slowly catching on since the government made digital technology a priority in the 2015 National Export Strategy. In addition to banks issuing Myanmar Payment Union (MPU) cards for electronic payment, mobile wallet applications like CB Pay, KBZPay, AGD […]