Myanmar consumers shift habits: study

Myanmar consumers in major cities evolved from a generation of necessity to a generation of need for social appearance and lifestyles, according to a Thai-based behavioural consulting research firm, which attributed the shift to the increase of disposable income of workers amid economic growth during the past few years. Envirosell Thailand, which conducted a study […]

Cash is king in Myanmar, but for how long?

Since 2012, Myanmar has seen a steady economic growth, but most people in the Southeast Asian country still don’t possess a bank account and prefer to use cash for financial dealings. Ate Hoekstra reports from Yangon. “If a customer wants to buy a new vehicle, he usually brings a stack of cash with him,” says […]

Why Myanmar’s government needs to do more to maintain economic growth

Myanmar’s economy is growing. In particular, the manufacturing and retail sectors are booming. However, the government must address significant challenges to maximise Myanmar’s growth potential. The manufacturing industry grew dramatically The government set bold industralisation targets. It wanted to promote manufacturing exports and lessen the country’s reliance on oil and gas. Industry, including manufacturing, contributed […]

Myanmar’s Garment Industry is on a Growth Path

Myanmar is starting to get more attention and investment in the garment manufacturing sector, despite some persistent political and labor strife. Myanmar SUMEC Win Win Garments Co., a unit of SUMEC Textile and Light Industry Co., has opened a new factory in Shwe Pyi Thar Industrial Zone in Yangon, according to Asian press reports. Speaking […]

Myanmar’s largest Chinese-invested garment company launches new factory

YANGON, Oct. 27 (Xinhua) — Myanmar’s largest Chinese-invested garment company launched a new factory in Yangon on Friday. Myanmar SUMEC Win Win Garments Co., Ltd, Myanmar’s largest exporter in garment sector, and a branch of SUMEC Textile and Light Industry Co., officially started operating a new factory in Shwe Pyi Thar Industrial Zone in Yangon. […]

Myanmar Investment Full Year Net Asset Value Increases Over 20%

LONDON (Alliance News) – Myanmar Investments International Ltd said on Monday its full year net asset value increased 20.3% year-on-year to USD29.2 million as its loss widened due to costs relating to joint ventures and operating expenses. Myanmar Investment’s pretax loss widened to USD2.8 million in the financial year ended March 31 from USD2.2 million […]

Strengthening Myanmar’s banking sector is key to economic growth

Central to Myanmar’s economic development is the reform of its finance sector and specifically its banking sector. Banks play a fundamental role in the transformation of market economies. Recently the government has enacted a series of laws intended to reform and strengthen its banking institutions to restore investors’ confidence and to make capital more accessible. […]

Japanese joint-venture plans Yangon hotel

Hotel Okura Co Ltd said it would develop the luxury Okura Prestige Hotel with Ayeyar Hinthar Holdings Co Ltd in Yangon by 2020, with five more hotels due in the next five years. The company expects to sign a contract with Yangon Technical and Trading Co Ltd, a subsidiary of Ayeyar Hinthar, in August, working […]

Myanmar workers in Thailand victims of a broken system

MYAWADDY, Myanmar: With only meagre belongings stuffed into backpacks and duffel bags, tens of thousands of Myanmar migrants have streamed home across the Thai border over the past two weeks. But it is not a joyous homecoming for the truckloads of men and women, who fled Thailand in fear of a new law that hardens […]

Promise and hurdles for foreign investment in Myanmar

Having keen observer and participant in the Myanmar’s transition since socio political changes commencing in 2011, it came as no surprise to those that know me, when I wrote a number of articles on the importance of sound Corporate Governance. As a serial entrepreneur, Myanmar represented a frontier market that was open for investment with […]