Australian visionary gives Myanmar tech room to grow

YANGON On a balmy December evening in downtown Yangon, a diverse crowd packs into the sprawling offices of Phandeeyar, an information and communications technology hub. The event marks a milestone in Myanmar’s “connectivity revolution” — the group’s second birthday, and a new phase in its training and investment programs for startups. The space is normally […]

Thai-Myanmar entrepreneurs join business matching

PRACHUAP KHIRI HKAN, 1 June 2016  – Entrepreneurs from Thailand and Myanmar have participated in a business matching session to boost trade and investment between both countries, says governor. Prachuap Khiri Khan Governor Tawee Narissirikul and Myanmar’s Deputy Chairman of Myeik Chamber of Commerce and Industry U Tun Tun Win have presided over the opening […]

Myanmar apparel exports may double by 2020

Myanmar’s apparel exports are expected to more than double to $4 billion by 2020 owing to the favourable government policies and low labour costs in the country, according to industry insiders. One of the reasons for this is the high wages and relatively higher cost of production in countries like Vietnam, India, China, and South […]

Rising tide also swamps Yangon firms

While Yangon may not have felt the floods directly, companies and consumers are still bearing the economic cost of rising prices and falling business. In normal times, importing and distributing products is a lucrative business, but now, many people have stopped buying – while commodity prices have also risen back in Yangon. Basic foods like […]

Dawei megaproject moving closer

The long-delayed development of the Dawei deep-sea port and special economic zone is making progress, with a tripartite Joint High-Level Committee meeting scheduled for next Wednesday in Myanmar to discussmore details. The meeting also marks a milestone as the Myanmar government is due to sign construction deals with two leading Thai construction companies, Rojana Industrial […]

Jewellers worry over tax hike on cut stones

Gem entrepreneurs will be required to pay a 10 per cent commercial tax on sales of finished stones, plus 15 per cent for uncut stones, even as other commercial taxes have been reduced under the 2015 Taxation Law, according to the Internal Revenue Department under the Ministry of Finance. Min Htut, director-general of the Internal […]

Yangon Angels could give start-ups wings

The Yangon Angels – investors and entrepreneurs that make up a new, informal funding network based out of Myanmar’s most populous city – refuse to be “Yes” men. At least, that’s what it seemed like after one member, Charles Kathrein of Singapore-based Kathrein Ventures, called the valuations that four start-ups claimed in their investment pitches […]

Yoma Bank helps SMEs with loans

Yoma Bank sees disbursement of loans to small and medium enterprises as a crucial part of its service, U Theim Wai, chairman of First Myanmar Investment told Mizzima on December 17. “We have enjoyed a remarkable achievement in disbursing loans to SMEs. It is an important job of Yoma Bank,” he said. Yoma bank is […]

Thura U Shwe Mann says economic reform needs a boost

Myanmar’s economic reform process has not yet reached its goal, Parliamentary Speaker Thura U Shwe Mann told business people and media at a meeting at the office of the Hlinethaya Industrial Zone on December 13. “Our country needs to carry out more and more reform processes. Although the nation is satisfied with the political reform […]

Civil society condemns crony capitalism

Civil Society Organisations (CSOs) have unanimously agreed at the Myanmar People’s Forum that a handful of cronies who have close ties with the government are becoming richer thanks to the inflow of foreign investment. The CSOs and attendees to the forum held in the Diamond Jubilee Hall said only cronies got the green light to […]