Myanmar’s burgeoning financial sector attracts foreign suppliers

Foreign companies are rushing in to beef up Myanmar’s financial infrastructure, vying to win orders for ATMs and financial software from commercial banks that are rapidly growing under a civilian government. This month, Diebold Nixdorf, the world’s top ATM supplier, will open its first sales office in Myanmar. It is to be staffed with its […]

Myanmar manufacturing set for takeoff

With the end to economic sanctions triggering an investment boom and an abundance of low-cost labor, Myanmar’s nascent manufacturing industries look set for major growth. In the space of less than two years, Japanese clothing retailer Honeys has increased the number of production lines at its second factory in Myanmar from five to 34. The […]

Myanmar Payment Union to Upgrade ATM Card System

RANGOON — The Myanmar Payment Union (MPU) signed with Vietnamese telecom multinational FPT and the National Payment Corporation of Vietnam (NAPAS) on Sunday to initiate a financial switching system, Zaw Lin Htut, chief executive officer of the MPU, told The Irrawaddy. As MPU’s partners, FPT and NAPAS will—starting this year—help facilitate a system upgrade for ATM […]

Vietnam’s FPT Wins Telecoms Services Licence in Myanmar

FPT, Vietnam’s leading technology company, said it has secured a licence to provide fixed telecoms and internet services in Myanmar, becoming the first 100-percent foreign-owned firm to operate in the field there. Myanmar’s communications and technology ministry granted FPT the 15-year licence, which will also allow the Hanoi-based firm to provide telecom services on NFS […]

Vietnam’s FPT enters Myanmar’s telecommunication market

FPT, Vietnam-based information and communications Technology Company, recently signed a joint venture deal with Irrawaddy Towers Asset Holding to set up cellular towers in Myanmar. “The FPT has rich experience in telecommunications industry in Vietnam and other Asian countries. We would like to help Myanmar to develop its telecommunications sector,” said Duong Dung Trieu, FPT’s […]