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Myanmar next stop in China-Japan rivalry as frontier market opens doors to yuan and yen payments

Myanmar has officially permitted the use of the Chinese and Japanese currencies in cross-border payments, as the Asian giants vie for dominance in one of the region’s last frontier markets. The directive means that the yuan and yen join the euro, the US Dollar and the Singaporean dollar as designated currencies for settling international trade […]

Disappointment at government hasn’t eroded support among businesses: academic

The disappointment at the current government’s sluggish economic reforms has not eroded the support among businesses, according to a Mandalay and Bangkok-based academic. On the contrary, businesses are worried that a failure of the administration will roll the country back to the junta era. The Myanmar Times talked to Pietro Borsano, lecturer at Mandalay International […]

How EuroCham Myanmar helps Myanmar’s economy

Filip A. Lauwerysen is the Executive Director at the newly established EuroCham Myanmar (European Chamber of Commerce in Myanmar) since September 2015. Mr Lauwerysen is a Dutchman who graduated from Leiden University in the Netherlands with a Bachelor and Master of Arts in History, specialised in European globalisation (mainly in Asia). Then he also went […]

Singapore Myanmar Investco reports encouraging initial retail results at Yangon International Airport

Singapore Myanmar Investco Limited has reported revenue of US$13.3 million in its travel and fashion retail segment for the year ended 31 March 2017. Subsidiary SMI Retail only began duty free operations at Yangon International Airport in September 2016, meaning there is little meaningful basis for year-on-year comparison. The company was awarded contracts for duty […]

Don’t Invest in Myanmar? What Rubbish!

Author: Anthony Larmon is the founder and managing director of Echo Myanmar   In an article posted last week titled “Don’t Invest in Myanmar, Here’s Why”, a young Mr. Reid Kirchenbauer encourages the good readers of his InvestAsian blog not to invest in Myanmar. He doesn’t encourage them to do their due diligence, to think […]

Malaysian telco issues $500m Islamic bond for Myanmar towers investment

Malaysian telecoms giant Axiata Group on November 13 issued a US$500 million Wakala Sukuk, or Islamic bond, to fund its investment into a Myanmar towers business. This is the largest-ever corporate bond issued with proceeds to be invested into a Myanmar towers business, demonstrating considerable investor confidence in the frontier market. Telecoms towers companies have […]

Crunch Time for Copycats?

YANGON — Imagine for a moment a billboard in downtown Yangon that reads “Kandawgyi Fried Chicken… It’s finger lickin’ good!” Kentucky Fried Chicken will soon enter Yangon’s fast food market, and you can be sure the company will be concerned about preventing any upstart business using words or images similar to its trademarked brand. But […]

OCBC builds anew with 60 years’ history

Singapore’s OCBC Bank has 60 years of experience banking in Myanmar as it looks to build its presence following its licence win last month. Tan Chor Sen, OCBC’s international head, said having a Myanmar branch is important as the country is the next up-and-coming destination for business in the region. “We are possibly the only […]