Economy to Grow by Seven Percent This Fiscal Year, Observer Group Predicts

RANGOON — Burma’s economy is predicted to grow by at least seven percent in the 2017-18 and 2018-19 fiscal years after growth of six percent last fiscal year, predicted regional observer group ASEAN +3 Macroeconomic Research Office (AMRO). Moderate growth in Burma last fiscal year (6.3 percent) compared to 7.3 percent the year before was […]

Myanmar heads for liberalizing all types of insurance services

Myanmar finance authorities have submitted a proposal to the government on seeking permission to grant operation of all types of insurance services to the private sector. Running of all 40 types of insurance plus additional farmers insurance and overseas employment life insurance are expected to be granted by the government soon, said U Kyaw Win, […]

The land of the $20 smartphone

“This one $40, this one $30 … that one $20!” The owner of the street stall, a man of about 30 years wearing a traditional longyi tied around his waist, is gesturing at a phone that looks, to my eyes, like a mid-range Android phone. It bears the brand Singtech, a brand among myriad others […]

Yangon Government Submits Economic Plan to Parliament

​​ An economic plan for 2017-2018, which aims to increase Gross Domestic Product by 8.5% was submitted to the Yangon Region Government by the Minister of Planning and Finance, Myint Thaung. The minister explained that the draft of the plan was designed to match the budget of the Yangon Region. It was drafted together by […]

Myanmar’s New Struggle: Keeping Foreign Investors Happy

A pariah state for decades, Myanmar’s recent emergence from economic isolation has attracted foreign companies and investors intrigued by the Southeast Asian nation’s untapped potential, abundant natural resources and low wage workforce. The first U.S. fast food restaurant, KFC, opened in 2015 and other assorted Western and Asian brands have popped up across the nation’s […]

Battling for Blood Jade: Inside One of the World’s Most Dangerous Industries

When the earth collapsed, as it does nearly every day in the jade hills of Myanmar, Ye Min Naing was poised on a steep slope of rubble and scree. It was a rainy night six months ago, at the tail end of the monsoons. A truck with wheels the height of a man had just […]

Business Chiefs Hail ‘Final Frontier’

​​ ​​ Will Myanmar be able to cope with the fast-paced dynamic landscape of the world’s economic climate as it records the fastest GDP growth in Asia? Is the government doing enough? Is Myanmar equipped to handle the torrent of foreign interests waiting to pour into Myanmar? These were some of the questions business leaders […]

Myanmar Wants to Modernize Its Banking System

Myanmar is embarking on the first comprehensive audit of state-owned banks in decades, part of a push to modernize the financial system and tackle risks to the nation’s rapid economic growth. The World Bank is working with Aung San Suu Kyi’s government on the project and the results will help to clarify options for restructuring […]

Japanese brewer Kirin targets Myanmar’s hardy drinkers

Japanese brewer Kirin is hoping to tap into swift growth – and serious staying power – with its latest investment in Myanmar’s fizzing beer market, a senior executive said Friday. Last month the beer giant took a controlling stake in Mandalay Brewery for US$4.3 million, topping off its more than half a billion investment in […]

Myanmar Has a Key Role to Play in ‘Club Asia’ as Tourism in the Region Booms

​​ Many moons ago Singapore’s then prime minister tried to encourage the government to develop Myanmar’s tourism sector, writes Lars Henriksson. He’s finally getting his wish. In the book General Ne Win: A Political Biog­raphy academic Robert H. Taylor writes that “on 16 January 1986, Singa­pore Prime Minister Lee Kuan Yew visited Ne Win at his home […]