YANGON, MYANMAR — IFC through a partnership with Australia, the United Kingdom and Japan signed a memorandum of understanding (MoU) with the Myanmar Rice Federation (MRF) to support sustainable growth of Myanmar’s rice industry. The MoU aims to accelerate changes in the industry through development, improvement, and promotion of milled rice standards and paddy grading […]
Myanmar’s electricity goals depend on ODA
May 2, 2018 by
With 5.5 percent annual growth of gross domestic product, Myanmar was one of the fastest growing countries in ASEAN during 2011-2015. The growth of Myanmar’s economy is heavily influenced by the government’s focus on promoting special economic zones among investors.Subject to the implementation of this focus, infrastructure development in energy is vitally important to make […]
Myanmar seeks Malaysian FDI in energy, plantations
January 29, 2018 by
MYANMAR is seeking more foreign direct investment (FDI) inflows from Malaysia to help develop its key economic sectors. Malaysian conglomerates have been called to capitalise on the country’s increasing demand for electricity and vast areas of untapped land by bidding for energy projects and expanding oil palm cultivation capacities in Myanmar. Former Deputy Finance Minister […]
Why Myanmar’s government needs to do more to maintain economic growth
January 15, 2018 by
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 business confidence plummets as policy uncertainty bites: survey
December 19, 2017 by
YANGON (Reuters) – Business confidence among entrepreneurs in Myanmar dropped “drastically” this year due to unclear economic policy, a survey shows on Tuesday, amid growing frustration over leader Aung San Suu Kyi’s management of the fledgling economy. Suu Kyi has identified economic reform as a key goal to complete Myanmar’s democratic transition after decades of […]
Myanmar focused on improvement of literacy rate
October 23, 2017 by
The government has been building a 21st century education system that will propel Myanmar to the rank of the upper-middle-income nations by 2030. Myanmar kicked off the International Literacy Day 2017 by holding a ceremony at the Ministry of Education in Nay Pyi Taw on September 8, with the objectives of aiming to improve literacy […]
Mastercard to keep high growth rate in Myanmar
August 3, 2017 by
Ravinder Aurora, executive director for global public policy and community relations at Mastercard, said at a press conference yesterday that the company enjoyed double digit growth in terms of the number of card users and transaction value by using the cards every year. “Currently, I believe there are roughly about 2 million cards within the […]
Myanmar’s tourism industry faces challenges
June 29, 2017 by
Myanmar’s tourism industry has experienced a significant decline compared to previous years. To understand the causes for this development the Global New Light of Myanmar interviewed U Thet Lwin Toe, chairman of Myanmar Tourism Entrepreneurs Association. Q: May I know current situation of tourism industry? The country’s tourism sector rose in 2012 like a tsunami. […]
Myanmar: Opening up business to the world
June 16, 2014 by
MY FIRST visit to Myanmar was in 1985 – it was at a time when the country was still struggling to find its footing from years of internal strife and international disdain. There is really no need to describe a country in this situation, where its political and economic struggles are visible in the streets […]
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