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ADB Forecasts Myanmar’s Economy to Resume Growth This Year

YANGON — The Asian Development Bank (ADB) expects Myanmar’s economy to resume growth this year and continue to expand in the next thanks to more foreign investment and a positive response to the government’s economic and policy reforms. The Asian Development Outlook 2019 forecasts Myanmar’s economy to grow by 6.6 percent in 2019 and by […]

Growth, living standards to rise as Mandalay aims to be second growth engine

Living standards in Mandalay Region are expected to rise this year with per capita GDP rising to K1.7 million compared to K1.5 million in the past, said regional chief minister U Zaw Myint Maung at the Mandalay International Trade Fair and Business Forum held on March 23. This will come on the back of rising […]

Letter: Fuel provision elephant in the room for airlines

SIR – I would like to respond to an article by Zeyar Hein on March 7 on domestic airlines. Complaints on high domestic airfares – many domestic flights are more costly than flights to Bangkok, Hanoi or Kuala Lumpur – and how it is hurting Myanmar’s tourism are gaining traction these days, with recent high-profile […]

Grab Myanmar unveils new services, expansion plan

Following its substantial growth last year, Grab, a Singapore-based technology firm providing the most popular ride-hailing service in Myanmar, announced on Thursday its plans for expansion in the market, according to Alvin Loh, acting country manager of Grab Myanmar. “We have set the bar high but we are eager to raise it even higher,” he […]

Business confidence in Myanmar sinks as scepticism mounts

More European businesses say they have lost confidence in Myanmar due to concerns about the National League for Democracy-led government’s management of the economy compared to the last two years, a new survey shows. According to the latest survey from the European Chamber of Commerce in Myanmar (EuroCham) published yesterday, a majority of firms (81 […]

More Singapore firms planning to invest in Myanmar in next two years

Singapore companies have big plans to expand in ASEAN over the next two years and Myanmar, with its growth potential and overall investment climate, is on the cards for many, according to a recent survey by the Singapore Business Federation (SBF). The survey, conducted from December 2017 to March 2018, collected views from 1036 Singapore […]

Myanmar Fails to Advance in World Bank’s Ease of Doing Business List

YANGON—Myanmar showed no improvement in its overall ranking in the World Bank’s latest ease of doing business index, retaining the No. 171 spot it held last year—and remaining the least favorable ASEAN member country in which to conduct business. Illustrating the ambitious nature of the government’s goal of reaching the top 100 by 2020, Myanmar […]

Counting on coffee for a strong boost in growth

he founder of the Genius Coffee business U Ngwe Tun feels there is good potential for the company’s products in local and foreign markets. While the business is focused on growing, processing and distributing coffee beans, U Ngwe Tun is keen on injecting a dose of innovation into the company. He says he is looking […]

National Planning Law Expects Highest Growth in Telecom, Industrial, Financial Sectors

Amid a slowing economy and complaints from the business community, Myanmar’s parliament has approved a National Planning Law for the 2018-2019 fiscal year which expects to see the highest growth rate in the country’s telecommunications, industrial and financial sectors. On Wednesday, President U Win Myint signed the bill with the approval of the Union Parliament […]

IFC, UMFCCI work to improve food safety in Myanmar

IFC, a member of the World Bank Group, signed an agreement with the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) to help food sector companies address and improve food safety practices. Another goal is to develop the country’s agribusiness sector to increase exports, draw investments, and generate jobs. According to IFC, […]