Will Myanmar’s government cancel Woodside Petroleum Limited’s contracts?

Woodside Petroleum Limited’s (ASX: WPL) dealings with the brutal Myanmar government appear to be getting murkier.The energy company has been touting the prospective lucrative returns it hopes to gain from its investment in Myanmar. “Woodside is one of the largest offshore petroleum acreage holders in Myanmar,” according to the company’s website “Collectively, our nine permits […]

Businesses urge overhaul of banks’ loan policy

Banking experts and senior officers from the International Council of Small Business (ICSB) said Myanmar must change its loan policy to make it easier for businesses to access debt for growth. In Myanmar, loans issued to businesses are approved based on collateral and are mostly extended over a short term. Compared to other countries, the […]

Digitalisation to secure rice farming

BANGKOK (The Nation/ANN) – With the rise in smartphone usage in Thailand, Bayer’s country group head Simon-Thorsten Wiebusch said the next step to improve local rice crops may come from “digitalization” . With the rise in smartphone usage in Thailand, Bayer’s country group head Simon-Thorsten Wiebusch said the next step to improve local rice crops […]

High potential of Myanmar Economy

The topic of economic transformation in Myanmar was thoroughly discussed at the Forum on Myanmar Democratic Transition held from 11 to 13 August 2017 in Nay Pyi Taw. The talks could generally be summed up that despite the slow economic take-off in Myanmar, the good potential of the Myanmar economy will be seen in the […]

Regional Govt to Build Bridges, Underground Road System

The regional government plans to build bridges and an underground road system to connect Yangon’s older and newer sections, announced Chief Minister Phyo Min Thein on July 11. “Yangon is densely populated, and the regional government plans to expand its area. We plan to build a new town on the opposite side of the Yangon […]

Yangon New City Project to be Remodelled with Tower Blocks Included

The current New City project in Myanmar’s commercial capital will be remodelled to accommodate the city’s projected population growth and tower blocks will be part of the new plan, according to a Yangon Region minister. Daw Nilar Kyaw, the regional minister for electricity, industry and transportation, made the remarks on July 10 during a special […]

Sales of apartments booming thanks to instalment payments

Instalment housing under K30 million are experiencing strong sales within the real estate market, according to U Yan Aung, general manager of Asia Construction. “Within the market, sales of instalment housing in the lower price range, ranging from around K10 million, are booming. The majority of the people are purchasing normal apartment units with an […]

Central Bank Turns to Interbank Transaction Rate

​​ The Central Bank of Myanmar will no longer fix the reference rates for currency exchange, said its vice-governor Set Aung. “Currently, the fixing of the reference exchange rate is based on the auction system. The reason is that currency exchange rates between the government and the private exchange counters differ. The central bank is […]

A company of my own’: the rise of Myanmar’s tech pioneers

“It’s always been my ultimate goal to have a company of my own,” says Htun Khaing Lynn, or Zack, as he prefers to be called. Last September the 22-year-old engineering graduate from Myanmar’s eastern Shan state co-founded online truck-pooling service Kargo, which connects individuals and businesses who need to move goods around congested Yangon. Cars […]

Myanmar has 3 Years of Strong Growth Ahead, Says World Bank

​​ Myanmar’s economy will recover from a 2016 slump to expand at over 7 percent for next three years, according to a new World Bank review. But the path is still replete with risks, and many of the imbalances that plague the economy are getting worse. Like the IMF, which lowered its estimate in October, […]