fbpx

China’s coronavirus hits Myanmar economy

China’s coronavirus epidemic is hitting Myanmar’s important manufacturing and tourism industries as well as disrupting border trade, but in the longer term the crisis could encourage more supply chain factories to relocate from its giant neighbour. “We have lost all our customers,” said Ma Khin Khin Win, director of tourist agency Myanmar YoYo Travels and […]

Locals strive to develop other industries in bid to preserve Mogok’s natural resources

While Mogok is known for its mining of precious gems as its main industry, local elders are teaming up with relevant government departments to improve their travel industry in order to reduce damaging the natural environment. Restrictions for international travelers to Mogok were relaxed in September 2018 and nearby villages of Bernard, Panlin, and Kaukpyathat […]

Extractive businesses asked to disclose ownership information

Companies and state-owned enterprises (SOEs) involved in Myanmar’s oil and gas production and transportation, mineral and gemstone industries are required from January 1 onwards to publicly disclose information on beneficial ownership and politically exposed persons. This is in accordance with Notification No.104/2019 dated October 2019 and in line with Requirement 2.5 of the Extractive Industries […]

In sleepy Mawlamyine, Myanmar youths can’t wait to leave as city becomes shadow of its former self

Mawlamyine (or Moulmein) in Myanmar is one of those Southeast Asian cities like Sandakan (Malaysia), Bacolod (Philippines) and Songkhla (Thailand) – where the past looms large but the present seems faded and unpromising. The kinds of places that young people yearn to leave in search of jobs and money. Home to just under 300,000 residents, […]

Sichuan Airlines arrives in Yangon

Sichaun Airlines launched its first flight to Yangon (RGN) on 13 November, the day in which it started services from Xi’an (XIY). The 2,317-kilometre connection will be flown three times weekly using A320s, with the route facing no direct competition. Jose Angeja, COO, Yangon Airport said: “Sichuan Airlines connects Yangon, the commercial capital of Myanmar, […]

Loan scheme hinders SME growth

The availability of loan is one of the major challenges for development of Small and Medium-sized enterprises (SMEs) in Mandalay region, according to a talk on the challenges of the SMEs. Head of Mandalay Region SME Department said: “The major challenges of SMEs in Mandalay are: capital, technology, market penetration, access to information and infrastructural […]

New Minimum Wage comes into effect in Myanmar from today

Washim Mia, Staff Reporter (RMG Times) The Government of Myanmar announced that the new minimum wage structure for the garments workers set at 4800 Kyats per day rate will be legally effective from today, 14 May 2018, in the country. This is an increase of 33% on the previous minimum wage rate of K3600 which […]

Myanmar Takes Small Steps Towards Providing Greater Liquidity for SMEs

A rising number of start-ups as well as small and medium enterprises (SMEs) are emerging in Myanmar as business opportunities rise. However, many companies fail to achieve their full potential and contribute substantially to the economy because capital assistance is lacking in the country. In Myanmar, banks require collateral in the form of property before […]

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 […]

MCL Transports 150,000 Tons of Coal for Factory’s Operation

Mawlamyine Cement Limited (MCL) has already transported 150,000 tons of coal to its factory site in the Pyartaung Mountain area, Kyaikmayaw Township, Mon State. With permission from Myanmar Investment Commission and Myanmar Seaport Authority, MCL has been transporting coal up Attaran River in order to power its operations, since February, 2015. “Starting in early 2017, […]