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Crop insurance begins to take root in Myanmar

Local insurer Global World Insurance Co (GWI) is expanding its crop insurance pilot project with the signing of an agreement with a private contract farming business, U Soe Win Thant , the director of Global World Insurance, revealed. In 2016, Global World Insurance submitted a proposal on offering crop insurance to the Insurance Business Regulatory […]

Creation of new ministry part of Myanmar’s plan to incentivise FDI

In an attempt to reverse a recent decline in foreign investment, Myanmar has set up a new ministry tasked with attracting and facilitating fresh inflows, though concerns over the re-imposition of import tariffs by the EU could cool investor appetite. On November 19 the government established the Ministry of Investment and Foreign Economic Relations, a […]

Frontier Markets Investment Portfolio: A Mining Site in Northern Myanmar

Asia Frontier Capital’s Regional Investment Analyst Scott Osheroff recently traveled to northern Myanmar to visit the mine site of one of its portfolio companies. Myanmar – Liberalization begins to unfold The National League for Democracy (NLD) seems to have potentially finally come to the realization that the economy is suffering and therefore that their party […]

Myanmar Institute of Business acquired by financial adviser

Yangon financial adviser Trust Venture Partners (TVP) has acquired the Myanmar Institute of Business (MIB), an education and training provider for professionals in financial services, for an undisclosed amount. Demand for financial talent has spiked over the past four years, since foreign banks were permitted to open offices in Myanmar in 2015 and the bond […]

EoI, RfP for insurance services invited

Foreign insurance companies which want to provide insurance services, can get Expression of Interest (EoI) and Request for Proposal (RfP), at www.frd.gov.com, an official website of Financial Regulatory Department at Ministry of Planning and Finance. The ministry issued the statement dated January 2, allowing the foreign insurance companies to offer insurance services in the country. […]

High e-commerce potential, but growth stunted, for now

On November 11, 2018, online shoppers in Myanmar purchased goods worth US$90,000 on the Internet within the first hour of Alibaba Group’s global 11.11 sale. It was the first time the Chinese e-commerce giant had opened up the annual event to Myanmar, where just 1 percent of the population is exposed to e-commerce. Alibaba knows […]

Myanmar steps up financial reforms

The government of Myanmar is finally putting its long-anticipated plans for economic liberalisation into overdrive. In the past few weeks it has announced numerous reforms — including insurance liberalisation and further easing of restrictions on foreign banks, the establishment of a credit rating bureau and the formation of a “project bank” to encourage investment, especially […]

Contract farming launched in four districts of Sagaing

Four districts in the Sagaing Region — Sagaing, Shwebo, Monywa, and Yinmabin — are permitting contract farming for production of crops and seeds, said U Than Zaw Oo, the Secretary of the Sagaing Region Investment Committee. “In order to cultivate perennial crops and establish large plantations, investors can rent land by entering into long-term contracts […]

Myanmar remains worst place in ASEAN for doing business, World Bank ranking shows

Myanmar has failed to improve its ease of doing business ranking for the third consecutive year, with the latest figures from the World Bank showing that the country remains the worst place in ASEAN to conduct business. The newly-released 2019 Doing Business rankings by the World Bank showed that Myanmar ranks 171th out of 190 […]

Insurance industry progressing at slow pace, foreign competition needed: AMI

It has been five years since the government first allowed private insurance businesses to offer their services in Myanmar in 2013. But further liberalisation is needed and the authorities have been saying they are close to allowing foreign insurance providers to operate domestically. In August, U Zaw Naing, secretary of the Insurance Business Regulatory Board […]