CMP garment exports rise last FY despite COVID crisis

<a href=”https://youtu.be/pCvYiQYDHcE” target=”_blank”><img src=”https://consult-myanmar.com/wp-content/uploads/2013/10/doingbusinessinmyanmar-thumbnail2.jpg” width=”600″ height=”250″ /> </a> Myanmar’s garment export sector, which constitutes over 20 per cent of overall export value, stepped up amid the coronavirus impacts. Exports of garments manufactured under the cut-make-pack (CMP) system were valued US$4.798 billion in the last financial year 2019-2020, according to the data from the Ministry of […]

Investment applications to go online in Myanmar

The Directorate of Investment and Company Administration (DICA) will launch an Online Investment Application function to facilitate the investment process with the aim of attracting responsible investors, said U Thant Sin Lwin, Director General of DICA. The new function permits companies to carry out the process for proposed investments online without having to physically go […]

Plastic recycler gets funding as pollution awareness rises

Fund manager Delta Capital Myanmar recently announced it had invested US$12.6 million in Commercial Plastics Co Ltd (CPC) of Yangon, which recycles post-consumer plastic bottles collected from all over the country. The investment, made via Delta Capital’s Myanmar Opportunities Fund II and Daiwa PI Partners’ Daiwa Myanmar Growth Fund, will enable CPC to buy equipment […]

One million acres of cornfield farming contracted in Shan

The Shan State Government is planning to cooperate with private investors and farmers to cultivate one million acres of maize under a contract farming arrangement in Shan State. This would expand the existing maize acreage in Myanmar by around 50 percent as there is now about 1.9 million acres of cornfields in the country, with […]

Hong Kong investors eye new opportunities in Myanmar

Hong Kong business and those already present in Myanmar expressed a keen interest in Myanmar’s significant investment potential including areas as diverse as energy, transport, banking and finance, retail and services during a recent webinar organized by the Myanmar-Hong Kong Chamber of Commerce and Industry. As a guest of honour delivering a keynote address, U […]

What next for Myanmar-West relations?

In business, a strong reputation is rarely guaranteed. Goodwill matters greatly, and must be defended to ensure an organization’s continued success. The same is true for nation-states. Stature is essential in procuring trade, investment, and broader support for one’s economy. Unfortunately for Myanmar, its brand is suffering. Almost five years after international newspapers adorned their […]

Myanmar FDI approval misses target, but huge projects expected this year

Myanmar saw US$5.7 billion worth of foreign direct investments (FDI) approvals during fiscal 2019-20, just around US$100 million shy of its US$5.8 billion target, said U Thant Sin Lwin, Director General of Directorate of Investment and Company Administration. The shortfall was due to the COVID-19 pandemic, which hampered the flow of investments into Myanmar since […]

What Myanmar’s proptech industry is doing to stay afloat despite COVID-19

Since the first cases of COVID-19 were announced on March 23, the local economy in Myanmar, including the real estate industry, went into a rapid downward trend, especially due to the closure of borders, airports, public transport and blocked imports of building materials necessary for developers’ construction sites. By April, all major cities including Yangon […]

Indian investors interested in Myanmar opportunities, but more govt support needed

Despite travel restrictions and other setbacks as a result of COVID-19, investors from India have shown a great interest in expanding into Myanmar and some have even proposed novel ideas on boosting business and trade between the two countries, said Sunil Seth, President of the India-Myanmar Chamber of Commerce (IMCC). Since international flights to and […]

Myanmar’s fintech startup NearMe raises 7-digit funding from Sumitomo Corporation

Myanmar fintech startup NearMe has raised a 7-digit US dollar funding from Japanese conglomerate Sumitomo Corporation to enhance digital payments access for its SMEs clients. Founded in 2015, NearMe (formerly known as 1-Stop) provides a retail digital services platform for its retailers and agents, mostly SMEs, to do transactions such as goods purchases, loan repayment, […]