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New policies unavoidable if Myanmar is to keep up in AEC

With just three months remaining before it is due to join the Asean Economic Community (AEC), time is running out for Myanmar to improve its economic policies and prepare local businesses for foreign competition. By January 1, 2019, Myanmar, together with the other CMLV countries, which includes Cambodia, Laos and Vietnam, will officially be part […]

Myanmar allows up to 80% of foreign investment in agriculture sector

Foreign businesses have been allowed to invest up to 80 percent in Myanmar’s agriculture sector instead of 49 percent, according to Myanmar Investment Commission (MIC). “Previously, the agriculture sector seemed to protect local businesses. At that time, a foreigner was allowed to invest 40 percent while a national had the chance to invest 51 percent. […]

Chamber backs SMEs to embrace digital technology

As small and medium enterprises in Myanmar are facing challenges, the Union of Myanmar Federation of Chamber of Commerce and Industry is encouraging small and medium-sized enterprises to pursue digital competency to ensure their long-term survival, a chamber executive member said in an exclusive interview. Aye Tun, vice president of the chamber’s SMEs Committee and […]

New retail directive well-received, but raises unanswered questions

Myanmar has taken pains to liberalise its economy and draw foreign investors to become more competitive. Over the past two years, it has rolled out major new legislation including the Condominium Law, Investment Law and Companies Law. This year, it released two new directives opening up the education and retail sectors to full foreign ownership, […]

Tussle over Myanmar bank reform puts spotlight on debt pile

NAYPYITAW (Reuters) – Myanmar’s central bank has backed off from a demand that the country’s private banks clear most of their loan books by January, averting a cliff-edge scenario that some bankers warned could have destabilized the financial system. Myanmar’s central bank deputy governor, Soe Thein, told Reuters that three years – instead of the […]