fbpx

Manufacturing key to Myanmar’s growth

Myanmar has been transitioning to a more open and market-oriented economy over the past few years. While progress has been made throughout the economy, manufacturing has witnessed rapid expansion, accounting for 15 percent of GDP in 2007 but growing to 24pc in 2017. Garment manufacturing, in particular, has grown rapidly, with exports expected to surpass […]

The Price of Gold Reaches a New Record High

The price of Gold (99% pure gold) in local markets has set a new record high, reaching over K1 million per 1 tical (16.32 gram) on September 19. Meanwhile gold price in global market was at $1,300 per ounce in May and dropped to $1,205 on September 17. But the gold price hike in local […]

Organic Poultry Farm Makes Waves in Yangon

Shwe Taung Nyo Gyi farm is making waves in Yangon with its local, organic poultry and natural eggs. The farm, founded in 2017 by friends Zaw Ye Naung and Marn Thu Shein, is certified by the Myanmar Organic Agriculture Group (MOAG). “We are both fathers who wanted to feed healthy, chemical-free foods to our children. […]

Yangon Tyre fends off competition for more growth as demand rises

Yangon Tyre, a homegrown tyre maker, wants to grow its local market share as demand for rubber tyres rises in tandem with various types of vehicles in Myanmar. “As more infrastructure is developed and existing road conditions improve, there will be less need to replace damaged tyres, but the number of vehicles on the roads […]

Illegal trade more rampant than before, govt measures not effective

Government efforts to prevent illegal border trade have not been effective or sufficient and counterfeit goods are still being smuggled into the country. In fact, things are worse than before. “Illegal trade can’t be controlled. Illegal trade is worse than before even though measures were taken to reopen some of the border gates by the […]

Ministry plans to stabilise fuel oil price

In an attempt to control rising fuel oil prices, eight State-owned fuel filling stations will directly sell fuel at a fair price as of July 1, according to the Ministry of Electricity and Energy. Rising fuel prices are coupled with an increase in the global fuel price and currency exchange rates. The ministry will sell […]

Yangon Taxi: A ride of terror for single women at night

Passengers and taxi drivers have everything to gain from stricter rules. It was late at night. She argued about the taxi fare – as we all do. After the ride, the driver raised the price – as they often do. But this time things took a nasty turn. The passenger, a young girl, refused to […]

60 pc of investments in Thilawa SEZ target local market

There are 85 local and foreign investments in Thilawa Special Economic Zone Project, with most of them targetting the local market. Sixty per cent (51 businesses) of the total investments target the local market, 29 per cent (25 businesses) traget the export market, and nine per cent service the distribution sector, according to Thilawa SEZ […]

Ajinomoto spices up Myanmar offensive

TOKYO — Ajinomoto will bring production of seasonings long sold in Thailand to Myanmar, part of a broader push to expand operations into one of Southeast Asia’s most promising consumer markets. The Tokyo-based company aims to reach 10 billion yen ($90 million) in sales in Myanmar in several years. A production line for the Ros […]

Myanmar’s business community must tap cluster potential to compete on global scale

“There are clusters formed by firms in similar sectors. In the Mandalay Region, the Directorate of Industrial Supervision and Inspection formed industrial clusters since 2014 and there are now 111 groups in 15 industrial clusters.” “But the business community in Myanmar is not very interested in this potential,” he said. “Businessmen here prefer to work […]