Over 90,000 Motorbikes Imported Through Border Trade in April

Myanmar import­ed 95,000 mo­torbikes from China through the Muse border gate, earning the government $30 million in import duty for April, state media has reported. Well-known Chinese motorcycle brands in­cluding Kenbo, Canda, Toyomax and Dayaung are mainly exported to lo­cal markets in Mandalay and other central regions. Demand for bikes is high in rural areas […]

Yoma JCB holds official launch ceremony in Yangon

Yoma Strategic Holdings Ltd. announced that its wholly-owned subsidiary, Convenience Prosperity Company Limited (CPCL), held its official launch ceremony for its JCB heavy equipment products in Yangon on 17 May. CPCL is the exclusive distributor for JCB construction equipment in Myanmar and started operations in January 2017. The official launch ceremony held at Pun Hlaing […]

Rangoon Taxis Need Reform

Rangoon has around 70,000 taxis plying the city’s streets, many owned and run by individuals. There are two local pioneering app-based cab service providers—Hello Cabs and Oway Ride—cultivating a culture in which apps are used to hail taxis in the city since 2016. The two are now set to compete with foreign brands: Singapore-based firm […]

High Rates on Loans for Affordable Homes Are ‘Shutting Poorer Families Out of the Market’

The interest rates charged by banks on loans used to help low-income families purchase affordable hous­ing units are too high, the Chairman of the Myan­mar Real Estate Services Association has said. U Khin Maung Thant said that while it was a“great thing” that banks were providing loans to help people buy afford­able apartments, the rates […]

Australian firms urged to invest in Myanmar

Nick Cumpston, counsellor at the Australian Embassy, said in an exclusive interview that the Australian government would encourage its businesses to seize enormous opportunities in the emerging market, thanks to Myanmar’s potential for faster growth in the near future. According to Cumpston, Australian firms’ interest in Myanmar has been on the rise, driven by the […]

Siemens, MMH join hands for port operations

Siemens, a global powerhouse focusing on the areas of electrification, automation and digitalisation, plans to expand its business in Myanmar by providing Myanmar’s ports with technology and solutions in cooperation with a local counterpart, Myanmar Mahar Htun Co (MMH), according to Christian Beckers, head of business development at Siemens Myanmar and Cambodia. Beckers said in […]

Government Lost Millions of Dollars as Large Firms Paid Rock Bottom Rents for Public Land – Report

Yangon’s govern­ment has lost bil­lions of kyat in po­tential revenue by leasing public space to local firms at rock-bottom rates, a report from the Auditor General’s Office has re­vealed. The report is based on an analysis of the Yangon City Development Com­mittee’s (YDCD) finances, which are not normally made public. Looking at the 2015- 2016 […]

Myanmar to Grant Licences for More Types of Insurance ‘Soon’ as Industry Liberalises

Myanmar finance authorities have submitted a pro­posal to the government on seeking permission to grant operation of all types of insurance servic­es to the private sector. Licenses for all 40 types of insurance plus addi­tional farmers’ insurance and overseas employment life insurance are expect­ed to be granted by the government soon, said U Kyaw Win, […]