SCB sets up local bank in Myanmar

Siam Commercial Bank (SCB) has set up a bank in Myanmar after receiving a subsidiary business licence from the Central Bank of Myanmar, aiming to expand in the neighbouring market via offline and online platforms. SCB, the country’s fourth-largest commercial lender by assets, notified the Stock Exchange of Thailand on Thursday that it had registered […]

5BB Broadband crowned market leader with fastest ISP network 2020 in Myanmar

5BB Broadband, the service brand of Global Technology Group, has been recognized as the fastest fixed broadband network in Myanmar of 2020 by Ookla, the global leader in internet testing and analysis. 5BB achieved an outstanding Speed Score of 21.58, with a top download speed of 57.97 Mbps and a top upload speed of 43.61 […]

Mandalay’s famed gem market awaits approval to reopen

Mandalay’s Maha Aung Myay gem-trading centre remains in limbo as regional authorities continue to monitor COVID-19 in the country while deciding whether to allow the centre to reopen. On Sunday, a team from the Mandalay city mayor’s office inspected the market’s efforts to prevent the spread of COVID-19, such as by installing washbasins, providing hand […]

More activity expected in Myanmar’s wholesale and retail market this year

Industry watchers are expecting the wider presence of foreign supermarkets and retail malls in Myanmar in the coming year. “The market has been developing quickly. So, I think that within the next one or two years the wholesale and retail market landscape will expand,’’ said U Myo Htwe, Managing Director of Pro 1 Global Company, […]

New law in the works to help set up Myanmar credit market

The Ministry of Planning, Finance and Industry is drafting a Secured Transactions Law with assistance from the International Finance Corporation, U Htun Zaw, Deputy Director General of the Financial Regulatory Department, said. The aim of the legislation is to facilitate the establishing of a modern and formal credit market through which borrowers can take loans […]

Nay Pyi Taw real estate market seeing growth

As more and more people are moving to Myanmar’s capital Nay Pyi Taw, demand in the real estate market has been growing year by year, says Zayar Real Estate Agency’s managing director U Nanda Kyaw. “As new companies and offices move, there are more and more people who want to buy property to set up […]

Corporate dynasties join forces to defy Myanmar market gloom

The Pun corporate empire has secured the support of a fellow Southeast Asian business dynasty, signalling their confidence in the future of Myanmar despite the ineffectual economic reforms and uncertain fallout from the Rakhine crisis. Serge Pun says Asian companies still see value in Myanmar and are “smarter” than their Western competitors. Ayala Corp, a […]

F&N returns to Myanmar market with Emerald Brewery

CONSUMER group Fraser and Neave (F&N) has commenced operations of Emerald Brewery Myanmar, marking its return to the Myanmar beer market. Emerald Brewery, a joint-venture between F&N and local partners, has established a greenfield brewery located in Hlegu Township in Yangon, to brew Chang Lager Beer. F&N previously exited the market when it sold a […]

Post-Brexit UK to keep Myanmar’s trade preferences

Boris Johnson’s government says Britain will maintain Myanmar’s access to the UK market after Brexit goes ahead, whether or not the EU decides to withdraw trade preferences because of human rights violations. “Regardless of how we exit the EU in October, the UK is committed to maintaining GSP [Generalised Scheme of Preferences] standards for Myanmar […]

Low-Grade to High-End: Waking Up the Myanmar Coffee Market

THE SOCIAL CHALLENGE Economic Development Most of the world’s commercial-grade coffee farmers are not paid enough to sustain profitable farms, prompting them to cut down coffee trees. This was the case in Myanmar, which lacked a cohesive coffee value chain to promote coffee globally or within the country, and where there was little knowledge of […]