MYANMAR car importers are fretting that auto sales will continue to drop until the end of 2017 if the government does not come up with a clear, comprehensive auto policy. Soe Tun, president of the Myanmar Automobile Manufacturers and Distributors Association and chief executive of Farmer Auto Showroom, said importers were waiting for the policy […]
As Kyat Soars, Foreign Bulls and Burmese Bears Spar on Growth
June 8, 2016 by
RANGOON — The Burmese kyat has been the best-performing Asian currency against the US dollar so far this year, rising over 10 percent versus the greenback since January. While this trend has excited foreign investors, Burmese analysts remain skeptical about how well the currency’s buoyancy reflects the growth prospects of the real economy. Bloomberg News […]
Kyat Value Grows in Wake of Govt Power Transfer
April 14, 2016 by
RANGOON — Since Burma’s democratic handover of power on April 1, the country has seen a resurgence in the value of the kyat, observers say. Not even a week after a National League for Democracy (NLD)-led government took office, the Central Bank of Myanmar on April 7 reported an exchange rate of 1,192 kyats per […]
Shares Outstanding as Public Bus Company Nears Launch
January 13, 2016 by
Burma’s first public bus company, which is expected to launch routes in Rangoon late this month, has so far raised 3.8 billion kyats (US$2.9 million) in a sale of shares to fund the first phase of the transportation service, according to an official. The project will introduce a Bus Rapid Transit (BRT) system to Rangoon, […]
Myanmar central bank allays currency fears
October 23, 2015 by
Amid widespread anxiety over the impact of the Central Bank’s decision to revoke thousands of US dollar accepter and holder licences, a senior official has promised authorities have no plans to return to old ways. For many years – until 2011, when six commercial banks opened money changers – no ordinary citizen of Myanmar was […]
Burma’s Skills Sector in the Spotlight
July 6, 2015 by
RANGOON — Sources in domestic business circles have welcomed a recent call for British companies to consider investing in Burma’s skills sector, with the UK Trade and Investment (UKTI) office saying a dearth of qualified workers could be remedied, in part, by British education and training enterprises. According to a UN-backed business survey last year, […]
Priority items chosen for National Export Strategy
March 26, 2014 by
In developing the country’s trade sector through an export-led growth model, six products and one service have been chosen as priorities for Myanmar’s National Export Strategy, according to the national consultant responsible for the strategy. “The priority export items have been chosen based on two criteria. One is its potential given the current trading situation, […]
Myanmar FDI jumped by 50% last year
May 8, 2013 by
U Aung Naing Oo also said that investment in the telecom and hotel industries is set to surge this year. Food processing and the garment industries took the lion’s share of the slightly more than US$400 million in FDI in the manufacturing industry last fiscal year, with most of this coming from Singapore, China, Hong […]
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