Myanmar: Asia’s Final Frontier Car Market

Earlier this month I spent four days in Myanmar, the proud and reclusive nation of 52 million sandwiched between India, China and Thailand. My purpose: Work with officials in the Myanmar government to develop plans for a competitive auto industry. The timing could not be better: Fast-emerging and increasingly affordable EV and autonomous vehicle technologies […]

Myanmar’s business confidence plummets as policy uncertainty bites: survey

YANGON (Reuters) – Business confidence among entrepreneurs in Myanmar dropped “drastically” this year due to unclear economic policy, a survey shows on Tuesday, amid growing frustration over leader Aung San Suu Kyi’s management of the fledgling economy. Suu Kyi has identified economic reform as a key goal to complete Myanmar’s democratic transition after decades of […]

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 […]

Myanmar moves to stave off credit crunch

NAPYITAW — Myanmar’s banking system is facing tough new regulations that could take more than $1 billion worth of local currency out of circulation, severely curtail lending and badly hurt the economy if a tight compliance deadline is not eased, senior bankers have warned. The Central Bank of Myanmar published its first set of modern […]

Myanmar Investment Full Year Net Asset Value Increases Over 20%

LONDON (Alliance News) – Myanmar Investments International Ltd said on Monday its full year net asset value increased 20.3% year-on-year to USD29.2 million as its loss widened due to costs relating to joint ventures and operating expenses. Myanmar Investment’s pretax loss widened to USD2.8 million in the financial year ended March 31 from USD2.2 million […]

Garment manufacturing: How to navigate Myanmar’s ethical maze

As it undergoes profound and rapid change, Myanmar is today emerging as one of Asia’s most sought-after hubs for fashion sourcing. The country’s opening-up to the global economy has come after decades of military rule, during which a long period of isolation and internal conflict was followed by an era of gradual disengagement from politics […]

Laukkai casinos thrive under military

Despite nine months of military rule and being declared illegal, the notorious casinos of Laukkai are still thriving in the conflict-torn region on the border with China. In their crisp uniforms, the hundreds of young men and women who work as croupiers have become a well-recognised symbol of the town. Police officers of the Kokang […]

What Burma’s general election means for British business

Burma, the last major territory among the world’s most populous 25 countries to emerge from an extended period of enforced isolation, goes to the polls on Sunday in its first openly contested general election since 1990. More than 90 parties are standing in the election, the first since a nominally civilian government was introduced in […]

Doing good in Myanmar is a murky business for foreign aid groups tied to powerful elites

YANGON, Myanmar – Staff hired to work with the U.S. government’s aid agency in Myanmar are preparing to move out of their office following revelations their landlord is a notorious former spymaster who oversaw the imprisonment and torture of thousands of pro-democracy activists. The debacle surrounding Development Alternatives Inc., a company contracted by USAID to […]

Obama’s West Point Speech Sparks Reaction in Myanmar

RANGOON — Politicians and activists in Rangoon have expressed mixed reactions after President Barack Obama claimed reform in Burma, also known as Myanmar, as a success for U.S. foreign policy. In a speech to graduates of the West Point military academy on Wednesday, Obama said that with the courage of the Burmese people, U.S. diplomatic […]