Deep-sea port needed for delta region to boost logistics

The recommendations are published in the position paper released by the European Chamber of Commerce Myanmar (EuroCham) in June as part of EuroCham’s annual White Book. The publication highlighted the need for Myanmar to establish deep-sea ports in order for the country to realise its geographical advantage and become a logistics hub in Asia. Despite […]

Despite Teething Issues in MFI Sector, Hayman Capital Aims to Double Myanmar Operation in 2017

​​ Singaporian microfinance institution Hayman Capital plans to double the size of its Myanmar operation in 2017 in the wake of last year’s much welcomed regulatory changes to the government’s 2011 microfinance law. In December last year Hayman Capital Co Ltd announced it had passed K4 billion in outstanding loans, growing 129% since April 2016, […]

Kawthaung Airport Upgrade to Bring International Tourists

​​ Kawthaung airport in southern Myanmar will be upgraded to accommodate international flights to boost tourism in the Myeik archipelago. Union Tourism Minister U Ohn Maung told The Myanmar Times last week that the Tanintharyi regional government and the Ministry of Hotel and Tourism have held discussions with the Ministry of Finance on extending the […]

Taxis Push for Higher Fares on Fuel Price Rise

Taxi drivers are complaining that higher fuel prices are eating to profits because the public refuses to accept higher fares. The price of 1 litre of fuel has risen by roughly K100 in the last month, according to U Soe Min Myo, a taxi driver living in North Dagon. Fuel prices vary depending on the brand – […]

Insurance market will be open to foreign firms in 2017: ministry

The government is planning to open Myanmar’s struggling insurance industry to foreign firms early next year and free local players from an array of restrictions – part of a coordinated push to speed up liberalisation in a sector crucial to economic development, a senior government official told The Myanmar Times. “We’re going to speed up liberalisation, […]

Citizens Bank targets July listing

Myanmar Citizens Bank hopes to become the third company to list on the Yangon Stock Exchange in early July, managing director U Myint Win said yesterday. The bank has met the requirements set out by the exchange and hopes “to be listed as soon as possible”, he said. MCB was one of six companies that […]

Securities and Exchange Commission Chairman Steps Down

RANGOON — In a surprise move, the chairman of the Securities and Exchange Commission submitted a letter of resignation on Thursday to step down from his current post. Also Burma’s former deputy Finance minister, Maung Maung Thein has played an integral part in the Ministry of Finance for the past three years amid a series […]

Yangon Stock Exchange on Track for March Trading Debut

RANGOON — The Yangon Stock Exchange (YSX) is expected to begin shares trading by the second week of March, with dry-run testing already underway, an official from the Securities Exchange Commission of Myanmar (SECM) told The Irrawaddy on Monday. Though the YSX officially “launched” late last year with six companies listed, no shares have yet […]

Yangon Stock Exchange to open amidst suspicion

Many analysts believe the Yangon Stock Exchange, which will be fully operational by March this year, is opening with unfair advantages and possible conflicts of interests. The Yangon Stock Exchange (YSX) automatically entered the US sanctions blacklist as the Myanmar Economic Bank, an entity already sanctioned by the US Treasury Department’s Office of Foreign Assets […]

Savers stuck with bank deposits despite negative real rates

Bank accounts remain the most popular choice of investment for savers, despite inflation running higher than commercial banks’ deposit rates, said financial industry sources. Bank workers count cash in a branch in Yangon. StaffBank workers count cash in a branch in Yangon. Staff Sources at several commercial banks said there had been no decrease in […]