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Insurance industry progressing at slow pace, foreign competition needed: AMI

It has been five years since the government first allowed private insurance businesses to offer their services in Myanmar in 2013. But further liberalisation is needed and the authorities have been saying they are close to allowing foreign insurance providers to operate domestically. In August, U Zaw Naing, secretary of the Insurance Business Regulatory Board […]

UK aid agency invests $1.1m to build Myanmar’s micro-insurance

The UK Department for International Development (DFID) and a Swiss insurance technology firm are set to invest US$1.1 million (K1.7 billion) in Myanmar’s micro-insurance market. The aim is to reach 600,000 people in a bid to expand and develop the country’s insurance and risk-transfer market. Stonestep AG, a Swiss micro-insurance technical services company, and the […]

Disaster-prone Myanmar presses alert button as monsoon looms

Vice President U Henry Van Thio is a possessed man, running here and there, to check on the preparations of local governments in response to the perennial threats of the monsoon, which is just around the corner. The vice president, who is also chairman of the National Natural Disaster Management Committee, assured that he will […]

Surbana touts smart plans for preventing floods

Severe flooding across Myanmar over the past few weeks has been deemed by many to be the worst natural disaster to hit the country in a decade. In response, the Ministry of Construction has asked for advice on how to prevent such a tragedy happening again in the future, according to Wong Heang, Group CEO […]

Myanmar seafood export to rise

Myanmar’s seafood export is expected to rise this year as the European Union (EU) is implementing a plan to import farmed seafood products from Myanmar following its removal of trade sanction on the country, official media reported Monday. The EU’s planned import of Myanmar’s seafood would help the country boost seafood export, said the New […]