Black tea to be first Myanmar product on China’s e-commerce platforms

Yoke The’ black tea will become the first Myanmar product to be sold on China’s e-commerce platforms, said the Myanmar Economic Counselor Office in Nanning, China. A one-year agreement was signed on January 14 between Myanmar’s Tawwin Kanbawza Mountain Co. Ltd and the Guangxi CAEXPO Brand Management Co., Ltd to market and sell the product […]

AYA Bank, AYA SOMPO Insurance and AIA Myanmar launch Groundbreaking Strategic Bancassurance Partnership

The collaboration aims to increase protection and drive insurance penetration in Myanmar. This strategic partnership will enable life, health and general insurance solutions from AYA SOMPO Insurance and AIA Myanmar to be offered across AYA Bank’s extensive branch network throughout the country. U Myint Zaw, Managing Director of AYA Bank, said, “This partnership is an […]

E-commerce not for everyone, some Yangon businesses say

Businesses and entrepreneurs in Myanmar are increasingly turning to social media as they seek new ways to promote their trade amid the COVID-19 pandemic. “The number of businesses that have moved online has doubled since the pandemic began,” according to U Aye Chan, chair of the E-Commerce Association of Myanmar. Among the tools businesses are […]

How the pandemic made fintech matter again in Myanmar

The banking sector made Myanmar distrustful of non-cash transactions – how did the pandemic turn the nation back to financial inclusion? Myanmar was considered Asia’s last frontier market, not too long ago – rich in natural resources and investment potential, but only just emerging to the possibilities of digitization. About a decade later, sweeping reforms […]

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 […]

Firms being selected for Yangon rail loop upgrade

Myanma Railways says it is selecting the firm to upgrade Yangon circular train system in the dry season. An anonymous source said: “The project is planned for about two years now with a loan from Japan. There will be three parts in the plan. First we will install a new signal system and the second […]