Myanma Apex Bank gives loans to almost 700 farmers this harvesting season

A pilot project which provides loans to farmers spearheaded by Myanma Apex Bank (MAB) and Myanmar Rice Federation (MRF) has supported almost 700 farmers for this harvesting season to date, according to the MRF. U Ye Min Aung, MRF secretary, said that the MAB has provided medium-term loans to farms in agriculture, livestock and fishery […]

Myanmar will ask China to downsize project, minister says

NAYPYITAW — Myanmar will seek to reduce the scale of a China-led special economic zone project in its western state of Rakhine, Planning and Finance Minister Soe Win said in an exclusive interview. Speaking with Nikkei on Tuesday, the minister, a former Deloitte managing partner, stressed the importance of heeding “lessons that we learned from […]

Inflation rate hits 4.29 pc in May

The average inflation rate in late May stood at 4.29 per cent, a slight increase compared with 4.12 per cent in late April, according to the Consumer Price Index (CPI) and Inflation Rate by the Central Statistical Organisation. In late May, Mandalay topped the list of inflation with 8.51 per cent, followed by Rakhine with […]

Myanmar’s ‘semi-isolation’ shows danger of rejecting multilateralism, minister says

TOKYO — The world must not lose sight of the economic benefits, peace and security deriving from multilateralism, a senior Myanmar government official told a conference here on Tuesday, pointing to his country’s decades of being largely cut off from the international community. “Myanmar is well placed to remind the international community that they should […]

Untangling Myanmar’s trade in human hair

Yangon, Myanmar – Aye Aye Thein, 55, cuts hair for a living at Insein market in the north of Yangon, Myanmar’s largest city. But unlike most hairdressers, she doesn’t charge her customers. Instead, she pays them. The country is a major source of human hair, feeding the global demand for wigs, weaves and hair extensions. […]

Government drafting policy on exporting maids

The Myanmar Ministry of Labour, Immigration and Population is currently drafting a policy regarding sending Myanmar workers abroad, Minister U Thein Swe told The Myanmar Times on International Labour Day on Tuesday. “We will send domestic workers abroad according to our new policy,” the minister said. He added that the ministry is committed to assisting […]

Are municipalities Myanmar’s champions of reform?

2017 was a difficult year for Myanmar. The rocky peace process and crisis in Rakhine have complicated the government’s effort to put together a reform agenda following five decades of authoritarian rule. In such a challenging context, it is easy for bureaucratic inertia to set in and for people within government to become more risk […]

Average inflation rate hits 4.03 pc in March

The average inflation rate in March was 4.03 per cent, with the highest rates reported in Rakhine and Mandalay and the lowest in the Union Territory, according to the figures released by the Central Statistical Organization. Until March of this year, the average inflation rate in Kachin was 5.27 per cent, 4.21 per cent in […]

Confident of long term growth, Serge Pun bets big on tourism, property

Investors looking for clues on where the Myanmar economy is headed may glean some insight from Serge Pun’s recent corporate maneuvers. The 65-year-old Myanmar tycoon has not been idle of late. Last month, units of Peninsula Residences Yangon, a collection of 96 private luxury homes, went on sale. The homes are part of the Yoma […]