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IFC, UMFCCI work to improve food safety in Myanmar

IFC, a member of the World Bank Group, signed an agreement with the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) to help food sector companies address and improve food safety practices. Another goal is to develop the country’s agribusiness sector to increase exports, draw investments, and generate jobs. According to IFC, […]

Japanese investors eye retail sector investments in Myanmar

Wholesalers and retailers from Japan, Thailand and South Korea met with the Ministry of Commerce (MOC) to discuss investments in the Myanmar retail sector, said U Yan Naing Tun, director general of the Department of Trade under MOC. Among the companies was Japanese retailer Aeon Co, which invested in the Myanmar retail sector under a […]

New retail directive well-received, but raises unanswered questions

Myanmar has taken pains to liberalise its economy and draw foreign investors to become more competitive. Over the past two years, it has rolled out major new legislation including the Condominium Law, Investment Law and Companies Law. This year, it released two new directives opening up the education and retail sectors to full foreign ownership, […]

Infrastructure, safety standards needed for LPG industry to take off

The government is now more than half way through its term and time is running out for it to make good on its promise to double Myanmar’s supply of electricity within the next two years. But the government is not without backup plans to help it achieve its goals, one of which is replacing the […]

Lottery sales raise Ks19bn

The Aungbarlay State Lottery Department says it made more than Ks19 billion from selling Ks500 lottery tickets for the six-monthly lottery. The department said more than Ks11 billion would be used for more than 120,000 prizes. It said 42,300,000 tickets had been sold over six months. A total of 47 single and combined alphabets were […]

Soaring rent is squeezing out retailers in Yangon

Retail space rents are increasing as much as 50 percent year-on-year, squeezing not only small and medium enterprises, but also big business, out of profitable areas in Yangon, local businesses and experts said last week. A fruit vender sorts through stock at his Yangon shop. Local shopkeepers admit they are in danger of losing their […]

Govt Crackdown on Imported Alcohol Intensifies, to Concern of Retailers

YANGON — In the past week, the Ministry of Commerce has intensified its crackdown on what it deems illegally imported alcohol, sparking further unrest among retailers, including Myanmar’s biggest supermarket chain City Mart. Most retailers have now stopped sales of foreign booze out of fear for being raided, leading to a shortfall of liquor supplies […]

Myanmar under the microscope

Market research multinational TNS sets up shop in Yangon and says lots of companies want to know what makes local consumers tick. Myanmar’s first international licensed market research consultancy now has more than 10 international clients, after carrying out the largest ever consumer studies in the country. Jason Copland and the TNS Myanmar team pose […]