Myanmar Wants to Modernize Its Banking System

Myanmar is embarking on the first comprehensive audit of state-owned banks in decades, part of a push to modernize the financial system and tackle risks to the nation’s rapid economic growth. The World Bank is working with Aung San Suu Kyi’s government on the project and the results will help to clarify options for restructuring […]

Can Myanmar sustain growth momentum?

YANGON — The World Bank’s forecast on Jan. 30 that Myanmar’s economy will grow by more than 7% annually for the next three years might appear to be overly optimistic. In the latest issue of its Myanmar Economic Monitor, the World Bank said that while growth would most likely be around 6.5% for fiscal year […]

Asia’s New Tiger Economy Fears Currency Slide

​​ Myanmar’s central bank is braced for a deeper slide in the nation’s currency and has little scope to tackle the decline after the kyat fell the most in Southeast Asia, according to one of the monetary authority’s top officials. The kyat has weakened about 10 percent against the dollar in the past six months, data […]

Pocket change: Myanmar banks on mobile money

YANGON – Carrying her wages in wads of cash across Myanmar was once a risky, onerous but unavoidable ritual for maid Khin Myint Oo. But now she just pings off a text to move the money to her children back home as mobile banking sweeps into a country whose people have for decades been locked […]

Australia’s business know how could boost Myanmar

AUSTRALIA’S expertise in agriculture, mining and education is seen playing a key role in Myanmar once Aung San Suu Kyi’s National League Democracy (NLD) takes power next year. MACQUARIE University academic Sean Turnell, an informal advisor to the NLD leadership, says agricultural reform will be a key priority once the government takes power early next […]

Myanmar to Curb Some Investor Incentives, Presidential Aide Says

Myanmar’s parliament is likely to meet before the end of the year to approve legislation that would scale back a number of foreign-investment incentives the government now deems excessive, President Thein Sein’s top economic adviser said. Parliament, which is in recess as lawmakers campaign for Nov. 8 elections, will probably reconvene by early December, Aung […]

Myanmar garment workers long for ‘manufacturing renaissance’

YANGON, Myanmar – Wearing an expression of intense concentration, Myanmar garment worker Htet Myat Nyein stitches jackets bound for wealthy foreign high streets, part of a booming industry fuelling much of the country’s modernization drive. “I learned to sew at this factory,” she tells the Agence France-Presse, her soft voice almost lost in the clatter […]

Myanmar stitching a new economy

YANGON: Wearing an expression of intense concentration, Myanmar garment worker Htet Myat Nyein stitches jackets bound for wealthy foreign high streets, part of a booming industry fuelling much of the country’s modernisation drive. “I learned to sew at this factory,” she says, her soft voice almost lost in the clatter of sewing machines at the […]

Private Insurers Take Hold in Myanmar

Sept. 8, 2015 3:30 p.m. ET YANGON, Myanmar—Over cups of sweet tea at Yangon University, Nyi Nyi Min Htet pitches the benefits of car insurance from his mobile phone to drivers who navigate the chaotic streets of the country’s largest city. But it often proves to be a tough sell. Few Burmese understand insurance or […]