Myanmar execs seek help in fostering human resources

TOKYO — Even as more Japanese companies are eyeing the growing business opportunities in Myanmar, the young country and its more than 50 million people are in need of help in developing human resources in addition to infrastructure, a fact emphasized by several prominent businessmen from the country, speaking at a seminar on Monday in […]

Kawthaung Airport to be Upgraded to Int’l Standard

Tanintharyi regional government plans to upgrade Kawthaung Airport to an international standard facility to attract more foreign flights to southern Myanmar. “We submitted a proposal for Kawthaung airport’s expansion to the union government earlier this year and are still awaiting a decision. If approved, the project will go on (under) the union government’s budget or […]

Tanintharyi Tourism Committee Seeks IFC Infrastructure Support

A tanintharyi development committee, operating under the tourism ministry and chaired by local tycoon Serge Pun, is seeking assistance from the International Finance Corporation (IFC) for the upgrade of infrastructure in Myeik archipelago to boost sustainable tourism, a committee member told The Myanmar Times. The Myeik archipelago is made up of a cluster of more than 800 largely […]

Yoma Launches Agribusiness Finance Program with LIFT

​​ Farmers will have better access to funding under a new Yoma Bank scheme, and can use it to buy much-needed agricultural machinery. The bank announced the launch of its Agribusiness Finance Program (AFP) in Yangon on December 15. The new program cuts the down payment on a hire purchase agreement from 30 percent to […]

Mortgage Financing, Tourism Infrastructure Key to Real Estate Sector – Myanmar Property Awards Judge

​​ The third annual Myanmar Property Awards finished accepting nominees this week, with the shortlist due to be unveiled in May next year. Last year’s ceremony, organised by PropertyGuru, recognised local property conglomerate Shwe Taung Development with the best developer awards, while business magnate Serge Pun picked up the Real Estate Personality of the Year […]

First Myanmar Investment First-Half Profit Jumps 52% on Year

​​ YANGON — First Myanmar Investment said Tuesday its net profit surged by 51.9%, year on year, to 6.2 billion kyat ($29.1 million) in the first fiscal half ended Sept. 30. Revenue at one of Myanmar’s largest public company jumped 49.4% on the year to 74.6 billion kyat. By sector, financial services contributed 67.4 billion kyat to […]

World’s Youngest Stock Market Struggles in Myanmar

YANGON, Myanmar (AP) — The day’s trading is about to begin on the world’s youngest stock exchange, and the MYANPIX index and opening share prices flash across an electronic screen, but barely a footfall or a voice are heard within the cavernous, colonial era building in the bustling heart of Myanmar’s commercial capital. A gilded […]

Myanmar Companies Ramping up Tourism Industry

YANGON — Leading companies in Myanmar are building up the tourism industry in a bid to capitalize on the increasing number of foreign visitors to the Southeast Asian country since democratic reforms took place. First Myanmar Investment signed an agreement in October with its Singapore-listed affiliate Yoma Strategic Holdings and other companies, including SHC Capital Asia, […]

More transparency needed from local business: MCRB

A select few Myanmar firms display a higher level of transparency than most of their ASEAN peers, but many large companies continue to show little interest in disclosure – even when legally required – according to a recent report from the Myanmar Centre for Responsible Business (MCRB). There is huge variation in the approach Myanmar’s […]

A Land Eager to Look Rich: Luxury Brands Edge Into Myanmar

YANGON, Myanmar — “Every man has a crazy hobby,” said U Thiri Thein Than, an automotive engineer from Yangon who also has a home in Tokyo. “For me, it’s cars and watches.” For years Mr. Thiri Thein Than, 40, has done his higher-end shopping overseas. But in March, he visited a boutique that the Swiss […]