fbpx

Myanmar renews SEZ push

Myanmar’s special economic zones (SEZs) are a central part of a revitalised economic strategy in which increased manufacturing activity will play a key role. And breathing renewed life and energy into stagnant or stalled SEZs has moved to the top of the government’s agenda. “SEZs promote the transfer of technology, encourage infrastructure development and attract […]

Myanmar needs help in talent development

Myanmar needs help in developing its local talent base and looks to investors for the boost, business leaders said Monday at the Myanmar Economic Seminar. “We have an abundance of hardworking, young people, but lacks manager-level workers capable of leading the local staff,” said Takayoshi Nakatani, managing director of the local subsidiary of the Japanese […]

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 […]

Suu Kyi Government Brings Back Myanmar’s ‘Mr. SEZ’

YANGON — Myanmar’s government has brought a key architect of the previous administration’s economic policy back into the fold, aiming to bolster confidence in the business community. President Htin Kyaw’s office on Monday announced the appointment of Set Aung, until recently the deputy governor of the central bank, as deputy minister for national planning and […]

Myanmar’s fast track to financial fruition

Much progress has already been made in Myanmar’s financial markets since the country’s liberalisation in 2011, and now it is on the brink of refining its banking laws and establishing the Yangon Stock Exchange. Myanmar’s financial sector is starting to gain the characteristics that make it look like a newly emerging market, as opposed to […]

Two new private banks to open early next year, recruiter says

Two new banks have already begun recruiting staff ahead of their planned opening early next year, according to the company recruiting for them, Myanmar Tech Solution. Both are in the process of applying for banking licences from the Central Bank of Myanmar. Set Aung, deputy governor of the central bank, said recently that it was […]

Unreliable networks stem cash flow at Myanmar’s ATMs

Myanmar, one of the final frontiers for the international financial system, now boasts over 2,000 automatic teller machines (ATM) and credit card services provided by global brands such as MasterCard and Visa. Yet in a country where electricity is provided in fits and spurts, and internet connection is difficult to guarantee, online banking and ATM […]

ANZ faces Myanmar bank hurdles

THE ANZ Banking Group is bidding for a banking licence in Myanmar but faces major challenges in doing so. UP to 40 institutions are lining up to open offices in the country, even as the central bank is set to impose tough operational restrictions. Myanmar is undergoing major economic reforms and liberalisation in the process […]

Thilawa SEZ to allow construction of factories this month

The Thilawa Special Economic Zone is to commence the construction of factories by this month, according to Win Aung, chairperson of Myanmar Thilawa SEZ Holdings. “Factories construction will be allowed late this month. The aim is to prevent the resale of plots bought in the zone. We sell plots to buyers according to their proposals […]

Manufacturing could start in Myanmar’s Thilawa zone in mid-2015

Feb 21 (Reuters) – About 40 foreign manufacturers are interested in setting up in the Thilawa economic zone being developed with Japanese help outside Myanmar’s main city, Yangon, and commercial operations could start in mid-2015, a Myanmar official said. Myanmar has opened up since a quasi-civilian government took office in 2011 after decades of military […]