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 […]

Public Shares in Thilawa SEZ to Go on Sale Next Month

YANGON — Myanmar Thilawa SEZ Holdings Public Ltd announced it will issue shares for sale next month in order to raise about US $21 million to fund the first phase of the Burmese-Japanese Thilawa Special Economic Zone (SEZ) near Yangon. Set Aung, a government official who chairs the Thilawa SEZ Management Committee, and Win Aung, […]

Yangon industrial complex on way

YANGON – Construction on a joint venture industrial complex between Japanese and Myanmar companies has gotten under way in Yangon with an official ribbon-cutting and groundbreaking ceremony. Upon completion in 2015, the industrial complex in the Thilawa Special Economic Zone, about 20 km south of central Yangon, is expected to draw businesses involved in apparel, […]

Construction starts on Japan-Myanmar JV industrial complex in Yangon

The construction of a joint venture industrial complex between Japanese and Myanmar companies started Saturday in Yangon with an official ribbon-cutting and ground-breaking ceremony held at the site. The industrial complex, located inside the Thilawa Sepecial Economic Zone, about 23 kilometers south of the city center of Yangon, is expected to draw businesses involved in […]

Ahead of Elections, Thilawa Pitched as Jobs Booster

YANGON — Officials hope that the soon-to-start “Special Economic Zone” at Thilawa near Myanmar’s commercial capital Yangon will underpin a jobs boom in time for the country’s 2015 elections. Building work at the 6,000-acre Thilawa SEZ will begin soon, according to Set Aung, deputy governor of Myanmar’s Central Bank. Set Aung told The Irrawaddy that […]