KyoPay Launches Marketplace for Selling and Buying Invoice Receivables

With the goal of creating a financially inclusive business environment, KyoPay is the first digital platform for invoice receivables that offer a fast, simple, and secure way for businesses in Myanmar to improve cash liquidity. The online marketplace is for invoices receivables, which aims to help Small and Medium Enterprises (SMEs) boost cash flow. One […]

State Counsellor urges entrepreneurs to help grow nation’s wealth

Myanmar’s business community has an important role to play in ensuring the country’s political voice is heard on the global stage, State Counsellor Daw Aung San Suu Kyi said at the meeting between government officials and business persons and at Myanmar Convention Centre in Nay Pyi Taw yesterday. She said the reason Myanmar’s political voice […]

Chamber backs SMEs to embrace digital technology

As small and medium enterprises in Myanmar are facing challenges, the Union of Myanmar Federation of Chamber of Commerce and Industry is encouraging small and medium-sized enterprises to pursue digital competency to ensure their long-term survival, a chamber executive member said in an exclusive interview. Aye Tun, vice president of the chamber’s SMEs Committee and […]

Warm response seen to ‘Myanmar Insight’ in Bangkok

GIVEN the rising interest in Myanmar’s economy this year, nearly 500 Thai businesspeople are expected to gather at the Myanmar Insight 2018 to be held in Bangkok next month, according to Nattawin Phongsphetrarat, vice president of Thai Business Association of Myanmar (TBAM). He said at a press conference yesterday that the event would be held […]

Singapore-based Hayman Capital to provide loans to local SMEs

Hayman Capital based in Singapore is providing micro finance services for local small and medium enterprises, and loans will not be limited to businesses currently in operation. Hayman Capital has being doing business in Myanmar for over three years and profits were reported only for two years. The service is due to be extended later. […]

Yangon focuses on creating growth opportunities, raising living standards

The Yangon Regional Government is drawing up a master plan with the aid of the Japanese International Cooperation Agency and Korea International Cooperation Agency to transform Yangon into an economic hub with job and business opportunities for residents and investors, according to a report on the government’s performance by state-owned media yesterday. Topping the list […]

SMEs need more funding, support system to expand further

Efforts to support small and medium enterprises (SMEs) over the past three years have so far not been sufficient to generate meaningful growth for the economy, experts said. While a higher volume of loans were dished out by state-owned and local banks, only a few SMEs have successfully expanded their operations in the past three […]

Fighting against potential financial risks

Reading through the 7/2017 directive by the Central Bank of Myanmar (CBM) on the implementation of the Asset Classification and Provisioning Regulation, the words and phrases that captured my attention were: “cash flow pattern of the borrower”, “credit risk analysis” and “term loans with up to a maximum maturity of three years.” These technical terms […]

Financial services among the fastest growing sectors in Myanmar

The financial sector rose the most among 15 sectors managed by the government in the first six months of the 2017-18 fiscal year, growing 22 percent as a result of the implementation of new financial services, U Set Aung, deputy minister of the Ministry of Planning and Finance, at Pyidaungsu Hluttaw meeting on Thursday. “If […]