Myanmar Government reveals economic policy goals

The government has presented its long-awaited economic policy in which it aims to develop a market-oriented system “in all sectors” and establish an economic framework in support of national reconciliation. A 12-point document released today, seen by The Myanmar Times, puts national reconciliation as the top priority, based on a “just balancing of sustainable resource […]

Singapore firms keeping an eye on changes in Yangon

Business associations and companies in Singapore are hopeful that Myanmar will continue to be an attractive investment destination after an election set to reshape the country’s political landscape. The ruling party in Myanmar conceded defeat on Monday after the country held its first free election in 25 years on Sunday, as the opposition led by […]

Mandalay Hopes to Woo Foreign Investors

Myanmar Investment Commission (MIC) will hold an investment fair on September 30 in Mandalay region for the first time, in the hopes of attracting more investment in upper Myanmar. “Our main purpose of holding this fair in Mandalay is to increase foreign investment in Mandalay region, and also to promote Mandalay’s small and medium enterprises. […]

Little growth without loans for small firms

Fujiyama Printing Press would like to grow. The firm sees an opportunity to muscle in to the business of printing daily newspapers, with what it claims is a clear business case and interested customers lined up. Expanding small printing businesses such as this one in Yangon can be an expensive affair. Photo: Thiri Lu / […]

As AEC Nears, Ministry Pushes Anti-Dumping Laws

As the ASEAN Economic Community comes into effect, the overwhelming flow of goods may hurt small and medium enterprises (SME) in Myanmar, leading the Ministry of Commerce to draft antidumping and safeguard laws. U Thein Myint Wai, assistant director at the ministry, said, “When the floodgates of trade are opened, low quality goods can come […]

Myanmar kicks off investment law modernisation

Until March 26, the Myanmar government will welcome civil society consultations on a new investment law, which will combine the Myanmar Citizens Investment Law and the Foreign Investment Law. Titled “The Investment Law of the Republic of the Union of Myanmar”, the law was drafted in cooperation with the World Bank’s financial arm, the International […]

SMID Bank to lend Ks 20 billion to SMEs

The Small and Medium Industrial Development Bank plans to grant loans worth Ks 20 billion to small and medium enterprises this month. “We are checking to approve SME loans for applicants. The lending date is not confirmed yet but it will be within this month. We are expecting to lend a total amount of Ks […]

Chin Industrial Zones to Go Live by FY’14; Set to Boost SMEs

Industrial zone development projects in Chin state’s Hakha and Tedim are expected to be completed by the current fiscal year that started in April, a minister said. The projects are aimed at supporting the development of small and medium enterprises (SME) in Myanmar’s impoverished Chin state, U Ram Mann, Chin state minister for planning and […]

Slow entry of foreign banks hinders small and medium enterprises

As foreign banks are not yet permitted to offer full services in Myanmar and confined to run representative offices, local small and medium enterprises are facing hardship. Some of the SME businessmen said that they have to brace for more expenses and time in running their businesses, including money transactions with foreign countries, and that […]