Thailand aims to double bilateral trade with Myanmar

THAILAND and Myanmar will strengthen trade and economic cooperation under a strategic-partnership strategy aimed at doubling bilateral commerce within the next five years. The two countries’ governments and private sectors will this week sign 15 memoranda of understanding to promote trade, investment and service growth. Deputy Prime Minister Somkid Jatusripitak will today lead an official […]

Myanmar courting global producers

The Myanmar authorities have sped up efforts in recent months to increase the country’s attractiveness for global manufacturers. The latest move was revealed in September by the Myanmar Investment Commission (MIC) and concerns the move to allow local and foreign investors into industrial zones across the country. This follows requests by companies from Hong Kong […]

No buyers for credit guarantee insurance

Nobody has bought credit guarantee insurance as banks offer limited loans to small- and medium-sized enterprises (SMEs), according to Aye Min Thein, managing director of Myanmar Insurance. Myanmar Insurance started selling loan insurance to SMEs in July. He said: “The banks are disbursing loans to SMEs at the designated amount. But owners who want more […]

Government to reduce restrictions on business sector by March

The government is planning to reduce restrictions on the business sector in March this year, Tin Maung Than, director of the Myanmar Development Research Institute/Centre for Economic and Social Development (MDRI/CESD) told a press conference on sub-national governments and business in Myanmar held at IBC yesterday. Investors who want to do business in Myanmar have […]

IFC provides local bank US$ 5 million for trade financing

YANGON—The International Finance Corporation announced on Tuesday that it has provided a US$ 5 million trade finance facility to locally-owned Myanmar Oriental Bank Limited that will allow the bank to help local companies increase their imports and exports, generate more foreign exchange, and create jobs. This facility will enhance MOB’s capacity to cover the payment […]