Myanmar to establish new credit law to support financing small businesses

The Financial Regulatory Department under the Ministry of Planning, Finance and Industry is in the process of drafting a Credit Guarantee Corporation Law, U Thant Sin, director of the department, told The Myanmar Times. The aim of the law is to support the provision of financing for micro, small, and medium enterprises (MSMEs) by enabling […]

DaNa Facility launches report on small businesses in Kachin State

UK aid-funded DaNa Facility and Dutch development organisation Cordaid has launched their groundbreaking study on small businesses in Kachin State with the aim of unlocking opportunities for these businesses to grow. The report “The Ecosystem for Small and Medium-Sized Enterprises in Kachin State” was launched this week in Myitkyina Palm Spring Resort, which was attended […]

Myanmar urged to develop microinsurance for the poor

Insurance services in Myanmar need to reach out beyond the existing clientele to support households with lower incomes to manage their insurable risks, participants at an industry workshop said. UK-funded DaNa Facility and the USAID’s Private Sector Development Activity jointly organised the seminar on “Promoting Microinsurance in Myanmar” in Yangon on September 9. “It is […]

Taking a successful plunge into the digital pool

More and more young entrepreneurs have begun to start their own businesses in Myanmar have achieved success. Among them is U Ye Myat Min, founder of nexlabs, a digital consultation firm that provides branding, marketing, and tech advice to diverse mix of clients in sectors ranging from retail, finance and for consumer products. U Ye […]

Ministries to hold monthly dialogues to improve private economic sector

The Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) has submitted that regular dialogues will be organized in respective ministries and sectors on a monthly basis to help improve private economic sector and expedite business transactions, according to the 27th Annual General Meeting of UMFCCI. “It is true that […]

VisionFund Myanmar launches loan scheme for factory workers

VisionFund Myanmar recently announced the launch of a new microfinance loan product exclusively for garment factory workers, funded by the Livelihoods and Food Security Trust Fund (LIFT), according to a press release on 16 February. The loans were first launched at the ZES garment factory located in Hlaing Thar Yar Township, with over 160 workers […]

Yangon’s hippest bazaar

Opening in December, Urban 86 will have year round selfie appeal Trendy markets, day and night, have become somewhat of a must-have for cities across Southeast Asia. Since the launch of the Strand Road night market less than 11 months ago, three other pop-up night-markets, all with varying degrees of selfie appeal (proof or it […]

In dirt-poor Myanmar, smartphones are transforming finance

MYANMAR’S democratic transition sometimes seems marked as much by continuity as by change. Depressingly, the army continues its bloody persecution of Rohingya Muslims in the west, for example (see article). But elsewhere moves to open the country’s markets, started by the preceding military regimes, have gathered pace. New commercial and financial services are springing up. […]

Mastercard to keep high growth rate in Myanmar

Ravinder Aurora, executive director for global public policy and community relations at Mastercard, said at a press conference yesterday that the company enjoyed double digit growth in terms of the number of card users and transaction value by using the cards every year. “Currently, I believe there are roughly about 2 million cards within the […]

In Yangon, upfront rents stretch tenants, small businesses

YANGON — As rents in the commercial capital rise, the illegal but common practice of landlords demanding six months’ or even a year’s rent upfront is stretching Yangon’s residential and business tenants to breaking point. Mr Soe Win Maung runs a roadside Shan noodle shop and stays with his wife in the top-floor loft of […]