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Yangon CM says region economy run by over 30,000 MSME businessmen

Yangon Region Chief Minister Phyo Min Thein said that there were over 30,000 businesses of Micro, Small, Medium Enterprises (MSMEs) registered as business entities in the Yangon Region and they run the region’s economy. “We compiled the list of these businesses by using digital technology. Over 30,000 businesses are registered in the region and our […]

Myanmar Aims to Increase Exports of Rice Husk-to- Biomass Products

Some Myanmar businesses are hoping to receive technical and financial support from the government to convert rice husks into biomass products for export purposes. Rice husks are the hard protecting layers covering each grain of rice. These are discarded during the rice milling process and can be converted into building materials, fertilisers, insulation material or […]

Myanmar Takes Small Steps Towards Providing Greater Liquidity for SMEs

A rising number of start-ups as well as small and medium enterprises (SMEs) are emerging in Myanmar as business opportunities rise. However, many companies fail to achieve their full potential and contribute substantially to the economy because capital assistance is lacking in the country. In Myanmar, banks require collateral in the form of property before […]

Finance Minister Admits Economy is Underperforming

NAYPYITAW — Planning and Finance Minister U Kyaw Win has admitted that Myanmar’s economy has not improved as well as expected, six months after he compared the country’s economy to a jet plane about to take off. “There are suggestions that the country’s economy has not picked up as we expected. Considering the current situation, we […]

Toddy Climbing Business Faces Fall

It takes a great deal of bravery to climb up one of the 50 metre toddy palm trees outside Mandalay. Aung Zaw, a “tapper” or “climber”, has done it for 15 years. Strong winds, shaky ladders, slippery rugs, almost nothing scares him. Today, however, he fears for his job as the toddy industry is in […]

Construction Industry in Decline in Early 2017

Almost 90 per cent of the construction industry of Myanmar is led by small and medium Enterprises (SMEs) and the industry’s ability to make profit has been declining since early 2017, according to Myanmar Builders Guide (MBG). Almost 5 per cent of Gross Domestic Products of Yangon Region is generated from the construction industry. Among […]

Time to Fix the Economy With Action, Not Words

Economists and business owners, while acknowledging and applauding the measures put into achieving peace and stability, say the National League for Democracy-led government has largely ignored the economy during its first year in power. Some experts and entrepreneurs told The Myanmar Times that the government needs to focus on ways and means of stimulating economic growth and […]

MEB, six private banks to lease K30 billion to SMEs

Myanma Economic Bank, teaming up with six private banks will give K30 billion loans to small and medium enterprises (SMEs), according to Ministry of Industry. The country’s SMEs can acquire loans from the Myanma Oriental Bank, Ayeyawady Bank, from Co-Operative Bank (CB), commonly known as CB Bank, the Myanmar Citizens Bank, the Kanbawza Bank and […]