Government will provide loans in 2017 to develop the SMEs

Japan International Cooperation Agency (JICA) will provide Ks 15 billion loan through the government to develop small and medium enterprises (SMEs) in 2017, according to Directorate of Industrial Supervision and Inspection Department under the Ministry of Industry. JICA will provide the loan with the low interest. The loan will be in the form of two- […]

ADB moves in Myanmar as trade finance hopes grow

Hopes of opening the Myanmar trade finance sector are growing, after the Asian Development Bank (ADB) issued its first guarantee in the country. As part of its Trade Finance Programme (TFP), the ADB guaranteed a letter of credit issued by Banca Popolare di Sondrio of Italy to local lender United Amara Bank (UAB), one of […]

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 […]

Japanese chamber makes proposals to Suu Kyi to promote investment

A visiting Japanese business delegation proposed policy measures to address major challenges impeding Japanese investment into Myanmar in a meeting Friday with the country’s leader Aung San Suu Kyi, state media reported Saturday. During the meeting in the capital Naypyitaw, the delegation of the Japan Chamber of Commerce and Industry, led by its chairman Akio […]

Myanmar garment sector gets €2.8 mn EU boost

Small and medium enterprises in Myanmar’s garment sector are set to get a 2.8 million euros boost from the European Union. The cash infusion will support the second phase of a development initiative that aims to make the “Made in Myanmar” industry more competitive by building environmental awareness, sustainability and social protections for the workers. […]

Myanmar firms jittery over upcoming AEC

YANGON • Urbane, British-educated Thuta Aung, general secretary of a trade task force from Myanmar’s Ministry of Commerce, ventured to the rural riverside town of Hpa-an in the country’s south-east last month. The town sits on the banks of the Thanlwin about 300km from Yangon, the commercial centre of about 420,000 people. It is the […]

Burma Signs Trade Finance Agreement with ADB

RANGOON – Burma’s government signed a framework agreement with the Asian Development Bank on Wednesday that will allow the latter to introduce its Trade Finance Program (TFP) to the country. In a statement issued by the Manila-based institution on Wednesday, Maung Maung Thein, Burma’s deputy finance minister, welcomed the program which he said will enhance […]

KBZ Bank on Myanmar’s strong future

Wide-reaching regulatory changes mean that there are far greater opportunities for Myanmar’s emerging banking sector The financial industry in Myanmar is in a phase of momentous transformation, with new market entrants in the banking sector, both local and foreign, the emergence of the private insurance sector, and the launch of the Yangon Stock Exchange driving […]

Foreign banks call for market access

Greater competition from international banks would encourage local lenders to move away from a small pool of high-net-worth clients to start offering products and services to those who need it most, said panellists at the Myanmar Banking and Finance Conference in Yangon yesterday. “If more foreign banks come into the market it will increase competition […]

Myanmar’s tourism bank waits for green light

YANGON, 24 July 2015: Myanmar’s Central Bank has still to grant permission for a yet-to-open Tourism Development Bank, that will help to fund travel industry projects and SMEs in tourism. Eleven Myanmar media quoted Myanmar Tourism Bank managing director, Than Tin, saying: “We expected to get the license in May. But it is still pending […]