Suu Kyi Government Brings Back Myanmar’s ‘Mr. SEZ’

YANGON — Myanmar’s government has brought a key architect of the previous administration’s economic policy back into the fold, aiming to bolster confidence in the business community. President Htin Kyaw’s office on Monday announced the appointment of Set Aung, until recently the deputy governor of the central bank, as deputy minister for national planning and […]

PetroChina Yunnan Refinery to be Operational by June

China National Petroleum Corp, the country’s largest oil and gas producer, aims to start operating its new refinery in the country’s southwestern Yunnan province by June, an auxiliary project of the China-Myanmar crude oil pipeline. The first batch of refined oil products is due in early September, said Yu Mingxiang, a senior engineer at PetroChina […]

The Digital Revolution: From Mandalay to Manchester

In the era of the global digital distribution, products made in Mandalay can be sold in Manchester cost-effectively – the key to that economic miracle is the mobile phone. The Myanmar Times spoke to James Song after his trip to Phnom Penh in Cambodia for the World Economic Forum (WEF) on ASEAN 2017. This year, […]

Government Subsidy of Electricity Bill Hindrance to Development of Sector

​​ Ministers and industry experts say the government’s approach of paying the electricity bill using the union budget is a hindrance to the development of the sector. In 2012, the average export rates per electric unit in Southeast Asian countries can cost up to more than K267 per electric unit: K67 in Brunei, K71 in […]

Government Currently Subsidising Electricity Bill

​​ Ministers and industry experts say the government’s approach of paying the electricity bill using the union budget is a hindrance to the development of the sector. In 2012, the average export rates per electric unit in Southeast Asian countries can cost up to more than K267 per electric unit: K67 in Brunei, K71 in […]

Thai finance firm Group Lease to buy Myanmar microfinance business

Thai motorcycle lessor Group Lease PCL plans to buy 71.9 percent of BG Microfinance Myanmar from Sri Lanka’s Commercial Credit and Finance PLC for an unspecified amount, to take advantage of rising microfinance demand in Southeast Asia. Through the deal, Group Lease will expand its regional presence, adding Myanmar to Thailand, Cambodia, Laos and Indonesia, […]

Myanmar’s Cosmetics Industry Tries to Fend Off Counterfeits, Rampant Illegal Imports

International cosmetics products are widely available in the Myanmar market, but concerns over quality and safety still remain. To learn more about cosmetics products in the market, Myanmar Business Today interviewed U Kyaw Min, chairman of Myanmar Cosmetics Association and president of Shwe Pyi Nan Co Ltd. Myanmar Business Today (MBT): What are Myanmar Cosmetics Association’s […]

Shinhan Card starts microloan business in Myanmar

South Korea’s Shinhan Card Co. launched microcredit service in Myanmar as part of efforts to explore new revenue sources in overseas markets amid dwindling profitability in the local credit market due to falling commission fees. Shinhan Card said on Tuesday that it began operation of Shinhan Microfinance in Yangon, Myanmar. The Korean credit card operator […]

NTT Com launches high-speed broadband in Myanmar

Japan’s NTT Communications has launched high-speed internet services for enterprises in Myanmar, starting with the Yangon area. The company has secured a network service license from Myanmar’s Ministry of Transport and Communications, and has started offering the new Digi-Path Premier service in the market. The service provides dedicated, fully managed circuits from 1Mbps to connect […]

Taiwan turns to Myanmar to fill labour shortage

As Indonesia has decided to gradually stop sending domestic workers overseas, Taiwan is looking to Myanmar to fill the gap. TAIPEI: Taiwan may soon face a labour shortage, after Indonesia decided to gradually stop sending domestic workers overseas. The city is now looking to Myanmar to fill the gap. Most of the migrant workers are […]