Myanmar Wants to Modernize Its Banking System

Myanmar is embarking on the first comprehensive audit of state-owned banks in decades, part of a push to modernize the financial system and tackle risks to the nation’s rapid economic growth. The World Bank is working with Aung San Suu Kyi’s government on the project and the results will help to clarify options for restructuring […]

Yangon new bus system gets moving

The residents of Myanmar’s main commercial city are slowly adjusting to the new transport system, introduced nearly a month ago by the region’s chief minister. “It was chaos to begin with, but now we’re getting used to it,” office worker Mi Mi Chan told Asia Focus as she waited to catch her bus to work […]

Japanese companies flock to Myanmar

Japanese companies are trying to court Myanmar’s growing middle class. On Dec. 29, Honda Motor opened its 115th motorcycle dealership in the country, in Myitkyina, the capital of the state of Kachin. The Japanese company opened five dealerships in Myanmar in December alone — all in smaller cities. The total number was up 40% from […]

Myanmar moves forward with 66-MW Maingwa hydroelectric project

Myanmar is moving forward with plans to build the 66-MW Maingwa hydroelectric project on Nantlway Creek in area controlled by National Democratic Alliance Army. Myanmar’s Ministry of Electric Power (MOEP) and special-purpose company, Shan State East Development Company Ltd., signed a contract on March 22 under a build-operate-transfer (BOT) system to implement the Maingwa project in […]

Myanmar investors swot up for new bourse

YANGON – Inside the graceful halls of Myanmar’s first modern bourse business leaders crowd into a crash course on sharetrading, as the former junta-run country takes another leap towards economic revitalisation. Rangoon Stock Exchange (YSX) is due to debut its first listed company on Friday, just days before a new civilian government overseen by Aung […]

Foreign firms’ future in Myanmar mining hangs on details

A new amendment has the potential to fundamentally alter the economics of mining in Myanmar and draw a new round of foreign companies to the country. But with commodity prices dropping firms are searching for the most favourable fiscal regimes, and the outlook for Myanmar rests heavily on regulations now being drawn up. A long-awaited […]

Myanmar to draft two new investment laws

Japan remains committed to Myanmar Japanese companies invested US$22.8 billion in Singapore, Thailand, Indonesia, Malaysia, the Philippines and Vietnam in 2013, according to the Japan External Trade Organisation (JETRO). The trend is strong, following the first wave of Japanese investment in the 1980s and 1990s, which helped build up automotive and electronics sectors in Thailand, […]