Manufacturing key to Myanmar’s growth

Myanmar has been transitioning to a more open and market-oriented economy over the past few years. While progress has been made throughout the economy, manufacturing has witnessed rapid expansion, accounting for 15 percent of GDP in 2007 but growing to 24pc in 2017. Garment manufacturing, in particular, has grown rapidly, with exports expected to surpass […]

Inflation rate hits 4.29 pc in May

The average inflation rate in late May stood at 4.29 per cent, a slight increase compared with 4.12 per cent in late April, according to the Consumer Price Index (CPI) and Inflation Rate by the Central Statistical Organisation. In late May, Mandalay topped the list of inflation with 8.51 per cent, followed by Rakhine with […]

Tanintharyi’s Citizen’s Budget to Focus on Infrastructure Development

Tanintharyi’s regional government is spending heavily on infrastructure and its 2017-18 budget focuses on electricity, roads and bridges as well as low-cost housing, Chief Minister Daw Le Le Maw told The Myanmar Times on January 22. Out of the approved budget of K157.45 billion for 2017-18 fiscal year, K119.86 billion has been allocated for electricity, roads and bridges, […]

IFC, Regulators Assess Corporate Governance of Myanmar Firms

IFC, a member of the World Bank Group, is working with Myanmar regulators to benchmark the corporate governance practices of Myanmar companies against international standards to help them improve performance, according to a statement. Numerous studies show that stronger governance helps companies operate more efficiently and manage risks better. In cooperation with the Securities and […]

Thai Tycoon Makes Frothy Offer for Stake in Vietnam’s Largest Beer Maker

SINGAPORE –  One of Thailand’s richest tycoons is looking to buy a quarter of Vietnam’s largest beer maker in a deal worth at least $2.25 billion, making his company the sole bidder wanting to buy a substantial stake. If successful, it would be one of the largest foreign investments in the Asian frontier market and […]

Financial services among the fastest growing sectors in Myanmar

The financial sector rose the most among 15 sectors managed by the government in the first six months of the 2017-18 fiscal year, growing 22 percent as a result of the implementation of new financial services, U Set Aung, deputy minister of the Ministry of Planning and Finance, at Pyidaungsu Hluttaw meeting on Thursday. “If […]

Nok Air kicks off new Mae Sot-Yangon route

TAK: Nok Air launched its maiden flight from Mae Sot to Yangon on Sunday to link the bustling border district with the commercial capital of Myanmar. The first flight left Mae Sot airport at 11.40am on a one-hour journey to Yangon international airport, with Thai businessmen, tourists and Myanmar passengers on board. The budget airline […]

Gemstone Sales Center Slated for Yangon

The Union govern­ment has created a working commit­tee to plan and estabish a gemstone sales center in Yangon, U Kyaw Win, Chairman of Myanmar Gold Entrepreneur Asso­ciation, said. The committee was jointly organized by of­ficials from the Ministry of Natural Resources and Environmental Conser­vation, members of the Myanmar Gem and Jew­elry Entrepreneurs Asso­ciation, and the […]

‘Tremendous opportunity for growth’ identified in the BIMSTEC region

Participants at a Yangon roundtable discussion today point to largely untapped opportunities for trade, communication and cultural exchange in a region of 2.5 billion souls. Parami Roundtable and Mizzima Media Group organised a roundtable on Myanmar and BIMSTEC to commemorate the celebration of 20 years of BIMSTEC. BIMSTEC, known as Bay of Bengal Initiative for […]

Myanmar’s business community must tap cluster potential to compete on global scale

“There are clusters formed by firms in similar sectors. In the Mandalay Region, the Directorate of Industrial Supervision and Inspection formed industrial clusters since 2014 and there are now 111 groups in 15 industrial clusters.” “But the business community in Myanmar is not very interested in this potential,” he said. “Businessmen here prefer to work […]