KBZ to provide 24-hour service for trade-related payments via MPU

Kanbawza Bank has prepared to offer its around-the-clock service for trade-related payments through Myanmar Payment Union-MPU system, said U Aung Kyaw Myo, Deputy CEO of the KBZ Bank. The announcement for the payment system change came at the workshop on trade transaction payments with Myanmar Payment Union (MPU) system and expanding the fully online licensing […]

Gem Association to take part in Thai Fair

The merchants from Gem and Jewellery Entrepreneurs Association (Yangon) have been taking part in the event every year since 2014, vice chair Dr Aung Kyaw Win said. “Thai people are skilful in heating and purifying ruby and sapphire. We will have a chance to do business with other countries,” he added. Fifty booths from Myanmar […]

ADB Trade Finance Program Marks Milestone with First Transaction in Myanmar

The Asian Development Bank’s (ADB) Trade Finance Program (TFP) has issued its first guarantee for Myanmar, supporting the import of fertilizers from Italy. The guarantee was issued in favor of Banca Popolare di Sondrio in Italy in respect of the payment obligation of United Amara Bank (UAB), one of TFP’s local partner banks in Myanmar. […]

The Road to Muse

Mandalay-Muse Road linking Mandalay, the second capital city of Myanmar, and Muse located on Myanmar-China border plays a pivotal role in border trade between the two countries. The road was once notorious for its poor condition coupled with the then thriving insurgency. But nowadays, the situation has changed a lot as the country is moving […]

POSCO Daewoo launches agribusiness in Myanmar

POSCO Daewoo is launching an agribusiness venture in Myanmar as the company’s future growth engine. According to a POSCO Daewoo official, Sunday, Korea’s largest trading affiliate under POSCO group has secured construction and investment approval from the Myanmar government to build a rice processing complex (RPC) in Twante, the most accessible delta town from Yangon […]

Mandalay commodity traders pessimistic of 10 % deposit

Mandalay Commodity Depot Society has introduced a 10 per cent deposit system to prevent cheating, said an executive committee member recently. The new system that requires the advanced payment of 10 per cent of the transaction price was instituted on 1st November. But some society members expressed concerns about its effectiveness and about the lack […]

Myanmar spotlights Naypyidaw for MICE

THE Ministry of HOTELS and Tourism is promoting Naypyidaw as an ideal destination for MICE, partnering with neighbours like Thailand to stimulate more business traffic to its capital. Htay Aung, Myanmar’s minister of HOTEL and tourism, said: “Myanmar tourism is mainly based on natural and cultural attractions. But now the market has turned and Myanmar […]

Maritime spat to aid rice exporters

Growing tensions in the South China Sea in recent months is leading China to shun Vietnam for its rice imports, opening the door for Myanmar exporters, according to traders. Much of Myanmar’s official exports currently go to African countries, but with Thai exporters dropping prices in those markets since the May 22 coup, Myanmar exporters […]

Myanmar Property: Pros and Cons of investing in the region’s last frontier market

My visit to Myanmar about a year ago, including inspection of raw land, office buildings, serviced apartments and hotels, reminded me of when I first started working with CBRE Thailand 25 years ago. The key difference is that I now have a thorough knowledge of the property market, whereas in 1988 I was still new […]