NLD’s One-Year Anniversary: Government’s Economic Focus a Little Thin on Substance (I)

While a year has passed since the new government proclaimed “It’s time for change”, there’s no evidence of substantive changes for the private sector. Bureaucracy, lack of policy clarity and political uncertainty have dampened the mood of businesses. One year has almost passed since the new government took office with the slogan that shouts “It’s […]

Ayeyarwaddy Should Be ‘Secondary Hub’ to Foster Economic Growth Beyond Cities – Industrial Zone Chairman

​​ The Ayeyarwaddy Region has the po­tential to become a “secondary growth hub” for Myanmar thanks to its proximity to Yangon, its ability to host a deep sea port, and its relatively low land and labour costs, a meeting of investors or­ganized by the the Thai Business Association of Myanmar heard. U Ye Min Aung, […]

Myanmar Companies Act sent to parliament

The Myanmar Companies Act – a pivotal piece of legislation that will reform how companies are regulated and allow foreign investors onto the Yangon Stock Exchange – was submitted to the Pyithu Hluttaw at the start this month, according to Directorate of Investment and Company Administration Director General U Aung Naing Oo. The new act […]

MAPCO courts investment for agri-industry park

​​ Myanmar Agribusiness Public Corporation (MAPCO) is building the first of several planned agricultural industrial parks in Ayeyarwady Region aimed at attracting foreign and local investment into agriculture and agri-business. U Ye Min Aung, MAPCO’s managing director said the Myaungmya township-based project is small-scale but innovative. Basic infrastructure including roads, a jetty and an electricity […]

Dollar Exchange Rate Climbs, Shakes Up Burma’s Business Community

RANGOON — The US dollar exchange rate—at its highest since the new government came to power in April—has Burma’s business community looking for better trade policy. “In the black market, the exchange rate is currently 1306 kyats [US$1] per dollar; it’s too high for importers. If the import demand increases, it could impact the prices […]

Foreign investment into lagging agriculture and fisheries sectors urgently needed: exporters

The next government should urgently seek investment in the country’s lagging and underfunded agricultural and fisheries sector, to help halt and reverse the decline in exports, traders said. Of the US$38.18 billion received in foreign investment over the past five years, a bare $208 million has been ploughed into agriculture, according to the Directorate of […]

Companies begin to feel the heat as import costs climb

Myanmar’s plummeting currency has prompted a vicious circle of rising prices in the import-dependent economy, in which even export-driven companies face rising costs, say businesspeople. New laws and regulations are urgently needed to control the kyat, they said, which has fallen by more than 25 percent to the US dollar this year to K1300 yesterday, […]

MRF to Control Rice Prices

The Myanmar Rice Federation (MRF) will work towards controlling the price of rice at open wholesale rice centres in Yangon and other regions, according to U Aung Than Oo, chairman of the MRF. “The federation will monitor who increases the wholesale price of rice. If they find price gouging by rice distribution centres, we will […]

Apex to lend against farm permits

Myanmar Apex Bank will begin allowing farmers to access bank loans by using their work permit certificates as collateral, according to bank chair U Chit Khine. The Form-7 certificates were created with the 2012 Farm Land Law, functioning as a farmland work permit certificate for people with the right to farm a particular plot of […]