Bid to boost Myanmar shrimp trade begins

“We usually import broodstock from Thailand. But, possibility for the broodstock to suffer some diseases is truly a major risk to our shrimp production. Now we are about to start sustainable shrimp farming with the help of a firm from the United States,” he said. According to Kyaw Tun Myint, Myanmar entrepreneurs in the industry […]

Max Myanmar looking for partnership in financial services

Max Myanmar Holding Co, a hotels-to-engineering conglomerate, said it is looking for partnerships in financial services and is in talks with France-based Accor SA to expand cooperation in hotel management. The Yangon, Myanmar-based group expects legal changes in the country to encourage more investment, U Zaw Zaw, Max Myanmar chairman, said in an interview Thursday […]

Business Community: Govt Must Clarify Laws to Secure Investment

​​ RANGOON — Local and international business leaders urged the ruling National League for Democracy (NLD) government to clarify the country’s laws to secure significant foreign investment. The comments were made at a forum on promoting business in Burma at the Sedona Hotel in Rangoon on Thursday organized by international media company Bloomberg and attended […]

Myanmar’s Max Looking for Financial Services, Banking Partners

Max Myanmar Holding Co., a hotels-to-engineering conglomerate, said it is looking for partnerships in financial services and is in talks with France-based Accor SA to expand cooperation in hotel management. The Yangon, Myanmar-based group expects legal changes in the country to encourage more investment, U Zaw Zaw, Max Myanmar chairman, said in an interview Thursday […]

Military Officials, Cronies Released from US Blacklist

RANGOON — Burma’s former dictator Snr-Gen Than Shwe was among individuals removed from the US Treasury’s blacklist following the lifting of Burma sanctions on Friday. Another 16 senior military officials, including former Vice Snr-Gen Maung Aye, have been removed from the US Treasury’s Office of Foreign Asset’s Specially Designated Nationals and Blocked Persons (SDN) List. Apart from senior military officials, military-related businesses […]

More transparency needed from local business: MCRB

A select few Myanmar firms display a higher level of transparency than most of their ASEAN peers, but many large companies continue to show little interest in disclosure – even when legally required – according to a recent report from the Myanmar Centre for Responsible Business (MCRB). There is huge variation in the approach Myanmar’s […]

AYA BANK launches the First Universal JCB-MPU co-brand cards

AYA Bank launched the first JCB credit and debit card as AYA Universal MPU-JCB Co-Brand cards in Myanmar yesterday, becoming the first in the country to issue Japanese JCB credit and debit cards. The Ayeyarwady Bank, also known as AYA Bank, is issuing the “AYA Universal MPU-JCB Co-Brand Card” combining the Myanmar Payment Union-MPU brand […]

Overseas expansion plans heat up at Myanmar banks

Aya Bank plans to open representative offices overseas, while competitor KBZ Bank says it has applied to move into countries such as Japan and South Korea, in a sign that Myanmar’s banks are growing bolder in exploring overseas markets. If successful, AYA would become the second Myanmar lender to expand beyond national borders – KBZ became […]

Yangon has seen an increase in number of cars since the country opened up in 2011

Imported Cars with 1800 cc and above engine will be imposed special freight taxes, said Myanmar Customs Department. CIF five per cent is also added to custom duties. Obviously, 1800 cc cars are not meant for all strata of people. Besides, these cars are in low demand at the market. Increasing the tax means the […]

Myanmar jade market hit hard by halting of Chinese government loans

The Myanmar jade market has taken a huge hit as the Chinese government has stopped the provision of loans to Chinese jade traders, it is known from the market. “The [Chinese] government has pushed back the handing out of loans to [Chinese] jade buyers. Those big businessmen [Chinese jade buyers] have partnerships with [Chinese] banks. […]