Domestic businesses are failing, UMFCCI survey reveals

Domestic businesses are struggling to grow and many are on a downward trend, according to the latest survey conducted by the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI). The UMFCCI’s survey supports the findings of two previous studies conducted in the last six months by Roland Berger and the European Chamber […]

Next finance minister expected to rescue confidence, speed up bank reforms

The government has to find someone who can pick up the baton swiftly and restore confidence to an increasingly frustrated business community since U Kyaw Win has resigned as planning and finance minister. With economic reforms slowing and plummeting of investor confidence, the next office-holder needs to communicate the reform blueprint to the private sector, […]

Govt risks derailing economy despite legislative reforms

Candid comments from businesses expose this govt’s leadership and policy void in managing the economy, with no vision and little action. As the administration concludes its second year, it has yet to deliver. BUSINESS leaders, in rare candour, have expressed strong reservations and wide-ranging criticism over the current government’s approach to the economy as it […]

Government “ready” to offer loans to SMEs

The country’s biggest business and industry advocacy group has called on the government to change its policy on loans to better cater for the needs of small businesses.The government needs to change its loan policy, decrease interest rate, increase loan period and support the acquisition of technical know-how for SMEs, U Wai Phyo, Union of […]

Stakeholders Call for Economy to be Top Priority

YANGON — U Myint, the former chief economic advisor to the previous administration, urged State Counselor Daw Aung San Suu Kyi to set economic development as a top priority together with peace building. During his keynote address to the second Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) Convention in Yangon on […]

Lack of policy direction leads to drop in investor confidence

Alarm bells are ringing after a substantial drop in investor confidence in Myanmar as a result of the lack of a clear economic policy and plan in the economy. According to the second Myanmar business confidence survey conducted by Roland Berger in partnership with Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) […]

US firms interested in Myanmar’s digital economy

The US-ASEAN Business Council (USABC) led a business mission to Myanmar in which they held a meeting with the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) to strengthen trade and investments in the country. The USABC is an advocacy organisation for American corporations operating within the Association of Southeast Asian Nations […]

Education always a major focus for Japan’s bilateral cooperation with Myanmar

Myanmar and Japan enjoy a long-standing strong bilateral relationship across a wide range of political, economic, social and cultural spheres. Reflecting this, Japan’s economic cooperation to Myanmar dates back to as early as 1954. Throughout the history of the bilateral cooperation, education has always been a major area of focus, as Japan sees it as […]

Pulse and bean sector moves on after India restricts imports

Myanmar has issued a blueprint to help its pulse and bean sector recover from a pullback in demand from India. The blueprint comprises five strategies to help the sector cultivate alternative crops and develop new markets for its pulses and beans, including cooperating with the private sector, Permanent Secretary of the Ministry of Commerce U […]

Parliamentary Committee to Examine 24 State-Owned Factories

NAYPYITAW — The Lower House Investment and Industrial Development Committee will consider the termination or privatization of 24 loss-making state-owned factories—including the Myingyan Steel Factory which has received significant state investment. Committee member U Aung Kyaw Kyaw Oo said: “A total of 24 factories are making a loss, most were suspended when parliament discussed the […]