Thilawa to Offer Modest Plots of Lands to Entice Small Businesses

Japan and Myanmar’s have agreed to es­tablish small factory rental spaces at the Thila­wa Special Economic Zone (SEZ) in a bid to promote investment among small and medium enterprises (SMEs), according to the zone’s operator. Under a memorandum of understanding (MoU) signed by the Osaka Chamber of Commerce and Industry (OCCI) and the Union of […]

French Chamber and UMFCCI to Support Myanmar-EU Trade

The French Myanmar Chamber of Commerce and Industry (CCI France Myanmar) and the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) signed a memorandum of understanding (MoU) on May 5 to strengthen partnership with a focus on supporting SMEs and Myanmar businesses. CCI France Myanmar said that the agreement comes at a […]

Southern Indian Merchants, Mandalay UMFCCI ink MoU

Southern Indian business concerns and the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) of Mandalay have signed an MoU, linking merchants from both countries to explore opportunities. “The thrust of the MoU is to foster greater exchange of information linking merchants and to promote business to business connections. The agreement is […]

Time to Fix the Economy With Action, Not Words

Economists and business owners, while acknowledging and applauding the measures put into achieving peace and stability, say the National League for Democracy-led government has largely ignored the economy during its first year in power. Some experts and entrepreneurs told The Myanmar Times that the government needs to focus on ways and means of stimulating economic growth and […]

President’s Reserve Fund to Ensure Yangon Power Supply

The President’s Reserve Fund will be used to ensure there is sufficient electricity supply in Yangon in the coming summer, Chief Minister U Phyo Min Thein said. He announced this after a meeting among some Union ministers and entrepreneurs at the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) office on April […]

Credit Guarantee Insurance Not Helping Small Businesses

  Credit guarantee insurance was introduced under the former government in 2014 but the system has not been widely adopted by banks and businesses. As a result, financial support for SMEs remains inadequate. So far, CB bank has offered loans to 21 businessmen, KBZ has given loans to only three, and banks are still unable […]

FDA Delays Labelling of Food Products

The Department of Food and Drug Administration (FDA) has announced that the labelling requirements for local food products will be delayed by three months. FDA Director General Dr Than Htut said that this extension will give food manufacturing companies more time to register their products while also preparing themselves to meet the requirements set by […]

Premier Coffee Factory Sued for Unpaid Overtime Fees

The labour ministry has sued Premier Coffee factory, claiming the company failed to pay 300 workers their overtime fees, labour officials told The Myanmar Times. “After reading the worker’s report, we met the factory officials and explained that, based on our labour laws, they must pay the workers [who work on daily wages] the overtime […]

Multi-Billion Dollar Rangoon Southwest Expansion Set to Begin

​​ RANGOON — The Rangoon divisional government will begin implementation of a controversial expansion plan in the southwest region of the commercial capital at the end of February, according to Rangoon Chief Minister U Phyo Min Thein. The chief minister made the announcement on Saturday during a meeting with Vice President U Myint Swe and […]

Listing Brings Few Benefits for Construction Sector for now

​​ There is only one listed construction-related firm on the Yangon Stock Exchange (YSX) at the moment. Joining the YSX will not boost the construction companies to raise capital for real estate projects in the short term. KBZ Bank deputy managing director U Bo Bo Wai Maung said that local construction companies should consider joining […]