NLD’s Civil Service Reforms Aim to Fight Corruption

YANGON — The National League for Democracy government’s civil service reform strategic action plan (2017-2020) puts a strong focus on tackling corruption and working toward decentralization, while encouraging ethical practices in the civil service. The government shared the plan at a launch event in Naypyidaw on Monday, where they also hosted a three-day “knowledge forum” […]

JICA Offers K1.3b Loan to SMEs

JAPAN International Corporation Agency (JICA) is going to lend K1.3 billion via local banks to small and medium-sized enterprises (SMEs), an official from JICA told The Myanmar Times. JICA also extended a K41.5 billion loan to private SMEs in Myanmar last year, the official added. During this fiscal year, JICA’s loan for SMEs will work […]

Myanmar firms jittery over upcoming AEC

YANGON • Urbane, British-educated Thuta Aung, general secretary of a trade task force from Myanmar’s Ministry of Commerce, ventured to the rural riverside town of Hpa-an in the country’s south-east last month. The town sits on the banks of the Thanlwin about 300km from Yangon, the commercial centre of about 420,000 people. It is the […]

Banks need incentive to take grain instead of gold

Two domestic banks have agreed to offer loans backed by commodities, allowing farmers to pledge items like beans and pulses as collateral for access to competitively priced financing for the first time. However, the appeal of warehouse receipt financing may be limited, as capped interest rates mean the lenders have little incentive to take on […]