Vietnamese garment industry faces fierce competition from China, Myanmar

Competition in the world garment market is forecast to be stiffer, not only with China but also with countries such as Myanmar and Cambodia as they increase competitive pressures on Vietnamese products. The information was announced at a seminar on the prospect of garment exports in 2018 held in Ho Chi Minh City on November […]

Mandalay taps British expertise for higher education

MANDALAY, Myanmar’s second largest city, is expected to become the country’s northern economic hub over the next two years. Yet, skills and talent in the city still lags behind Yangon and many cities in ASEAN. The brain drain and skills shortage are dragging its economic growth. But Ko Ye Tun Min, founder of the Mandalay […]

Local shrimp market shrinking on falling US demand

As the US has stopped buying wild shrimp, the local market for shrimp is shrinking, U Hnin Oo, deputy chair of Myanmar Shrimp Association, told The Myanmar Times. In the past, Myanmar exported both wild and farmed shrimp to the US, EU as well as its neighbours in ASEAN. However, the US has said that […]

Myanmar’s evolving maritime security landscape

Myanmar links South and Southeast Asia and lies on maritime shipping routes from the Indian and Pacific Oceans.A key pillar of its national development agenda is establishing an efficient and integrated transport system to become Asia’s newest maritime hub. Recent political and economic reforms have already had significant impact on national trade flows. According to […]

Change in fiscal year insufficient to address shortfalls in budget process

While seen as positive, Nay Pyi Taw’s proposed change of fiscal year alone cannot address the lack of flexibility in the annual budgeting process, according to businesses. The adoption of multi-year budgeting should be implemented instead. Lawyers, investors and financiers told The Myanmar Times that while changing the fiscal year could bring some advantage to […]

Reliance Industries exits from overseas oil and gas blocks

New Delhi: Reliance Industries has exited the last of its overseas oil and gas assets after it relinquished two blocks in Myanmar. “Relinquishment of Myanmar Block M17 and M18 on completion of study / others technical evaluation assessment period,” RIL said in an investor presentation post announcing its second quarter earnings. With this, the oil-to-telecom […]

Myanmar’s bargaining power rises along the Belt and Road

AS Hong Kong’s second Belt and Road Summit started today in the city The Myanmar Times asked two experts from The Economist Intelligence Unit and Lau China Institute at King’s College, London for their input regarding the dynamics of the Belt and Road Initiative (BRI) and China in relation to Myanmar and ASEAN. Much of […]

Monetising Myanmar’s potential

The recent opening up of the country presents an opportunity for technology leap-frogging, even as the burgeoning IT sector is increasingly looking for investments and expertise from foreign companies THERE is little doubt that we are entering the golden era of the information age where innovation is continuing to disrupt a number of industries. At […]

Global standards issued for local coffee producers

IN a bid to promote local coffee to the international market, the Agriculture Department will be issuing a Good Agricultural Practice (GAP) certificate to qualified local coffee producers this year, said Daw May Thet Hlaing, a coffee expert from the Coffee Research, Information, Extension and Training Centre. Local coffee producers who meet a list of […]

IFC Approves Support for Controversial Tycoon’s Mandalay Cement Project

The World Bank’s private sector lending arm the International Finance Corporation (IFC) has given the go ahead to support a multi-million dollar plan to expand a cement factory in Mandalay Region, operated by the Shwe Taung Conglomerate. The firm’s chairman, Aik Htun, had been alleged by US authorities to have had ties to the drug […]