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Myanmar: A burgeoning entrepreneurial ecosystem

A bit more than a decade ago, buying a cellular SIM card in Myanmar cost US$3,000 in 2001 and $250 in 2013. Fast forward to April 2019, and you can purchase a starter pack for as little as $1.10. And this is only one of the changes afoot in Myanmar, where local and international entrepreneurs […]

Invitation for Request for Quotation (RFQ), Ministry of Transport and Communications, Deadline: June 4th, 2019

Ministry of Transport and Communications(MoTC) now invites eligible firm to submit the proposal for “Radio Planning Tools (Software) and Digital Map (Software)” as part of the Telecom Sector Reform Project supported by the World Bank’s Loan. The deadline for submission of RFQ is June 4th, 2019 by 10:30 AM (Myanmar Standard Time). Attention: Director General […]

China’s Digital Silk Road: The Integration Of Myanmar – Analysis

Although relatively new to the information and communication technologies (ICT) field, Myanmar has made rapid progress in the technological domain in the past few years. This, coupled with the country’s unique geographical location between South Asia and Southeast Asia makes Myanmar an increasingly vital intersection in China’s Digital Silk Road. With projects valued at over […]

Myanmar economy to rebound

Despite Myanmar’s economic growth having declined to 6.2 per cent last year from 6.8 per cent in 2017 , the nation remains resilient and is expected to return to growth of 6.5 per cent this year and 6.6 per cent next year, according to WB economists. Andrew Mason, World Bank’s acting chief economist for East […]

Trade laws protecting local producers now being drafted: MOC

The Ministry of Commerce (MOC) is drafting new trade laws to safeguard local producers while promoting exports of domestically-produced goods, Minister of Commerce U Than Myint said. Due to the lack of investments and technology, Myanmar producers face stiff competition from their regional peers, who are able to manufacture at faster speeds and lower costs […]

New labour law paves way for worker safety standards

Myanmar’s parliament has enacted the Occupational Safety and Health (OSH) Law to promote safe and secure working environments for labourers and workers. The new law, signed by President U Win Myint on March 15, is expected to pave the way for the first legally-established health and safety standards in the country. It stipulated that OSH […]

MoneyGram and MCB announce money transfer services

MoneyGram and Myanmar Citizens Bank (MCB), have announced an agreement to provide money transfer send services at every MCB bank location in Myanmar. According to a statement, consumers can send money from 42 branches to any MoneyGram location in more than 200 countries and territories worldwide. In celebration of the new agreement, MoneyGram is offering […]

Metro’s Myanmar subsidiary secures US$20m IFC loan

The Myanmar subsidiary of German retail group Metro AG has raised a US$20m loan from the International Finance Corporation, the private-sector arm of the World Bank. The subsidiary Metro Wholesale Myanmar is a 85pc-15pc joint venture between Frankfurt-listed Metro AG and Singapore-listed Yoma Strategic Holdings, offering one-stop wholesale food service distribution for hotels, restaurants, retailers, […]

Customs issues impact Singapore Myanmar Investco third quarter results

MYANMAR. Singapore Myanmar Investco Limited (SMI) has reported a 16.6% year-on-year decrease in revenue in the third quarter, to US$5.5 million. The company, which manages duty free and food & beverage outlets at Yangon Airport’s international terminal, attributed the decline to reduced retail sales as a result of Myanmar Customs restricting some key duty free […]

Japan envoy says development is solution for Rakhine

Japan’s top envoy to Myanmar said that economic development is an answer to Rakhine’s conflict and that Tokyo is considering providing aid for the state. “If there is economic development, I believe that there will be no conflict,” Japanese Ambassador Ichiro Maruyama said ahead of a Japan-backed investment fair in Ngapali. The first Rakhine Investment […]