Myanmar better off in good graces with the West

Two developments stood out in Myanmar’s international relations landscape in 2017: The increasing Chinese influence in the country and the immense diplomatic pressure from international community on the government’s handling of the Rakhine crisis. Analysts cautioned Myanmar against overdependence on China for its development and urged the country to mend ties with the West to […]

Yangon Stock Exchange launched Online Trading System for securities companies

On December 26, 2017, SECM granted the approval for online trading to a handful of securities companies, which passed online trading tests and are ready for the system. The companies are the Myanmar Securities Exchange Center (MSEC), KBZ Stirling Coleman Securities (KBZSC), CB Securities and AYA Trust Securities. They will be ready to offer services […]

Pharmaceutical Companies From Indonesia, Myanmar Establish Joint Venture

Jakarta (ANTARA News) – Indonesian pharmaceutical company PT. Phapros Tbk, a subsidiary of PT Rajawali Nusantara Indonesia (RNI), and Myanmar`s pharmaceutical firm Medi Myanmar Group have established a joint venture to develop the business of pharmaceuticals and medical devices. According to a statement from PT. Phapros Tbk received by ANTARA here on Friday, the cooperation […]

A Third of Myanmar’s Population Living in Poverty

NAYPYITAW — About 32 percent of Myanmar’s 50 million population, or 15.8 million people, are living in poverty, according to an assessment of the 2015 Myanmar Poverty and Living Conditions Survey. The new report, compiled jointly by the Ministry of Planning and Finance and the World Bank, is the second of the two-part Myanmar Poverty Assessment and […]

World Bank: Myanmar Poverty Assessment 2017

Key Findings A joint assessment prepared by the Ministry of Planning and Finance and the World Bank finds that living standards have improved and poverty declined between 2004 to 2015. Poverty steadily declined from 32.1% in 2004 to 25.6% in 2009 to 19.4% in 2015, using the method put forward in the Integrated Household and […]

The role of AustCham Myanmar in the Myanmar economy

Australia is proving an important and growing trading and investment partner for Myanmar. The bilateral trade between Australia and Myanmar reached US$144 million in 2016, according to Myanmar’s Ministry of Commerce. Ms. Jodi Weedon is CEO of the AustCham Myanmar (Australia-Myanmar Chamber of Commerce), which was set up in March 2013. In a recent interview […]

Better legislation to attract Austbusinesses to enter Myanmar

Though Myanmar has yet to receive investment from Australia in fiscal year 201718, the nation’s improved business regulations should arouse Australian investors’ interest, according to a diplomat. Nick Cumpston, economic counsellor at the Australian Embassy, said in an exclusive interview that the Union Parliament’s recent passage of the new Myanmar Companies Law could spur Australian […]

Online Tax Payment System to Be Introduced in February

Instead of making tax payments in cash, a more convenient online payment system will be implemented by the state banks early next year, said deputy director general Dr Khine Shwe Whar from the Central Bank of Myanmar (CBM). “This online customer-to-customer transfer (CCT) payment system will start in February 2018,” she said in a meeting […]

Invitation for Bids (IFB), Ministry of Planning and Finance, Modernization of Public Finance Management,Closing Date: 8 January 2018

Credit No. 54020-MM/Grant No. TF017910, IFB No: MM-MOPF-31520-GO-RFP IFB Title: Supply, Implementation and Support of an Integrated Tax Administration System (ITAS) and related linkages 1. This Invitation for Bids (IFB) follows the General Procurement Notice (GPN) for this project that appeared in Development Business, on February27, 2014. 2. The Government of the Republic of the […]

Myanmar tackles food safety in bid to boost agricultural exports

MYANMAR plans to improve food safety in a bid to boost agricultural exports and extract more value from a sector that accounts for 38 per cent of the country’s gross domestic product. Ye Tint Tun, director general of the Department of Agriculture, said exports of agricultural products made up 23 per cent of Myanmar’s export […]