Business / Trade

The government plans to carry out a policy encouraging vehicle imports manufactured with left-hand steering columns, in an apparent effort to phase out their right-hand counterparts, which currently predominate on Burma’s roads and pose safety risks. (more…)

Japan-based Resona Holdings Inc. and Yangon-based Myanmar Apex Bank signed a Memorandum of Understanding on business collaboration to provide banking services on November 24, in a ceremony at the Sule Shangri-La Hotel, Yangon. (more…)

Myanmar’s rice volatility is the highest among net rice exporting countries in Asia, preventing rice farmers from earning high profits and keeping many families at or close to the poverty line, according to the World Bank. (more…)

Gold is valuable but jade is priceless, so goes a Chinese saying. For centuries, the Chinese consider jade an imperial stone with mystical properties. Today it is coveted all over China as a status symbol, a collectible and an investment. (more…)

Thailand’s largest cement producer has begun work on its first factory in Myanmar, aiming to open doors on the facility as soon as the second quarter 2016. (more…)

Starting a business in Myanmar is harder than anywhere else in the world, according to some metrics. A new startup guide released last week could help fledgling companies take off, or at least identify problems keeping them grounded. (more…)

Telenor and Yoma Bank are teaming up in mobile banking, aiming to provide basic financial services for millions of unbanked people in the country. (more…)

First Myanmar Investment Company (FMI) has announced plans for expansion in four sectors of Burma’s economy before the end of the current fiscal year, on the back of the conglomerate’s highest ever profit results. (more…)

More than 80 percent of Yangon’s 7 million inhabitants do not have a bank account, according to a two-month survey carried out by Yangon-based Thura Swiss research and consultancy company. (more…)

Rice prices have pulled back from a sharp slump in recent days, amidst a predicted rise in exports and expectations that recent heavy rains could reduce the size of this year’s crop. (more…)

Burma’s Ministry of Industry signed an agreement last month to borrow US$20 million from a Singaporean private bank and $30 million from a Vietnamese state-owned bank so that it can increase government loans to small and medium enterprises (SMEs), a ministry official said. (more…)

Foreign professionals, technicians, investors, former Myanmar citizens and spouses of citizens will be eligible for permanent resident status under a scheme to be unveiled later this month. (more…)

The United Nations hopes to encourage at least 1,000 local companies and organizations to become part of the UN Global Compact Network before the end of 2014, according to the network’s local chairperson Dr Aung Tun Thet. (more…)

Oil prices were mixed in Asia on November 19 as dealers predicted that leading producer Saudi Arabia will resist pressure from other OPEC members to cut output in a bid to prop up falling prices. (more…)

A continued resurgence of the US dollar and a widening trade deficit has seen the kyat hit a new low on the exchange market. (more…)

Economists and banking experts unanimously agree that the Central Bank of Myanmar (CBM) is not well-positioned to control the fluctuation of dollar price, which went up 45 kyats in the last month. (more…)

Japan’s Mitsubishi Corp and Jalux Inc will partner with Myanmar’s Yoma Strategic Holdings Ltd to operate Myanmar’s second-largest airport and expand it into a regional hub, an official from Department of Civil Aviation (DCA) said on Tuesday. (more…)

Myanmar stands to attract more foreign direct investment (FDI) in the years to come like other countries in the CLMV (Cambodia, Laos, Myanmar and Vietnam) group, thanks to the low wage cost which is attracting manufacturing firms aside from significant interest in the extractive industry and infrastructure, according to the Asean Investment Report 2013-2014. (more…)

President Barack Obama’s visit to Myanmar this week once again puts a spotlight on the progress of the country’s opening up and political transition. But in a familiar refrain: it’s the economy, stupid. (more…)

The Myanmar Agricultural Development Bank is threatening legal action against more than 15,000 farmers in Irrawaddy Division who have failed to pay back their loans on time, a representative of the state-owned bank said. (more…)

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