Business / Trade


After decades of economic mismanagement, significant strides have been made in developing the financial sector over the past five years, but industry experts say formidable challenges lie ahead.
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Prospective investors to Mon State are being advised to ensure consultation with local civil society organizations and the dominant ethnic Mon rebel group before sinking money into the region.
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Myanmar’s leading entertainment and media company, Forever Group, will boost its digital delivery and high definition TV coverage with a long-term contract to add five transponders to its existing three on a Thaicom satellite.
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Less than one week after assuming the position of Myanmar’s foreign minister, Aung San Suu Kyi received her first official guest: Chinese Foreign Minister Wang Yi. Wang arrived in Myanmar on April 5 for a two day visit, at the invitation of Suu Kyi.
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Burma, once isolated regionally and globally, is rapidly opening up with ongoing political reforms. Foreign affairs representatives from the Association of Southeast Asian Nations (Asean) in particular are now anticipating a relationship with a new Burmese counterpart. Yet she is no stranger to them: the foreign minister is also the country’s charismatic leader, Aung San Suu Kyi.
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Burma’s newly sworn-in National League for Democracy (NLD) government formed a new 21-member Financial Commission on Tuesday.
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The Central Bank of Myanmar (CBM) revealed on its website on Monday the official rules and regulations for mobile financial service providers (MFSPs), seen by observers as a way to reach more rural customers throughout Burma.
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Chinese state-controlled commodity trader Guangdong Zhenrong Energy Co has won approval from the Myanmar government to build a long-planned $3 billion refinery in the Southeast Asian nation in partnership with local parties including the energy ministry, company executives said on Tuesday.
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Those hoping for clarity on the fate of the Chinese-funded Myitsone dam were left disappointed on Tuesday, as the first meeting between Foreign Minister Aung San Suu Kyi and her Chinese counterpart did not address the controversy.
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Manpang People’s Militia coerced leaders and residents of several villages to attend a meeting about coal excavations in Lashio district in northern Shan State. The militia led by Lit. Mon summoned the residents of Kwan Koot, Ho Nar, and Loi Nguen villages to Kwan Koot Monastery to discuss the militia’s involvement in excavating coal in Tanyang District.
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Plans to build a 5,000 ton cement factory in Mi Kayin village in the Karen State’s Hpa-an Township has been halted after concern from locals. The announcement on March 30 came during a meeting with Karen Armed Group Unity Committee (KAGU) days after disgruntled villagers gathered for a public prayer service at the base of Mi Kayin Mountain.
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Pyithu Hluttaw speaker U Win Myint has urged the government to consider whether a 5 percent tax levied on telecommunications is appropriate, just one day after the duty was enacted after almost a year of delays.
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Foreign direct investment (FDI) in Burma in the fiscal year ending in March grew to nearly $9 billion, a government official said on Monday, after a rush of last-minute approvals before the handover of power to Aung San Suu Kyi’s administration.
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The election of Htin Kyaw as Myanmar’s president – the country’s first civilian president in over five decades – marks a major transition of power in the country. In this transition, Myanmar has to overcome the legacies of decades of misrule, such as ethnic insurgencies, an underdeveloped financial system and an inefficient civil service. Given Hong Kong’s experience in professional services, geopolitical proximity and policy priorities, there is much we can do to facilitate a smooth political transition and economic progress in Myanmar.
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The Asian Development Bank (ADB) launched its Asian Outlook 2016 report last week, which called for the economy to grow around 8.4 percent this fiscal year. The report is an assessment and prediction on Myanmar’ 2016 economy and the challenges it faces. Overall, it predicts economic growth will recover and inflation will moderate in the 2016 fiscal year.
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In a move calculated to please Burmese motorists, the Ministry of Construction announced on Friday that it would order the closure of more than half of the toll gates operating in most parts of the country.
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The new Myanmar government must meet several challenges to ensure that the high growth rate expected for 2016 and 2017 is sustained so as to benefit the entire society, according to the Asian Development Bank.
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A parliamentary committee has recommended the incoming Yangon Region government suspend two approved projects on state land, including a US$70 million private hospital.
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Despite the euphoria of yesterday’s historic handover, the reality is that President U HTin KYaw’s administration takes office at a time when the country is facing a range of economic, political, and social challenges. The Myanmar Times has surveyed 10 of the most significant hurdles the new government will face as it seeks to achieve its policy pledges and meet the high expectations of the voters who put it in power.
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First Myanmar Investment’s shareholders got a taste of stock market volatility yesterday as their shares lost and then regained 24 percent of their value in just a few hours.
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