Transportation of goods between Asean countries will be more competitive with the implementation of a new regional multimodal transport system, said U Than Win Aung, joint secretary of the Myanmar International Freight Forwarders Association. A framework agreement on a multimodal transport system involving the Asean countries is now being drawn up. Thailand and the Philippines […]
More investments needed for expansion in food-processing industry
March 15, 2019 by
The Myanmar processed food industry needs more investment support in order to develop further, U Aye Win, chair of the Myanmar Food Processors and Exporters Association, told The Myanmar Times. Currently, Myanmar processes basic raw commodities such as rice, beans, maize and other agricultural products. Excess products are exported. However, the country also imports value-added […]
Upgrade infrastructure to attract global manufacturing, GMS told
February 14, 2019 by
There is a significant need for Mekong region countries to upgrade their infrastructure to take on a larger share of global manufacturing, said Sok Siphana, chairman of independent Cambodian think-tank Asian Vision Institute (AVI). “The promotion of the free flow of goods, services, investment and skilled labour within the Greater Mekong Subregion (GMS) could further […]
Myanmar launches investment promotion plan amid toughening conditions
October 15, 2018 by
The Myanmar Investment Commission (MIC) on October 8 launched its Myanmar Investment Promotion Plan (MIPP) for the time frame between 2016-17 and 2035-36. The plan outlines five strategies to actively promote investments in the local economy, including new policies and regulations, institutional development, infrastructure development and leveraging on local business systems, industries and human resources. […]
New policies unavoidable if Myanmar is to keep up in AEC
September 20, 2018 by
With just three months remaining before it is due to join the Asean Economic Community (AEC), time is running out for Myanmar to improve its economic policies and prepare local businesses for foreign competition. By January 1, 2019, Myanmar, together with the other CMLV countries, which includes Cambodia, Laos and Vietnam, will officially be part […]
SMEs need more funding, support system to expand further
April 27, 2018 by
Efforts to support small and medium enterprises (SMEs) over the past three years have so far not been sufficient to generate meaningful growth for the economy, experts said. While a higher volume of loans were dished out by state-owned and local banks, only a few SMEs have successfully expanded their operations in the past three […]
Sink-or-Swim Time for ASEAN Latecomers as Tariffs Come Down
January 12, 2018 by
HANOI — Cambodia, Laos, Myanmar and Vietnam are no longer getting the kid-gloves treatment in the ASEAN Economic Community. As late entrants to the Association of Southeast Asian Nations, the four countries were initially exempted from abolishing some tariffs when the bloc established the AEC at the end of 2015. As of Monday, however, they […]
Myanmar’s KBZ Bank to Ride Asean Growth Wave
August 19, 2017 by
KBZ, MYANMAR’S first bank to have expanded internationally with presence in Singapore, Thailand and Malaysia, is aiming high to grow further in tandem with the growth of Asean, said Nang Lang Kham, the bank’s deputy chief executive officer. She said in an interview that the growth of Asean has been quite fascinating thanks to the […]
More SMEs Tap Myanmar’s Potential
August 19, 2017 by
SINGAPORE’s small- and medium-sized enterprises (SMEs) are increasingly seeing the potential of the Myanmar market, with more local companies venturing out into the country. Singapore was the second largest investor in Myanmar as of 2016, with a cumulative investment of US$15.6 billion (S$21.2 billion), according to figures collated by the Myanmar Directorate of Investment and Company Administration […]
