Parliament has approved the National Planning Law for fiscal 2020-21, under which the Myanmar economy is forecast to grow at a rate of 6 percent. In comparison, the economy was projected to expand by 7pc in fiscal 2019-20 but due to COVID-19 is now expected to have grown by just 4.3pc instead, according to official […]
Covid-19: Thousands of garment workers lose jobs across Asia
July 16, 2020 by
Owing to the Covid-19 pandemic, the western brands have cancelled orders worth billions of dollars. As a result, hundreds of factories closed in waves across Asian industrial belts near Phnom Penh, Dhaka and Yangon. Hundreds of thousands of garment workers in Asia, a vast majority of them being women, were suspended or laid off when […]
New DMC launches in SE Asia
May 22, 2020 by
A Dutch duo has launched a new DMC in South-east Asia on Tuesday (May 5) – rebranded from Asia DMC Thailand – and opened offices in two new destinations, Vietnam and Myanmar. The brainchild of tourism industry veterans André van der Marck and Gerben Bloemendaal, Travel Exclusive Asia has offices in Bangkok, Chiang Mai, Saigon […]
As demand falters, corn traders seek new markets
February 5, 2020 by
Corn traders are actively looking for new markets in Asia to export corn, said U Min Khaing, chair of the Myanmar Corn Industrial Association. Traders are aiming to expand exports to Vietnam, the Philippines and India. Come June, representatives from the association will visit China to promote corn produced in Shan State. “We will also […]
Speculative Yangon City Mega-Project Draws ‘White Elephant’ Concerns for Myanmar
November 29, 2019 by
YANGON: On the western bank of the muddy Hlaing River, development and prosperity is a distant view. It can be seen across the expanse of water in the rising apartment blocks, office buildings and grinding industry. Over there is Yangon proper, a city of some six million people and the economic hub of Myanmar. Over […]
Philippines Firms Eye ASEAN’s last Frontiers
November 27, 2019 by
PHILIPPINE conglomerates are watching out for opportunities in less developed but fast-growing Association of Southeast Asian Nations (ASEAN) members, drawn by the “unique needs” of these markets. Gross domestic product growth projections of the Asian Development Bank, International Monetary Fund, the World Bank and the ASEAN+3 Macroeconomic Research Office for Cambodia, Laos and Myanmar have […]
With 70% Unbanked Population, Myanmar Bets on Fintech to Improve Financial Inclusion
November 25, 2019 by
Despite the Myanmar government’s push to expand access to financial services, the country still trails far behind the rest of Asia in rates of participation in formal financial services, financial literacy, savings rates and the use of digital financial services, according to a new report by social enterprise ONOW Myanmar. But fintech and mobile technology […]
The Rise and Fall of an Australian Media Mogul in Southeast Asia
November 20, 2019 by
ROSS DUNKLEY was thinking of quitting journalism when he met Rupert Murdoch, a fellow Australian, on a friend’s yacht off the coast of Rhode Island during the America’s Cup boat race in 1983. He had grown tired of working for other people in a newsroom; he wanted to return to his family roots and become […]
Yoma Shares Surge on $238m Capital Tie-Up with Ayala
November 19, 2019 by
The move is designed to strengthen Yoma’s core businesses in Myanmar’s rapidly growing economy. According to a statement released on Thursday morning, Ayala will invest up to $237.5 million in Singapore-listed Yoma as well as Yangon-listed First Myanmar Investment, taking a 20% stake in each company, both of which are controlled by Myanmar tycoon Serge […]
