Myanmar exported garments under the cut-make-pack (CMP) system worth $4.28 billion between October 1 and August 31 in fiscal 2019-20, according to data from the ministry of commerce. However, following the novel coronavirus pandemic, some CMP garment factories have shut down due to lack of raw materials, leaving thousands of workers unemployed. Myanmar financial year […]
European Firms, Local Dealers Slam Govt’s Tax-Free Car Import Scheme
February 3, 2020 by
YANGON—The European Chamber of Commerce in Myanmar (EUROCHAM Myanmar) and the Automotive Association of Myanmar (AAM) have raised objections to the Myanmar government’s decision to allow civil servants to import vehicles tax-free. The government will soon issue an estimated 34,000 new car import permits. EUROCHAM Myanmar and the AAM said at a press conference on […]
PTTEP, GPSC banking on Myanmar gas plant
June 17, 2019 by
SET-listed oil and gas drilling firm PTT Exploration and Production Plc (PTTEP) has finalised a plan for a new gas-fired power plant in Myanmar with a capacity of 600 megawatts in collaboration with Global Power Synergy Plc (GPSC). Both companies, affiliates of PTT Plc, are working to finish a feasibility study, prepare for a development […]
Business confidence in Myanmar sinks as scepticism mounts
December 18, 2018 by
More European businesses say they have lost confidence in Myanmar due to concerns about the National League for Democracy-led government’s management of the economy compared to the last two years, a new survey shows. According to the latest survey from the European Chamber of Commerce in Myanmar (EuroCham) published yesterday, a majority of firms (81 […]
Myanmar’s Yangon International Airport reveals growth plans
November 29, 2018 by
Myanmar’s Yangon International Airport is to be further upgraded to better equip it to accommodate more international traffic. Operator, Yangon Aerodrome Company Limited (YACL), has also revealed that it is stepping up its marketing efforts in a bid to develop its international route network. The announcements come despite the airport admitting that it is likely […]
Yangon Aerodrome Company announces new milestones and upgrades for Yangon International Airport
November 16, 2018 by
Yangon Aerodrome Company Limited (YACL) is increasing the capacity of Yangon International Airport (YIA), the gateway to Myanmar, and stepping up marketing to open new international routes, even as YIA is likely to close 2018 with the slowest growth in air passenger traffic in five years. At a media briefing today to announce the five […]
Myanmar auto portal on fast track amid surging demand
November 2, 2018 by
THOUGH the lack of stable automobile policies in Myanmar is holding back the potential for an auto boom, CarsDB.com, the nation’s largest automobile marketplace, is confident it will be able to maintain its annual two-fold growth in revenue, according to Wai Phyo Kyaw, co-founder and chief operating officer of the company. “Since the past three […]
Tour operators barely surviving due to “incredibly shaky” demand
September 10, 2018 by
Small tour operators are on the verge of collapse as market demand in the tourism sector took a hit among Western visitors, as bookings for the impending peak season are “incredibly shaky”, according to a local company. In addition, hopes on wooing Asian investors were dashed by the now-abandoned “$1,000 in cash per tourist” entry […]
Japan Inc. pours cash into Myanmar despite Rohingya crisis
May 28, 2018 by
YANGON — Japanese companies are investing aggressively in Myanmar with help from Tokyo, even as their European and American counterparts shy away while hundreds of thousands of Rohingya Muslims flee the country to escape persecution. Japan’s businesses were approved to devote a record $1.47 billion to the Southeast Asian nation for the fiscal year ended […]
