The Regional Comprehensive Economic Partnership (RCEP) agreement will bring investments into Myanmar and create jobs but is expected to heighten competition for small enterprises, business people say. The RCEP, the world’s largest free trade agreement, was signed by Myanmar and 14 other Asia-Pacific countries on Sunday. It covers the 10 member states of the Association […]
Southeast Asia Courts Local Tourists as Virus Shuts Chinese Out
February 20, 2020 by
MANILA—Southeast Asia’s holiday hotspots, hit by billions in lost business from Chinese tourists, are turning to markets closer to home to soften the blow from travel restrictions caused by the coronavirus epidemic. To make up for lost revenues, firms in the region are dangling discounted airfares, hotel accommodation and tour add-ons in a bid to […]
Japan is eyeing export-oriented businesses in Myanmar
October 22, 2019 by
Japanese companies are becoming interested in the local industry which will manufacture products in Myanmar and export them to India, China and Thailand, said Japanese Ambassador to Myanmar Mr. Ichiro Maruyama, at Japan-Myanmar Resource, Trade and Investment Expo 2019 at Inya Lake Hotel in Yangon on October 19. “There are many Japanese companies which are […]
Automobiles to roll off new assembly line in Mandalay
August 6, 2019 by
Myanmar has been importing car parts and assembling them for years, but now Chinese cars will be produced here for the first time, at Myotha industrial zone in Ngazun township, Mandalay Region. Shining Star Group of Kunming, China, established Gold AYA Motor International Co Ltd to make automobiles in Myanmar in 2017. The plant on […]
Manufacturing key to Myanmar’s growth
October 11, 2018 by
Myanmar has been transitioning to a more open and market-oriented economy over the past few years. While progress has been made throughout the economy, manufacturing has witnessed rapid expansion, accounting for 15 percent of GDP in 2007 but growing to 24pc in 2017. Garment manufacturing, in particular, has grown rapidly, with exports expected to surpass […]
The Price of Gold Reaches a New Record High
September 25, 2018 by
The price of Gold (99% pure gold) in local markets has set a new record high, reaching over K1 million per 1 tical (16.32 gram) on September 19. Meanwhile gold price in global market was at $1,300 per ounce in May and dropped to $1,205 on September 17. But the gold price hike in local […]
Organic Poultry Farm Makes Waves in Yangon
September 7, 2018 by
Shwe Taung Nyo Gyi farm is making waves in Yangon with its local, organic poultry and natural eggs. The farm, founded in 2017 by friends Zaw Ye Naung and Marn Thu Shein, is certified by the Myanmar Organic Agriculture Group (MOAG). “We are both fathers who wanted to feed healthy, chemical-free foods to our children. […]
Yangon Tyre fends off competition for more growth as demand rises
August 8, 2018 by
Yangon Tyre, a homegrown tyre maker, wants to grow its local market share as demand for rubber tyres rises in tandem with various types of vehicles in Myanmar. “As more infrastructure is developed and existing road conditions improve, there will be less need to replace damaged tyres, but the number of vehicles on the roads […]
Ministry plans to stabilise fuel oil price
July 4, 2018 by
In an attempt to control rising fuel oil prices, eight State-owned fuel filling stations will directly sell fuel at a fair price as of July 1, according to the Ministry of Electricity and Energy. Rising fuel prices are coupled with an increase in the global fuel price and currency exchange rates. The ministry will sell […]
