Myanmar to establish MSME Association to support economy

The MSME Association of Myanmar will be established soon to support micro, small and medium enterprises (MSMEs), said U Zaw Min Win, president of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI). “The UMFCCI will establish the association, which includes businesses from various sectors across the country. We’ve already written the […]

Mandalay to host SME trade fair for the first time

An international trade fair and economic forum for local small and medium enterprises (SMEs) will be held for the first time in Mandalay, Myanmar’s second-largest city from March 23-25. Mandalay Region Union of Myanmar Federation of Chambers of Commerce and Industry (MRCCI) Vice Chair Daw Khin Lay Myint said this was the first time the […]

Osaka business group to help lure firms to Japan-backed economic zone in Myanmar

The Osaka Chamber of Commerce and Industry has agreed to help attract small and medium-size companies to the Japanese-backed Thilawa Special Economic Zone near Yangon by establishing small rental factory spaces, the zone’s operator has announced. The OCCI, which is comprised of businesses around Osaka, and the Union of Myanmar Federation of Chambers of Commerce […]

Myanmar aims to reduce poverty level by 10%

YANGON: Myanmar aims to reduce its poverty level by an ambitious 10 per cent to 16 per cent by next year. Myanmar’s Vice President Nyan Tun made the announcement to some 8,000 workers at a rural development event in Yangon. Earning just US$2 a day is common for many in Myanmar, and the government wants […]

Central Bank notes caution on foreign banks

Central Bank of Myanmar vice governor U Set Aung appeared to back off a previously discussed timetable to allow foreign banks in to operate in Myanmar, declining to confirm plans to allow foreign banks to begin operations in 2014. Foreign banks will be allowed to offer services in Myanmar eventually but the timeline is still […]

Myanmar, Germany See Stronger Economic, Cultural Cooperation

Myanmar and Germany saw fortified economic and cultural cooperation between the two countries in 2013 encouraged by German Foreign Minister Guido Westerwelles’ visit to Myanmar in 2012. During 2013, the German Chambers of Commerce and Industry (GCCI) signed an agreement with its Myanmar counterpart, the Union of Myanmar Federation of Chambers of Commerce and Industry […]