The ABC Group plans to increase the number of 24-hour convenience stores it operates across the country to 300 in two years. Small and medium enterprises will play a pivotal role in the expansion of ABC convenience stores, said officials. “At present, SMEs are still struggling to grow in Myanmar. ABC convenience stores will allow […]
National plan mooted for 2019-2020, gdp growth to hit 7pc
September 19, 2019 by
Parliament has approved the new National Plan law for fiscal 2019-20, which will be effective from October 1, 2019 to September 30, 2020. The National Plan is expected to help Myanmar’s GDP grow by 7 percent to K95.4 billion during the period compared to 6.8pc in fiscal 2018-19. Contributing to economic growth is the financial […]
SMEs need policies tailored for growth to flourish: MRCCI
August 20, 2019 by
The Mandalay Region government needs to have specific policies to boost small-and-medium enterprises (SMEs) in order to attract and grow high-skilled jobs. The Mandalay Region Chamber of Commerce and Industry (MRCCI) unveiled the 2019-2022 Mandalay Region Business Agenda last month suggested several initiatives including for taxation, regulations, labour and education that the regional government can […]
€8 million funding for trade initiatives
August 20, 2019 by
The European Union (EU) will provide assistance of up to 8 million euros over four years for the implementation of ARISE Plus Myanmar initiatives that will help the country integrate better with Asean economies in line with the Asean Economic Community Blueprint 2025. A financing agreement was recently signed with officials from the EU, the […]
Reset capital market, allow foreign competition to unleash growth: leaders
January 8, 2019 by
Foreign investor interest in Myanmar appears to be waning at a time when the global economy is losing momentum, if recent data is anything go by. As such, a hard reset of the local capital market is needed to ensure the business environment remains friendly to existing firms and entrepreneurs, as their survival and growth […]
KyoPay Launches Marketplace for Selling and Buying Invoice Receivables
October 16, 2018 by
With the goal of creating a financially inclusive business environment, KyoPay is the first digital platform for invoice receivables that offer a fast, simple, and secure way for businesses in Myanmar to improve cash liquidity. The online marketplace is for invoices receivables, which aims to help Small and Medium Enterprises (SMEs) boost cash flow. One […]
State Counsellor urges entrepreneurs to help grow nation’s wealth
August 30, 2018 by
Myanmar’s business community has an important role to play in ensuring the country’s political voice is heard on the global stage, State Counsellor Daw Aung San Suu Kyi said at the meeting between government officials and business persons and at Myanmar Convention Centre in Nay Pyi Taw yesterday. She said the reason Myanmar’s political voice […]
Chamber backs SMEs to embrace digital technology
July 20, 2018 by
As small and medium enterprises in Myanmar are facing challenges, the Union of Myanmar Federation of Chamber of Commerce and Industry is encouraging small and medium-sized enterprises to pursue digital competency to ensure their long-term survival, a chamber executive member said in an exclusive interview. Aye Tun, vice president of the chamber’s SMEs Committee and […]
Warm response seen to ‘Myanmar Insight’ in Bangkok
June 22, 2018 by
GIVEN the rising interest in Myanmar’s economy this year, nearly 500 Thai businesspeople are expected to gather at the Myanmar Insight 2018 to be held in Bangkok next month, according to Nattawin Phongsphetrarat, vice president of Thai Business Association of Myanmar (TBAM). He said at a press conference yesterday that the event would be held […]
Singapore-based Hayman Capital to provide loans to local SMEs
June 5, 2018 by
Hayman Capital based in Singapore is providing micro finance services for local small and medium enterprises, and loans will not be limited to businesses currently in operation. Hayman Capital has being doing business in Myanmar for over three years and profits were reported only for two years. The service is due to be extended later. […]
