SMEs need more funding, support system to expand further

Efforts to support small and medium enterprises (SMEs) over the past three years have so far not been sufficient to generate meaningful growth for the economy, experts said. While a higher volume of loans were dished out by state-owned and local banks, only a few SMEs have successfully expanded their operations in the past three […]

Myanmar set for transition to digital economy with corporates’ support

FIVE YEARS after Myanmar’s liberalisation of the telecommunications sector, the nation has now over 50 million mobile subscribers, a figure that almost encompasses its total population, and is set for adoption of digital economy with the help of industry leaders worldwide. Myo Swe, deputy director general at the Posts and Telecommunications Department, said earlier that […]

Record Foreign Direct Investment Smashes Government Forecasts

YANGON — Foreign direct investment in Myanmar is continuing at a staggering pace, hitting more than US$6 billion in the first nine months of the current fiscal year, according to figures from the Myanmar Investment Commission. From April to the end of December last year, 25 countries spent $6.62 billion on foreign direct investment (FDI), […]

Telcoms Seen Taking Growing Share of Myanmar’s FDI Pie

NAYPYIDAW — The Myanmar Investment Commission expects that foreign direct investment in Myanmar will reach between US$4 billion to $5 billion in the coming 2014-15 fiscal year, with the country’s telecommunications sector seen as a rising star in attracting overseas business interest. Aung Naing Oo, director-general of the Directorate of Investment and Company Administration and […]

World Bank gives $31.5m for telecoms

The World Bank will provide a US$31.5 million credit toward reforming Myanmar’s telecommunications sector by expanding access and making usage more affordable, it announced on February 6. According to a press release, the project will enable a competitive telecoms sector through regulatory reforms to be made in the development of the information, communication and technology […]

Employment Market Surge Expected

Youths in Myanmar look set to take advantage of the increasing number of businesses arriving in the country, as job opportunities will be created, according to sources within the employment industry. U Than Soe, editor-in-charge of Job Opportunity Journal told Myanmar Business Today that a mushroom in sales and service centres would benefit the local […]