Yet this space is highly contingent on a number of volatile factors: the goodwill of the current President and his associates in Parliament, the ability of Aung San Suu Kyi to assure the military that her potential ascendancy is not a threat to their economic interests and the on-going civil conflicts not flaring into civil war. The restrictive apparatus of the former military state is still available for the government to use to curtail freedom of expression – the most draconian laws are...
If the 10-nation ASEAN bloc is to double its economy by 2020, then a large thrust of the growth rate will be coming from Myanmar.
According to consultancy McKinsey Global Institute, Myanmar’s economic output could quadruple by 2030 to $200 billion if the country maintains a steadfast pace of economic and political reforms. The report, released on May 30, said that Myanmar would have to diversify its economy away from the agricultural sector and towards more high-tech industries.
Under...
NEC Corporation is bringing its expertise in information and communications technology as well as social infrastructure to Myanmar with the opening of offices in Yangon in February and in Nay Pyi Daw.
"There is tremendous growth potential in Myanmar and this is an opportune moment for NEC to contribute to the country's IT needs," Takayuki Morita, a senior vice president of the Japanese company, said yesterday.
"NEC will focus on providing key international communications networks, such...
What’s less than two months old, has hit the headlines globally, and has more than 79,000 ‘likes’ and over 16,000 people talking about it?
No, it’s not Prince George Alexander Louis but the precocious SQUAR of Myanmar, the once isolated Southeast Asian nation’s own version of social networking site Facebook.
China has Weibo, the ‘Chinese Facebook’; Indonesia has Zuma; and now Myanmar has jumped on the bandwagon of Asian countries seeking a virtual place to meet, chat and do...
NEC Corporation today officially opened its Yangon and Naypyidaw offices in Myanmar, said a statement issued by the company here today.
Bringing its expertise in information and communications technology (ICT) as well as social infrastructure, NEC Corporation sees great potential in Myanmar, which has undergone rapid economic growth in recent years.
NEC s more than 35 years of experience with Myanmar s communications infrastructure, including telephone switchboards, wireless equipment,...
Myanmar has the highest relative growth in Southeast Asia, according to the latest tourism statistics from United Nations World Tourism Organisation (UNWTO).
Statistics from the UNWTO shows that Southeast Asia showed the highest growth among Asian subregions, with nine per cent more arrivals in 2012.
"In absolute terms, growth was led by Thailand with a 16% increase in tourists over 2011. Cambodia (+24%) and Vietnam (+14%) also posted strong double-digit growth last year. Myanmar saw the...
YANGON: Myanmar has introduced interbank currency trading, a senior central bank official said, the latest reform to the financial sector, which follows the managed float of the kyat currency from April 2012.
Foreign banks are not allowed to operate in Myanmar and the local banking system is rudimentary, so the interbank market is likely to be tiny initially.
“We have allowed local private banks to trade in foreign currency among themselves effective Monday, taking a major step forward...
Myanmar will have its own stock exchange soon, according to the country’s deputy minister for finance and revenue, Maung Maung Thein. Preparations and implementations for the market are already underway.
“Earlier we planned to begin in 2015, but it would be too late. So, we are beginning this year,” said Thein, according to Mizzima, a Myanmar news portal based in India.
To establish the stock exchange, the Central Bank of Myanmar is cooperating with the Daiwa Institute of Research...
Deputy Minister for Finance and Revenue, Maung Maung Thein confirmed on 15 July that Myanmar will begin implementing a stock exchange market this year.
Earlier announcements state the stock exchange market will be established by 2015, but preparations are already under way.
“Earlier we planned to begin in 2015, but it would be too late. So, we are beginning this year,” says Maung Maung Thein.
The Central Bank of Myanmar is cooperating with the Daiwa Research Institute and Japan’s...
RANGOON — Burma’s government has taken a fresh step toward liberalizing its state-dominated telecommunications sector by publishing a notice on Wednesday inviting investment proposals from local and foreign companies for nationwide telecommunications services, including telephone and Internet connectivity.
State television also announced on Wednesday that the minister for communications, posts and telegraphs, Thein Tun, had resigned, but it was unclear whether it was related to the...
Myanmar may be one of the few relatively untapped telecommunications market left in the world and its once-reclusive government is now opening up the sector for foreign investments. However, telcos and service providers need to tread with care given the hazy regulatory framework and lack of infrastructure for foreign players to scale their operations.
Irene Ng, head of Asia at GSM Association (GSMA), noted that there are not many greenfield telecom markets available today, and Myanmar was an...
Did You Know?
Over 80 % of the people embracing Theravada Buddhists. There are also Christians, Muslims, Hindus and even some animists. However there is full freedom of worship for followers of other religions. Christian missionaries... ... More
