Jun 17, 2018

European manufacturer of tomato paste looking for Myanmar importer (purchasing can be shared 50/50)

For more information, please contact evi@myanmar-business.org

Myanmar tin and wolfram tender

for more info, please contact evi@myanmar-business.org

May 25, 2018

Bloomberg invests in Myanmar through SkyNet deal

Bloomberg has made its first major foray into the Myanmar media landscape by partnering with pay-TV network SkyNet.

Under the deal, Bloomberg will provide SkyNet with data, resources and staff training, plus content that will be translated into the local language.

The announcement:
In addition, select programming from Bloomberg’s global network will be translated and subtitled into Myanmar language for SkyNet’s subscribers. The content will be available across all platforms, including TV, digital, radio and mobile.
“We are delighted to partner with a leading broadcast provider like SkyNet to bring financial literacy to a fast emerging market,” said Dan Molloy, Commercial Director for Asia Pacific, Bloomberg Media Group. “As the country continues to open up to foreign investors, we want to drive meaningful conversations around the business and investment landscape of Myanmar. This agreement is a critical element of our global expansion strategy, which includes partnering with news providers in important markets around the world. “
“Myanmar is a high-potential growth market for pay-TV and there is a real gap and hunger for real-time business and technology news,” said U Ko Ko, Vice President (News and Infotainment), SkyNet. “We are excited to partner with Bloomberg Media Group to bring Myanmar’s growth story to the world, and global business and technology news developments to Myanmar.”
Bloomberg Media Group, the consumer-facing media organization of Bloomberg LP, is the leading global business and financial media company reaching a premium audience of more than 80 million consumers. With over 2,700 journalists and analysts across 120 countries, Bloomberg Media Group connects influential audiences to news, ideas and intelligence across every platform: digital, TV, radio, print and live events.
Source: Bloomberg

May 24, 2018

Maha Worldbridge F&B (Myanmar) becomes official importer and distributor for European Frutino Wines (wine + natural fruit juice)

For distribution and sales opportunities, please contact:

Maha Worldbridge Mynamar F&B Co.,Ltd.
#51 B1, Shwe Hintha St, 6.5miles, Hlaing Tsp,
Yangon City, Myanmar
Mobile: +959402714756

May 23, 2018

Myanmar Has its First Credit Bureau

Myanmar Central Bank approved Myanmar Credit Bureau Limited to serve as a credit bureau, a gap needed for SMEs to have access to financial services as well as for the banks to give credit to SMEs, on May 17.

Myanmar Credit Bureau Limited will serve as mediator between banks, non-bank financial institutions, and other financial organizations. It will provide information on paying off debt by individuals, organizations, and other related information to the debtors.

The announcement came out within a week after U Myint Swe, Vice President, said the cabinet decided to establish a credit bureau that will enable SMEs to have loans without any collateral, at UMFCCI on May 11.

Establishing a credit bureau will help overcome the collateral obstacle facing SMEs that discourage them from accessing financial services. The bank, using the information provided by the credit bureau, will assess the borrowers’ reliability. This will strengthen access to financial services for SMEs, the Central Bank said in its announcement.

“Having a Credit Bureau can prevent fraud,” Dr. Hla Nyunt, Deputy Managing Director of Global Treasure Bank, said.

In other developed countries, banks have easy access to information of the SMEs’ details and history, financial statement, how they get credits and how they repay the debt. In Myanmar, SMEs need to meet a lot of requirements, such as collaterals and recommendations, U Phyo Min Thein said.

Myanmar Credit Bureau Limited is a joint venture between Myanmar Banks Association and Singapore based NSP Holdings, a company with experience in the field. They later changed the company’s name to Asian Credit Bureau Holdings. The joint venture received the approval from Directorate of Investment and Company Administration last year.

Source: Myanmar Business Today

May 17, 2018

Myanmar becomes 3rd biggest exporter of human hair

Aye Aye Thein, 55, cuts hair for a living at Insein market in the north of Yangon, Myanmar's largest city.

But unlike most hairdressers, she doesn't charge her customers. Instead, she pays them. 
to read the full story, please click HERE 

May 13, 2018

Myanmar allows full foreign ownership in retail and wholesale business

Foreign companies are now allowed to invest in Myanmar's retailers and wholesalers, including holding 100% stakes, as the country makes efforts to lift foreign investment amid the Rohingya refugee crisis.

The Ministry of Commerce announced the change on Friday, explaining that it wants to increase competition in the sectors and promote price stability and technology transfers. The new rule took effect on Wednesday.

But restrictions still apply. Foreign companies must invest at least $700,000 to take an up to an 80% stake in retailers, and $3 million for anything more. They cannot own minimarkets and convenience stores with floor spaces of 929 sq. meters or less. For wholesalers, the minimums are set at $2 million for up to an 80% stake and $5 million for more.

The ministry is also letting foreign companies themselves bring their products into Myanmar and sell them instead of going through local importers as in the past. This could encourage automakers and appliance manufacturers to make further inroads here.

Foreign companies could technically take stakes in Myanmar retailers and wholesalers before if they received the ministry's approval. But almost none got the green light. Japanese retailer Aeon, one of the handful that did, began operating supermarkets with a local partner in 2016.

Emerging economies often restrict foreign investment to protect homegrown retailers and wholesalers. It is unusual for a country like Myanmar, with per capita gross domestic product of only $1,200 or so in 2016, to relax the rules so much.

But de facto civilian leader Aung San Suu Kyi has come under fire for delays in key economic reforms. And human rights abuses against the Rohingya Muslim minority, hundreds of thousands of whom have fled to neighboring Bangladesh, are making American and European businesses uneasy about operating in Myanmar.

The country approved about $5.7 billion of foreign investment in the 12 months ended March, down for a second straight year. A further decrease could throw a wrench into a development strategy heavily reliant on foreign money.

Source: NIKKEI