In town for the second annual Myanmar Economic Forum in Yangon, Michael Taylor, managing director and chief credit officer of Asia Credit Policy at Moody’s Investors Service, spoke to The Myanmar Times on the event’s sideline this week about the opening up of Myanmar’s finance sector and earning public trust in the banking industry.
Now that the Myanmar Investment Law has been passed by both houses of parliament, attention turns to the new Myanmar Companies Act, which senior business sector figures say will be key in improving corporate governance.
As local rice prices continue to tumble, worried farmers and traders are asking the government to step in with purchase guarantees. China, Myanmar’s main customer for rice, is reducing its demand amid a crackdown on illegal cross-border trade.
The faded pillars on the Pansodan flyover are about to get a little more colourful. Japanese firm Hello Communications is leasing out over 180 pillars for advertising that could net the firm around US$14,000 a month – although local business will take some convincing.
The American Gem Trade Association (AGTA) arrived in Myanmar for the first time this week to assess the gems sector and build trade relationships ahead of an anticipated end to the US sanctions regime, which would allow the legal import of Myanmar rubies and jade.
Yangon Public Bus Company – operator of the new Bus Rapid Transit (BRT) Lite bus routes – has started a second round of shares sales, while the government has extended the application deadline for firms interested in rolling out the BRT system city-wide.
Demand for coffee is booming in an increasingly caffeinated world, and although Myanmar is capable of producing international-quality product it has neglected the crop for years. But agricultural ministry officials are hoping to develop a coordinated strategy to ramp up production and connect cultivators with world markets.
Around 30 customers participating in Construction and Housing Development Bank’s (CHDB) Housing Saving Account program now have the requisite balance to give them priority in applying for low-cost housing, the bank’s managing director has said.