htettayza

All articles by htettayza

 

How Myanmar could capitalise on the millennial market

Yangon based youngster, Nicky Min Ye Myat, does his shopping online. He’s 28 years old and following the global trend for Millennials to do most of their business over the internet. He is a personal trainer and finds the selection and prices online better than the clothes available in the local shopping mall. Using popular...
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Government assistance for accessing business loans

A scheme to help small and medium-sized enterprises (SMEs) apply for a bank loan in Yangon is set to launch after data collection is completed. Announced at the Myanmar Federation of Chamber of Commerce and Industry (UMFCCI) in August by Yangon Chief Minister U Phyo Min Thein, the project will be welcomed by SMEs....
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Going organic could help Myanmar raise value of crops

There is real potential to develop an organic farming market in Myanmar. This could boost the value of crops that are produced for export, and in turn boost the standard of living for farmers in the country. As it stands, Myanmar’s farmers already use fewer chemical pesticides and fertilisers than many of the country’s neighbours....
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New investment law authorises Japanese hotel chain project

In 2020, Hotel Okura, the hotel chain based in Japan, will open its first hotel in Myanmar. The project will be the company’s first in Myanmar and will centre around the construction of Okura Prestige Hotel in Yangon....
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Tax reduction for firms listed on Yangon Stock Exchange

The Ministry of Planning and Finance has announced that those companies listed on the Yangon Stock Exchange (YSX) are entitled to a 5% reduction in corporate income tax. This means they will only need to pay 20% income tax. The move comes in a bid to encourage more companies to jump on board to help...
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Myanmar government lifting ban on livestock export

As part of its long term economic recovery plan, the Myanmar government has announced it will lift the ban on exporting livestock. The Ministry of Planning and Finance also reports that it will offering loans to farmers in an attempt to further boost Myanmar’s agricultural industry....
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Myanmar government set supply electricity at a loss

The huge amount of money needed for the government to supply electricity to the whole of Myanmar for 2017/2018 means that they are supplying this vital resource at a loss. An amount of K300 billion is needed by the government to supply the electricity across the country, but according to U Myint Oo, the deputy...
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Crackdown down on financial scams in Myanmar

There has been a move from the Securities Exchange Commission of Myanmar (SECM) to crack down on illegal trading and financial scams carried out by unlisted companies in Myanmar. The SECM appealed to the public in July 2017 to gather information on a specific company trading in Mawlamine. The company is called I Smart Co...
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More than 1000 small businesses in Myanmar will receive loans

The government of Myanmar has recommended that more than one thousand small and medium sized businesses (SMEs) should come under consideration to receive bank loans. This information has been released by the Central Department of Small and Medium Enterprises Development (CDSMED) and is good news for the start-ups in the country. The Ministry of Industry...
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Regional growth just as important as major cities

A new report by International Growth Centre (IGC), a research centre based in the UK, has stated that Myanmar’s economic development depends just as much on regional capitals as it does on the major cities of Yangon and Mandalay. The report highlighted how important it is to develop secondary cities as part of the established...
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Networks in Myanmar finally get 4G

In a move that can only improve business and the economy as a whole, Myanmar can now go 4G. Local telecom operators can now use the 1800MHz range that has been allocated by the government. The Posts and Telecommunications Department, which comes under the government’s Ministry of Transportation and Communication, has granted permission to Myanmar...
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Piloting blockchain technology in Myanmar

Myanmar is at the forefront of the piloting of blockchain technology – an innovative way of making online transactions easier. The technology, that uses a shared digital ledger to record transactions across a number of computers, was used recently by BC Finance, the biggest microfinance institution in Myanmar....
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Transparency is key to attract investment

Experts from the International Finance Corporation (IFC) and the Securities and Exchange Commission of Myanmar (SECM) held a business forum at the Stock Exchange in Yangon recently. Its aim was to discuss the best ways to attract investment and increase stakeholder confidence. Listed firms were invited to hear key speakers discuss disclosure and transparency standards...
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World Bank urges Myanmar government to implement changes in finance sector

A report (called the Observance of Standards and Codes or ROSC) from the World Bank and International Money Fund (IMF) has just been released. Among its findings were that the revisions the government has made to its statutory institutional framework for accounting and financial reporting will align the country much more with international good practice....
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Economic progress hasn’t yet reached Myanmar’s rural children

The UN Children’s Fund (UNICEF) has warned that while progress has been made in terms of economic growth in Myanmar, life is still difficult for children in remote areas. A report by the United Nations shows that the government’s reforms and efforts at reconciliation and improving the economy still leave around 2.2 million kids in...
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Political stability and the economy

In order for any burgeoning economy to find its feet and work for the country, political stability is key. And nowhere more so than in Myanmar. After so many decades of military dictatorship, the economy is new, delicate, and growing rapidly. According to EU ambassador Roland Kobia in an interview with The Myanmar Times, the...
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The Many Advantages of Mobile Banking

Technology and banking are now inextricably linked. Over the last decade, the two have combined to form a new and ever evolving way of doing business in the finance industry, whether personal, business, investing or any kind of fund management. The term FinTech (financial technology) has emerged as an umbrella word for all sorts of...
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Fintech arrives in Myanmar

With a newly burgeoning economy and an open market for the first time in 50 years, along with rapid advances in technology, Myanmar is ripe for fintech companies to offer new products and services. All around the world, technology is transforming people’s access to financial management services, whether for personal use or for investment and...
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Will Myanmar’s economy mirror Vietnam’s growth?

Myanmar undoubtedly faces challenges when it comes to opening up its economy in order to flourish in the future. According to a leading British diplomat, Myanmar has the potential to grow its economy by as much as 10 per cent, effectively following in the footsteps of Vietnam’s economic growth. In comments made at Bloomberg’s conference...
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Myanmar Set to Modernise Banking System

The banking system in Myanmar is key to modernising the financial system of the nation, in the face of its rapid economic growth. An audit is soon to underway of state owned banks in Myanmar – the first of its kind for several decades. It’s hoped that the results of this comprehensive audit will clarify...
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Myanmar’s Foreign Trade Rises in Latest Fiscal Year

Myanmar’s government is currently focusing on facilitating greater foreign involvement with the nation’s economy, to supply small businesses with the funds required to foster growth. Figures show that these efforts are paying dividends, as Myanmar’s foreign trade rose during the latest fiscal year....
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Myanmar Finance Plan Receives World Bank Backing

Myanmar is currently developing its nascent finance sector, to boost national economic growth. Global financial body the World Bank recently signalled its support for these efforts, by announcing it will provide a loan to bankroll the Myanmar Financial Development Project. Htet Tayza comments....
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Singapore and UN to Promote ASEAN Financial Inclusion

Singapore has the most developed finance sector, especially in the area of financial technology (fintech), of all the Association of South-East Asian Nation (ASEAN) territories. The city-state is, therefore, well-placed to promote sorely-needed financial inclusion across the region, which its central bank, the Monetary Authority of Singapore (MAS), has just teamed up with the UN...
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Singapore and London Named Top Global Fintech Sectors

We are seeing the gradual rise of a robust financial technology (fintech) sector around the world, with financial hubs such as London, New York and Singapore fast-developing thriving fintech industries. London and Singapore were recently named the world’s top fintech hubs.  Htet Tayza comments....
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Myanmar Becomes Newest Member of SASEC

Myanmar has just become the newest member of the South Asia Sub-regional Economic Cooperation (SASEC) partnership, which could create opportunities for its business, potentially lifting the nation’s economy to new heights. Htet Tayza explains the significance of this development for Myanmar....
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South-East Asian Fintech Deals Break Records in 2016

South-East Asia, which includes Asia’s most prominent financial hub, Singapore, is fast-developing a thriving financial technology (fintech) market. Htet Tayza comments on fresh figures which indicate that the number of fintech deals executed within this region broke records in 2016....
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Htet Tayza Talks Fintech in Myanmar With Bloomberg

As Managing Director of Myanmar’s Asia Green Development Bank (AGD), Htet Tayza recently discussed some of the key issues facing Myanmar’s financial sector with Bloomberg. Htet argued that by harnessing the potential of financial technology (fintech), Myanmar could promote financial inclusion among its large, unbanked population, something which AGD is already aiming to achieve....
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Group Launched to Promote Global Fintech Standardisation

It is key that firms operating in the booming worldwide financial technology (fintech) space encounter consistency between national markets, to minimise costs so they can instead focus on growing revenue. New reports show that we are one step closer to achieving this goal, as a group has been launched to promote standardisation throughout the global...
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ASEAN Exchanges to Boost Regional Capital Markets

The Association of South East Asian Nations (ASEAN), must build strong capital markets, in order to thrive economically. The leaders of the ASEAN Exchanges’ member-bourses have recently spoken out, to outline how they will continue and expand upon existing initiatives, to achieve this critical goal. ...
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Co-Working Becoming More Popular in ASEAN

The rise of digital technologies, such as high speed Wi-Fi, is changing employee and company attitudes to working best practises worldwide. This has facilitated the onset of the co-working trend, which new reports indicate is quickly catching on in the Association of South-East Asian Nations (ASEAN)....
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Myanmar Central Bank Proposes Major Change

Myanmar is developing up a robust, outward-facing banking sector, to ensure that businesses can secure the capital needed to fuel national economic growth. It is crucial, for example, that banks can supply trade financing for Myanmar’s importers and exporters, so they can move goods across global borders. The Director of Myanmar’s Central Bank, U Win...
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Myanmar Banks to Adopt Standard Chip Card

Myanmar’s financial sector is currently working towards standardisation, in order to supply consumers with the comprehensive financial products required to promote financial inclusion. As part of these efforts, national and global industry bodies The Myanmar Payment Union (MPU) and UnionPay International (UPI) recently agreed to roll out the UnionPay chip card standard across the nation....
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Myanmar and Thailand Strike Major Deal

Fellow South-East Asian country Thailand is one of Myanmar’s most important trading partners. New reports suggest that this relationship is set to strengthen over the next few years, as Myanmar and Thailand recently struck a major deal to boost their respective private sectors. Htet Tayza comments....
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International Credit Cards Launched in Myanmar

Myanmar’s largest private bank has partnered with a global payments firm, to launch credit cards which can be used by consumers in the South-East Asian nation globally. Htet Tayza comments....
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Asia Receives Half of Global Fintech Investment

Asia is rapidly developing a robust financial technology (fintech) sector. New evidence suggests that Asia now receives half of global fintech investment, largely due to the booming Chinese market....
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Blockchain Could Save Financial Services Over £100bn

Blockchain is being increasingly adopted by financial institutions, as it allows these companies to safeguard their operations from cyber-crime. Htet Tayza comments on new figures which suggest that the adoption of blockchain could save global financial services over £100bn in the next three years....
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Project To Raise Thai Investment In Myanmar

The Thai Board of Investment (BOI) is increasingly focusing its efforts on the Association of South-East Asian Nations (ASEAN). Reports show that over the next few years, the body will open overseas offices in the ASEAN cities of Yangon, Hanoi and Jakarta, to capitalise on the region’s economic potential....
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The Future Still Looks Bright For ASEAN Economic Community

The Association of South-East Asian Nations (ASEAN) is moving ever-closer to economic integration, in order to compete with the economic powerhouses of the world, like the EU and the US. Last year, the bloc formed the ASEAN Economic Community (AEC), to help achieve this goal. On the eve of its one year anniversary, experts said...
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Data Management Deemed Vital To ASEAN Economies

The findings of a new report suggest that the Association of South-East Asian Nations’ (ASEAN) member states need to implement pro-growth digital data management policies to promote digital economic expansion, as well as the growth of the ASEAN Economic Community. Htet Tayza comments....
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Fintechs Turning Attention To Myanmar’s Unbanked 

The global financial technology (fintech) sector is expanding at a rapid pace, increasingly changing how people worldwide access critical financial services. Now many fintech firms are now moving into Myanmar, spotting an opportunity to supply mobile payment services to its unbanked citizens....
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Myanmar’s Economy To Eventually Surpass Singapore’s?

Myanmar is one of South-East Asia’s fastest growing economies. In contrast, Singapore is the region’s economic powerhouse. However, Myanmar’s unofficial leader, State Counsellor Aung San Suu Kyi, recently said that her country’s economy will surpass Singapore’s in 20 years’ time....
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Digital Payments Power APAC Fintech Growth

New data recently released by Frost and Sullivan, a global consulting and market research firm, indicates that digital payments are driving the growth the Asia-Pacific’s (APAC) financial technology (fintech) market. Htet Tayza comments....
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Singapore to Develop Blockchain Initiative For Inter-Bank Payments

Singapore’s central bank, the Monetary Authority of Singapore (MAS), recently announced that it will develop a pilot project, to use blockchain technology to make inter-bank payments more secure....
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IFC To Help Myanmar With Secured-Transactions Network

In a statement, World Bank Group member the IFC has announced that it will help Myanmar develop a secured-transactions network. This project is designed to make it easier for the nation’s micro, small and medium sized enterprises (MSMEs) to access finance, by providing movable assets as collateral. ...
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Myanmar To Set Up Blockchain-Based Stock Exchange

Officially opened in December 2015, the Yangon Stock Exchange (YSX) started trading in 2016, increasing foreign activity in Myanmar’s economy. Htet Tayza comments on reports, which suggest that a new project is looking to use blockchain technologies to make the YSX more secure in future....
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IMF says Myanmar is making progress

The International Monetary Fund is happy with the progress Myanmar is making in regards to economic growth, as positive statements from the organisation’s officials imply. Htet Tayza comments on the positive development covered by Mizzima. ...
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How can Asian financial institutions rise to the challenge of Fintech?

Nearly 20% of ‘traditional financial services’ business is threatened by the rise of Fintech, according to data released by the International Data Corporation (IDC) at the annual Philippines Financial Services Summit. Htet Tayza comments on the findings....
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Myanmar Investment Law To Come Into Force Soon

New reports confirm that Myanmar’s long-awaited Investment Law will soon come into force. Htet Tayza asks how the enactment of this legislation could benefit Myanmar’s economy going forward....
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Myanmar Proves Popular With Singaporean Firms

Myanmar’s government has made it a priority to increase foreign investment flows into the South-East Asian nation in recent years. New reports suggest that this strategy is proving effective, as Myanmar is becoming a popular investment destination for Singaporean firms. Htet Tayza comments....
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Myanmar To Open Insurance Sector Up To Foreign Firms

Htet Tayza comments on new reports, which suggest that Myanmar’s government is planning to open up the South-East Asian country’s insurance sector to foreign companies in 2017....
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