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 ecommerce platform Alibaba Express, Nicky can find what he wants, quickly and easily.

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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. However, the sector is reluctant to definitively move into the organic market due to high costs of transport and infrastructure.

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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 grow and develop the YSX.

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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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