Burma’s leading local banks are set to offer the Giro Billing Payment System and debit cards this month with credit cards planned by next year.
Burmese private banks begin using the internationally-recognized Letter of Credit system to aid financial mobilization and facilitate trade.
The World Bank steps up support for reforms in Burma by helping clear almost US $400 million debt and providing an extra $85 million in grants.
Burmese businessmen are complaining of increased import tariffs imposed by the Chinese authorities at the Sino-Burmese border that have slashed their profits.
The US government’s decision last week to extend a ban on Burmese imports for three years is likely to forge closer trade ties with Thailand, claim experts.
Burma should adopt “a value-based strategy, not a volume-based strategy” with a view to tourism, says a UN consultant.
Burmese high street banks are preparing to offer credit card transactions to facilitate smooth money transfers in time for the 2013 Southeast Asian Games.
New public companies are being registered in Burma, with experts saying that businesspeople are laying the groundwork for the Asean Economic Community in 2015.
Burma requires economic and legal reform in order to become competitive in a 21st century environment, an industry expert tells dozens of leading US companies in Rangoon.
Burmese migrants are finding that transferring money home through official channels is more costly than through private hundi agents.
Burma’s crumbling public transport system is set for a major overhaul with 3,000 new buses to be imported from Japan under a joint initiative.
Burmese business leaders say the historic easing of US sanctions will not have a dramatic impact on the domestic commercial environment.
Burma’s Central Bank allows 11 local banks to operate foreign currency accounts in the first step towards an international finance system crucial for foreign direct investment.
Mom ‘n Pop corner shops and franchised convenience stores may soon disappear from the streets of Burma as 7-Eleven prepares to launch outlets nationwide.
Exporters and factory owners in Rangoon say the new exchange rate is killing their businesses.
The entry of Coca-Cola into the Burmese beverage market has local producers worried they’ll be swept aside by one of the world’s best-known brand names.
Fearing a repeat of the Myitsone Dam fiasco, companies involved in the Shwe Gas Project mount a charm offensive.
Despite the suspension of Western sanctions, Burma continues to contend with obstacles to its efforts to expand trade and investment.
Mitsubishi Heavy Industries expresses a strong interest in manufacturing in Burma and sees real potential in the country’s car market.
