Local exporters are scrambling to take advantage of Myanmar’s new access to the European market.
Foreign direct investment in the manufacturing sector has risen sharply.
High-ranking officials from four ministries will be assigned to embassies in eight major foreign markets at the end of this month to promote trade and investment, according to the Ministry of Commerce.
Mango prices are surging because yields have plunged more than 33 percent due to lack of rain, exporters say.
Myanmar’s jewelry industry is on the move, expanding its presence in the international market and forging ties with international companies whose high-tech expertise will allow them to shift to value-added products, industry representatives say.
Myanmar’s economic potential has been vastly enhanced by the access to foreign resources – in the form of new trading opportunities, the inflow of foreign investment, elevated levels of bilateral and multilateral assistance – that President U Thein Sein’s commitment to political, social and economic reform has unleashed.
The Germans are coming – and they mean business. The German Chambers of Industry and Commerce will open an office in Yangon within three months, its deputy chief executive officer Dr Volker Treier said on May 2.
A fourth South Korean bank has opened a representative office here and its executive vice president says a surge of investment from the East Asian nation could be on the way.
Xpress Money announced links with two domestic banks to offer money remittances into Myanmar from 150 countries, during a launch ceremony at Traders Hotel on April 29.
Ford Motor Company held a high-profile event on April 30 to announce that it and its local partner, Capital Automotive, a subsidiary of Capital Diamond Star Group, will open their first “state of the art” showroom in Yangon by year’s end.
