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U Kyaw Kyaw Maung, Governor, Central Bank of Myanmar (CBM): Viewpoint
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Viewpoint:U Kyaw Kyaw Maung The successful implementation of the second wave of reforms associated with the Myanmar Sustainable Development Plan will focus on peace, stability and good governance, and will help us achieve the UN’s Sustainable Development Goals. Although the economy slowed to about 6.2% between April to September 2018, due to weakening external and domestic demand, we expect…
Viewpoint

U Tin Win, Country Managing Partner, EY Myanmar: Viewpoint
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Viewpoint:U Tin Win Before the military administration came to power in 1962, Myanmar was one of the most significant economies in ASEAN, boasting a well-educated workforce and a favourable trade balance. The country was a key exporter of textile products and other manufactured goods to Thailand, and its rice exports were shipped across the globe. However, this was reversed after the military…
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Cheah Swee Gim, Director, Kelvin Chia Yangon: Viewpoint
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Viewpoint:Cheah Swee Gim The National League for Democracy (NLD) first entered Myanmar’s political and economic mainstream in 2015. They will, once more, contest a position in the 2020 elections. The primary focus of the government during this period has been the resolution of social issues throughout the country, notably in the border regions. With the NLD’s term approaching its end, the…
Analysis

Asia Pacific countries work to address the effects of climate change

Posted OBG AdminPosted in Uncategorized

Recent years have seen the issue of climate change and its potential ecological and economic effects move more clearly into the spotlight. It is now widely accepted that the planet cannot sustain current high-carbon industrial and consumer behaviours. With scientific knowledge on the subject now better informed and more reliable, economic models used to forecast the fiscal impacts of a steadily…
Analysis

Myanmar Sustainable Development Plan to achieve goals through public-private partnerships

Posted OBG AdminPosted in Uncategorized

Among its provisions, the Myanmar Sustainable Development Plan (MSDP) 2018-30 – the country’s long-term development strategy – highlights the need for major reforms in the way the nation trades. Noting that years of isolation from the international community has led to a deterioration in the country’s trading capacity, the MSDP outlines a plan to boost exports and facilitate investment…
Analysis

Investment reforms expand Myanmar capital markets

Posted OBG AdminPosted in Uncategorized

Now occupying the impressive downtown premises of the former central bank, the Yangon Stock Exchange (YSX) celebrated its third year of business in March 2019. However, as one of the region’s youngest stock exchanges, the YSX is still in the process of catching up to its regional peers. The YSX is seeking to establish a wider international profile, as foreign investment and international…
Analysis

New regulations lead to liberalisation of financial services sector in Myanmar

Posted OBG AdminPosted in Uncategorized

As part of ongoing efforts to liberalise the financial services sector and increase credit to the private sector, the Central Bank of Myanmar (CBM) has introduced regulations to facilitate foreign investment in domestic lenders. In January 2019 the CBM issued Regulation No. 1 of 2019, allowing foreign banks and financial institutions to hold equity of up to 35% in local banks, starting in January…
Analysis

Increased access to microfinance boosts inclusion in Myanmar

Posted OBG AdminPosted in Uncategorized

In a country where 70% of the population work in rural communities, and around a quarter of all citizens live below the poverty line, microfinance is one of the few available sources for personal and business funding. Myanmar’s microfinance institutions (MFIs) are thus a vital part of efforts to boost access to credit. Indicators of financial inclusion have historically been low in the country.…
Analysis

Asia Pacific aligns financial reporting regulations with international norms

Posted OBG AdminPosted in Uncategorized

The banks of Asia Pacific have been subject to successive waves of regulatory changes in recent years. Remaining compliant with strengthened anti-money laundering rules, know-your-customer guidelines and a raft of sustainability and transparency initiatives proved to be a resource-consuming process for the region’s lending institutions. However, one regulatory shift in particular has monopolised…
Analysis

Mobile banking prioritised under Myanmar's financial inclusion strategy

Posted OBG AdminPosted in Uncategorized

Mobile banking has been a key factor in the recent improvement of Myanmar’s financial inclusion rates. Following the liberalisation of the telecoms industry in 2014, the country has seen a surge in mobile phone ownership, partly as a result of cheaper data and better network competition, making it an effective channel for financial services and products. The country’s electronic payments…