Yangon at dusk. Htet Tayza discusses Myanmar. Image by mydaydream.

Technology is fundamentally changing the taxi industry in Myanmar’s capital, with Uber and Grab the latest tech based companies to compete for market share.

This competition is good news for both local drivers and passengers in Yangon who will benefit from competitive rates and service.
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Image of a tablet computer showing diagrams. Htet Tayza discusses fintech.

Recently, the World Bank published its ‘Doing Business’ report for Myanmar in 2017. This marks countries based on specific criteria to work out how easy it is to do business in that country, and recommends improvements.

The report states that Myanmar ranks at number 170 in ‘ease of doing business’. It’s an improvement of one place on 2016.

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Pagoda Spires. Myanmar has called for increased tourism

On 21 July, a brand-new Ford assembly plant opened in Yangon, allowing the company to sell cheaper models locally. The US car maker will be selling two new models at lower prices to eager customers in Yangon. As well as being assembled locally, they will also be distributed locally and Ford customers will be able to get Yangon licence plates.

The new plant is situated at the East Dagon Industrial Zone, and will assemble a range of vehicles. These include Ford 4WD Ranger and Everest models. They’re priced at between US$30,400 for the Ford Ranger Double Cab and $49,500 for the 7-seat Ford Everest SUV.

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Yangon at dusk. Htet Tayza discusses Myanmar. Image by mydaydream.

While there has been a government lottery in operation in Myanmar since 1938, it wasn’t regulated. This has prompted the government to draft and submit a new lottery bill, as well as move into the 21st century with the introduction of an e-lottery.

U Kyaw Win, the Minister for Planning and Finance, said: “The bill aims to impose a tax in accordance with law and to introduce an e-lottery.”

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Tech start up could win $1m following Seedstars Yangon win

The Myanmar round of the worldwide start up competition ‘Seedstars World’ has been won by Yangon-based logistics startup Kargo. The team is now scheduled to go to Switzerland to take part in the boot camp organised by the competition. And, to make it more exciting, they’re in with a real chance of winning up to […]

Yangon at dusk. Htet Tayza discusses Myanmar. Image by mydaydream.

Myanmar’s growth target for the country’s economy this financial year has been set at 7 per cent according to the National Plan legislation.

This boosts U Kyaw Win’s earlier prediction. The Minister for the Ministry of Planning and Finance has previously said that Myanmar’s economy will take off within the financial year of 2017-18 ‘like a plane from a runway’. Although these remarks came in for criticism from some in the business sector, there seems to be some reasons to be optimistic.

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Image of a smartphone in use. Htet Tayza discusses mobile payments

Asia loves fintech – the region’s businesses have embraced innovative financial technological solutions to age-old problems like no other place on earth.

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