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Myanmar is a country rich in jade and gems, oil, natural gas and other mineral resources. In 2013, its GDP (nominal) stood at US$56.7 billion and its GDP ( PPP ) at US$221.5 billion. [ 1 ] The income gap in Myanmar is among the widest in the world, as a large proportion of the economy is controlled by supporters of the former military government.
Myanmar Citizens Bank [6] Glory Farmer Development Bank (G Bank) Kanbawza Bank; Myanma Apex Bank; MD Bank; Myanmar Metro Bank; Myanmar Oriental Bank; Myanma Tourism Bank [7] Shwe Rural and Urban Development Bank (Shwe Bank) Tun Commercial Bank (formerly Tun Foundation Bank) uab bank; Yoma Bank; First Private Bank
In 2016, uab bank and Asian Development Bank signed a trade finance agreement to support businesses in Myanmar. [9] In 2017, uab bank launched Visa-branded credit cards in Myanmar to cater to the demand for electronic payments in the country. [10] uab bank and Global Star Co. Ltd. partnered with Huawei to distribute solar energy products in ...
The world risks a "great fracture" of its economic and financial systems, U.N. Secretary-General António Guterres said on Thursday at a summit with Southeast Asia's ASEAN bloc, China, the United ...
The conglomerate is involved in various business sectors in Myanmar, ranging from trading and automobiles to insurance and microfinance. Young Investment Group (YIG) operates in various business sectors in Myanmar. They have established themselves as a prominent player in these industries, contributing to the country's economic development.
IGE also possesses Myanmar's second largest timber trading company. It also exports Burmese rice. IGE Group of Companies was established in 1994 in Burma, and registered in Singapore in 2001. The company is also active in the country's oil and gas sector. [citation needed] In 2007, IGE earned over US$75 million in revenues. [1]
During the 2018 ASEAN summit, State Counsellor Aung San Suu Kyi called on businesses to invest in Myanmar. She delivered a keynote speech, inviting foreign entities to invest in the country’s priority sectors (including agriculture, food processing, fisheries, export promotion, import substitution, energy, logistics, education, healthcare and construction), saying that investing in Myanmar ...
This subsequently expanded into the finance, agriculture, aviation, manufacturing, and tourism sectors. [ 2 ] Aung Ko Win (also known as Saya Kyaung) is a former schoolteacher with close connections to General Maung Aye , the former second in command of the former military junta, the State Peace and Development Council (SPDC). [ 1 ]