The United Kingdom has pledged to invest over US$385 million in Myanmar in two years time, according to statistics of the Directorate of Investment and Company Registration.
The UK invested... [ More ]
Yet this space is highly contingent on a number of volatile factors: the goodwill of the current President and his associates in Parliament, the ability of Aung San Suu Kyi to assure the... [ More ]
If the 10-nation ASEAN bloc is to double its economy by 2020, then a large thrust of the growth rate will be coming from Myanmar.
According to consultancy McKinsey Global Institute,... [ More ]
Myanmar was one of East Asia’s fast growing advanced economies in the early 20th century. But decades of isolation took its toll and Myanmar was left out of the region’s remarkable... [ More ]
India is to open a new four lane motorway to allow traders and tourists to drive from its eastern tea state of Assam into Burma, Thailand and eventually Cambodia and Vietnam.
The new "trilateral highway" is aimed at creating a new economic zone ranging from Calcutta on the Bay of Bengal to Ho Chi Minh City on the South China Sea.
The first phase of the project was agreed during Indian prime minister Dr Manmohan Singh's visit to Burma this week when he and President Thein Sein set a 2016...
Incheon International Airport Corp. leads a group picked as the preferred bidder on Myanmar’s new $1.1 billion air hub, the latest in a series of global deals as the Southeast Asian nation opens itself after decades of isolation.
Incheon is in talks with Myanmar’s Department of Civil Aviation on details, aiming to sign a contract this year, open the facility in 2018 and operate it for 50 years, South Korea ’s Transport Ministry said today in a statement. Hanthawaddy International...
AHMEDABAD: The Export-Import Bank of India (Exim Bank) will open its eighth overseas office at Yangon in neighbouring Myanmar next month, a top official said here.
The bank already has presence in Singapore, Washington DC, London, Dubai, Addis Ababa, Johannesburg and Senegal.
"Myanmar offers lot of business opportunities to India. Already, we have different projects lined up in the country and to tap the country's potential in various sectors, we will open an office in Yangon next...
Fresh legislation has paved the way for a major shift in Myanmar’s financial sector, spearheaded by the separation of the central bank from the Ministry of Finance and Revenue.
The long-awaited Central Bank of Myanmar (CBM) Law was signed by the president, Thein Sein, on July 11. The legislation secures the bank’s autonomy and clarifies its responsibilities. Widely seen as one of the key building blocks in the recent round of reforms, the law is set to radically shift the way the...
Displaced residents will be paid compensation for land taken for the Thilawa Special Economic Zone (SEZ) Project in line with norms practiced by the World Bank and the Japan International Cooperation Agency (JICA), according to officials.
The move came after Deputy Minister Hset Aung of the National Planning and Economic Development held negotiations on July 30 with displaced villagers.
"We [local people] were in negotiation with the deputy minister as to the project. The deputy minister...
China’s Southeast Asia Gas Pipeline Company (SEAGP) said they act responsibly in their handling of compensation for the land disputes stemming from the Myanmar-China gas-pipelines.
SEAGP released the press statement after the local people in Kyaukphyu area voiced demands for confiscated lands under the gas pipeline project.
The company has invited the locals to contact their office regarding with the compensations for any damaged crops and confiscated lands.
According to their press...
It is a paradoxical situation. Even as India frets over the rising cost of fuel like imported liquefied natural gas (LNG), two of the country’s public sector companies are able to sell gas at a much lower price to China. State-run ONGC Videsh (OVL) and GAIL
India along with its international partners are selling gas from two of their Myanmar blocks — A1 and A3 — to Chinese consumers at $9/million metric British thermal unit (mmBtu). In comparison, India pays $12-15/mmBtu for spot LNG...
BANGKOK — Foreign airline companies big and small are falling over one another in a battle for landing rights in Myanmar to tap into Southeast Asia’s new and rapidly rising tourist destination.
Myanmar may still be a long way behind its neighbor Thailand in visitor numbers, but since President U Thein Sein began opening up the country two years ago, tourism has become one of its biggest businesses.
More than 20 foreign airlines now fly direct to several cities in Myanmar, ranging from...
RANGOON — Since beginning its transition to quasi-civilian rule in 2011, Burma’s relations with the outside world have changed dramatically and, for the most part, positively. One notable exception, however, has been the country’s ties with China, which have seen a series of setbacks, mostly involving Chinese investment in mega-projects that many Burma citizens see as exploitative.
After the suspension of the Chinese-backed Myitsone hydropower dam project in Kachin State in September...
Visa International expects the number of Myanmar merchants accepting its credit card for transactions will climb to between 5,000 and 6,000 in 3-5 years.
Like other multinational companies jumping on the investment bandwagon in Myanmar after the US lifted economic sanctions, Visa entered the market a year ago, and about 100 local merchants have installed electronic data capture devices, with another 100 ATMs accepting Visa cards.
Visa card payment and cash withdrawal services are...
Bargaining is an art long practiced in Asian countries including Myanmar . So feel free to ask for a proper discount when shopping in places where prices are not marked. Be careful in dealing with sidewalk vendors who... ... More
