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 ]
RANGOON — Burma’s government will receive a US$100 million loan from the Export-Import Bank of China, which it will use to fund cooperative programs that support farmers and the urban poor, lawmakers said.
Upper House member Phone Myint Aung said lawmakers and cooperative representatives attended a meeting at the Ministry of Cooperatives (MOC) on Sunday, where President Thein Sein set out the loan conditions and planned usage of the funds.
“The president informed participants that...
RANGOON — Residents who will be displaced by the Thilawa Special Economic Zone (SEZ) in Rangoon Division are complaining that although the project is due to begin next month, procedures to compensate them for lost land remain unclear.
Plans to resolve land issues have lacked transparency, Mya Hlaing, a spokesman for farmers in the project area in Thanlyin Township, told The Irrawaddy.
“Negotiations are continuing, but no arrangements have been made to relocate local residents,” he...
Myanmar plans to give the green light to three of six hydroelectric projects to begin construction on the Thanlwin River within three months, a high-ranking official at the Ministry of Electric Power said on August 16.
“We plan to build six hydropower projects on the Thanlwin River,” said the official who asked not to be named. “Feasibility studies on three of the projects have already been completed, but we need to have more detailed discussions before we are ready to sign memorandums...
Norway’s Telenor Group said that they would recruit approximately 3000 Myanmar nationals to provide local communication services. Telenor won the recent Myanmar telecommunication tender.
Telenor Group will recruit employees in three phases. In the first phase 25 management level employees who are proficient in business development and strategic planning will be recruited. They will execute administrative duties to launch Telenor Myanmar. The application period for these employment...
A project to restore three examples of Mandalay’s 19th century royal heritage has led to a surprising discovery, as workers unearthed evidence of an unexpected additional building while digging a toilet on one of the construction sites.
The wooden pillars discovered by accident are believed to be from a rest hall for Buddhist monks who were sitting examinations, U Win Myint Hlaing said, and are located near the Thudhamma Assembly Hall, just outside the walls of Mandalay’s palace. Their...
The Myanmar government, led by President U Thein Sein, has vowed to fulfill two common desires of the people, namely stability and rule of law, and socio-economic development of the country.
Addressing a ceremony of the swearing-in of some newly- appointed deputy ministers in Nay Pyi Taw Wednesday, U Thein Sein called for ensuring political stability to enforce the rule of law and stability, while striving to end six-decade-long conflicts with ethnic armed groups.
He stressed the need to...
India-based Ramco is planning to set up a cement factory in Myanmar. “Our company has been jointly working with Agro Coro International Pte Ltd to import cements from Ramco for six months. We are now in discussions with respective officials to establish the factory,” a source told local press.
Interest in Myamnar’s cement industry has been increasing as the country opens up to the world after 50 years of military rule into a newly-born democracy.
Currently there are 14 cement plants...
PTT Exploration and Production Plc (PTTEP) have given assurances that its five-year US$3 billion investment on oil exploration in Myanmar will be transparent.
Tevin Vongvanich, PTTEP president and chief executive, said the US$3 billion allocation would be part of the company's US$25 billion investment to produce 600,000 barrels of oil in 2020.
The major portion of the US$3 billion investment, US$2 billion, will be invested in Myanmar Zawtika Project and production should start in the...
NEC Corporation is bringing its expertise in information and communications technology as well as social infrastructure to Myanmar with the opening of offices in Yangon in February and in Nay Pyi Daw.
"There is tremendous growth potential in Myanmar and this is an opportune moment for NEC to contribute to the country's IT needs," Takayuki Morita, a senior vice president of the Japanese company, said yesterday.
"NEC will focus on providing key international communications networks, such...
"Sixty million people falling out of the sky - you're not going to see that again in our generation," quoted The Irrawaddy describing business opportunities in Myanmar.
Investors including carmakers have been rushing to tap those opportunities. Nissan and Mercedes-Benz are the latest global OEMs to join Suzuki, Mitsubishi, Toyota, Ford, GM, Kia and Hyundai, which began establishing a hold in the country by starting off selling spare parts and services.
So what is the potential of...
The voltage throughout Myanmar is 220-230 Volts AC. Most of the international class hotels in Yangon have their own generators. However in other places, voltage varies greatly and power often goes out. Valuable or... ... More
