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 ]
President Thein Sein has proposed that a former head of the central bank of Myanmar be brought back as governor as part of reforms that will make it independent from the Ministry of Finance, a source at the president's office said on Monday.
"In his message sent to the Union Parliament, the president last week proposed appointing Kyaw Kyaw Maung, retired central bank governor, as the governor," the senior official said, asking not to be identified.
Kyaw Kyaw Maung, a career banker in his...
World Bulletin / News Desk
Myanmar has signed a revised contract that increases its share of the profits from a controversial Chinese-backed copper mine, the country's largest, officials said.
The revision is seen as an attempt by the government to appease public anger over the project by giving the country a bigger share of the profits, after protests last year that triggered a violent police crackdown.
The new terms give the government 51 percent of the profits from the Letpadaung...
Myanmar is planning to conduct a nationwide housing survey to address the issue of housing shortages, especially in the Yangon area where over a million residents still live in low-quality houses, according to sources from the Ministry of Construction.
At present, the population in Yangon has increased more than ever and Yangonites are facing skyrocketing real estate prices. One out of six million inhabitants of Yangon are living in low-quality houses, said the ministry.
“At the...
Myanmar government has formed a separate national reform leading committee, led by President U Thein Sein, to direct efforts on reform program for the remaining 30 months of the present five-year term of office, replacing project commission set up in the past, official media reported Saturday.
Summoning Cabinet Ministers, Deputy Ministers and Chief Ministers of region and state governments, U Thein Sein urged to form delivery units or task forces and working groups to implement the policies...
Myanmar President's Office has named three more new advisers to the president, in a move to strengthen handling of economic and legal affairs in the process of the government's reform.
Thursday's official media quoted an announcement by the President's Office as reporting that Dr. Aung Tun Thet and Dr. Zaw Oo were appointed as economic advisers to the president, while U Nyan Naing Win was named legal adviser.
One of the three former political advisers U Ye Tint resigned from...
Japanese investments are expected increase significantly in Myanmar’s manufacturing, transport and information technology sectors, according to the Directorate of Investment and Company Administration (DICA).
An official from DICA said there is an influx of Japanese businessmen visiting their office for information to open branch offices and to make investments in Myanmar.
Among them include machinery-manufacturer Kubota Corp, industrial and engineering corporation Hitachi Zozen,...
Local investment in Myanmar has risen 110 billion Kyats (US$114 million) to 3 trillion Kyats (US$3.2 billion) in July, according to the Ministry of Commerce.
Over 101 billion Kyats - 91 percent of the investments made by local businesses last month - was added to the manufacturing sector. Total local investments in manufacturing reached 801 billion Kyats ($827 million) by the end of July.
Local businessmen invested in new rice factories, sugar plants and manufacturing various...
What’s less than two months old, has hit the headlines globally, and has more than 79,000 ‘likes’ and over 16,000 people talking about it?
No, it’s not Prince George Alexander Louis but the precocious SQUAR of Myanmar, the once isolated Southeast Asian nation’s own version of social networking site Facebook.
China has Weibo, the ‘Chinese Facebook’; Indonesia has Zuma; and now Myanmar has jumped on the bandwagon of Asian countries seeking a virtual place to meet, chat and do...
Japanese banking firms are planning to provide loans through Myanmar's agricultural banks to help fund farming businesses, according to Myanmar Livestock Federation.
Kotaro Kikuchi from Japan International Corporation Agency (JICA), visited the Livestock Federation last week and queried about the difficulties faced in breeding animals and other farming practices.
"Due to political, economic and social reform processes, we [JICA] are going to meet NGOs for providing assistance. And then,...
Dennis Sun, a Hong Kong jewelry collector, has been buying jade for three decades. Lately, it has been harder to snag the perfect piece as mainland Chinese buyers drive prices through the roof.
At a Christie’s auction in May, he watched a jadeite ring sell for about HK$20 million ($2.6 million), or five times its estimated price. Last month, he bought a jade bangle for almost HK$1 million even though the colour and quality weren’t all had hoped for.
“The prices went up so high, if I...
The population of Myanmar is at present over 52 million with the Bamar, the majority race, making up about 70 percent. The average household size is estimated at 3 or 4 people. As regards education in Myanmar (according... ... More
