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 ]
ANGON, Myanmar—The world's biggest consumer companies are flocking to Myanmar, filling the once-pariah nation and its backward economy with goods previously unavailable to its 60 million people.
But not everyone is happy. Some of the country's biggest conglomerates—plugging away at the cash-strapped market for decades and fighting hard to grow despite crippling Western sanctions—are now finding themselves drowned out by foreign competitors including Coca-Cola Co. KO -0.30% of the U.S....
Myanmar has come a long way in revamping its financial system since the military gave up formal power two and a half years ago. The country's new civilian leaders made its central bank independent last month and ushered in several other changes meant to smooth the way for more foreign investment. And over the past two weeks, the government has allowed foreign-exchange trading between local banks, according to state media, and appointed a new management team for the central bank.
But weighty...
Wanbao Mining, a Chinese company engaged in exploration and production of mineral resources, has agreed to up its investment in Myanmar's controversial Latpadaung copper mine project to just under $1 billion, a report said Wednesday. The investment follows a contract renegotiation, which resulted from villagers in farming areas surrounding the mine protesting against the loss of their land.
Wanboa's move comes despite the fact that a recent contract renegotiation will trim its stake in the...
Myanmar is scrambling to put up more office blocks in Yangon, fearing that an acute shortage of office space in the commercial capital will put off foreign investors making a beeline to invest in the reform-embracing country.
Rental costs of limited office space in the city have jumped multifold, surpassing even rates of increase in New York and Tokyo due to pent-up demand.
The government is concerned that the rising costs and shortage, which may only ease in about three years as...
Myanmar President's Office Minister U Hla Tun has called on local people in a copper mine project area to take collaborative and constructive attitude to ensure sustainable benefit of the work for their own region, official media reported Monday.
Addressing representatives from 33 villages in the project area, U Hla Tun, who is Chairman of the Committee for Implementation of the Probe Panel's Report on Latpadaungtaung Copper Mine Project, stressed the need for resumption of the copper mine...
Foreign banks are not allowed to operate in Myanmar and the local banking system is rudimentary, so the interbank market is likely to be tiny initially.
"We have allowed local private banks to trade in foreign currency among themselves effective today, taking a major step forward in financial reforms," the central bank official told Reuters.
"They now can compete on equal terms with each other with compete transparency," he added, asking for anonymity since he was speaking to the media...
Myanmar's State Mining Enterprise-1 on Wednesday signed an amendment to the production sharing contract for the Lepadaungtaung copper mine project with Myanmar Economic Holding Ltd (MEHL) and China's Wanbao Mining Ltd in Nay Pyi Taw.
Attending the signing ceremony were Myanmar Minister at the President's Office U Hla Tun, Minister of Mines U Myint Aung, MEHL Chairman Lieutenant-General Khin Zaw Oo. and President of Wanbao Mining Ltd Chen Defeng.
A press release quoted the terms of...
Business people from over twenty Japanese firms will visit Myanmar to explore investment opportunities, according to Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI).
About 50 business people from 20 industrial sectors, such as machinery, electric and power, construction and garment, will be led by the Executive Vice President of Japan External Trade Organisation (JETRO) and they will be here on August 5-7. On August 6, the Japanese business delegation will meet...
In the first quarter of 2013 Myanmar has received a total of US$810 million in foreign investment from 11 countries, according to Dr Khin San Yi, Deputy Minister for National Planning and Economic Development.
In the first quarter of 2013 Myanmar has received a total of US$810 million in foreign investment from 11 countries, according to Dr Khin San Yi, Deputy Minister for National Planning and Economic Development.
Investors from the United Kingdom, Canada, Australia, Thailand, Vietnam,...
Resource-rich Burma has completed two of four steps in its bid to apply for Extractive Industries Transparency Initiative candidature, but the murky legal environment in which civil society groups exist is posing challenges as the government strives to meet the third requirement.
The government publicly announced in mid-2012 that the country intended to implement the international governance standard known as EITI, fulfilling the first candidature requirement. That was followed by the...
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
