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 ]
MANDALAY, 11 February 2013: Myanmar’s government has allocated land for foreign investors to build 100 hotels and for local investors to build 192 hotels at the new Tada-U Hotel Zone near Mandalay.
The hotels will be part of a massive industrial park and business district that will be built from scratch. Foreign investors will be encouraged to build factories to tap low labour costs. Mandalay is the nearest gateway city to Bagan famous for its ancient temples and chedis.
Myanmar Tourism...
The visa section at the Myanmar Embassy in Tokyo used to be a quiet and lonely place, but not anymore. Pointing to boxes containing hundreds of Japanese passports bearing business visas, the staff there told me the deluge began in early 2012.
ANA now has all-business-class direct flights to Yangon from Tokyo, and is operating near full capacity. The Japan External Trade Organization (JETRO) office in Yangon reports being swamped by requests for assistance by Japanese firms looking to cash in...
The cows roaming the runway at Kyaukpyu airport make way a few times a week for the small prop aircraft carrying passengers to and from the island of Ramree, just 20km off Myanmar’s west coast.
The sleepy seaside town of Kyaukpyu, home to a faded collection of rickety wooden houses and once grand mansions, is the modest trading hub of one of Myanmar’s poorest areas. Electricity and running water are severely limited, local industry is almost non-existent and many live on just over a...
Myanmar’s central bank may allow foreign lenders to form joint ventures with local banks as early as April in a further step to overhaul the financial system, according to an official who oversees regulatory issues.
The central bank will set regulations for joint ventures in the financial year starting April 1, said Khin Saw Oo, head of the Financial Institutions Regulation and Anti-Money Laundering Department. Officials are considering a requirement that local banks own at least 20...
Yangon, Myanmar, February 5, 2013—The World Bank Group and Myanmar reinforced their commitment to grow the economy, create jobs and reduce poverty through accelerated reforms and a focus on energy infrastructure development during a three-day visit by a high-level delegation led by IFC Executive Vice President and CEO Jin-Yong Cai. Mr. Cai was joined by World Bank East Asia and the Pacific Vice President Axel van Trotsenburg, IFC Asia Pacific Vice President Karin Finkelston, and MIGA Vice...
Nippon Express Co., Ltd. is a worldwide leader in logistics services. Its head office is based in Tokyo, Japan. The company was established in 1937 as a semi-government transportation service provider.
Nippon Express annual revenues exceed US$14 billion. Nippon Express has a strong global network that spans over 80 countries, with company direct operations in 33 nations.
Nippon Express is also an operator of heavy machinery and construction equipments, expert at transporting heavy goods and...
Carlsberg Group, the world's fourth-largest brewery group, has announced its entry into the Myanmar market.
The Danish brewer has signed a strategic partnership agreement with Myanmar Golden Star (MGS) Breweries. Carlsberg will be 51pc owner of the newly formed Myanmar Carlsberg Co, Ltd. Under the agreement Carlsberg plans to brew and market beer in the country under its world-renowned label.
"We have followed the developments in Myanmar closely and are encouraged by the recent political...
Myanmar’s transformation into a coming-of-age tourist hub seems to be set on course. An influx of visitors has made the tourism industry one of the fastest growing sectors in the emergent economy, sending income generated through tourism soaring by 70 per cent in 2012.
A positive signal that President Thein Seins’ barrage of reforms have created increased interest in the nation, revenues from tourism jumped to over $534 million in 2012, up from $315 million in 2011.
This growth in...
The garment industry has been growing rapidly in the past two years on increased orders from Japan and South Korea, a spokesperson for the key industry body said last week.
U Aung Win, vice president of the Myanmar Garment Manufacturers Association, said the value of orders from Japan more than doubled between 2010 and 2011, to US$350 million from $170 million. Orders from South Korea increased to $240 million in 2011 from $120 million in 2010.
He added that the statistics for 2012 are...
NEW DELHI--India's Bharti Airtel Ltd. has expressed interest in bidding for a license to offer telecommunications services in Myanmar, a person with direct knowledge of the matter said Wednesday.
"We have sent our expression of interest in acquiring a mobile phone services license to the Myanmar government," the executive, who asked not to be named, told The Wall Street Journal.
Separately, a Bharti Airtel spokesman said the company is "always open to opportunities, provided there is a...
