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 ]
While GE moves away from banking and finance, it is looking to expand in Myanmar. After 60 years of crippling isolation from the U.S. and much of the E.U., sanctions have been lifted in the past year. Within days of President Obama giving the green light to American firms to invest in Myanmar, GE inked a $2 million deal to provide X-ray machines to a local hospital.
Myanmar has a population of approximately 60 million, has lived in isolation for more than 22 years, and is extremely...
There have been significant political changes in Burma over the past year and a half. Aung San Suu Kyi is a member of parliament, protests and unions have become legal and press freedoms have substantially increased. Following the partial lifting of sanctions, investors are ready to engage. However, while the investment environment outlook is risk positive for sectors such as oil and gas, there are still hurdles that investors will have to navigate.
The interim country strategy, endorsed by the World Bank board at a meeting in Washington, will guide the institution's work in Myanmar, also known as Burma. The bank also approved an $80 million grant for community-driven rural projects.
Pamela Cox, World Bank vice president for East Asia and the Pacific, said another $165 million will be made available to Myanmar once the country has cleared its overdue debt to Bank, which totals roughly $400 million.
Talks on how the $165 million will...
Title and Definition
1. This law is called the Foreign Investment Law.
2. The following terms mentioned in this law must be interpreted as stated below.
(a) The State means the Republic of the Union of Myanmar.
(b) The Commission means the Myanmar Investment Commission formed under this law.
(c) The Union Government means the Union Government of the Republic of the Union of Myanmar.
(d) The Citizen includes guest citizen or person recognized as citizen. The term...
The Myanmar Human Capital Fund closed in September after raising $25 million from family offices and wealthy individuals from Mongolia, Russia and oil-rich countries in the Caspian region, said Alisher Ali, managing partner at Silk Road. The fund will invest in so-called knowledge-driven industries such as the Internet, information technology, education and health care, he said, declining to identify the companies.
“Myanmar’s gross domestic product may easily double within five years,” Ali...
Yangon, 27 January - The agricultural sector in Myanmar has considerable growth potential and should be prioritized in programmatic responses to the current economic challenges within Myanmar. This view emerged at the Myanmar Humanitarian Partnership Group meeting, a monthly meeting attended by donors, UN agencies, non-governmental organizations and other members of the humanitarian community in Myanmar.
“Economic growth and poverty alleviation will depend on improvements in productivity...
Yoma Strategic Holdings, a Singapore-listed company focusing on real estate, agriculture and car sales in Myanmar and China, has raised S$101.2 million ($82 million) from a placement of new shares.
The offering coincided with President Barack Obama’s half-day visit to Myanmar yesterday, taking advantage of the positive headlines and the boost in optimism about the country’s reform process that surrounded his trip.
Early yesterday, Yoma also announced that it had agreed to buy 80% of a...
It seems impossible that twenty-one years have gone by since Daw Aung San Suu Kyi, the Nobel laureate, who won an overwhelming victory (82%) in the elections of 1990, was put under house arrest by the Junta, which failed to recognize her election as the head of the National League for Democracy and future prime minister. To this day the repressive military dictatorship still rules with an iron fist. This past summer Suu Kyi’s house arrest was extended until after the upcoming elections this...
Translating that promise into real dollars isn’t going to be easy, however. Lots of nations possess the potential for economic greatness. The problem is that few are ever able to realize it. Burma has been a case study in that failure. For 50 years now, Burma has been one of Asia’s great disappointments. After World War II, it was one of the region’s richest nations; today, it has sunk to among its poorest. Behind the woes is crushingly awful economic management by a military dictatorship that...
YANGON, Myanmar—For Tim Love, a vice chairman of advertising giant Omnicom Group, OMC -1.41% it was an opportunity too good to pass up: an entire country, off the map for most Western investors for decades, embracing foreign investment in a place with untapped energy resources and 60 million people.
Here was Myanmar, also known as Burma, with the wagons "going full speed," says Mr. Love, and clients clamoring to get a foothold.
But doing business here is something of a challenge. As a...
Myanmar Time is 6:30 hours ahead of Greenwich Mean Time. For example on a Monday at midnight in Yangon , it will be:
New York (Eastern Standard) 1230 hours on Monday
London (GMT) 1730 hours on Monday
Bangkok 0030... ... More