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 Parliament has approved the government’s decision to borrow US$100 million from China, despite opposition from the National League for Democracy (NLD) and other parties.
Lawmakers from the ruling Union Solidarity and Development Party (USDP) and military-appointed MPs were among those who agreed on Thursday to approve the loan, which the government says will fund a cooperatives program that support farmers and the urban poor.
At a meeting last weekend at the Ministry...
One of the two winners of mobile network development licences in Burma, Telenor, has named three other foreign firms it will involve in its plans.
“Telenor confirmed that the company has signed memorandums of understanding with China’s equipment maker Huawei, Ericsson of Sweden and India’s Wipro,” the industry news website Telecom Lead said.
“Formal agreements with these companies will be finalized when Telenor receives its operating licence. The [Burma] government has said that...
Myanmar has left its olden days. With sanctions are being lifted, the Myanmar currency ‘Kyat’ going up to 818 for one US dollar along with the recent opening to the hitherto hermetic country is showing great potential to become the next hot spot in the book of travel.
With investors flying in, local people will get an easier environment for business. Also moral reservations harbored in the minds of international visitors will soon dissipate.
Last few months, Myanmar’s name has...
The match-making business for prospective traders and investors in Thailand and Myanmar is booming, prompting Krungthep Turakij newspaper and G Business Link to work together to promote a new era of bilateral business ties.
Vichai Kemtongkum, director of G Business Link, which has been doing business in Myanmar for nearly 20 years, said: "Myanmar has just opened up to the rest of world after several decades of isolation, so there are tremendous opportunities for business, industry and...
THAI enterprises should not delay when considering business and trade opportunities with Myanmar, otherwise they may lose out to other foreign investors, said Aung Than, vice chairman to the Mandalay Chamber of Commerce in Myanmar.
With the ASEAN Economic Community (AEC) scheduled to commence in 2015, Aung Than said many foreign investors, particularly those from China, were already in Myanmar looking to reap benefits from the country's new openness.
"Thais are still investing less in...
BANGKOK: Thailand's Siam Cement Pcl plans to build a 12.4 billion baht ($388 million) fully integrated cement plant in Myanmar as part of its drive to tap strong demand for construction materials in Southeast Asia.
The facility would be Siam Cement's first in Myanmar and will have annual capacity of 1.8 million tonnes, the company said in a statement. The plant is expected to start production by mid-2016.
Siam Cement, Southeast Asia's second largest cement maker, is also building...
Effectively regulating tax is vital to controlling rising land prices in Myanmar, finance deputy minister said at a press conference in Nay Pyi Taw on August 23.
“Actually, land prices increase because people buy and sell lands as if they are gambling. Myanmar has just started to develop and so people want to do some gambling. That gambling spirit cannot be easily stopped. We are trying to give a vent for the gambling spirit, and that is to establish the stock exchange. The stock exchange...
In May 2013, a choice residential property on Pyay Road in Yangon’s Golden Valley sold for US$972 per square foot (psf). Today, two months later, the owner has divided the property in half—and the asking price for one half of the bifurcated property is US$1,228 psf.
In Yangon today, stories like this are becoming commonplace. The recent political and economic reforms that have transformed Myanmar from a hermit nation to the new jewel of Asia have had an especially profound impact on the...
The Myanmar-China natural gas pipeline (Myanmar section) commenced delivery of natural gas to the Peoples Republic of China (PRC) after it was inaugurated by Myanmar Vice President U Nyan Tun at Mandalay on July 28. The pipeline is part of the Myanmar-China Oil and Gas Pipeline project, which also includes a crude oil pipeline.
Starting from Kuaykphyu on Myanmar’s Arakan coast, it passes through the Rakhine state, Magway and Mandalay regions and Shan state and enters the PRC at Ruili,...
Myanmar has worked out a 75-year plan to develop its Dawei Special Economic Zone (SEZ) in southern Tanintharyi region, seeking strategic partnership with Japan in additional to Thailand and inviting international tenders and developers for the implementation of the SEZ project.
The plan, in five phases of different duration, will be implemented on land covering 44,850 acres (18,164 hectares) in total, according to U Aye Myint, chairman of the Central Working Committee for Implementation of...
