Saturday, 29 June 2013

New Light of Myanmar (29 June 2013 - Saturday)

The Mirror Daily (29 June 2013 - Saturday)

Myanma Alinn Daily (29 June 2013 - Saturday)

New Light of Myanmar (27 June 2013 - Thursday)

The Mirror Daily (27 June 2013 - Thursday)

Myanma Alinn Daily (27 June 2013 - Thursday)

New Light of Myanmar (26 June 2013 - Wednesday)

The Mirror Daily (26 June 2013 - Wednesday)

Myanma Alinn Daily (26 June 2013 - Wednesday)

New Light of Myanmar (25 June 2013 - Tuesday)

The Mirror Daily (25 June 2013 - Tuesday)

Myanma Alinn Daily (25 June 2013 - Tuesday)

Speech by FS at Hong Kong - Myanmar Business Luncheon in Yangon, Myanmar

Hong Kong (HKSAR) - Following is the speech delivered by the Financial Secretary, Mr John C Tsang, at the Hong Kong - Myanmar Business Luncheon in Yangon, Myanmar, today (June 27):

President Aung, Ambassador Yang, distinguished guests, ladies and gentlemen,

I am pleased to be here in Myanmar and to meet you all today.

My thanks to the organisers of this luncheon for bringing us together for this important occasion.

Myanmar, US reach bilateral agreement for economic cooperation

Beijing: Myanmar and the United States reached on Thursday a new bilateral agreement for economic cooperation, said a press release of the U.S. Embassy here.

The agreement, signed by Myanmar Deputy Minister of National Planning and Economic Development U Set Aung and U.S. Ambassador Derek Mitchell, formalizes the November 2012 pledge of U.S. President Obama to provide 170 million U.S. dollars' assistance to Myanmar over the next two years, the release said.

Myanmar selects two telecom licensees, paving way for affordable mobile phones

Myanmar is a step closer to offering affordable mobile services after selecting two international carriers to launch telecommunications networks in one of Asia's last untapped markets.
Norway's Telenor and Qatar's Ooredoo were named the winners in a government tender that is opening Myanmar's once tightly regulated mobile services sector. The carriers will help provide badly needed telecommunications infrastructure in a nation of 60 million, where only about 5 percent of the people use mobile phones.

Myanmar set to benefit from direct Australian aid

After around two-and-a-half decades of isolation, Myanmar may soon be in a position to receive direct developmental aid funds from Australia.
Currently Australian aid to Myanmar, also known as Burma, is delivered through multilateral groups such as the United Nations High Commissioner for Refugees (UNHCR) and non-government organisations.

Myanmar's Infrastructure, Following Its Economy, To Be Developed Rapidly - 80% Mobile Penetration In 3 Years

With Western trade sanctions lifted, Myanmar is now the investment darling of the world -- in addition to Coca-Cola (NYSE:KO) and Unilever (LON:ULVR), IT and communications companies have all set their eyes on the country as one of the last unconquered frontiers of Asia.

With a population of 60 million, Myanmar currently has a mobile penetration rate of 5 percent. Internet penetration is even lower at around 1 percent, according to PC World. 

10 steps Myanmar must take

Editor’s note: Suzanne DiMaggio is vice president of global policy programs at the Asia Society. Priscilla Clapp is a retired minister counselor in the U.S. Foreign Service and former Chief of Mission at the U.S. Embassy in Burma. The views expressed are their own.

The still nascent transition in Myanmar has emerged as one of the most promising efforts at democratization in the world today. After more than half a century of brutal, debilitating military rule, the country is in the process of a calculated top-down course reversal, which has unleashed a bottom-up awakening of political, economic, and civil society activity.

Matrade To Embark On Ict Mission To Myanmar

KUALA LUMPUR, June 24 (Bernama) -- The Malaysia External Trade Development Corporation (Matrade)will embark on an information communication technology (ICT) mission to Myanmar.

The mission from Aug 19-22 is to seek business opportunities in ICT infrastructure, e-government, healthcare, banking and finance, e-education and other ICT solutions, Matrade said in a statement today.

Friday, 28 June 2013

Twin Tower to rise near world-famous pagoda in Yangon

A twin tower which consists of two high-rises, one 34 and a 32-storeyed, will be built at the open air market area near the world-famous Shwedagon Pagoda in Yangon, according to Yangon authorities.

The Twin Tower project, which will take four years to complete, is a joint venture between Yangon City Development Committee (YCDC) and Shwe Taung Company, a leading local construction firm. The proportion of their stakes has not been disclosed.

Natural gas to become alternative fuel for Myanmar

Natural gas is soon to play a vital role in Myanmar's energy sector, eventually overtaking petrol according to energy sector officials.

Thaung Win, the Chairman of Energy and Renewable Energy Committee, was speaking at the Myanmar-Korea Natural Gas Vehicle Forum on June 24.

International telecom companies await Myanmar license announcement

The winners of two mobile operating licences are expected to be announced today, opening the way for international companies to begin investing in Myanmar's fledgling communications sector.

Qatar's Ooredoo and Norwegian Telenor win Myanmar telecom bid

Myanmar's government has finally announced Qatar Telecom (Ooredoo) and Norwegian Telenor as the winners of two mobile operating licences, defeating many expectations in the hotly contested race for one of Asia's untapped telecom markets.

Myanmar to benefit from Myanmar-China pipeline

Myanmar will profit from the Myanmar-China gas pipeline project, according to sources from China National Petroleum Corporation (CNPC).

New Light of Myanmar (28 June 2013 - Friday)

The Mirror Daily (28 June 2013 - Friday)

Myanma Alinn Daily (28 June 2013 - Friday)

CP Workers’ Woes Highlight Concerns about Big Agriculture in Burma

The billionaire boss of the giant Thai conglomerate Charoen Pokphand Group (CP), Dhanin Chearavanont, is on record saying he runs his businesses on Buddhist principles. But Burmese migrant workers employed in his seafood-processing factories in Thailand might have reason to question those principles after their experiences at the hands of exploitative subcontractors CP has, until now, used as go-betweens in its dealings with non-Thai employees.

Last minute development in Denis O’Brien mobile phone licence bid

The scheduled announcement today of the winners of a mobile phone licence competition in Burma, where Denis O’Brien’s Digicel heads a leading bid, appeared to have been dramatically delayed yesterday.

MTN misses out on Myanmar licence

MTN has missed out on one of the two lucrative telecommunications licences up for grabs in Myanmar.Norwegian operator Telenor announced that it had been declared a successful applicant for a nationwide telecommunications licence in Myanmar, along with Qatari firm Qtel (Ooredoo).

Digicel fails in bid for Burma telecoms licence

Norway’s Telenor and Qatar’s Ooredoo won licences today to provide telecommunications services in Burma, beating a bid from Denis O’Brien’s Digicel and bringing foreign companies into the sector for the first time.

Thursday, 27 June 2013

Myanmar moves to delay foreign telecom deals

YANGON, Myanmar (AP) — Foreign companies hoping to tap into one of the world's final telecom frontiers grappled with lingering political uncertainties Wednesday after Myanmar's lower house of parliament ruled that licenses for two new cellphone networks should be delayed until a law governing the sector is passed.

Myanmar Phone Contest Pits Soros Against SingTel: Southeast Asia

Myanmar’s contest for two telecommunications licenses attracted bidders from around the globe seeking a foothold in one of the last remaining untapped markets, where only one in 10 people has a mobile phone. 

Myanmar To Grant Wireless Licenses To Norway's Telenor, Qatar Telecom

One of Asia’s least connected countries is getting wired at last. Myanmar said Thursday that it had awarded cellular-phone licenses to Norway’s Telenor and Qatar Telecom, ending months of speculation over which foreign consortia would get the nod. Ten other bidders had sought to build out networks in Myanmar, a country of around 60 million people with less than 9% mobile phone penetration. Myanmar, also known as Burma, already has two domestic cellphone operators, but service is poor. 

Wednesday, 26 June 2013

New Light of Myanmar (24 June 2013 - Monday)

The Mirror Daily (24 June 2013 - Monday)

Myanma Alinn Daily (24 June 2013 - Monday)

New Light of Myanmar (23 June 2013 - Sunday)

The Mirror Daily (23 June 2013 - Sunday)

Myanma Alinn Daily (23 June 2013 - Sunday)

Myanmar advertising agency to create jobs for youths

An advertising agency announced it is planning to create more than hundred job opportunities for Myanmar youths in six months time.

Myanmar to invite tenders for coffee shops on Yangon-Mandalay Expressway

Myanmar will invite tenders for running coffee shops with public toilets on Yangon-Mandalay Expressway soon, according to sources from the Ministry of Construction.

The ministry has constructed some coffee shops and some more are still under construction on the expressway, it said.

Private companies lease land plots for fuel storage and distribution

Over 135 acres owned by Myanmar Port Authority at Thilawa Special Economic Zone in Thanlyin and Kyauktan Townships of Yangon region have been leased to private fuel companies to operate fuel storage and distribution, according to Directorate of Investment and Companies Administration (DICA ).

"Chang Beer", the top-trafficked beer into Myanmar: officials

Beers and inexpensive food products were the most seized among the illegal imports from Thailand into Myanmar through border areas, according to officials from mobile teams operated by Department of Border Trade (DBT) under the Ministry of Commerce.

PTT plans more investment in Myanmar

PTT is geared up to pour billions of US dollar investment into Myanmar, to extend its presence from the upstream oil and petroleum business to downstream, said its president and CEO Pailin Chuchottaworn.

Myanmar hospital joins hand with Singapore's Parkway

Singapore's Parkway Hospital has signed a MoU with Myanmar's Zabuthiri Specialist Hospital yesterday in Nay Pyi Taw, the official capital of Myanmar, to work together for medical services in both countries.

Japan helps Myanmar to launch its first Data Center

Myanmar is planning to launch its first Data Center to set up a very first stock exchange in the country with technical assistance from Japan, according to the sources from the Central Bank of Myanmar.

First equity research reports FMI stocks

The first equity research report of the First Myanmar Investment (FMI), a leading conglomerate in Myanmar, has been released by Thura Swiss Company ahead of the planned launch of the Myanmar Stock Exchange in 2015.

Unilever to open factory in Myanmar

Unilever, a UK-based multinational consumer goods company is planning to launch its first factory in Myanmar next month, as part of a US$667 million investment program.

Unilever is the world's third-largest consumer goods company according to 2011 reports. Its products include foods, beverages, cleaning agents and they are the world's largest producer of ice cream.

Telecom companies start recruiting ahead of Myanmar license announcement

Competition between foreign telecom companies intensified as many begin recruiting local employees less than a week before Myanmar's government is due to announce the winners of two lucrative operating licenses.

MIC grants permits for hotels in national marine park

The Myanmar Investment Commission (MIC) has allowed a joint venture company to start a hotel business on an island that is part of a national marine park in the pristine Mergui archipelago.

Myanmar approves five foreign businesses

The Myanmar Investment Commission (MIC) has approved five foreign businesses which will include a luxury island hotel, river cruises and a new wood factory.

Governor of Myanmar's Central Bank attends ACU meeting

Central Bank of Myanmar announced that governor Than Nyein and his associates have attended the Asian Clearing Union (ACU) Board of Directors Meeting held in Islamabad, Pakistan on June 18 and 19, 2013.

Myanmar to publicize top 500 tax payers

Myanmar’s Internal Revenue Department is listing the top 500 tax payers in the country for the fiscal year 2012-13, according to the tax officials.

“The list of top 500 tax payers will soon be publicized in the state-owned newspapers,” said an official from the Internal Revenue Department.

MTN sets its sights on Burma

IT SOUNDS almost archaic: a place where mobile penetration is sitting at about 10%.

But this is the prospect that has mobile operators round the world salivating at the chance to enter Burma, which was under military rule until 2010.

New Light of Myanmar (22 June 2013 - Saturday)

The Mirror Daily (22 June 2013 - Saturday)

Myanma Alinn Daily (22 June 2013 - Saturday)

Deloitte moving forward in Myanmar despite NY scandal

Accountancy firm Deloitte was fined $10 million by New York State on Tuesday for its misconduct in advising Standard Chartered Bank over money laundering in Myanmar, Iran, Libya and Sudan.

New Light of Myanmar (21 June 2013 - Friday)

The Mirror Daily (21 June 2013 - Friday)

Myanma Alinn Daily (21 June 2013 - Friday)

Myanmar mystics give supernatural help to Asia elite

YANGON — Tiny, frail and barely able to speak, Myanmar's most famous fortune teller -- known as ET -- has for years whispered predictions to Asia's rich and powerful, from generals to foreign politicians.

Myanmar's Economy To Receive Boost From Japanese And Korean Investment

Japan and Korea are investing billions of dollars in Myanmar in the hopes of building up the country’s infrastructure to better serve foreign businesses that will undoubtedly follow in the footsteps of Coke and Unilever. With such avid foreign sponsorship, Myanmar is poised to welcome an economic boom in the coming years -- by McKinsey & Co.’s estimation, the small country could potentially bring its economy from $45 billion up to more than $300 billion in 2030.

Myanmar Is Getting Wired

On June 27, the government of Myanmar will grant the first two licenses to foreign mobile companies to operate in the country. Digicel, based in the Caribbean, and Singtel, out of Singapore, have both pledged to invest billions to bring wireless coverage to 96% of the country within a few years. (The government has set a goal of 80% coverage by 2015.) They've already begun to scout real estate, hire locals, and in Digicel's case, sponsor the national football league.

Myanmar’s magic number 2015

BANGKOK, 21 June 2013: 2015 will be a milestone for Myanmar when most of the travel glitches will be smoothed out tourism leaders’ have promised.

Myanmar Tourism Promotion Board, executive committee member for tourism training, Phyu Phyu Mar, who represented the Ministry of Hotel and Tourism at the Thailand Travel Mart said plans to reintroduce visa-on-arrival for tourists would be resumed shortly.

Digicel reports 8% rise in revenues to$2.78bn

Ahead of the announcement by the Burmese government next week of the international telecom firms that will be granted licences to set up two new mobile phone networks, Denis O’Brien’s telecoms group Digicel has reported a 8 per cent rise in revenues.

New Light of Myanmar (20 June 2013 - Thursday)

The Mirror Daily (20 June 2013 - Thursday)

Myanma Alinn Daily (20 June 2013 - Thursday)

New Light of Myanmar (19 June 2013 - Wednesday)

The Mirror Daily (19 June 2013 - Wednesday)

Myanma Alinn Daily (19 June 2013 - Wednesday)

New Light of Myanmar (18 June 2013 - Tuesday)

The Mirror Daily (18 June 2013 - Tuesday)

Myanma Alinn Daily (18 June 2013 - Tuesday)

Tuesday, 25 June 2013

Changing Myanmar on the move

On June 5–7, Myanmar hosted the World Economic Forum on East Asia (WEFEA). It was a successful event, attended by more than 900 business and government leaders from around the world.

Myanmar named in Bank of Tokyo’s $250 million laundering conviction

Japan’s Bank of Tokyo-Mitsubishi UFJ (BTMU) has been fined US$250,000 million by the state of New York for illicit laundering transactions with countries under sanctions, including Myanmar.

Aircel offers international roaming services for Myanmar

With this, Aircel becomes to first Indian operator to offer the facility.
Aircel India has announced international roaming service for Myanmar in partnership with Myanmar Posts and Telecommunications (MPT), a sole provider of telecommunication services in the country. This roaming facility is available for postpaid subscribers of all Aircel circles.

TCEB promotes exhibitions

BANGKOK, 20 June 2013: Thailand Convention and Exhibition Bureau aims to source opportunities in Myanmar to establish business channels to strengthen the exhibition industry between the two countries.

The Myanmar hotel boom

REPORT FROM MYANMAR—Global hotel chains are eyeing Myanmar as the next big Asian market for expansion.

Shangri-La Hotels and Resorts has a property there, as does Orient-Express Hotels, and last month a Best Western opened in Yangon, the country’s largest city.

Wednesday, 19 June 2013

Myanmar's clothing industry promises growth

Myanmar's clothing industry is expected to grow as a result of the country's readmission to a preferential EU trading scheme, according to sources from the industry.

The European Union readmitted Myanmar to its trade preference scheme on June 12 which grants developing nations preferential access to the 27-nation bloc for several products in the form of lower tariffs.

Myanmar businesses accuse construction firms of tax evasion

Myanmar businesses have accused some construction firms of evading millions of dollars of income tax despite them being exempted from commercial tax.

The businessmen have argued that the commercial tax, which is collected even from basic food and newspaper companies, should be paid by construction firms who are benefiting from a boom in the industry.

Win Aung to serve another term as chairman of Myanmar's commerce chambers

Win Aung, the current chairman of Myanmar's chambers of commerce and industry, has just been reelected on June 15 for a second four-year term.

The Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) is the largest national-level business organization in Myanmar, acting as a bridge between the State and private sector. It is also a focal point of international trade relations with other countries.

Hin Leong Group to expand business in Myanmar

Singapore based Hin Leong Group is planning to expand its business and start the distribution and selling of fuel products in Myanmar, according to Reuters News Agency.

Hin Leong Group has businesses in oil trading, bunkering, lubricants blending, diesel retailing, logistics support and storage support. The group is planning to expand their business in South East Asia including Myanmar.

Over 140 joint ventures in Myanmar's growing oil and gas sector

The number of joint ventures between local and international energy companies now exceeds 140 say officials from the Ministry of Energy.

According to Myanmar’s most recent foreign investment law, foreign companies are generally required to make joint ventures with local companies in order to invest in the oil and gas sector.

SingTel and partners to create job opportunities

SingTel Consortium, a group consisting of SingTel Telecommunication, KBZ and M-Tel, has promised to offer up to 1000 job opportunities, they said at a press on Saturday.

China's Huawei to work with Myanmar state-owned telecom

The Chinese telecommunications giant Huawei has been chosen to work with the State-owned Myanmar Posts and Telecommunications (MPT) to further expand local mobile networks, according to sources from MPT.

KIA Motors to open new showrooms in Myanmar

South Korea based KIA Motors will open two new showrooms in Mandalay and Nay Pyi Taw, according the director of authorized dealer, Super Seven Star Motors Industry (SSS).

Myanmar: Tales from the last business frontier

Doing businesses in Myanmar -- a country that globalization largely missed -- has its quirks.

Take Coca-Cola. Taking advantage of newly eased sanctions on the former military dictatorship, Coke (KO, Fortune 500) cut the ribbon earlier this month on the first bottling plant the company has had in the country since before World War II. But in rolling out its product, Coke found itself with a dilemma it seldom has: A lot of people didn't know what Coke was.  

Myanmar enters ‘transparency partnership’ with US

On June 14, the same day that the Ministry Energy received letters of intent from energy firms for exploration of 30 offshore blocks, the US Department of State announced that it had formed a partnership with Nay Pyi Taw to achieve greater transparency and good governance in Myanmar’s extractive industries.

A land of smiles for the weary traveler

The minute I arrived at my hotel in Yangon, help was on the way. A smiling doorman handed me a glass of cold orange juice in a welcoming gesture.

His considerate treatment managed to instantly revive a dusty traveler who felt dazed after a 40-minute drive from the airport in a dilapidated taxi on a bumpy road as the temperature soared to almost 40 C.

Myanmar temporarily stops supply of workers to Malaysia

PETALING JAYA: Myanmar has temporarily stopped sending workers to Malaysia due to safety concerns, following violence involving its citizens here.

The Eleven Media in Myanmar reported that the Federation of Overseas Employment Agencies (Myanmar) had last week instructed overseas employment companies not to send any more workers to Malaysia.

Myanmar-Bangladesh-India gas pipeline

INDIAN commerce and Industry Minister Anand Sharma recently led a delegation to Myanmar to revive the Myanmar-India gas pipeline project. According to the Times of India (June 7), he discussed the possibility of setting up the pipeline along a land route, bypassing Bangladesh, to benefit the underdeveloped regions of both northern Myanmar and the north-eastern states of India.

Tuesday, 18 June 2013

Visiting Myanmar, before it's too late

BAGAN, Myanmar - The rising sun streaked a light blanket of fog with pink and yellow. Suddenly, pagodas popped out from the mist, some grand and intricate, others squat and modest, some crumbling, others glinting with gold - a carousel of Buddhist temples amid fields of sesame, tamarind, and scrub.

Myanmar Is Ripe to Be Marketing's New Frontier

A dusty street vendor taps on the taxi window. He's not peddling flowers along the thoroughfare in Myanmar's business capital of Yangon. He's touting homemade copies of the country's foreign-investment law and import-export regulations.

Getting Access to Myanmar, via Singapore

With high-profile investors like Jim Rogers and George Soros showing a keen interest in Myanmar, it may be time for risk seekers to gain exposure.

New Light of Myanmar (17 June 2013 - Monday)

The Mirror Daily (17 June 2013 - Monday)

Myanma Alinn Daily (17 June 2013 - Monday)

New Light of Myanmar (16 June 2013 - Sunday)

The Mirror Daily (16 June 2013 - Sunday)

Myanma Alinn Daily (16 June 2013 - Sunday)

New Light of Myanmar (15 June 2013 - Saturday)

The Mirror Daily (15 June 2013 - Saturday)

Myanma Alinn Daily (15 June 2013 - Saturday)

Monday, 17 June 2013

Thai businesspeople too slow to move into Myanmar, long-timer says

The Myanmar Investment Commission granted licences to 33 companies in the first four months of the year, whose total investment amounted to US$815 million (Bt25 billion). Yes, some of them are from Thailand, but a pioneering Thai businessman believes his countrymen are moving into Myanmar too slowly.

Responsible and Inclusive Business in Myanmar - Report Launch

CSR Asia launched its report “Responsible and Inclusive Business in Myanmar” in Yangon on Monday, 3 June 2013. The event brought together leaders, practitioners and experienced observers of the rapidly changing economic development and investment context of Myanmar.

ASEAN, a 'smart' vision for 4 countries by 2015

Common computerized entry visa approved for Myanmar, Indonesia, Cambodia and the Philippines. The aim is to encourage tourism and foreign investment in south-east Asia. 

Local developer aims to bring mobile apps to Myanmar

Htoo Myint Naung has been selling popular fortune-telling and dictionary apps in his home country

How do you build a blockbuster app in Myanmar, one of Asia's poorest countries? You go and ask a fortune teller for help, according to 25-year-old Htoo Myint Naung, a local developer.

Myanmar Opens to Business Opportunities, but is it sustainable?

If the participation of 900 delegates – the largest to date – from around the world, representing governments, business, civil society and academia at the World Economic Forum on East Asia in Naypyidaw from June 5-7 was any indication, then Myanmar has successfully shown that the international community is ready to do business with it. 

Myanmar to take foreign tenders on project

MYANMAR (Burma) will accept tenders from foreign companies for its ambitious "mega city" project in northern Yangon, an official says. 

"Tenders from both local and foreign companies will be called soon," said an official at the Yangon City Development Committee's city planning and land administration department.

Myanmar braces for mobile phone boom as Internet access trickles in

IDG News Service - In Yangon, Myanmar, giant Samsung billboards hang overhead as dozens of handset shops line the crowded city streets and advertise the latest smartphones. Just a few years ago, you wouldn't have seen such a sight, said Soe Nyi Nyi, a local tech entrepreneur.

Thai private sector should invest in rice business in Myanmar: Kasikorn Research Center

Thailand’s Kasikorn Research Center (KRC) said the Thai private sector should invest in rice businesses in Myanmar after the country has sped up intensive rice production both in terms of quantity and quality.

Rangoon Firm Pushes for Transparency With Burma’s Secretive Public Companies

RANGOON — Thura Swiss, a Rangoon-based economic research and consulting firm, on Thursday released the first equity research report to ever be written about a Burmese company.

Myanmar and Thailand universities participate in Education Fair

Universities from Myanmar and Thailand participated in Dual Education Fair held at Diamond Jubilee Hall, Yangon University on Thursday.

Myanmar’s new central bank law to be approved next month

Myanmar’s parliament will approve new central bank law next month to make it become an independent body to run the economy, according to local bankers.

“The central bank needs reform. [We] will require more foreign experts even when the bank became an independent body. The new law would be better, for sure. But we may face new problems if we don’t have enough local experts,” said Than Lwin, the vice-chairman for Kanbawza Bank.

UK Trade Minister stresses 4 hindrances for investments in Myanmar

The United Kingdom’s Trade and Investment Minister Stephen Green, on his first visit to Myanmar, stressed four key areas Myanmar needs to improve to receive more foreign investments.

Ecotourism zone, hotel zone and religious zone to build in Mon State

Ecotourism zone, heritage zone and hotel zone will be established in the Mottama mountain ranges in Mon State, according to Dr. Min Nwe Soe of the Mon State Minister on June 11.

Coca-Cola to expand Myanmar factory in 2013

Giant soft-drink producer Coca-Cola, which recently re-entered Myanmar, is planning to expand the production lines in its Myanmar factory before the end of this year, said Aung Win, Commercial Director of Pinya Manufacturing Co. Ltd.

Sixteen companies granted to operate the garment industry with CMP system

Sixteen companies have been granted permission to operate garment industries with Cutting, Making and Packing – CMP system during five months of this year, according to the Directorate of Investment and Companies Administration (DICA).

EU reopens trade scheme for Myanmar

The European Union (EU) readmitted Myanmar to its trade preference scheme on Wednesday, saying it wanted to support reform in Myanmar through economic development. The EU scheme grants developing nations preferential access to the 27-nation bloc for several products in the form of lower tariffs.

India mega-transport project lacks transparency - civil society

A multi-million dollar Indian transport project in Western Myanmar was criticised in a recent report by local civil society groups for lacking transparency and not benefiting local communities.

Myanmar-China pipeline to begin operations next month

The Myanmar-China Shwe pipeline project is ready to begin exporting gas to China as of early July according to officials with the Ministry of Energy.

"The export of gas has been delayed by about three months due to delays in the construction of Chinese gas pipeline," said Htay Aung, an official with the Ministry of Energy.

KBZ Bank insurance subsidiary to go public

Myanmar’s leading bank, Kanbawza Group of Companies (KBZ Group) has decided to make its recently launched subsidiary, IKBZ Insurance Company into a public firm within coming three months, according to the managing director of IKBZ Insurance.

Friday, 14 June 2013

New Light of Myanmar (14 June 2013 - Friday)

The Mirror Daily (14 June 2013 - Friday)

Myanma Alinn Daily (14 June 2013 - Friday)

Myanmar gives nod to Indian carriers

INDIAN airlines have been given the green light to commence the first direct flights to Myanmar, effective immediately.

Following a series of bilateral talks at World Economic Forum on East Asia 2013 in Naypyidaw last week, Indian commerce and industry minister, Anand Sharma, said Myanmar had granted India’s airlines the right to run services between the two countries.

More foreign tourists using Visa-on-Arrival facility

Visa on Arrival scheme continues to be popular with foreign tourists with as many as 1,114 foreigners using it in May this year as compared to 812 in the corresponding period last year, registering a growth of 37.2 per cent.

Myanmar, RI reaffirm to $1b in trade

Despite the ongoing communal tensions in Myanmar, both Indonesia and Myanmar have reiterated their bilateral commitment to boost efforts in achieving the target of US$1 billion in trade volume by 2016.

Myanmar gas pipeline complete but cites China delays

NAYPYITAW, Myanmar, June 12 (Reuters) - A pipeline connecting western Myanmar to China is ready to carry gas from July, but it won't be fully operational for about three more months due to construction delays in China, Myanmar's energy minister said.

Thursday, 13 June 2013

Myanmar readmitted to EU trade scheme

The European Union today readmitted Myanmar to its trade preference scheme, saying it wanted to support reform in the once pariah state through economic development.

Myanmar's membership of the scheme was withdrawn in 1997 due to concerns over the use of forced labour under the then-military junta.

New Light of Myanmar (13 June 2013 - Thursday)

The Mirror Daily (13 June 2013 - Thursday)

Myanma Alinn Daily (13 June 2013 - Thursday)

The Myanmar Times (3 - 9 June 2013)

New Light of Myanmar (12 June 2013 - Wednesday)

The Mirror Daily (12 June 2013 - Wednesday)

Myanma Alinn Daily (12 June 2013 - Wednesday)

Singtel to help launch Myanmar-owned satellite system

Singtel will provide technical assistance to launch a Myanmar-owned satellite communication system the group told media at a press conference in Yangon on June 11. 

Myanmar finally takes a seat at its own oil & gas feast

(Reuters) - In a few months, impoverished Myanmar plans to start pumping roughly $45 million worth of oil and gas a day from the Bay of Bengal to China by pipeline. The vital fuel for China's growing economy will bypass the Malacca Straits and U.S. ally Singapore.

Expectations on Myanmar raised to a very high level: Martin Sorrell

NAY PYI TAW, Myanmar: WPP Plc., the world’s largest communication services company, has restarted its Myanmar operations after exiting the South-East Asian country in 2003 because of sanctions imposed on the military junta that was in power then. 

Wednesday, 12 June 2013

Myanmar: Opportunities And Risks

The relaxation of Canada's “special economic measures” that have been applied to Myanmar has been widely publicized. The changes have been complemented with high profile visits to the region by the Prime Minister, the Minister of Foreign Affairs and the Minister of International Trade. With the announcement of a new Canadian embassy to open in Yangon this year, this recently closed-off country is now attracting a great deal of attention. Given Myanmar’s rich diversity of natural resources, strategic geography and attractive demographics, there are many business opportunities across a range of industries and sectors, including in mining, energy, infrastructure and engineering.

Myanmar works to turn the lights on -- and keep them on

Yangon, Myanmar (CNN) -- Lights flicker on and off at any hour of the day, sending visitors' eyes toward the ceiling, while locals carry on without a pause.

Blackouts are common in Myanmar, due to an old and neglected energy network that only reaches a quarter of the country's 60 million people.

Myanmar wants to get $11bn from tourism

Sustainability and social responsibility feature heavily in masterplan which expects to get from $500m to $11bn in 8 years
Myanmar has unveiled its Master Plan, outlining its vision for the expansion of Myanmar's tourism industry from a baseline of US$534 million in 2012 to $10.8 billion by 2020.

Should Thailand worry about Low Wages in Burma ?

Japanese investors are considering a shift from Thailand to Burma where  a large pool of low-cost workers is bound to attract labor-intensive manufacturing industries. Japan’s industrial investors stayed with Thailand through the army coups, the Bangkok-paralyzing massed Red-Shirt protests, and the mismanaged floods of 2011 that swamped so many Japanese-owned factories. But a huge labor force in Burma ready to work for one-sixth of a Thai wage could be a turning point.

Offshore oil and gas blocks for bidding to open

Myanmar will open tender for at least 20 new blocks of oil and gas before next year, the minister of energy told the World Economic Forum on East Asia on Thursday June6.

Currently the ministry has opened tenders for a total of 30 blocks in which 11 are inshore blocks and the rest are offshore ones. The recent tenders will be closed on June 14. The energy sector is the one of the most important sector for nation’s income.

source: Eleven Myanmar

Myanmar to further cut back interest rates

Myanmar's government is currently holding talks to further reduce the country’s interest rates to allow local businesses to compete with international rivals, according to sources from Parliament.

Joint venture to build Yangon mega condo

Plans are underway to build a 27-floor high-rise in Yangon to meet a growing demand for luxury apartments as Myanmar starts to attract more foreign investment and capital.

UK Trade minister to visit Myanmar

United Kingdom’s Trade and Investment Minister Stephen Green will visit Myanmar this month for economic cooperation.

Myanmar's property prices up after Abe's visit

Real estate development projects near Thilawa port in Yangon would be kicked off shortly after the visit of Japanese Prime Minister Shinzo Abe, sources said.

Land price in the industrial zone rose from Ks 200 to 250-300 million per plot.

Marriott hotel chain eyes to invest in Myanmar

US-based Marriott International Inc, the largest publicly traded U.S. hotel chain, is preparing to operate hotel business in Myanmar, according to the Bloomberg Business weekly.

Empty cans and bottles hit record border sales

Chinese merchants are now buying a large amount of empty cans and bottles from Myanmar through Muse checkpoint along Myanmar-China border, according to Myanmar’s Border Trade Department.

After Bangladesh Tragedy, Questions for Burma’s Garment Sector

RANGOON — At last week’s World Economic Forum in Naypyidaw, one message seemed to transcend the rest: Burma is open for business, and labor, the government and foreign companies are all weighing the promise and pitfalls of the nation’s increasingly attractive investment climate.

Businesses Bid for Tourist Exploitation of Historic Mandalay Palace

Mandalay Division’s government said it is privatizing the tourist exploitation of the historic Mandalay Palace complex, the abode of Burma’s last kings, the Konbaung Dynasty.

Tuesday, 11 June 2013

New Light of Myanmar (11 June 2013 - Tuesday)

The Mirror Daily (11 June 2013 - Tuesday)

Myanma Alinn Daily (11 June 2013 - Tuesday)

New Light of Myanmar (10 June 2013 - Monday)

The Mirror Daily (10 June 2013 - Monday)

Myanma Alinn Daily (10 June 2013 - Monday)

New Light of Myanmar (9 June 2013 - Sunday)

The Mirror Daily (9 June 2013 - Sunday)

Myanma Alinn Daily (9 June 2013 - Sunday)

New Light of Myanmar (8 June 2013 - Saturday)

The Mirror Daily (8 June 2013 - Saturday)

Myanma Alinn Daily (8 June 2013 - Saturday)

Advertisers in Burma ‘Can’t Bill It as a Gold Rush’

Much coverage of Burma’s “frontier market” has focused on sectors such as natural resources, telecommunications and manufacturing. Some of the world’s biggest and best-known companies—such as Coca-Cola, Pepsi, Microsoft and Unilever—have in recent months put their money into Burma, or pledged to, after Western sanctions were eased or lifted in response to reforms in the one-time army-ruled country.

Myanmar remains a hit

BANGKOK- Myanmar remains the fastest growing destination in the Greater Mekong area as the country is catching back with years of isolation.  Last year, the country passed for the first time the mark of one million international travellers (it recorded exactly 1.058 million international arrivals). “This year, we are looking for a new record year in total arrivals with probably a growth of 30% to 1.4 million travellers”, indicated Phyu Phyu Mar, Executive Committee Member at the Myanmar Tourism Promotion Board during a media briefing at the TTM.

Myanmar Predicted To Become Major Rice Exporter In 2015

BANGKOK, June 10 (Bernama) -- Myanmar is set to become one of the world's leading rice exporters with 3 million tonnes in 2015, a report has said.

Tourism minister calls for hotel price regulation ahead of SEA games

Burma’s tourism minister has called for hotel prices to be regulated ahead of the 2013 Southeast Asian (SEA) Games in December or risk derailing the country’s nascent tourism industry.

Monday, 10 June 2013

The hard yards begin in Myanmar’s quest for foreign investment

NAYPYITAW, June 10 — In a cramped auditorium in Myanmar’s capital, pro-democracy champion Aung San Suu Kyi had a message for the world’s business elite: her country is teeming with foreign investors scouting for opportunities in one of Asia’s final frontier markets, but not many are actually investing.

Get the basics right, bank boss tells Myanmar

Myanmar will need to get the basics right for its banking system in order for its businesses to make rapid progress, a top executive of a leading Thai bank told global business leaders last week at the World Economic Forum.

Digicel has spent $31m on application for licence in Burma

O’Brien says his company is entering one of most ‘exciting markets’ on planet at present 

Denis O’Brien’s mobile phone group Digicel spent $31 million on its application for a licence in Burma, which it submitted to the Government on Monday. 

Myanmar Central Bank Official Details Planned Reforms

NAYPYITAW, Myanmar--Myanmar's government is set to revolutionize the operation of its central bank, empowering it to adjust monetary conditions independently, stopping it from financing the government's debts, and appointing external experts to participate in the policy-setting process, a senior official said.

Myanmar sets eyes on German investment

Myanmar is undergoing a major transformation. And the country is willing to show the world what years of reform-minded government have accomplished. In a DW interview the nation's president vows to step up reforms. 

The Rush to Tap Myanmar's Energy Promise

Myanmar, also known as Burma, has largely been shunned by the West for most of five decades of military rule that ended last year. Now open for business and shedding sanctions, the cash economy badly needs a working banking system. The population of more than 60 million wants mobile phones, newer cars, and Coca-Colas. Myanmar just hosted a three-day World Economic Forum on East Asia, with executives from multinationals such as General Electric (GE) and Unilever (UN) in attendance. But no one sector is as critical to Myanmar’s growth prospects as energy.

Into Myanmar - AgriTrade, Investments & Technology Global Summit

A Match-Making platform to boost growth & development of Myanmar agriculture & livestock sector

1. Singapore, 06th June 2013 – 2nd Into Myanmar AgriTrade, Investments & Technology Global Summit is scheduled to be held from 19 to 20 June in Yangon, Myanmar and Myanmar's Livestock, Feed & Food Processing Opportunities on 21 June 2013.

Myanmar as Economic Miracle Hinges on Natural Gas Bounty: Energy

Myanmar’s opening to foreign investment has been compared to the fall of the Berlin Wall and the start of an economic growth story to emulate Vietnam. How those views pan out will be largely decided by natural gas. 

In Myanmar, Flirtations by Investors Turn Into Commitments

NAYPYIDAW, Myanmar — Foreign executives who flew into this dirt-poor country over the past year to tap into what is described as Asia’s last major frontier market often came away skeptical, befuddled or outright disappointed. 

Myanmar uses global forums to spotlight tourism goals

Last Wednesday, Myanmar's hotel and tourism minister outlined his country's tourism vision at the World Economic Forum in its capital city Nay Pyi Taw. The next day, his staff were in Bangkok to promote Myanmar's unspoiled attractions, from white-sand beaches to his-|torical religious sites, at "Thailand Travel Mart 2013 Plus" (TTM+2013) held by the Tourism Authority of Thailand.The two efforts seem very meaningful for the newly opened nation. It is clear that the country is moving its tourism industry forward, considered one of the first priorities to drive economic prosperity and eliminate poverty.

Airlines bump up Myanmar flights

BANGKOK, 7 June 2013: Airlines continue to add services between Myanmar and its ASEAN neighbours to capitalise on the country’s economic and tourism boom.

Asia Wings Airways told TTR Weekly on the sidelines of the Thailand Travel Mart at IMPACT Muang Thong Thani, yesterday, it will start its first regional service, 25 June, on the Yangon-Chiang Mai route, a twice weekly flight complementing its sister carrier Air Bagan that also flies the route twice weekly.

Vietnamese businesses eager to invest in Myanmar

Several Vietnamese businesses are seeing investment potential in Myanmar, where domestic production barely meets 20 percent local demand and nearly 80 percent of consumer and industrial products are being imported.

3 PH firms set sights on Myanmar

NAYPYIDAW – Three Philippine companies are eyeing business opportunities in Myanmar, President Aquino announced here before the weekend.

Can Myanmar fix its outdated banking system?

Myanmar (CNN) -- When Nyein Chan Aung sold his house in Yangon recently he faced a dilemma -- what do to with the proceeds. Did he he take his cash to the bank or keep it at home?

Myanmar allows access to Indian airlines

Indian airlines can now operate flights to Myanmar as the country has granted traffic rights to India-based carriers paving the way for air connectivity between the nations. 

India, Myanmar, Thailand trilateral highway may start by FY'16

The proposed trilateral highway covering , Myanmar and Thailand is expected to be operational by 2015-16, Commerce and Industry Minister said today.

Leading a business delegation, Sharma is here to attend the World Economic Forum on