Mega Lifesciences poised to profit from the network it has built up in Myanmar since 1995, a model it has since applied to other underserved emerging markets.
Tuesday, 30 April 2013
Myanmar’s economic prospects and its real potential
Author: U Myint, Chief Economic Adviser to the President of Myanmar
Myanmar’s economic potential has been vastly enhanced by the access
to foreign resources — in the form of new trading opportunities, the
inflow of foreign investment, elevated levels of bilateral and
multilateral assistance — that President U Thein Sein’s commitment to
political, social and economic reform has unleashed.
Yangon to develop housing projects in new townships
New housing projects are underway in the less-populated new townships of Yangon, according to the regional government.
Thilawa port construction to use Japan’s ODA US$205m
A port construction project in Thilawa Special Economic Zone (SEZ) will start next year using US$205 million low-interest, long term loan from Japan’s Official Development Assistance (ODA), according to Myanma Port Authority (MPA).
MAI launches maiden commercial flight to Japan
Myanmar Airways International (MAI) launched its first commercial flight to Japan on Saturday, while flight to South Korea is in the pipeline.
Norway Telecom Company to invest in Myanmar
Norway’s Telenor Group is prepared to invest in Myanmar’s telecommunication sector, Sigve Brekke, Executive Vice-President and Head of Asia operations of the group said in a conference held in April 29.
Aussino Plunges after Singapore Bourse Rejects Deal with Burma-Linked Firm
SINGAPORE — Shares of Aussino Group plunged by more than half after
the Singapore Exchange rejected its application for a S$70 million (US
$57 million) reverse takeover deal with a company linked to a Burma
tycoon who is on the US sanction list.
Former US Diplomat Arrives in Burma to Seek Business Contract
Kurt Campbell, a former top US diplomat who until recently dealt with
Burma, arrived in Naypyidaw on Friday to lobby for a huge contract to
overhaul Rangoon’s international airport, the state-run New Light of
Myanmar reports.
Maverick operator Digicel takes on the big boys in Myanmar
Monday, 29 April 2013
Myanmar Union Election Commission To Amend Electoral Laws, Bylaws
YANGON, April 27 (Bernama) -- The Union Election Commission (UEC) of
Myanmar will amend the electoral laws and bylaws in an effort to ensure
free, fair and transparent general elections in 2015, China's Xinhua
news agency said quoting official media's report on Saturday.
International shipments at Yangon port double in decade
The number of international shipments at Yangon port has doubled within one year, the highest volume in a decade, according to Myanmar Port Authority.
In the fiscal year 2012-13, a total of
2,196 shipments were called at business hub of Yangon. This amount has
doubled up if compared with 951 shipments during 2002-2003, their
reports said.
Nay Pyi Taw hotels to get ready for World Economic Forum
Hotels in the capital city of Nay Pyi Taw are preparing to fulfill accommodations for foreign guests to the World Economic Forum in July this year.
British and Chinese joint venture to build a hotel in Yangon
Myanmar Investment Commission (MIC) approved on Wednesday a new hotel construction project in Mingaladon township which will be funded by UK and Chinese companies, according to a report of the Directorate of Investment and Company Administration.
US to review Myanmar’s GSP
The US is reviewing Myanmar’s Generalized System of Preferences (GSP) benefits as the country's reforms are moving forward .
The least developing countries like
Myanmar and Lao could be designated beneficiary countries for the GSP
program, the office of the United States Trade Representative (USTR)
said on April 16.
Beans earnings fell US$134m despite increased export volume
Myanmar’s beans export earnings fell about US$134 million during the fiscal year ended last month inspite of the fact that more beans were exported, according to the Ministry of Commerce.
Myanmar earned about $1 billion as it
exported 1.48 million tonnes of beans during the previous fiscal year,
the ministry’s report said.
Bank branches to open shopping centers
Some private banks in Myanmar have opened their branches and service centers in shopping centers starting from the second week of April, according to industry sources.
The Central Bank of Myanmar has given
permission for leasing of buildings and opening bank branches at
shopping centers earlier this year.
New Light of Myanmar (29 Apr 2013 - Monday)
Daily Myanmar Newspaper. Visit www.mmbusinessnews.blogspot.com for more about Myanmar Business News. You can also follow us on Twitter "https://twitter.com/mmbusinessnews".
Myanmar-Bangladesh border trade in decline
Traders and merchants in Rakhine State told Mizzima recently
that Myanmar-Bangladesh cross-border trade is in decline. They said that
bilateral trade decreased by almost half in the main trade centers of
Sittwe and Maungdaw over the last year due to a drop in fishery products
and the general instability caused by the Rakhine-Rohingya conflict.
Journeys into Myanmar: A big step for tourism
Yangon day-tour company Journeys Nature and Culture Exploration will
enter a joint venture (JV) next month with global group PEAK
International Travel, a subsidiary of the world’s largest multinational
travel and tourism company, TUI AG.
US considers end to tariffs in Myanmar: Too soon?
YANGON, Myanmar
President Barack Obama's chief trade negotiator, Demetrios Marantis, had a message for Myanmar this week as he met with government officials and toured a downtown Yangon bazaar, just weeks after the government was criticized for its handling of deadly minority clashes in the heart of the country:
Myanmar - letting the dust settle
Armin Schoch, formerly of Diethelm Travel
and now of Impulse Travel, talking recently as guest speaker at the
March meeting of Skål International Chiangmai & North Thailand about
the conditions in Burma today, noted that the country still had a way
to go in terms of infrastructure development, as well as resolving
political conflicts such as the Buddhist - Muslim sectarian violence
that has recently erupted.
After Years Of Dictatorship, Burma May Be Next Asian Tiger To Roar
RANGOON - Down Pyay Road, in the middle of a huge traffic-jam, children walk between old Japanese cars in the stifling heat and humidity.
Like in other cities of emerging Asian countries, the children walk through the busy streets to sell soda cans and jasmine flower bouquets that are supposed to help cool down the inside of cars not equipped with air-conditioning.
Like in other cities of emerging Asian countries, the children walk through the busy streets to sell soda cans and jasmine flower bouquets that are supposed to help cool down the inside of cars not equipped with air-conditioning.
Myanmar could get broad duty free access to the US, as Washington deepens trade, military ties
YANGON, Myanmar — Myanmar could get broad duty-free access to the
U.S. market by year’s end as the United States tries to deepen trade and
military ties with the former military dictatorship.
Friday, 26 April 2013
MAI and Korean Air plans a flight directly to Seoul
Myanmar Airways International and Korean Air (KE) are planning a direct flight to Seoul, South Korea, Aye Maya Thar, Marketing Manager of MAI said.
“The flight is a direct flight to Seoul
with KE carrier. The passengers have to buy tickets from MAI due to the
code sharing system between MAI and KE for the flight,” Aye Maya Thar
added.
More low cost SIM cards on the way
Myanmar authorities are planning to sell more low cost CDMA SIM cards next three consecutive months, according to Myanmar Post and Telecommunications (MPT).
The plan is to sell at least 350,000 SIMs per month at the price of 1500 kyats apiece.
About one million of CDMA SIM cards will be sold in three months according to the program, the chief engineer Htay Win of MPT said on April 23.
About one million of CDMA SIM cards will be sold in three months according to the program, the chief engineer Htay Win of MPT said on April 23.
Yangon’s unused factory lands proposed for low-cost housings
Myanmar businessmen proposed to the Lower House Speaker Thura Shwe Mann to turn unused factory lands at Yangon’s industrial zones into low-cost housing projects in order to meet the city’s housing demands and contain the rising industrial land prices.
Thura Shwe Mann met with local
businessmen last week to discussed the current problems they face as
well as confiscation of idle industrial lands, Dr Soe Tun, chairman of
Myanmar Farmers Association, said.
Myanmar and Indonesian leaders discuss promotion of bilateral ties
Myanmar President Thein Sein and his Indonesian counterpart Susilo Bambang Yudhoyono met in Nay Pyi Taw Tuesday to discuss strengthening bilateral ties and cooperation, according to state news releases.
During the meeting, Thein Sein expressed
his wish to further cement the relations between the two countries
while promoting bilateral cooperation in the areas of tourism,
transport, livestock breeding and fishery, agriculture, energy and
military.
World Finance Magazine honors Best Corporate Governance award to Kanbawza Group
World Finance Magazine honored the Best Corporate Governance award 2013 to Kanbawza Group, according to the announcement of the magazine.
Kanbawza has been chosen along with
AECOM from USA, South Korea-based Samsung, Phillips from Netherland and
GlaxoSmithKline from UK and the award will be honored during June, 2013.
Oil refinery to be constructed in central Myanmar
The Ministry of Energy has
planned to construct an oil refinery in central Myanmar to refine crude
oil from Myanmar-China pipeline, an official said.
The refinery is intended to construct at near Manntanpayarkan refinery in Mandalay region.
Bukit Asam expands business in Myanmar
In a similar move to that of other state-owned enterprises, coal miner
PT Bukit Asam (PTBA) is going north to seek business opportunities in
Myanmar.
PTBA president director Milawarma confirmed the company had sent a letter to the Myanmar government regarding its interest in investing in the country.
PTBA president director Milawarma confirmed the company had sent a letter to the Myanmar government regarding its interest in investing in the country.
Open for business: The rise of the Internet in Burma
Much of the news and debate surrounding Burma these days is on peace
and conflict in the nation, and analysis of politics, corruption and
civil war. However, issues such as technology and the Internet in Burma
seem to fly under the news radar.
Caution is the Watchword as Indonesia Eyes Business in Burma
Two years after political and economic reforms began opening up
Burma, giant regional neighbor Indonesia is only just beginning to wake
up to the investment potential.
Indonesia is the biggest country by far in the Association of Southeast Asian Nations (Asean) and the fourth largest in the world in population terms, but it ranks only 14th in the international league of investors knocking on Burma’s business door.
Indonesia is the biggest country by far in the Association of Southeast Asian Nations (Asean) and the fourth largest in the world in population terms, but it ranks only 14th in the international league of investors knocking on Burma’s business door.
U.S. Moves to Boost Myanmar Trade Ties After EU Lifts Sanctions
The U.S. is moving to boost trade
ties with Myanmar days after the European Union lifted sanctions
as companies seek access to the former military regime
sandwiched between China and India.
Acting U.S. Trade Representative Demetrios Marantis headed to Myanmar yesterday to begin talks on a framework agreement covering trade and investment, he said in a telephone interview from Hanoi, where he met with Vietnamese government officials. Three days ago, the EU cited Myanmar’s “remarkable process of reform” in eliminating all punitive restrictions except for an arms embargo.
The talks in Myanmar reflect “the great interest that we’re hearing from stakeholders back in the United States about that market,” Marantis said yesterday.
Myanmar President Thein Sein’s shift toward democracy since taking power two years ago has bolstered trade ties with Western nations, attracting companies such as Google Inc. (GOOG), General Electric Co. and Norway’s Telenor ASA. Human rights groups have warned that lifting sanctions may lead to abuses as anti-Muslim violence spreads in the country.
Marantis’s visit “will give a strong signal that the U.S. is serious about lifting restrictions,” said Jean-Pierre Verbiest, former Thailand country manager for the Asian Development Bank who works with West Indochina, which advises businesses in Myanmar. “Japan is very much present already, the EU is moving fast, China has been there for a long time. The U.S. is at a competitive disadvantage.”
The U.S. has Trade and Investment Framework Agreements with dozens of countries to outline “principles for dialogue” on trade and investment issues, according to the USTR website. The agency this month also proposed giving Myanmar and neighboring Laos preferential access to the U.S. market under a program to boost trade with poorer countries.
Human Rights Watch accused Myanmar’s government of ethnic cleansing in displacing more than 125,000 Rohingya Muslims. The New York-based group later criticized the EU’s move to lift sanctions on Myanmar.
Violence between Rakhine Buddhists and Muslim Rohingya last year in a western border area killed about 180 people and displaced more than 100,000. Last month, anti-Muslim violence in central Myanmar killed more than 40 people, displaced 20,000 others and left about 1,400 buildings destroyed, including mosques.
The U.S. engagement with Myanmar is in line with Obama’s goal of increasing trade throughout Asia. Before stopping in Myanmar, Marantis visited Vietnam and Indonesia, where he discussed the Trans-Pacific Partnership, a proposed trade accord that would include Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam and the U.S.
Last week the TPP countries paved the way for Japan to join the talks. Other countries that have expressed interest in the agreement include Thailand and the Philippines, Marantis said.
“There are a number of other countries that I think are interested, but it may be more of a long-term horizon,” Marantis said. “They may be more interested in joining once we’ve concluded this first tranche of TPP negotiations.”
To contact Bloomberg News staff for this story: Jason Folkmanis in Ho Chi Minh City at folkmanis@bloomberg.net
To contact the editor responsible for this story: Peter Hirschberg at phirschberg@bloomberg.net
source: Business Week
http://www.businessweek.com/news/2013-04-24/u-dot-s-dot-moves-to-boost-myanmar-trade-ties-after-eu-lifts-sanctions
Acting U.S. Trade Representative Demetrios Marantis headed to Myanmar yesterday to begin talks on a framework agreement covering trade and investment, he said in a telephone interview from Hanoi, where he met with Vietnamese government officials. Three days ago, the EU cited Myanmar’s “remarkable process of reform” in eliminating all punitive restrictions except for an arms embargo.
The talks in Myanmar reflect “the great interest that we’re hearing from stakeholders back in the United States about that market,” Marantis said yesterday.
Myanmar President Thein Sein’s shift toward democracy since taking power two years ago has bolstered trade ties with Western nations, attracting companies such as Google Inc. (GOOG), General Electric Co. and Norway’s Telenor ASA. Human rights groups have warned that lifting sanctions may lead to abuses as anti-Muslim violence spreads in the country.
Marantis’s visit “will give a strong signal that the U.S. is serious about lifting restrictions,” said Jean-Pierre Verbiest, former Thailand country manager for the Asian Development Bank who works with West Indochina, which advises businesses in Myanmar. “Japan is very much present already, the EU is moving fast, China has been there for a long time. The U.S. is at a competitive disadvantage.”
Myanmar Junta
President Barack Obama last year authorized U.S. companies to invest in Myanmar for the first time since 1997, while continuing to block ventures with businesses connected to Myanmar’s former junta. Since then the U.S. has also authorized imports of most goods from Myanmar and allowed U.S. citizens to open accounts at four banks in the country.The U.S. has Trade and Investment Framework Agreements with dozens of countries to outline “principles for dialogue” on trade and investment issues, according to the USTR website. The agency this month also proposed giving Myanmar and neighboring Laos preferential access to the U.S. market under a program to boost trade with poorer countries.
Human Rights Watch accused Myanmar’s government of ethnic cleansing in displacing more than 125,000 Rohingya Muslims. The New York-based group later criticized the EU’s move to lift sanctions on Myanmar.
Gains Imperiled
“The EU’s scrapping of targeted sanctions on Burma is premature and recklessly imperils human rights gains made so far,” Lotte Leicht, EU director at Human Rights Watch, said in an April 22 statement. “EU member states are ditching measures that have motivated the current progress and gambling on the good will of Burma’s government and military to keep their word to keep reforms on track.”Violence between Rakhine Buddhists and Muslim Rohingya last year in a western border area killed about 180 people and displaced more than 100,000. Last month, anti-Muslim violence in central Myanmar killed more than 40 people, displaced 20,000 others and left about 1,400 buildings destroyed, including mosques.
The U.S. engagement with Myanmar is in line with Obama’s goal of increasing trade throughout Asia. Before stopping in Myanmar, Marantis visited Vietnam and Indonesia, where he discussed the Trans-Pacific Partnership, a proposed trade accord that would include Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam and the U.S.
Last week the TPP countries paved the way for Japan to join the talks. Other countries that have expressed interest in the agreement include Thailand and the Philippines, Marantis said.
“There are a number of other countries that I think are interested, but it may be more of a long-term horizon,” Marantis said. “They may be more interested in joining once we’ve concluded this first tranche of TPP negotiations.”
To contact Bloomberg News staff for this story: Jason Folkmanis in Ho Chi Minh City at folkmanis@bloomberg.net
To contact the editor responsible for this story: Peter Hirschberg at phirschberg@bloomberg.net
source: Business Week
http://www.businessweek.com/news/2013-04-24/u-dot-s-dot-moves-to-boost-myanmar-trade-ties-after-eu-lifts-sanctions
In Myanmar, cheap SIM card draw may herald telecoms revolt
Introduced a decade and a half ago under Myanmar's former military rulers, SIM cards sold for as much as USD 7,000 apiece. Today, they still cost more than USD 200. From Thursday, lucky winners of a lottery-style sale may get one for as little as USD 2.
Thursday, 25 April 2013
Myanmar looks to revive abandoned 'Death Railway'
THANBYUZAYAT, Myanmar — An elegant cemetery in strife-torn southeast
Myanmar has long stood as a lonely testament to the fate of thousands of
prisoners of war who died building Japan's "Death Railway".
Myanmar Goes from Strength to Strength
Hanoi, Vietnam -- (SBWIRE) -- 04/24/2013 --
As the political regime further relaxes controls on the former Burma,
tourism is gaining pace. This once secretive and almost unknown country
is opening up as fast as tour operators can send their customers in.
Hotels whilst still obviously behind countries like Thailand and Vietnam
are going up all over the country, as Myanmar gets used to the new phenomenon of foreign tourism.
A ‘Crony’ with a Conscience
Zaw Zaw, the chairman of the Myanmar Football Federation
and founder of Max Myanmar Group, may be the most socially conscious of
those among Burma’s business elite who are regarded as cronies.
Tour Myanmar now, before the crowds arrive
Myanmar’s citizens hope their next half-century will be
much better than their last. Now an emerging democracy, Myanmar
(formerly known as Burma) is drawing growing numbers of visitors, many
of whom refused to come during decades when a suffocating military
dictatorship ruled.
Myanmar, Indonesia boost ties, trade
Myanmar President Thein Sein hosted Indonesian President Susilo Bambang
Yudhoyono at the Credentials Hall of the Presidential Palace on Tuesday
evening following a day when the two countries signed Memoranda of
Understanding (MoUs) and discussed bilateral trade.
Wednesday, 24 April 2013
EU lifts Myanmar sanctions in ‘new chapter’ in ties
The European Union agreed Monday to lift the last of its trade, economic
and individual sanctions against Myanmar as it embarks on "a new
chapter" with the once pariah state.
"The EU is willing to open a new chapter in its relations with Myanmar/Burma, building a lasting partnership," said an EU foreign ministers' statement approved without a vote.
"The EU is willing to open a new chapter in its relations with Myanmar/Burma, building a lasting partnership," said an EU foreign ministers' statement approved without a vote.
Tourism, Development Threaten Burmese Lake
INLE LAKE, BURMA — As Asia’s newest tourist
hotspot, Burma is experiencing a surge in foreigners eager to visit
places that were closed-off for decades. But the spike in tourists and
growth of new industries are taking an environmental toll. Rapid
development is straining an already damaged ecosystem in Burma’s scenic
Inle Lake.
Hotel zones hold promise but acquiring land difficult
Hotel zones in Myanmar’s tourism destinations
are being built to increase the supply of rooms and, at the same time,
solve the problem of expensive land for investors.
However, the challenge is obtaining agreement from local villagers
who have to move out, and ensuring they receive appropriate prices for
their land.
No time to lose
Myanmar is starting to experience a tourism boom and is rushing to complete a master plan to guide sustainable development over the next decade.
Myanmar’s tourism industry has no time to lose
in its quest to ensure sustainability at a time when foreign travellers
are flocking to the country in unprecedented numbers.
Monday, 22 April 2013
World’s famous mobile operator groups invest Myanmar’s local communication services
The world’s famous mobile operators are included in the list of 22 companies importing the second-phase Pre-qualification Application to invest in Myanmar’s local communication services, according to the report.
Malaysian Bank Negara to assist banking system
The Central Bank of Myanmar has signed a Memorandum of Understanding with Malaysian Bank Negara for the development in banking services in Myanmar according to the statement of the Central Bank of Myanmar.
Myanmar to sell cheaper SIM Cards like a lucky draw
Myanmar will put on the market much-awaited 1500K (about US$2) SIM Cards through administrator's offices in townships across the country so the public can make drawing, according to sources.
Yangon Region Government has ordered the
offices to do so and they will sell their monthly share of cards using
the drawing system.
Myanmar's gold price unsteady due to gold rush
Myanmar's gold price is still unstable as local buyers rush to purchase the items following a recent plunge in price.
After the Water Festival, the market
opened on Thursday with K668,500 (US$760) per tical but the price later
rose to K691,000 (US$780) per tical in the evening due to gold hoarders.
Gold price plunges but dollar soars in Myanmar after its New Year
As commercial activities resumed yesterday in Myanmar after 4-day of celebrating traditional New Year Water Festival, gold price has fallen US$56 per tical ($97 per ounce) but US dollar exchange rate against Myanmar currency ‘kyat’ (K) rose from K884 to K897.
Goods flow in Myawady border checkpoint show a good sign for business
Myawady border checkpoint, one of major crossing points between Thailand and Myanmar, has collected 8673 million kyats from the start of this fiscal year until the end of February 2013, according to official record.
It was the highest amount earned in 16 years time after the trade zone is opened in 1997, according to the sources.
ITCs to be issued on all border checkpoints on April 22
All border checkpoints will be issued individual trading cards (ITCs) starting April 22 for the small traders conduct their trade accodingly and legally.
The border trade department has issued
only in Tamu, Muse, Myawaddy and Tarchileik border checkpoints before
April 22 and the small traders issued ITCs worth of about 600 million
kyats.
Myanmar imports 153,000 vehicles in 1.5 years
Since Myanmar government allowed vehicle import from foreign countries in October 2011 after lifting decades-old ban, , more than 153,000 units have been imported, according to Custom Department statistic.
Myanmar Consumer Summit Pinpoints Local Consumer Dynamics
Myanmar Consumer Summit (MCS) will be hosted by CMT on the 9-10 May 2013 in Yangon, to provide investors with insights on Myanmar’s consumer market and ensuing opportunities in a country shaping up amidst expanding middle-income consumerism.
Fuji Xerox Company opens branch office in Myanmar
Japan-based Fuji Xerox Company, a renowned manufacturer of office-related machines, including printers and copiers, opened its branch office in Myanmar with a plan to expand its operation to other parts of the country, according to the report from the company.
Foreign companies lining up to operate in Hpa-an industrial zone
Management at the Hpa-an industrial zone expressed optimism that the park will live up to the expectation as more and more local and international companies are lining up to rent the property at the industrial park.
US and EU to invest in Thilawa
European Union countries are poised to invest in Thilawa Special Economic zone in Myanmar along side with companies from Japan, Hong Kong, and Singapore and the US, according to a recent meeting held at the township administrative office.
Looking for Investment opportunities in Myanmar CM Ibobi to be part of Indian delegation
Imphal, April 20 2013 :
Continuing India's search for investment opportunities, a team of Indian
delegates would be visiting Myanmar from May 26.Chief Minister of
Manipur O Ibobi Singh is likely to be one of the main and important
delegates in the team.
Myanmar anticipates total lift of EU sanctions
Foreign ministers of the European Union (EU) are due to meet in
Luxembourg on Monday to make a decision to withdraw all sanctions
against Myanmar, exactly a year after the regional grouping announced
suspension of most sanctions against the country for a year except arms
embargo.
Ayala group looks to Burma for expansion
Conglomerate Ayala Corp. is studying investment opportunities in
Burma (Myanmar)—considered to be Southeast Asia’s last
frontier—particularly in the fields of telecommunications
, real estate and banking, as part of its regional expansion thrust.
, real estate and banking, as part of its regional expansion thrust. Oil pipeline in Myanmar mutually beneficial: China
Beijing, April 20 — China has said that an oil pipeline project in Myanmar will serve the mutual interest of both the countries.
The Chinese foreign ministry Friday also said the oil pipeline
project in Myanmar could boost the local economy in that country, Xinhua
reported.
Woodside targets Burma
Woodside Petroleum is confident of meeting its full-year targets as
it posts a sharp jump in quarterly production and starts exploration
work in Burma.
The Australian company's flagship Pluto project drove a 55 per cent
increase in first-quarter production volumes to 21.9 million barrels of
oil equivalent (MMboe) compared with the same period last year.
Thursday, 18 April 2013
Suu Kyi Says Laws, Infrastructure Stalling Investment in Myanmar
Myanmar opposition leader Aung San Suu Kyi said foreign investment in the newly democratizing
nation is being held up by inadequate infrastructure and
uncertainty over investment laws.
Sheffield Chamber joins Burma business drive
Sheffield Chamber of Commerce has joined an international partnership to provide enterprise support for businesses in Burma.
The European Union funded Switch Asia business
support programme is believed to be one of the first global economic
partnerships with Burma for many years.
Bashneft Eyes Myanmar
Bashneft and Nobel Oil notified Myanmar's authorities of their
intention to take part in a tender to develop the country's oil and gas
deposits, Kommersant reported Tuesday, citing Myanmar's Energy Ministry.
Suu Kyi 'calls for Japanese investment in Myanmar'
TOKYO — Myanmar opposition leader Aung San Suu Kyi on Tuesday called
for Japanese investment and economic aid that would create jobs in the
Southeast Asian economy, news reports said.
Wednesday, 17 April 2013
Japan agrees to rice deal with Myanmar
Japan is helping Myanmar (also known as Burma) to regain its status as
a top rice exporter by making its first purchase of the grain from
the Southeast Asian country in more than four decades and investing in
rice processing plants there.
Telkom loses out in Myanmar tender
State-owned telecommunication company PT Telekomunikasi
Indonesia (Telkom) will continue to expand in Myanmar despite failing to win
the tender for mobile phone services in the ASEAN country.
Monday, 15 April 2013
Sunday, 14 April 2013
A new hotel to be built in Sedona Hotel compound
Straits Greenfield Ltd. is
planned to make investment to construct a new hotel in the compound of
Sedona Hotel, according to the announcement of Directorate of Investment
and Company Administration under the Ministry of National Planning and
Economic Development.
Suu Kyi visit highlights Japan's Myanmar push
TOKYO: Japan's long-deferred aspirations for a larger role in Myanmar are getting a boost this coming week with a visit by Nobel Peace Prize laureate and opposition leader Aung San Suu Kyi.
The visit by Suu Kyi, in Japan for the first time in 27 years, is highlighting Japan's interest in helping to craft a blueprint for Myanmar's economy and tapping its growth potential.
The visit by Suu Kyi, in Japan for the first time in 27 years, is highlighting Japan's interest in helping to craft a blueprint for Myanmar's economy and tapping its growth potential.
Myanmar invites bids for 30 offshore oil, gas blocks
Myanmar said it would open bidding in June for the exploration and
development of 11 shallow and 19 deep-sea oil and gas blocks, in only
the second bidding round since the easing of US sanctions against the
gas-rich country. "Interested parties are to submit their letters of
interest to the Director General at the Naypyitaw-based Ministry of
Energy by June 14," the ministry said in an announcement on its website
and in official newspapers on Thursday.
Saturday, 13 April 2013
Suu Kyi visit highlights Japan’s push to raise profile, tap business opportunities in Myanmar
TOKYO — Japan’s long-deferred aspirations for a larger role in
Myanmar are getting a boost this coming week with a visit by Nobel Peace
Prize laureate and opposition leader Aung San Suu Kyi.
The visit by Suu Kyi, in Japan for the first time in 27 years, is highlighting Japan’s interest in helping to craft a blueprint for Myanmar’s economy and tapping its growth potential.
The visit by Suu Kyi, in Japan for the first time in 27 years, is highlighting Japan’s interest in helping to craft a blueprint for Myanmar’s economy and tapping its growth potential.
MTN on short list for Myanmar mobile licence
MTN Group said on Thursdayit had been short-listed to compete for a telecommunications licence in Myanmar.
It was one of the 12 operators that have been short-listed to submit bids for two nationwide telecommunications licences.
It was one of the 12 operators that have been short-listed to submit bids for two nationwide telecommunications licences.
Digicel in final tender group for Burma mobile operators licence
Denis O’Brien’s Digicel has been confirmed as one of
12 telecoms companies pre-cleared to vie for two mobile phone operators
licences in Burma.
The country currently wallows at the bottom of the global list of mobile penetration at less than 10 per cent of the market.
Friday, 12 April 2013
MPs Call for Reform of Burmese Tax Laws
Burma’s opposition leader Aung San Suu Kyi and head of the lower house
of parliament Shwe Mann have called for tax reforms following public
anger over lax regulations that have allowed more than half of the
nation’s potential taxpayers, especially the wealthy, to go scot-free.
SingTel consortium among 12 shortlisted for Myanmar licenses
Summary: The pre-qualified applicants which also include
Bharti Airtel, Axiata, KDDI, M1, Vodafone and China Mobile, enter the
final stage to submit their bids for one of two mobile telco licenses to
be awarded by June 27, 2013.
Myanmar to draft strategic plan for exports, taking UN support
With the help from the United Nations, Myanmar’s Ministry of Commerce will draft its first ever a 5-year strategic plan aimed at boosting export, Tint Thwin, Deputy Director of the Directorate of Trade, said.
Myanmar working hard to catch up on mobile phone usage: analysts
Telecommunication sector is rushing to meet the growing demand from the mobile phone usage by putting up more mobile phone towers to relay the calls through out the country, industry sources said.
Auction winners studied Mandalay International airport for upgrading
Seven companies that have won the bid for a contract of the the Mandalay International Airport's expansion made an onsite visit to make a last inspection before the official announcement as to which company will be awarded with the contract.
ITC introduced Lweje border trade center
Traders are now able to start using Individual Trading Card in Lweje border trade center, according to the Ministry of Commerce.
ITC cards have been used in Tamu, Muse,
Myawaddy and Tachileik border trade centers. The ministry will allow ITC
at other border trade centers later on.
Dawei deep seaport project in jeopardy
A major infrastructure project involving the development of the Dawei deep seaport and special economic zone may be in jeopardy, said an informed source, citing the lack of financial transaction going into the constructions of the project.
Airtel’s bid for Myanmar telecom licence gets green signal
Myanmar authorities have cleared Bharti Airtel’s application for acquiring a telecom licence in that country.
The selection committee has invited Airtel and 11 other international
operators to participate in the third and final stage of the licence
award process.
Thursday, 11 April 2013
Illegal orchid trade valued at $30 million a year
The illegal export of rare orchids to China is worth about US$30 million a year, according to an executive member of the Myanmar Horticulturalists Association.
Yangon to get two more flyovers to reduce traffic jams
Construction will begin on two more flyovers in Yangon at the end of this year, an official from the Yangon City Development Committee said.
DICA sees surge in company registration under civilian government
The Directorate of Company Administration says more than 5,200 domestic and foreign companies have registered with it since the new government took office in January 2011.
Amid Mass Tax Evasion, Burmese Public Demands Reform
RANGOON—Hundreds of businesspeople in Burma’s biggest city have called
on lawmakers to reform the country’s tax system, criticizing poor
enforcement and a lack of accountability that has allowed more than half
of taxpayers, including many wealthy cronies, to avoid paying their
dues.
Ernst & Young Opens New Member Firm In Myanmar
KUALA LUMPUR, April 10 (Bernama) -- Leading professional services
organisation Ernst & Young has opened a new member firm in Myanmar.
In a statement, it said the new firm, Ernst & Young (Myanmar) Ltd, extends Ernst & Young's footprint to 22 countries in Asia-Pacific and 151 worldwide.
In a statement, it said the new firm, Ernst & Young (Myanmar) Ltd, extends Ernst & Young's footprint to 22 countries in Asia-Pacific and 151 worldwide.
Nok Air plans second Myanmar service
Nok Air is adding Mawlamyine to its planned service footprint in
Myanmar, now set as the first country for the budget airline's
resumption of international services.
Wednesday, 10 April 2013
Eleven Media expands print capacity for new daily
Eleven Media Group is expanding its printing capacity to produce its Daily Eleven newspaper by installing a second Web offset printer.
Thai company plans fiber-optic connection to Dawei
Thai-owned CAT Telecom Public is seeking approval to install an underwater fiber-optic cable between Dawei Deep Sea Port and southern Thailand, it said.
One-stop shop for foreign investors to open in Yangon
Investors, both foreign and domestic, will be able to use a one-stop service center in Yangon as of Wednesday, according to the Directorate of Investment and Company Administration.
Bosch stresses security systems as it opens first retail outlet in Myanmar
German engineering and electronics giant Bosch has opened its first retail branch in Myanmar, offering high-tech electronics devices and systems with a focus on security at the outlet in Yangon.
Japan prepares for major role in Myanmar’s rice industry
A 5,000-tonne shipment of rice to Japan from
Myanmar for the first time in 45 years caught international headlines
last week, with media lauding another milestone in Myanmar’s political
reforms.
Monday, 8 April 2013
Myanmar 'welcomes Chinese enterprises and projects'
Myanmar President U Thein Sein said on Saturday his country is eager for Chinese investment, especially when it can create jobs.
In an exclusive interview with China Daily, the president dismissed
reports that Chinese enterprises are less welcome in the quickly
developing nation.
Tata Motors to open showrooms and service centers in Myanmar
India’s Tata Motors will officially open car showroom and three service centers in Yangon in the near future, an official of Apex Greatest Industrial Co., Ltd said.
The Apex Greatest Industrial Co., Ltd has got permission as a sale representative of Tata Motors since May last year and the company officially launched its car showrooms and service centers this year.
Sunday, 7 April 2013
Vodafone to bid for Myanmar license
London - Vodafone and China Mobile, the two biggest wireless companies, will join forces to bid for mobile licenses in Myanmar as investors and operators jostle to be among the first into the Southeast Asian country.
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