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.
Saturday, 29 June 2013
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.
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.
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
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.
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.
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.
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.
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).
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
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.
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.
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.
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.
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.
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.
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
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.
Myanmar's membership of the scheme was withdrawn in 1997 due to concerns over the use of forced labour under the then-military junta.
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
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.
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
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 India, Myanmar and Thailand is expected to be operational by 2015-16, Commerce and Industry Minister Anand Sharma said today.
Leading a business delegation, Sharma is here to attend the World Economic Forum on East Asia 2013.
Leading a business delegation, Sharma is here to attend the World Economic Forum on East Asia 2013.
Burmese Tycoon Gives Back After Land Grabs
CHAUNG THA, Irrawaddy Division—More than 50 acres of paddy fields
confiscated by the Max Myanmar Group for shrimp farming will be given
back to farmers in southwest Burma, according to a director of the
conglomerate.
Mindsets May Hinder Progress in Myanmar
The opening of Myanmar holds much promise for the country's people. Its political change has also excited Western liberals and foreign investors alike, as demonstrated by this week's World Economic Forum meeting
in the country's capital, Naypyidaw. With political liberalization
comes new economic openness. It's said among jetsetters these days that
if you don't have a Myanmar stamp in your passport, you're nobody.
Myanmar needs investors with staying power, experts say
Myanmar’s investment suitors should be prepared to commit long term
to the rapidly-opening nation, experts said, as foreign firms weigh the
risks of doing business in the former pariah state.
Reforms in the impoverished Southeast Asian country have stirred intense interest from international business, but observers say the country must repel those chasing a quick buck if it is to avoid falling victim to its own hype.
Reforms in the impoverished Southeast Asian country have stirred intense interest from international business, but observers say the country must repel those chasing a quick buck if it is to avoid falling victim to its own hype.
Unilever re-entering Myanmar with new factory and HQ in Yangon
Unilever has announced its re-entry into the Myanmar market with the
launch of full business operations including a new manufacturing
facility and headquarters in Yangon.
The company said it will implement a sustainable growth business
model based on its Sustainable Living Plan, and will work with Myanmar’s
government, key stakeholders and civil society.
Thailand May Help Myanmar Improve Data Transmission
Thailand is mulling providing Myanmar with cables that enable
international transmission of data as an alternative to its current sole
route via China, Thailand’s Minister of Information and Communication
Technology said.
Myanmar, VN, Laos vow cooperation
NAY PYI TAW - Leaders of Myanmar, Vietnam and Laos on Thursday
emphasised cooperation and inclusive growth in their relationship.
Friday, 7 June 2013
Microsoft Establishes Presence in Myanmar
NAYPYITAW, Myanmar--Technology giant Microsoft Corporation ( MSFT ) Thursday established a presence in Myanmar for the
first time, forming an exclusive partnership with local firm Myanmar Information Technology as the central supplier for
all of its products in the emerging market.
Unilever to Make Flavors in Myanmar Amid $656 Million Investment
Unilever (ULVR), the world’s second biggest
consumer goods company, is starting to manufacture food
seasoning in Myanmar as it prepares to spend 500 million euros
($656 million) in the country over the next decade.
Visa to MasterCard See Mobiles Helping Myanmar Go Cashless (1)
Visa Inc. (V) and MasterCard Inc. said
payments using mobile phones will help Myanmar reduce the use of
cash when wireless networks are rolled out across Southeast
Asia’s poorest country starting this year.
AirAsia eyes Myanmar skies
NYA PYI TAW - AirAsia, the region's biggest
budget airline, plans to carry as much as 30% of tourists visiting
Myanmar as the Southeast Asian economy opens up for foreign investment
and leisure travel.
Japan’s economic advance into Myanmar part of wider regional strategy
Japanese Prime Minister Shinzo Abe visited Myanmar in late May. As the
first Japanese leader to visit the country in 36 years, Abe met Myanmar
President U Thein Sein and opposition political figure Aung San Suu Kyi,
expressing Japan's support to Myanmar in aiding in the country's
democratic transition, economic reform and ethnic reconciliation.
Indian firms, government eye Myanmar for investment, strategic inroads
NAY PYI TAW: Indian
companies are joining global firms as they rush to draw up investment
plans in Myanmar, while the government is eyeing several opportunities
ranging from special economic zones (SEZs) to banking ventures in the
emerging investment hot-spot in the region.
Post-military, reformist Myanmar welcomes movers and shakers to prestigious economic forum
NAYPYITAW, Myanmar - Myanmar prepared Wednesday to show off what two
years of reform-minded elected government has accomplished as it
welcomed business titans and decision-makers from around the world to
the Asian edition of the prestigious World Economic Forum.
Is Burma's opening up irreversible?
Here in Burma, at the largest World Economic
Forum meeting outside of Davos, the overwhelming consensus is that the
country will not turn back. Economically, it can't afford to.
Ethnic Violence Isn't Stopping Legendary Investors From Betting On Myanmar
One of the biggest emerging market stories in 2012 was Myanmar. Sanctions were rolled back and outsiders finally had the opportunity to invest in the resource-rich nation.
Jefferies' Sean Darby wrote that Myanmar will be the next major global trading hub.
ICTP: Put green on the same page as growth for Myanmar bold new tourism leap
The International Coalition of Tourism Partners (ICTP) supports
Myanmar’s bold new tourism leap and calls for green growth leadership.
ICTP is a fast growing Hawaii, Brussels and Seychelles-based global
alliance of more than 100 tourism destinations, associations and private
stakeholders as members.
Myanmar, Cambodia, Indonesia and Philippines agree to work on ASEAN common visa
NAY PYI TAW, Myanmar – Ministers and tourism authorities of
Myanmar, Cambodia, Indonesia and the Secretary of Tourism of the
Philippines have expressed their intention to collaborate with relevant
government agencies and other stakeholders to facilitate travel in the
region by developing a common smart visa system, and have signed the
“Statement of Intent on SMART Visa” today at the 22nd World Economic
Forum on East Asia. The meeting is taking place in Nay Pyi Taw from 5 to
7 June.
HAGL pours $440 million into Myanmar
Vietnam’s Hoang Anh Gia Lai Group on Wednesday started to build its
hallmark project worth US$440 million in Myanmar which is a big complex
of hotel, office for rent and luxury condominium facilities in a prime
location in downtown Yangon.
Thursday, 6 June 2013
Myanmar joins move for common Asean visa
Ministers and tourism authorities of Myanmar, Cambodia, Indonesia and the Secretary of Tourism of the Philippines have expressed their intention to collaborate with relevant government agencies and other stakeholders to facilitate travel in the region by developing a common smart visa system.
Myanmar launches branding campaign
Myanmar on Wednesday inaugurates the first global nation-branding campaign to promote its tourism industry.
The inauguration takes place on the
sideline of the World Economic Forum on East Asia 2013, taking place in
the capital city of Nay Pyi Taw.
Myanmar-China gas pipeline ready for trials
China National Petroleum Corporation (CNPC) announced on Friday that the Myanmar-China gas pipeline is ready for trials after three years of construction while the crude oil pipeline is now 80 percent complete.
Yangon-Dala bridge still under discussion
Discussions are still underway between Myanmar authorities and the Korean firm set to construct a bridge over the Yangon River connecting downtown Yangon and suburban Dala Township, according to Regional Authorities.
Myanmar cigarettes hit record border sales
Cigarette sales on the Myanmar-India border have skyrocketed due to cheap prices and a growing demand from India. Cigarettes sales to Indian merchants hit 600 million kyats (US$645,000) within the first two months of the fiscal year 2013-14.
Myanmar hosts World Economic Forum
Hundreds of global leaders and business delegates gather in the capital Nay Pyi Taw today as Myanmar hosts the 22nd World Economic Forum for East Asia from the 5th to the 7th of June.
Myanmar’s first data center to come within a year: officials
Myanmar’s MICTDC is planning to set up a data center, the first of its kind in the country, from a joint venture with Japan’s Hitachi Company, the officials say.
The MICTDC, or Myanmar Information and Communication Technology Development Company, is a local company that has been working in the country’s IT sector since 2001.
Fruit exports reach $23m in two months
Myanmar’s fruit exports hit US$23 million within the first two months of the fiscal year of 2013-14, according to the Ministry of Commerce. Myanmar has exported over 100,000 tonnes of mangoes, melons, dried plums, and other fruits during the period.
Myanmar’s stock exchange coming on its way: officials
Myanmar is now on its way to establish a stock exchange which is scheduled to be completed by 2015, the country’s central bank chairman said on May 31 at a signing ceremony for a MoU between the bank and Daiwa Institute of Research (DIR).
Inle Lake to be auctioned for fishing businesses
The Inle Lake sanctuary, one of the ASEAN region heritages and one of Myanmar's top tourist destinations, will be auctioned for fishing businesses in 2013-2014 despite environmental concerns.
Myanmar outlines $500 million tourism plan
The Myanmar government has joined forces with Norway and the Asian
Development Bank (ADB) to draw up a tourism-development plan valued at
nearly $500 million.
The government of Norway is funding the plan, which includes 38 infrastructure, cultural and environmental sustainability projects, the ADB reported.
The government of Norway is funding the plan, which includes 38 infrastructure, cultural and environmental sustainability projects, the ADB reported.
Myanmar capital abuzz with international meet
More than 900 delegates arrived at the capital of Myanmar yesterday, getting ready for the first international meeting the country has hosted in 60 years.
Tourism and Asean integration
were the first two topics presented at the World Economic Forum on East
Asia 2013, designed to open the country to the global community and
address the challenges that block further regional integration.
Thai tourists top Myanmar chart
YANGON, 5 June 2013: Thai tourists topped the list of visitors to
Myanmar, January to April, this year, according to official figures from
Myanmar’s Ministry of Hotels and Tourism.
According to local media reports, the tourism ministry announced the
country welcomed 253,136 foreign tourists during the first four months
of the year, up 43.88% from 175,930 visits during the same period last
year.
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