The Irrawaddy | Archive | Business | 2
Rangoon Govt Invites Private Investment in Public Bus Company

The Rangoon Division government launches a US$25 million public bus company for major bus lines and says it already attracted $8 million in private funding.

Yoma Reveals Finger Lickin’ Good Location for Rangoon’s Premier KFC

The wait is almost over for fast food fanatics in Burma’s commercial and culinary capital as KFC settles on its first location.

Digicel’s Burma Deal Adds to Islamic Finance Landscape

Cellular operator Digicel Group Ltd obtains $60 million in sharia-compliant financing for its Burma venture.

Resort Development Underway at Taungthaman Lake

A Mandalay-based developer has commenced work on a large resort next to the lake, home of the famed U Pein Bridge.

Burma Awards Statoil, Conoco Phillips Deep-Sea Exploration Contract: State Media

Burma has awarded contracts to international oil majors Statoil and ConocoPhillips for oil and gas exploration in a deep-water offshore block, state media reports.

The Irrawaddy Business Roundup (May 2, 2015)

Investors advised to “go big”; Singapore gas-fired plant approved; budget boosts power spending; European firms bring beauty products; regional products could get special status.

Burma’s Formerly Blacklisted Businessman Urges US to Delist Others

The first Burmese businessman removed from a US blacklist says Washington should delist more people to partner with American companies for Burma’s economic development.

Employers, Workers Far Apart in Minimum Wage Negotiations

Discussions between government, workers’ representatives and factory owners reveal wide differences of opinion about Burma’s future minimum wage, which will be set soon.

The Irrawaddy Business Roundup (April 25, 2015)

Tin exports lower prices; Star City’s next phase underway; Magwe solar plant gets partner; three foreign banks open offices; and World Bank envisions continued growth.

‘Crony’ Win Aung Removed From US Blacklist: Who’s Next?

Burma’s business community predicts that the delisting could signal a tide of redemption for a long list of so-called cronies ostracized by the Western superpower.

Govt Targets Economic Growth of 9.3% This Year

Burma is targeting economic growth of 9.3 percent in this fiscal year, driven by an unprecedented amount of foreign investment.

Volvo Prepares to Send ‘Made in China’ Cars to US

On the verge of exporting the first “Made in China” cars to the United States, Volvo is determined to show they are as good as vehicles it produces in Europe.

Google Lavishes Chairman with $109 Million Pay Package

Google paid its billionaire Executive Chairman Eric Schmidt nearly $109 million last year while the company’s stock slumped.

Firms to Sign First Phase of Dawei SEZ Development in June

ITD and Rojana Industrial Park will sign a $1.7-billion deal to develop the first phase of the Dawei industrial zone in southeastern Burma by June.

Germany Receives US Blacklisted MP for Financial Tour

A US blacklisted lawmaker leads a delegation of Burmese bankers to Germany this week for a study of financial institutions.

The Irrawaddy Business Roundup (Apr. 11, 2015)

HAGL seeks new investor for Inya high-rise, Suzuki to assemble cars in Thilawa SEZ, and Mon State power plant gets the go-ahead.

Foreign Investment Soars to Record $8B in 2014-15

Foreign direct investment in Burma grows sharply in 2014-2015, reaching US$8 billion, a more than doubling of investments compared to the year before.

Foreign Banks Opening Branches in Burma for First Time in Decades

Two Japanese and one Singaporean bank will become the first foreign banks to operate in Burma for decades when they open branches on April 23.

Burma’s Rice Exports Up 40% in 2014-15

Burma’s rice exports rise over 40 percent in the 2014-15 fiscal year, with shipments to China dominating despite Beijing’s official ban on Burmese rice imports.

The Irrawaddy Business Roundup (Apr. 4, 2015)

Warnings EU investment deal could keep garment wages low, Toshiba invests in hydropower, and Mitsubishi begins joint venture with local coffee maker.