The Central Bank of Myanmar grants nine foreign banks permission to operate in Burma, with Japanese lenders winning a full third of the license bids.
Three companies will be awarded tenders to implement port, industrial and residential projects in the special economic zone of western Burma.
Dams under scrutiny; Myawaddy border trade soars; neighboring garment sectors taken to task; visa on arrival scheme muddled; and the president takes on hunger.
Norway’s Telenor said it would launch telecommunications services on Saturday, becoming the second foreign telecoms company to start operating in Burma.
Burma’s rapid economic transformation, after transitioning from military control and opening itself to the world, is not without its rough patches, the nation’s top economic minister says.
Burma will announce an offer by the end this month for between five and 10 foreign banks to open branches in its rapidly expanding economy.
A high-profile business forum on Burma is set to kick-off in New York, with executives and government officials to discuss investment in ‘Asia’s last frontier.’
The price of compressed natural gas in Burma will double, but likely not until sometime next year, a Myanma Oil and Gas Enterprise official says.
U.S. investment in Burma remains modest, but Thai Gas Explorer PTTEP will invest $3.3 billion, while Burma’s ‘shrunken’ population will deter international consumer business investment.
Kyaukphyu port on Burma’s western coast could play a key role in a Beijing-led economic corridor plan linking neighbors India, Bangladesh and China.
Burma revises its fiscal year FDI forecast to more than $5 billion, surpassing earlier expectations and led by new ventures in energy and telecoms.
Five airports get the green light for privatization, Kyaukphyu SEZ development to go out to tender, and the legacy of sanctions hinders US investment.
The Taiwan Electrical and Electronic Manufacturers’ Association is reportedly planning a large investment to build an industrial park in the Irrawaddy Delta.
A regional bank says Burma’s economy could grow at 9.5 percent a year until 2030, but that US$80 billion of investment is needed.
The new e-visa for tourists remains “cumbersome,” an anti-money laundering watchdog is formed and natural gas imports are sought to meet a shortfall.
Two activist groups say a factory making the upcoming iPhone 6 is violating overtime rules, withholding wages and failing to meet safety standards.
Companies based in the neighboring country are planning to build coal-fired power stations in Mon State’s Ye Township and in Mergui, Tenasserim Division.
Competition is heating up as the state telecoms firm goes head to head with a foreign operator to win over tens of millions of customers.
Qatar’s Ooredoo will focus on adding more pay-as-you-go subscribers in Burma, but may provide monthly mobile contracts and fixed services in the long term.
Thailand’s military junta presses forward with plans to create a special status border trading area with Burma as Thai overland exports mushroom.