The Irrawaddy | Archive | Business | 2

RANGOON — Amid a rash of criticism over Burma’s candidate vetting procedures, one minority does not seem to be suffering any setbacks: the rich. A number of so-called “cronies” have cleared the interpersonal and administrative hurdles that left many prominent pro-democracy activists, followers of Islam and other non-mainstreamers behind. US-blacklisted Htay Myint and Khin Shwe, […]

Government Announces Low-Cost Housing Plan as Minimum Wage Bites Garment manufacturers loudly opposed the level of the country’s first minimum wage, which came into force on Sept. 1 at 3,600 kyat per day. Some workers have reportedly already been laid off by employers, who claim that the level makes it hard for them to compete […]

Bangladesh Favors Japan for Port and Power Plant, in Blow to China

Bangladesh may shelve an $8 billion port project it has been negotiating with China as it looks to pursue a nearby facility financed by Japan.

The Asian Development Bank’s Trade Finance Program aims to enhance the technical capacity of Burmese banks, which could offer a boost to local businesses.

Aye Kyaw, managing director of a local tour operator, says he’s been barred from leaving the country, amid an apparent spat with Burma’s tourism ministry.

Almost $20b in Dirty Money Left Burma in Five Decades: Researchers

Nearly $20 billion linked to corruption, crime and tax evasion has left Burma over 50 years, slashing government revenue and driving an underground economy.

State-owned transport provider Myanmar Railways calls on private investors to operate one of the country’s many promising new tourism opportunities.

UK Firm Withdraws Application to Explore Jade Area

Aurasian Minerals says it will not pursue activities in the country for the foreseeable future, less than a year after submitting applications for mineral exploration licenses.

At least one factory has shut down, and several others have reduced their workforces and cut allowances, following the government’s adoption of a minimum wage.

The Irrawaddy Business Roundup (Sept. 5, 2015)

ADB issues warning over traffic congestion, analysts predict post-election property market bounce, and Thailand’s PTTEP offloads oil and gas stakes.

Burma’s sole domestic provider of card-based payments, Myanmar Payment Union, has formed a public company comprised of its 23 member banks.

Burma’s government will soon announce which local companies will comprise a consortium to be granted a fourth and final telecoms license in the once-closed country.


RANGOON — With the yearlong push to introduce a new Investment Law delayed until after the election, observers have warned that more work will be required to enshrine sorely needed community protections for future investment projects. The drafting of the investment bill—which will streamline and update the Myanmar Citizens Investment Law and Foreign Investment Law […]

Burma’s sluggish trade figures look set to fall below an optimistic government forecast for the financial year, according to Commerce Ministry figures.

Mon Business Plans on the up and up

Prominent Mon businessman Min Banyar San, a major shareholder of Tala Mon Company, is among those driving business ventures in his native state.

Two years of negotiation culminate with the Burmese government’s approval of a 3,600 kyat (US$2.80) minimum wage for all sectors, to be implemented in September.

Rice Federation Forecasts Exports to Resume as Scheduled in Mid-September

Recently halted after severe flooding that inundated swathes of the country, Burma’s rice federation said rice exports would resume as planned on Sept. 15.

Krispy Kreme to open 10 outlets, Comms Ministry sets capital requirements on fourth telco license, and Scottish firm supplies controversial Kachin jade mines.

The relocation of cancelled developments planned near Shwedagon Pagoda is likely to be finalized by the end of the year, according to the Myanmar Investment Commission.

Burma’s largest beer maker, military-owned Myanmar Brewery Ltd., aims to increase its annual production by 50 percent in the years ahead.