The Irrawaddy Magazine | Archive | BUSINESS | 2
Burma’s Kyat at Weakest Since Float on Strong Dollar, Trade Deficit

A strengthening US dollar on global currency markets, coupled with Burma’s growing trade imbalance, pushes the kyat exchange rate above 1,000 kyats per US dollar.

Thai Power Firm’s Business Tactics ‘Use Burma’s Weak Laws’

Restricted at home, a Thai state-owned electricity firm wants to use Burma as a proxy supplier of electricity via environmentally damaging dams, an NGO says.

Telenor SIMs Launched in Rangoon

Norway’s Telenor launches its telecom network in Rangoon, becoming the third telecoms provider to offer services in Burma’s biggest and increasingly connected city.

Tax Revenues Expected to Rise to $4Bln: Official

The government expects to collect $4 billion in taxes this year. This represents a third consecutive increase in revenues but falls short of IMF projections.

Tin industry surges; England to aid banking sector; MOGE will tender more energy blocks; Thai firm inks solar agreement; and US companies fund women’s initiatives.

E-Visa Service to be Offered for 6 Additional Entry Points

Burma’s Ministry of Immigration and Population plans to begin issuing electronic visas for tourists entering the country through six additional locations.

Record Haul in Jade Sales to Burmese Traders

Jade sales at a major gems emporium for local traders in Burma hit a record high, with 126 billion kyats worth of the gemstone sold.

Japan to Carry out Studies on How to Revive Dawei SEZ

Japan is to carry out several studies on how the stalled Dawei Special Economic Zone (SEZ) in southern Burma can be revived, government sources say.

Burma FDI Hits Full-Year Target in First 6 Months of 2014-15

Foreign direct investment into Burma exceeds the government’s original target just six months into the fiscal year, topping $4 billion through September.

Thai firm with Burma dam criticized; Mae Sot-Myawaddy trade soars; visa-free Asean urged; UK’s ‘ethical business’ pledge panned; and a jade market taps high demand.

After Months, Hundreds of Garment Workers Receive Overdue Pay

Some 750 workers receive their salaries and severance pay after the Labor Ministry auctioned off property of the defunct South Korean Master Sports factory.

Hilton and Eden Group Open Hilton Hotel in Naypyidaw

Hilton Group opens its first luxury hotel in Burma after completing an upgrade of a hotel in the capital owned by local conglomerate Eden Group.

Burma to Begin Rice Exports to NE India

Burma and India are finalizing a major rice deal, which will facilitate the export of 20,000 metric tons of Burmese rice into India every month.

Rangoon Tax Department Completes Annual Property Valuation

Rangoon Division’s Internal Revenue Department has completed its annual evaluation of real estate prices as part of its new property sales tax system

Ministry Sells Property of Closed Factory, Promises Pay for Workers

The Labor Ministry says it sold the property of Master Sports factory in order to pay some 650 workers severance pay and salaries.

Thailand pushes for Dawei LNG terminal, Burma’s economy grows faster than expected and jade mining resumes in Kachin State’s troubled Hpakant.

Burma, Thailand Renew Vows to Resume Dawei SEZ

Burma and Thailand agree once more to try to restart the controversial Dawei Special Economic Zone (SEZ) project.

Is Burma a ‘Global Leader’ of Corporate Transparency?

Newly disclosed corporate ownership data has prompted one international advocacy group to label Burma as a “world leader” in transparency.

Powerhouse Laos Offers Burma a Fix to Electricity Woes

Burma’s chronic lack of electricity to power its economic development could be solved from an unlikely source underdeveloped neighboring Laos.

Foreign Banks in Burma Will Bide Time to Reap Returns

Burma has thrown open the door to foreign banks, but tight restrictions on lending mean it’s not a warm welcome, at least not yet.