The Irrawaddy | Archive | Business | 3
The Irrawaddy Business Roundup (May 16, 2015)

Firms approved for Myeik development; Mining Law could be delayed until after elections; new bridge links Burma with Laos; Thailand brings solar to Burma.

12 Factories to Be Sued for Polluting Mandalay Lake

Twelve factories in Mandalay’s Industrial Zone 2 are being sued by the Department of Fisheries for violating wastewater management regulations and polluting Taungthaman Lake.

A four-year decline in world rubber prices and difficulties in negotiating export hurdles has hit plantation owners hard in Wa territory.

Retailers Seek Govt Clarification on Booze Imports

The Myanmar Retailers Association has complained to the government over the long delay in clarifying the legal status of alcohol importers.

Architects Group Plans Forum to Air Shwedagon Concerns

A forum will be held on the weekend in response to concerns that nearby construction projects will affect the structural integrity of Shwedagon Pagoda.

Burmese Kyat Weakens in Light of Trade Deficit, Shortfall of USD

A shortfall of US currency and a growing trade deficit has once again weakened the Burmese kyat, bankers and businesspeople say.

BMW Boasts Strong Sales Figures in Local Market

German luxury automotive manufacturer BMW has made substantial inroads into the Burmese market, with the country’s first licensed importer selling 180 vehicles in six months.

Local Lenders Wait on Central Bank for Credit Card Approvals

Lenders expect logistical hurdles, inexperience and red tape to stall the introduction of credit cards in the immediate future.

Car lovers are offered a glimpse of classic beauty at Burma’s first vintage auto expo, showcasing refurbished vehicles from the pre-war days to the 1970s.

The Irrawaddy Business Roundup (May 9, 2015)

Rival Australian business groups in dispute, Spanish chain Melia to operate Inya Lake hotel, and Carlsberg begins brewing in Pegu.

Quick Buck Land Boom Stalls Mon State Resort Developments

The increasing profile of the Kabyar Wa beach has now jeopardized the government’s hope to realize its expansive development proposals by the planned 2017 completion date.

Investors Lining Up for Mergui Archipelago Hotel Permits

Over 20 companies await approval for hotel projects in Burma’s pristine Mergui Archipelago, while the plans of two joint ventures have already received the greenlight.

After Decades of Decay, Burma Bets on Thilawa to Lead Industry Boom

The first phase of the 2,400-hectare Thilawa Special Economic Zone an hour from Rangoon, is only months away from completion.

Singapore’s UOB Offers First Onshore Loan in Burma

Singapore-based United Overseas Bank (UOB) offers its first onshore loan in Burma, a country once isolated from the global economy.

SIM Sales Soar as Burma Races to Catch Up in Telecoms

Burma, one of the world’s least connected nations, is racing to catch up, providing a boost to the foreign mobile companies allowed into the country.

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.