The Irrawaddy | Archive | Business | 3
ADB to Loan Burmese Conglomerate Yoma $100Mn for Connectivity Projects

The Asian Development Bank will provide a loan of up to US$100 million to local conglomerate Yoma Strategic Holdings to improve infrastructure connectivity in Burma.

Optical cable connects Yunnan to Bay of Bengal; foreign investors face crackdown; and Singapore firm buys Rangoon office tower share.

In Muse, Promise and Perils of Development Redux

The Muse Central Economic Zone project moves forward in an effort to boost commerce along the Chinese border, despite land grievances from some local residents.

Offshore Contracts Signed, But Delays Abound

An industry report has said it may be years by the time any oil or gas is produced from 20 licensed offshore exploration areas.

Crunch Time for Copycats?

Intellectual property may soon become a hot issue, but at present, the legal framework covering intellectual property rights (IPR) in Myanmar is virtually nonexistent.  

Rangoon Govt Begins Impounding Sports Cars, Motorbikes

With fines failing to deter owners of high performance automobiles and motorbikes, traffic police have been instructed to seize and impound unauthorized vehicles.

Rangoon Govt Targets Idle Industrial Plots

The Rangoon government will require idle industrial landholders to present a business plan for how they will use the real estate or see it seized.

Former Norway Envoy’s Telenor Move Raises Eyebrows

The move of Norway’s former ambassador to Burma to telecommunications firm Telenor prompts concern from some about the ethics of Oslo’s foreign policy toward Burma.

Crashing oil prices force rethink on offshore projects; business visa on arrival numbers surge; and Serbia seeks energy contracts in Naypyidaw.

Plans to Privatize Pair of Rangoon Heritage Buildings Shelved

Burma’s Directorate of Investment and Companies Administration will return two Rangoon heritage buildings to the government after previously indicating that they were slated for privatization.

Thailand, Burma to Revive Multi-Billion-Dollar Dawei Zone in 2015

Thailand and Burma will sign a pact in January aimed at reviving the multi-billion dollar Dawei industrial zone in southern Burma.

Rangoon Tax Department Announces Restaurant Crackdown

In an effort to raise commercial tax compliance rates, the Internal Revenue Department will enforce a pre-purchase stamp system for customer receipts at dining establishments.

Burma Public Sector Ranked Among Most Corrupt in Asia

An international survey says Burma remains one of the worst countries in Asia for public sector graft and is the 19th most corrupt country globally.

Economists Say Political Stability Key to Growth

Economists peg the health of Burma’s economy to the political environment ahead of next year’s general election, saying stability is key to growth.

Burma investment is an “extreme risk”; Chinese oil giant will aid domestic industry; Japanese lender partners with local bank; and stalling reforms endanger the economy.

Questions Surround 4th Telecom License, After Military Firm Name Emerges

A Ministry of Communications and Information Technology official denies a report that a military-owned conglomerate will become Burma’s fourth telecom operator.

ADB to Loan $80M for Upgrade of Irrawaddy Delta Road

The Asian Development Bank provides Burma with an US$80 million loan for the upgrade of the Maubin-Pyapon road, a key link to the Irrawaddy Delta.

UK MPs Group Urges Return of Burma Sanctions if Abuses Don’t Stop

A British parliamentary committee advises a re-imposition of European economic sanctions on Burma if there is no improvement in the country’s human rights situation.

Rangoon Power Board to Seek Private Sector Involvement from 2015

The Yangon Electricity Supply Board will soon start courting private investment, paving the way for a possible privatization of the city’s electricity network.

General Electric to Upgrade Rangoon Power Plants

American multinational General Electric will begin upgrading Rangoon’s industrial gas turbines after finalizing an agreement with the government-owned Myanmar Electric Power Enterprise.