The Irrawaddy Magazine | Archive | BUSINESS | 3
Govt Plans ‘Visit Myanmar Year’ in 2016, Minister Says

Deputy Tourism Minister announces plans to make 2016 the “Visit Myanmar Year” in order to boost the tourism sector and draw foreign visitors to Burma.

El Nino Threatens Export Plans as Burma’s Rice Industry Revs Up

Annual rice exports in Burma are unlikely to meet the industry’s target, as monsoonal rainfall needed to boost crops is expected to be below average.

Thai Junta Says It Will Help Kick-Start Stalled Dawei SEZ Talks

Thailand will revive talks with Japan and Burma aimed at kick-starting the floundering multi-billion dollar Dawei Special Economic Zone in Tenasserim Division.

20 Foreign Firms Agree to Build Factories at Thilawa SEZ

Twenty foreign companies and one local company sign agreements to build factories in the Japan-backed Thilawa Special Economic Zone near Rangoon.

Burma’s Central Bank Awards 9 Foreign Lenders Operating Licenses

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.

12 Companies Bid to Develop Infrastructure in Kyaukphyu SEZ

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.

Telenor to Launch 3rd Telecoms Service This Week

Norway’s Telenor said it would launch telecommunications services on Saturday, becoming the second foreign telecoms company to start operating in Burma.

Burma Investment Message Undermined by Politics, Sanctions

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 to Issue Foreign Bank Licenses by End-Sept: Central Bank

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.

Officials, Big Business to Talk Investment Opportunities in Burma

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.’

Burmese Gas Firm Official Confirms Plans for Doubling of CNG Price

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 SEZ ‘Key’ to China Business Corridor, But Doubts Remain

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 Sees Foreign Investment Topping $5b in 2014-15

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.

Taiwanese Firms Look to Cash In on China’s Strained Relations with Burma

The Taiwan Electrical and Electronic Manufacturers’ Association is reportedly planning a large investment to build an industrial park in the Irrawaddy Delta.

Burma Must Invest in Education to Boost Growth: ADB

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.

Apple Supplier in China Accused of Violations

Two activist groups say a factory making the upcoming iPhone 6 is violating overtime rules, withholding wages and failing to meet safety standards.