The Irrawaddy | Archive | Business | 3
The Irrawaddy Business Roundup (Apr. 11, 2015)

HAGL seeks new investor for Inya high-rise, Suzuki to assemble cars in Thilawa SEZ, and Mon State power plant gets the go-ahead.

Foreign Investment Soars to Record $8B in 2014-15

Foreign direct investment in Burma grows sharply in 2014-2015, reaching US$8 billion, a more than doubling of investments compared to the year before.

Foreign Banks Opening Branches in Burma for First Time in Decades

Two Japanese and one Singaporean bank will become the first foreign banks to operate in Burma for decades when they open branches on April 23.

Burma’s Rice Exports Up 40% in 2014-15

Burma’s rice exports rise over 40 percent in the 2014-15 fiscal year, with shipments to China dominating despite Beijing’s official ban on Burmese rice imports.

The Irrawaddy Business Roundup (Apr. 4, 2015)

Warnings EU investment deal could keep garment wages low, Toshiba invests in hydropower, and Mitsubishi begins joint venture with local coffee maker.

Air Mandalay to Return to Skies in May

The temporarily grounded Air Mandalay expects to resume international flights later this year, following a resumption of domestic routes in May.

Visa Card Expands Services, Local Card Payments Hampered by Problems

Visa Card can now be used at Rangoon City Mart supermarkets, while the domestic card system of Myanmar Payment Union continues to suffer from problems.

Burma’s Trade Deficit Jumps 88 % in Fiscal 2014/15

Burma’s trade deficit jumps 88 percent in the fiscal year ending on March 31, driven by rapid economic expansion in the formerly military-ruled country.

In Presence of Dutch Queen, Govt Launches Strategy to Expand Microcredit

Burma’s Ministry of Finance launches a new strategy that aims to expand access to financial services, such as microcredit and insurance, to a broader public.

Solar-Power Airplane Departs from Mandalay

Solar Impulse 2, an aircraft powered entirely by solar energy, left Mandalay for China on Monday morning.

The Irrawaddy Business Roundup (Mar. 28, 2015)

Japan’s Wacoal expected to open at Thilawa, MAI flags European routes, ADB calls for education shakeup and more.

Trade Deficit, Salary Rises Set to Push Up Consumer Prices: Economists

The government’s dramatic salary increase and a fivefold increase in the trade deficit will push inflation rates above GDP growth, according to forecasts.

Burma Launches Export Strategy to Connect Smaller Firms to Global Economy

Burma launces an export strategy aimed at strengthening smaller companies, which is a departure from military rule when a few large firms dominated the economy.

Chevron Inks Oil, Gas Production Sharing Contract in Burma

Chevron Corp signs a production sharing contract with Myanmar Oil & Gas Enterprise (MOGE) to explore oil and gas in the Rakhine Basin.

Govt to Support Domestic Airlines as Asean ‘Open Skies’ Takes Effect

Burma’s government will protect its airline industry and keep most domestic airports off limits for regional airlines as it implements Asean’s Open Skies policy.

Energy Firms BG, Woodside to Invest $1.1b in Burma Blocks: Official

Britain’s BG Group and Australia’s Woodside Petroleum will invest up to US$1.08 billion to explore for oil and gas in four blocks off Burma’s coast.

The Irrawaddy Business Roundup (March 21, 2015)

Businesses’ transparency under the microscope; condominium pre-sales slow; an Indian border trade post is forthcoming; South Korea aids connectivity; and “intercultural training” offered for expats.

Jade Sales Dwindle Amid Conflict and Chinese Anti-Graft Campaign

Jade sales at Burma’s biggest gems market slow to a near-halt, likely linked to Chinese anti-corruption campaigns and stalled production in conflict-affected Kachin State.

Govt Gives Green Light for Wine Imports

Domestic companies can now apply for wine import licenses, nearly one month after a major retail association stopped selling foreign alcohol demanding swift reforms.

Antique Furniture Enjoys a Rangoon Renaissance

Refurbished antique woodwork, mostly crafted during Burma’s pre-independence era, makes a roaring comeback in modern homes and offices throughout the country’s major cities.