The Irrawaddy Magazine | Archive | BUSINESS | 6

Tourists could choose Burma after Thailand’s troubles, Rangoon’s airport will double in capacity and an investment shortage holds back the country’s seafood industry.

Poor Access to Banking Hurts Burma’s Economy: Report

A United Nations-led survey finds that few people save money, and that many are forced use expensive informal lenders.

Burmese Vice President Draws Ire With Cost of Living Comment

Most people are feeling the squeeze of rising prices, but Nyan Tun reportedly insists that 2,000 kyat, or just over $2, per day, is enough.

Ditching Clunkers, Car Imports Drive Burmese Demand for Oil

The opening up of Burma’s economy has meant a surge in ownership of used cars that are boosting demand and imports of fuel.

Ex-Norway Ambassador to Burma Becomes Telenor Executive

Former Norwegian Ambassador to Burma Katja Nordgaard will join Telenor, a Norwegian firm that she helped to win a license to develop Burma’s telecom sector.

Burma Faces Foreign Investment Competition From Cambodia, Laos

Study says the Burmese government must maintain the momentum of reforms in order for the country to fulfill its “vast economic potential.”

The UK government supports resource development, Malaysia’s trade minister encourages firms to invest in Burma, and the country’s import-export gap widens.

Burma’s Central Bank Expected to Submit Monetary Policy

A lawmaker says the new policy should come during the next Parliament, and may include rules around the entry of foreign banks into Burma.

SilkAir to Launch Mandalay-Singapore Direct Flight

The Singapore-based regional airline lauds Burma’s second city as a “promising destination” as it announces a new three-times-a-week direct flight from next month.

Rangoon to Host First Business Support Services Fair

It is hoped the event will help small businesses and entrepreneurs in Burma to get connected with companies offering market information and technology.

Smuggling of logs continues after an export ban, a UK law firms opens in Rangoon and a survey finds corruption the biggest concern for business.

With New Hotels, Naypyidaw Could See a Glut of Rooms

Despite concerns the capital would be booked out for this week’s Asean Summit, hoteliers predict that they will still have spare capacity.

Bangkok Airways Increases Flights to Burmese Capital

The Thai carrier adds extra flights to meet demand ahead of the Asean Summit to be held in Naypyidaw later this month.

Corruption the Biggest Concern for Burma Businesses: Survey

About 20 percent of firms in a UN-led survey called graft a “very severe obstacle,” with access to skilled labor and technology the next biggest obstacles.

‘Major challenges’ remain for investors, Thais urged to update their view of Burma and a pipeline pumps 1 billion cubic meters of gas to China.

Burmese Returnees Bet on Frontier Economy’s Future

After decades of isolation, Burma has high hopes its diaspora will help rebuild its economy and lift millions out of poverty.

China’s New Economic Priorities Offer ‘Exit Strategy’ on Myitsone Dam

A general tightening of lending by China, in particular to emerging markets, could see the massive hydroelectric project on the Irrawaddy River quietly abandoned.

Airline to Launch Flight Linking Mergui With Bangkok

A new joint-venture firm announces plans to fly twice weekly between the Thai capital and the city in southern Burma’s untouched archipelago.

Plans for Coal-Fired Power Plant Face Opposition in Mon State

Plans to build the state’s first coal-fired power plant come under fire by residents who say they worry about pollution and health ramifications.

Thilawa SEZ Shares Sold Out Following Strong Demand

Demand for shares in Myanmar Thilawa SEZ Holdings Public Limited has been higher than expected and the firm has raised US $21 million in capital.