The Irrawaddy Magazine | Archive | BUSINESS | 6
Britain Sets Up Chamber of Commerce in Burma

The UK government and British companies are providing funding for a new body that will help businesses looking to invest in Burma’s growing economy.

Burma’s Oil Production Tipped to Decline; Fuel Imports to Increase

Report says there is unlikely to be enough investment to increase the country’s refining capacity, even as companies embark upon exploration for oil and gas.

Japan’s KDDI, Sumitomo Corp to Invest $2 bln in Burma’s MPT

Japan’s KDDI Corp and Sumitomo Corp, in partnership with Burma’s state-backed telecoms operator MPT, plan to invest about $2 billion to expand services in Burma.

Production to be expanded at Yadana gas field, gems auction brings in a record-breaking $3.4 billion, and Singapore tops the latest foreign investment figures.

Achieving Burma’s Energy Goal Will Be ‘Very Tough’: Report

The government plans to increase its electricity-generating capacity more than fivefold by 2030, but investment is needed to light up the country.

More Low-End Property Sales Registered Under New Tax System

A new tax system introduced in April that reduces rates for lower-value properties has prompted many owners to register their sales and pay taxes.

Burmese Minister Oversees Power Generation Deals in the UK

As Khin Maung Soe visits Britain, UK-based companies Rolls Royce and Aggreko ink agreements with local firms to generate electricity in Burma.

Jade Mines to Resume Operations in Kachin State: Burmese Govt

In northern Burma, where the vast majority of the world’s jade is produced, mining companies can resume operations in September, following a two-year hiatus due to armed conflicts.

Jade Emporium Sales Soar to $3.4Bln

Jade sales at Burma’s major gems emporium last week have surpassed expectations and totaled about US $3.4 billion, up from about $2.6 billion last year.

Burma to Name Kyaukphyu SEZ Developers by December

The government and consultants CPG are inviting international companies to register their interest in building a port, an industrial zone and residential developments in Arakan State.

Thilawa key to future FDI; oil and gas sector still opaque; French exploration firm opens Rangoon base; more dams, despite opposition; rice exports held back

Burma Accepted for EITI Scheme, But NGOs Remain Concerned

Burma has become a candidate for the Extractive Industries Transparency Initiative, a global anti-corruption scheme, but NGOs remain concerned over the government’s commitment.

$17 Million Worth of Smuggled Goods Seized in Burma

Over the past 20 months, the Burmese government has ramped up its efforts to inspect imports and exports at checkpoints across the country.

Private Sector Development of Domestic Airports Postponed

The Department of Civil Aviation is indefinitely delaying its plans to invite foreign and local companies to upgrade 30 out Burma’s 69 domestic airports.

London Accused of Hypocrisy While Preaching Burma Transparency

The British government is sharply criticized for hiding behind “commercial confidentiality” rules relating to Burma while calling for business transparency in the Southeast Asian nation.

Revenue Dept to Improve Tax Collection from Soaring Rent Rates

The Department of Internal Revenue announces that it would improve tax collection on income earned from rent rates, which have been soaring across Rangoon.

Operating licenses for foreign banks; upmarket property deal inked; Thailand opposes overland visa arrangements; Kyaukphyu power plant bids invited; and ministry budgets to face scrutiny.

High Level of Corporate Secrecy in Oil and Gas Sector, Survey Finds

Most companies with oil and gas blocks in Burma decline to reveal details about their ownership, a level of secrecy that raises questions over corruption.

Less Raw Jade for Sale at Burma Gems Emporium Amid Push for Value-Added Products

There are fewer jade lots at a major gems emporium in Naypyidaw this year, but the government still expects to earn 2 billion euros.

Strong Start for Burma’s 2014-15 FDI

Overall foreign direct investment into Burma continues to rise in the first two months of the fiscal beginning April 1.