The Irrawaddy Magazine | Archive | BUSINESS | 7
Burma Govt May Let Foreign Banks Operate This Year

Foreign banks may be allowed to operate this year although they will only be allowed to have branches in certain areas and offer limited products.

Ooredoo to Reach 30% of Burma’s Population Before the End of September

Qatari telecom firm Ooredoo says it will expand access to 60 percent of people in the country by the end of the year.

Burmese Govt Urges Foreign Investors to ‘Take the Plunge’

Through a new “one-stop” office in Rangoon, the country’s investment body is looking to make it easier for international firms to enter the frontier economy.

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.”

US Accuses China of Cyber Spying on American Companies

The United States charges five Chinese military officers and accused them of hacking into American nuclear, metal and solar companies to steal trade secrets.

Activists Free 2 Chinese Kidnapped at Burma Mine

A local manager for Chinese company Wanbao says the firm did not give in to demands made by activists who want the Letpadaung mine closed.

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.

‘More Competition Will Get the Work Done Faster’

Burma’s Deputy Minister of Communications and Information Technology Thaung Tin talks to The Irrawaddy as the country’s telecoms sector is about to be transformed.

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.