The Irrawaddy | Archive | Business | 7

Labor rights improve in Burma but worsen in Thailand; tourism numbers pose service problems; gas export revenues increase; and EU gives funding boost to Burma.

Burma Last in Asean to Join Regional Infrastructure Fund

Burma has become a full member of the Asean Infrastructure Fund, the last country of the regional grouping to gain shareholder status.

Rangoon Govt to Seize 80% of Idle Industrial Zones

Rangoon’s Industrial Zones Management Committee receives business proposals for only about 20 percent of idle land holdings in divisional industrial zones by a government-imposed deadline.

Govt to Tighten Car Import License Requirements

The government will require car importers to apply for licenses prior to shipping in an effort to reduce the storage of vehicles at Thilawa Port.

‘The Bubble Will Definitely Burst’

Serge Pun, executive chairman of Yoma Strategic Holdings, discusses a recent ADB loan, the resumption of services at Yoma Bank and Burma’s overheated property market.

ADB to Loan Burmese Conglomerate Yoma $100Mn for Connectivity Projects

The Asian Development Bank will provide a loan of up to US$100 million to local conglomerate Yoma Strategic Holdings to improve infrastructure connectivity in Burma.

Optical cable connects Yunnan to Bay of Bengal; foreign investors face crackdown; and Singapore firm buys Rangoon office tower share.

In Muse, Promise and Perils of Development Redux

The Muse Central Economic Zone project moves forward in an effort to boost commerce along the Chinese border, despite land grievances from some local residents.

Offshore Contracts Signed, But Delays Abound

An industry report has said it may be years by the time any oil or gas is produced from 20 licensed offshore exploration areas.

Crunch Time for Copycats?

Intellectual property may soon become a hot issue, but at present, the legal framework covering intellectual property rights (IPR) in Myanmar is virtually nonexistent.  

Rangoon Govt Begins Impounding Sports Cars, Motorbikes

With fines failing to deter owners of high performance automobiles and motorbikes, traffic police have been instructed to seize and impound unauthorized vehicles.

Rangoon Govt Targets Idle Industrial Plots

The Rangoon government will require idle industrial landholders to present a business plan for how they will use the real estate or see it seized.

Former Norway Envoy’s Telenor Move Raises Eyebrows

The move of Norway’s former ambassador to Burma to telecommunications firm Telenor prompts concern from some about the ethics of Oslo’s foreign policy toward Burma.

Crashing oil prices force rethink on offshore projects; business visa on arrival numbers surge; and Serbia seeks energy contracts in Naypyidaw.

Plans to Privatize Pair of Rangoon Heritage Buildings Shelved

Burma’s Directorate of Investment and Companies Administration will return two Rangoon heritage buildings to the government after previously indicating that they were slated for privatization.

Thailand, Burma to Revive Multi-Billion-Dollar Dawei Zone in 2015

Thailand and Burma will sign a pact in January aimed at reviving the multi-billion dollar Dawei industrial zone in southern Burma.

Rangoon Tax Department Announces Restaurant Crackdown

In an effort to raise commercial tax compliance rates, the Internal Revenue Department will enforce a pre-purchase stamp system for customer receipts at dining establishments.

Burma Public Sector Ranked Among Most Corrupt in Asia

An international survey says Burma remains one of the worst countries in Asia for public sector graft and is the 19th most corrupt country globally.

Economists Say Political Stability Key to Growth

Economists peg the health of Burma’s economy to the political environment ahead of next year’s general election, saying stability is key to growth.

Burma investment is an “extreme risk”; Chinese oil giant will aid domestic industry; Japanese lender partners with local bank; and stalling reforms endanger the economy.