Business / Trade


Foreign investment in August was nearly half the US$5 billion targetted for the 2014-2015 fiscal year, Department of Investment and Companies Administration director-general U Aung Naing Oo told journalists this week. (more…)

While the government has clearly place employment on the agenda, the amount of jobs being added over the last two years had fallen short of the desired results, he said at Euromoney’s Myanmar Global Investment Forum in Nay Pyi Taw on September 16. (more…)

According to Myanmar’s Small and Medium Industrial Development Bank (SMIDB), only the contract-signing essentially remains for it to borrow US$50 million (48.75 billion kyat) from Singapore and Vietnam for SME-lending purposes. (more…)

The Myanmar Investment Commission (MIC) needs to prioritise investment that creates more jobs, economists told the Myanmar Global Investment Forum in Nay Pyi Taw on September 16. (more…)

Studies are well under way into 18 locations in Myanmar, including Yangon, for the generation of electricity from wind power, according to the Electric Power Ministry. (more…)

When Myanmar, earlier known as Burma, began to emerge from military dictatorship in 2011, most Western embargoes were lifted in response to the wide-ranging political and economic reforms introduced. Over the past three years, attempts by the quasi-civilian government led by former general Thein Sein to lure foreign investment, create jobs and improve infrastructure have generated excitement over the country’s potential as Asia’s next frontier market. (more…)

U Sett Aung, the vice chairman of the Central Bank of Myanmar told a press conference held in Yangon on September 14 that foreign banks would be given permission to operate Myanmar at some point in late September or early October.  (more…)

The International Finance Corporation, a member of the World Bank Group, has agreed to provide Yoma Bank Ltd with a US$5 million convertible loan and help improve its risk management and corporate governance, a news release announced on September 16. (more…)

The Ministry of Labour, Employment and Social Security is tightening procedures for issuing licences to job agencies that send workers overseas, says the Myanmar Overseas Employment Agencies Federation. (more…)

Myanmar has revised its forecast for foreign direct investment (FDI) to more than $5 billion for the fiscal year that began in April, a senior official said on Tuesday. (more…)

Irrawaddy Division officials and a Burmese construction company met with residents of villages in Nga Yoke Kaung Township last weekend to inform of them of a plan to build a 300-megawatt coal-firedpower plant in the coastal region. (more…)

U Sett Aung, the vice chairman of the Central Bank of Myanmar told a press conference held in Yangon on September 14 that foreign banks would be given permission to operate Myanmar at some point in late September or early October. (more…)

According to reports by the Irrawaddy magazine, the Myanmar Minister of Energy recently claimed that Myanmar is hoping to become the country with most solar power usage in the world. (more…)

The Myanmar Karen Peace Organization hosted a press conference in Yangon on the 9th, warning Japan against casually developing economic projects in southeast Myanmar. (more…)

A coalition of Shan community based organizations has said a moratorium on resource extraction is urgently needed until there is nationwide peace and a discussion on the control and management of the country’s natural resources, much of which are in ethnic areas.
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More than 30 ethnic Karen community based organizations, including environmental watchdogs and civil society organizations, have criticized a blueprint for economic development in Southeast Burma published by the Japan International Cooperation Agency (JICA), an aid agency that operates under the Japanese government.
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As the illegal trade in jade, timber and drugs along the Sino-Burmese border appears unstoppable, black market banks have become a major channel for laundering criminal assets, according to insiders who are familiar with the business.
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A report by the Asian Development Bank has predicted the gross domestic product of Myanmar could reach as high as 9.5 percent by 2030, which would see the country’s GDP raised to nearly US$5000 (K487,500) per capita.
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The state owned Myanmar Timber Enterprise has harvested over 600,000 tonnes of teak and other hardwood’s for sale in the 2014-15 fiscal year, says the general manager of the organisation.
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Eighteen local and foreign companies have signed deals with the management committee for Thilawa Special Economic Zone to open plants in its first phase, which covers 400 hectares south of Yangon, a member of the committee said.
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