Business / Trade


Purchasing gold has long been a way for Myanmar people to accrue secure savings, particularly in the absence of an efficient banking system. Today the gold market remains steady in a country with still-limited access to financial services. U Kyaw Win is the secretary of the Myanmar Gold Entrepreneurs Association, senior vice president of the Myanmar Gold Development Public Company and the owner of the U Htone gold shop. In this interview, he offers his assessment of the local gold market.
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Along with the increase in the world rubber price and the dollar appreciation, the domestic rubber price has jumped to Ks700 (US$0.7) per pound, a year high, according to Myanmar Rubber Planters and Producers Association.
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The first coal fired power station in Arakan State will be built in Kyauk Phyu Township according to the Arakan State Government. The power plant will be built by the Daewoo International Corporation and the MCM Energy Company Limited. Officials from the companies explained their plans to local people at an event on 6 May.
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Highway Holdings Limited has announced that it has purchased an additional 50 percent ownership interest in a Myanmar entity that operates a 15,000 sq. ft. manufacturing and assembly factory that the company has utilized for more than two years under a subcontracting arrangement. The company previously held a 25 percent ownership interest in this Myanmar entity according to a company press release.
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After some local banks unofficially received word last week that they would be permitted to issue credit cards, lenders expect logistical hurdles, inexperience and red tape to stall their introduction in the immediate future.
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Tariffs applied to imported goods will soon be valued using World Trade Organisation (WTO) standards, though awareness is low among traders about how this will work, according to experts.
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Villagers who say they have suffered from environmental and economic chaos as a result of a newly built hydropower dam in Pegu Division’s Taungtaunggyi held a protest on Sunday, calling on the government to act.
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U Win Myint had little to celebrate during the Thingyan Water Festival. To accommodate the festivities in nearby Mandalay, the authorities had released an extra or unusual amount of water from the Sal Taw Gyi dam, and in the process flooded U Win Myint’s paddy fields in the Mya Nandar Advanced Farmland district, Pa Thein Gyi Township. U Win Myint spent the Water Festival draining his paddy fields.
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The Thai Cabinet signed two memorandums of understanding on May 9 on the supply of natural gas and energy purchasing deal with Myanmar over the course of 10 years, according to NNT.
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Burma’s Department of Fisheries has instituted legal proceedings against twelve factories in Amarapura, claiming that industrial waste from their sites has run off and killed a massive amount of fish and wildlife in Taungthaman Lake, an Amarapura police station officer has confirmed to DVB.
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Over ten thousand Shan farmers gathered in Mong Nai Township, Southern Shan State, requesting the protection of the environment and natural resources in Shan State.
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May 8 From the banks of the Yangon River rises Myanmar’s great economic hope, a $1.5 billion manufacturing complex designed to lure investment and help the impoverished country compete in the global marketplace.
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The future of the Dawei project becomes more shaky as the signing agreement that would kick start construction of the Dawei deep-sea port in Myanmar has been delayed for the third time.
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Singapore Windsor Holdings has won a contract to build 500 telecommunication towers for Ooredoo Myanmar, according to a notice published late yesterday on the Singapore Exchange (SGX). (more…)

Nearly 30 local companies and joint ventures are awaiting government approval for hotel projects in Burma’s Mergui Archipelago or have already been given the greenlight to start implementing plans, according to Aung Zaw Win, director general of the Ministry of Hotels and Tourism.
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Were it not for its beautiful beaches, Kabyar Wa would be indistinguishable from any one of hundreds of Mon State’s farming villages. Home to about 300 households, most of the area’s inhabitants stake their livelihood on fishing, betel orchards and small-plot subsistence farming.
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Sandy Sein Thein is one member of a growing contingent of Burmese society: those among us who left Burma to work or study, but have returned to contribute their skills and vision to larger Burmese society at a time of rapid change.
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KFC one of the world’s largest fast food outlets is set to enter Myanmar. The U.S. chain’s local business partner, Yoma Strategic, has announced it intends to open it first restaurant in Yangon, although no date as yet been set. A statement issued by the group stated that it will be ‘the first major American quick service restaurant to establish a foothold in Myanmar.’Yoma Strategic said it planned to open several more restaurants in the city.
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Six years ago, Jon North started collecting data on Myanmar. He bought maps, secured satellite imagery and started scouting. He has travelled the world kicking rocks, and liked what he saw in the Southeast Asian nation.
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Authorities in Myanmar’s second-largest city are planning legal action against 17 factories for polluting a local lake, government officials said Thursday.
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