Business / Trade

Burma’s Ministry of Labor said it has auctioned off the property of closed down South Korean factory Master Sports in Rangoon and that it plans to use the money to pay some 650 laid-off workers who have been waiting on severance pay and unpaid salaries for four months. (more…)

Sixty-three companies have signed 50-year leases to rent land for factories in Thilawa Special Economic Zone – almost triple the number announced at the beginning of this month, according to the Myanmar Thilawa SEZ Holdings Public Limited. (more…)

Newly disclosed corporate ownership data has prompted one international advocacy group to label Burma as a “world leader” in transparency and urge the government to maintain pressure on industry stakeholders as the country moves toward achieving global standards. (more…)

Thai Prime Minister Prayuth Chan-ocha met with Burma’s President Thein Sein in Naypyidaw on Thursday, when the two military-turned-civilian leaders agreed once more to restart the Dawei Special Economic Zone (SEZ) project. (more…)

Burma’s chronic lack of electricity to power its economic development could be solved from an unlikely source—underdeveloped Laos. (more…)

Myanmar rice exporters are set to resume maritime trade that was suspended during the rainy season, according to the Myanmar Rice Federation Joint Secretary Dr. Soe Tun October 9. (more…)

The Internal Revenue Department has fined or warned scores of businesses for failing to pay taxes but has yet to file criminal charges against a single tax evader, said Min Htut, its director-general. (more…)

Myanmar Airways International (MAI) has started flying to Osaka, Japan three times a week, a spokesperson for the carrier said.


Total trade for this fiscal year has risen more than 30 per cent over the same period last year to more than US$ 13 billion, but the trade deficit is widening, according to the latest data from the commerce ministry. (more…)

French international hotel firm Accor opened its first Novotel-branded hotel in Myanmar since announcing its return to the country in 2013. Novotel Inle Lake, located on the east bank of the southern Shan State attraction, was developed in partnership with Myat Min Company. (more…)

Entrepreneurs in Myanmar are hurt by high costs and high expectations when starting up businesses, according to tech entrepreneur Ko Thar Htet. (more…)

More than 7000 lots of gems have arrived for an October 14 to 18 show in Nay Pyi Taw, according to U Aung Naing Oo, a spokesperson for the Myanmar Gems and Jewellery Entrepreneurs Association. (more…)

A square foot of land in four of Yangon’s townships – Bahan, Kamayut, Sanchaung and Mayangon – can be worth as much as Ks 400,000 (about US$400), according to new rates announced by the valuation committee of the Internal Revenue Department on October 8. (more…)

Myanmar has thrown open the door to foreign banks, but weak credit protection and tight restrictions on lending mean it’s not a warm welcome, at least not yet. (more…)

Seven suspected members of an elephant poaching ring were detained by military officers in Irrawaddy Division on Sunday, police said. (more…)

After a two-year suspension due to armed conflict in the area, jade mining has resumed in Kachin State’s Phakhant Township, but only large companies have re-entered the areas, local residents say. (more…)

A scheme to allow would-be homeowners to make small monthly payments to purchase apartment units was attacked by Yangon Region parliamentarians last week, who warned of the possibility of fraud. (more…)

The Parkroyal Hotel conference room was abuzz with discussion on the weekend about how Myanmar tech company developers could help create conditions for a “Silicon Valley” in their country. (more…)

A number of Myanmar’s domestic airlines are putting the increased sales they say they are experiencing down to the introduction of online sales and e-ticketing. (more…)

A 24-storey high-end condominium bloc called Royal Sayarsan will be built at Sayarsan Road in Bahan Township with plans for 60 per cent local ownership, according to a press conference on Saturday. (more…)

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