Business / Trade

Hilton Worldwide Holdings Inc opened its first luxury hotel in Burma on Friday, after completing an upgrade of a hotel in the capital Naypyidaw owned by local conglomerate Eden Group. (more…)

Preparations for the first section of the Thilawa Special Economic Zone (SEZ) included clearing nearly 400 hectares of land and building roads to a nearby port. The industrial park is scheduled to open in the middle of next year and some of the 22 companies set to move in will begin building their factories by the end of the month. Yet the most immediate beneficiary will not be Myanmar’s economy. Takashi Yanai, head of the Burmese-Japanese joint venture developing Thilawa, jokes that the monastery sitting in a finger of forest jutting into the park has much to gain. “You cannot touch a monastery in this country,” says Mr Yanai. With every corporate groundbreaking will come a donation to the monks that may one day pay for a grand golden stupa. (more…)

Leading Japanese vehicle maker Toyota is still dominating Myanmar’s growing automobile market with a 53 percent share compared with top-notch Korean and Western automobile brands, according to an online survey released October 13. (more…)

On Tuesday, the newly formed Licensing Association of Thailand (LAT) wrapped up its inaugural meeting in Bangkok, where intellectual property (IP) professionals discussed some of the challenges faced by companies seeking to license their patents, trademarks, and copyrights in Southeast Asia. (more…)

Thailand’s border trade with Burma is expected to flourish over the next couple of years, driven mainly by the planned development of a special economic zone (SEZ) in Tak’s Mae Sot district. (more…)

Beans and pulses traders have begun a pilot program selling futures contracts, as business leaders look to develop a futures market for commodities in the country. (more…)

Burma and India are putting the finishing touches on a major rice export deal, set to begin this month, which will facilitate the sale of about 20,000 metric tons of Burmese rice into Northeast India every month for the coming year. (more…)

State-owned flag carrier Myanma Airways will begin offering new sightseeing routes over some of Burma’s most scenic and historic sites, the company announced on Sunday. (more…)

Exports of natural gas have surpassed US$2.1 billion in the first half of the fiscal year, up more than $440 million over the same period last year, according to figures from the Ministry of Commerce. (more…)

Hong Kong-based Prosperity Knitwear Myanmar Ltd has invested US$5.5 million in setting up a garment factory at the former Thilawa industrial zone area this month, and it plans to up the investment to up to $45 million in 2015. (more…)

The construction of Kyaukpyu Deep Sea Port, Rakhine State, has been completed, but its depth will not currently accommodate an oil tanker scheduled to arrive in November when the port is opened, said a member of the Kyaukpyu Deep Sea Port Watchdog Committee on October 10. (more…)

The Singapore-listed Yoma Strategic Holdings Ltd and New York-listed Yum! Brands, Inc have announced the arrival of the first Kentucky Fried Chicken (KFC) restaurant in Myanmar set to open in 2015. (more…)

Myanmar’s Ministry of Hotels and Tourism plans to use an open process to retender the let of four Ministry owned hotels out to private entrepreneurs, an official of the hotel tender invitation committee told Mizzima on 13 October. (more…)

Rangoon Division’s Internal Revenue Department has completed its annual evaluation of real estate prices as part of its new property sales tax system, a department official said on Tuesday. (more…)

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…)

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