Vietnamese Telecom Viettel to Invest $2bn in Myanmar Over Five Years

VIETTEL, Viet Nam’s largest mobile network operator, is expected to make US$2 billion investment in Myanmar’s telecom sector within five years, with plans to launch its service business next year, it is learnt. The Vietnamese group operates in ten countries in Asia, Africa and America, and will provide its telecommunications services for Myanmar people in […]

Myanmar-Korea textile zone to create 60,000 jobs

A five-hundred acre textile factory zone, which will reportedly create 60,000 employment opportunities for Myanmar workers, is reportedly to come to fruition through the concerted efforts of Myanmar and Korean business groups. The Myanmar Olympus Asia Developer Group and the Korean PANKO Corporation will be responsible for implementing the project which will see the production […]

Over 40 tonnes of coffee to be exported to Taipei and South Korea

Over 40 tonnes of coffee produced from Ywar Ngan Township are to be exported to Taipei and South Korea, according to the Ywar Ngan Coffee Association. The coffee received 87 out of 100 marks for it’s quality, color, fragrance and taste. “Currently, 18 tonnes has been exported to Taipei. Samples of coffee have been already […]

CMP garment industry eyes US, Canadian and Russian markets

Myanmar garment factories with Cutting-Making and Packing (CMP) systems plan to expand their markets to America, Canada and Russia, said an official from Myanmar Garments Entrepreneurs’ Association. Myanmar’s main markets currently are Japan, South Korea and the EU Myanmar is making a concerted effort to boost its export products focusing mainly on its garment and […]

Myanmar coffee set for sale in America

MYANMAR Special Arabica coffee cultivated in townships of Shan State and Pyin-Oo-Lwin in Mandalay Region will be first exported to America, according to the Myanmar Coffee Association (MCA). In April, a container load of coffee was exported to Switzerland, allowing the exporters to earn US$ 3,800-4,000 per tonne. Winrock International helped Myanmar coffee to meet […]

Myanmar targets $12 bn of garment exports by 2020

Myanmar’s garment industry has set an ambitious export revenue target of $12 billion and create around 1.5 million new jobs by 2020, the Myanmar Garment Entrepreneurs Association has announced. The industry has gained momentum since 2014 when its export earnings amounted to $1.5 million. By mid-2015, the industry created over 230,000 jobs. The local garment […]

Thant Myint-U: ‘The Number One Challenge is De-Isolation’

RANGOON — With a new government still almost six weeks from taking power, The Irrawaddy’s founding editor-in-chief Aung Zaw speaks with author and founder of the Yangon Heritage Trust Thant Myint-U on the country’s challenges and economic outlook, the peace process and relations with China. Following is an edited transcript of a longer interview, which […]

Shifting to Chinese cars

Hoping to wean drivers off second-hand Japanese cars, LS Auto signed a deal on January 18 to import vehicles from China’s Guangzhou Automobile Group, GAC Motor, starting in March. The deal could open the door for GAC to produce vehicles in Myanmar. “[GAC] is based in China, but 70 percent of the parts are produced […]

Number of tourists visiting Mandalay rises by 26%

The number of tourists visiting Mandalay, the second largest city in the country, was 242,566 in 2014 and it rose to 306,432 in 2015 which is a 26% increase, the Mandalay Hotel and Tourism Department said on 9 January. Most of the tourists were from China, Thailand, France, Germany and the United States of America. […]

Pearl Production Set to Double

Four new companies are set to get pearl production licences while the industry estimates that production will double in the coming years, according to state-run Myanmar Pearl Enterprise (MPE). Four local-foreign joint venture companies and four local companies are currently operating in Myanmar. Regular buyers in Myanmar pearl auctions are from Hong Kong, China, America, […]