Myanmar’s best-known business house is joining up with multinationals

THE maroon hot-air balloons which carry tourists over Bagan—an ancient city teeming with crumbling red-brick temples—are famous in Myanmar. The fleet belongs to one of the country’s best-known tycoons. Since the pariah nation began to open up in 2011, Serge Pun has gradually transformed an empire built on property into a conglomerate with interests in […]

Taiyo Nippon Sanso to turn out industrial gases in Myanmar

TOKYO — Taiyo Nippon Sanso will begin producing industrial gases in Myanmar in 2018 as demand looks to expand. The gas producer will establish a local affiliate within the year and bring in equipment to operate a plant in the Yangon area, investing a total of 1 billion yen ($9.78 million). With Japanese companies increasingly setting up operations in Myanmar, Taiyo Nippon Sanso expects steady […]

Plastic chips away at cash’s dominance in Myanmar

YANGON — Credit cards are gaining traction in Myanmar, where cash has long been king, with foreign players such as China UnionPay and Japan’s JCB lured by rising consumer incomes and an increasingly robust financial infrastructure. JCB, in conjunction with Myanmar Payment Union and Ayeyarwady Bank, also known as Aya Bank, debuted a credit card Tuesday […]

With Sanctions Eased, US Sees Economic Potential in Myanmar

STATE DEPARTMENT — U.S. officials are looking to boost economic engagement with Myanmar, a country that has been dubbed by some as “the final frontier” because it is one of the last markets largely untouched by Western companies. The United States imposed heavy economic sanctions on Myanmar in 1997 over the ruling military junta’s repression […]

Big car opportunity in tiny Myanmar; can India drive home the advantage?

After half a century of isolation, Myanmar has finally opened up its market. It is a big country with a population of 51 million, strategically located between India, China and Thailand, with GDP growth of 8.7% in 2014—this growth is expected to be in a similar range until 2019. Since the formation of a new […]

From Dubai to Yangon, signs of Chinese wealth are everywhere

Seeking relief from a depreciating yuan, Chinese outbound investors have been on a roll lately, proposing jaw-dropping acquisitions in the commercial real estate sector in recent months from Dubai to Yangon and every investment haven in between. The speeds of capital deployment from the Middle Kingdom has been met with suspicion both at home and abroad. Determined […]

Boozy battle-ground: a turf war brews in Myanmar

At a beer station on Bogyoke Aung San Road, servers traipse from table to table, handing mugs of Myanmar Beer to cheroot-smoking men in longyis. Another beer station in Sanchaung township looks almost exactly the same, but with Dagon Beer decorations and brew dripping from the taps. All over Myanmar, domestic brands such as Myanmar […]

Dealmaking excitement builds over beers in newly opened Myanmar

YANGON (Bloomberg) – A scorching May day in Myanmar calls for beers and loosened neck ties. At newly opened Harry’s Bar in Yangon, investors talk opportunities over draft lagers, jalapeno steak sliders and fries. Several private equity types and company executives are gathered around Ms Jasmine Thazin Aung, an energetic and bubbly Yangon-based executive director at […]

US Investment in Burma Forecasted to Increase

RANGOON — US investment in Burma has strong potential to increase this year, experts said at a US-Burma Economic Relations seminar in Rangoon on Monday. Entitled “US-Burma Economic Relations: The Next Phase,” the seminar was jointly organized by the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) and the United States Chamber […]

Scottish firms in Myanmar oil and gas mission

A delegation of Scottish companies is heading to Myanmar this week in an effort to tap into opportunities in the country’s oil and gas sector. The visit comes after Myanmar opened up to international trade and investment following decades of military rule. The delegation includes temporary power company Aggreko and oil and gas firms Wood […]