Myanmar to Curb Some Investor Incentives, Presidential Aide Says

Myanmar’s parliament is likely to meet before the end of the year to approve legislation that would scale back a number of foreign-investment incentives the government now deems excessive, President Thein Sein’s top economic adviser said. Parliament, which is in recess as lawmakers campaign for Nov. 8 elections, will probably reconvene by early December, Aung […]

For businesses in Myanmar, the promise is unfulfilled

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. A banana-shaped arc of young volcanic rock curves through the Southwest Pacific, and its gold deposits have fed rich […]

Myanmar to pursue sustainable garment sector

Myanmar is projected by Asian Development Bank to be a middle-income country by 2030 as the country’s political and economic arenas undergo reforms to meet new challenges, said Aung Tun Thet, economic adviser to President Thein Sein at a seminar titled “Sustainable Development of Asia’s Garment and Textile Industry” in Yangon. The seminar was sponsored […]

EU launches EuroChamber in Myanmar, in big step to closer ties

European firms are expected to bring with them three things – finance, technology, and management, said the presidential economic adviser to welcome the launch of European Chamber of Commerce on Friday. “We need finance. We hope good European companies will come. Global brand names will come. We also hope the European companies will give us […]

Burmese Govt Urges Foreign Investors to ‘Take the Plunge’

RANGOON — Despite lingering infrastructure problems such as the country’s poor roads and patchy power supply, Burma’s government wants foreign businesses to be less cagey about investing in the much-touted frontier economy. Aung Tun Thet, an economics advisor to President Thein Sein, implored would-be investors on Monday to “please take a risk, please take the […]

Property prices ‘to rise for a few more years’

Presidential adviser U Aung Tun Thet sees no property bubble and predicts daily ‘flipping’ will occur There is no bubble in the property market and prices of land will continue to rise for the next few years, presidential adviser U Aung Tun Thet told a seminar to mark the first anniversary of the Myanmar Real […]