Myanmar welcomes US move to ease more sanctions

YANGON – A US decision to pare back economic sanctions on Myanmar could unclog investment as the country claws its way out of poverty, Aung San Suu Kyi’s civilian government said Wednesday, welcoming the move. Suu Kyi’s party took power in March after clinching a majority at last year’s election, the freest in generations for […]

Capital Diamond Star Group seeks to raise profile, enter regional markets

Capital Diamond Star Group has kept a low profile for most of its history; at least as much as is possible for a company of 7000 employees and some of Myanmar’s major brands to stay out of the limelight. Beginning as a humble agriculture trading company in Mandalay in the 1960s, it has expanded to […]

Ford opens showroom in the second city

Ford vehicles are now on sale in Mandalay, as the automaker has opened a showroom and service centre in the country’s second-largest city, according to a press statement yesterday. The Dearborn, United States-based automaker opened its first Myanmar showroom in Yangon two years ago, partnering with Capital Automotive, a part of local conglomerate Capital Diamond […]

KFC spreads its wings in Myanmar

Yangon – Kentucky Fried Chicken (KFC) is poised to become the first major US fast food retailer in Myanmar, the company’s local business partner announced on Tuesday, as the long-isolated nation braces for an influx of international food outlets. The fried chicken retailer, one of the world’s largest restaurant chains, plans to open its first […]

Yangon garment workers protest for better pay, conditions

More than 2,000 workers from four garment factories in Shwepyithar Township in Yangon marched on the streets in their township to call for salary increases and better working conditions on February 9. Activists supporting the welfare of the workers said they will intensify their sit-in protests if employers fail to agree to the demands of […]

Myanmar Car Market: rushing in, but risks abound

“Sixty million people falling out of the sky – you’re not going to see that again in our generation,” quoted The Irrawaddy describing business opportunities in Myanmar. Investors including carmakers have been rushing to tap those opportunities. Nissan and Mercedes-Benz are the latest global OEMs to join Suzuki, Mitsubishi, Toyota, Ford, GM, Kia and Hyundai, […]

Nissan and Mercedes race to enter the Myanmar market

Competition among global automakers to establish their brands in Myanmar is intensifying with Nissan and Mercedes joining the race to take advantage of the market’s long-term growth prospects. Although used cars currently comprise up to 99 percent of annual domestic sales, industry insiders say automakers are staking out territory with an eye to future market […]

U.S. Companies Investing in Myanmar Must Show Steps to Respect Human Rights

WASHINGTON — When the Obama administration lifted economic sanctions on Myanmar last year, encouraging American investments after decades of treating the nation as a pariah, it did so with a significant caveat. President U Thein Sein of Myanmar in the Oval Office in May, where he met with President Obama. For the first time, effective […]

Ford is First to Enter Burma’s Growing, Volatile Car Market

Ford Motor Company announced on Tuesday that it will open an official dealership in Rangoon this year, becoming the first international carmaker to distribute new vehicles on the Burmese market, which until recently remained closed off due to international sanctions. Ford executives said Burma’s auto market, although still small, holds great promise for future sales […]