Parliament passes condominium law

Mired in legislative gridlock until the dying days of the outgoing government, the condominium law finally squeaked through parliament on January 22 after years of back-and-forth argument between the upper and lower houses. The president still has to approve the law, but in principle foreigners will now have the right to buy up to 40 […]

Foreign traders attend first pearl sale

Foreign merchants have been invited to attend a pearl sale in Nay Pyi Daw for the first time, as Myanmar becomes better known in the international pearl market. The 34th pearl sale is being held at the Mani Yadana Gems Hall from December 22 to 24, with Chinese and Japanese traders rubbing shoulders with local […]

Police to Beef Up Security for Foreign Buyers at Jade Expo

Myanmar Police Force will arrange special security for foreign gems buyers at the upcoming Myanma Gems Emporium at Nay Pyi Taw, U Kyaw Htay, secretary of Gems Entrepreneurs Association, said. The authorities will deploy a special tourist police force unit, which will also provide health services and other assistances to foreign gems buyers, he said. […]

Gap’s entry to Myanmar could bring more good tidings, MGMA says

Gap’s entry into Myanmar could attract more foreign buyers into the fledgling garment industry, thus improving work conditions and increasing employment for workers, the chairman of Myanmar Garment Manufacturers Association (MGMA) said on Monday. Retail giant Gap Inc announced on Saturday that they have started sourcing products from two South Korean-owned factories in Yangon, making […]

Wood Factories in Burma to Beat 2014 Log Export Ban

With a ban on log exports set for next year, foreign buyers of Burmese teak and other rare woods are looking to open timber processing facilities inside Burma. A new law coming into force on April 1 will prohibit the export of all raw tree logs, but it will not stop firms from processing timber […]