Myanmar oil and gas: Going against the flow

For the first time since 2004, both the price Brent Crude and US crude have fallen below $30 a barrel. Many oil and gas production centres are floundering amidst the current crisis, yet one South East Asian nation is experiencing record growth in its energy sector. Over the past 24 months, significant foreign direct investment […]

US rate hike puts spotlight on importers

The US Federal Reserve raised interest rates for the first time since 2006 yesterday – an event long-feared by developing economies. Myanmar is better protected from the potential fallout than many, although the country’s reliance on imports leaves it exposed to a strengthening dollar. The Federal Reserve increased the Federal Funds rate – the rate […]

Foreign investment into lagging agriculture and fisheries sectors urgently needed: exporters

The next government should urgently seek investment in the country’s lagging and underfunded agricultural and fisheries sector, to help halt and reverse the decline in exports, traders said. Of the US$38.18 billion received in foreign investment over the past five years, a bare $208 million has been ploughed into agriculture, according to the Directorate of […]

Yangon hotelier with the Midas touch

International hotel chains have descended on Myanmar but that has not deterred one local chain, Clover Hotels Group, from aiming to open 15 hotels in 10 years. “Most of our hotels will be opened in Yangon but we hope to open at least one hotel in each of the major tourist destinations,” managing director Nay […]

Shwe Taung launches $300m project in downtown Yangon

Shwe Taung Group of Companies yesterday launched a mixed-use project worth US$300 million in the centre of Yangon, demonstrating that the local conglomerate has shaken off its controversial past to emerge as a viable partner in the eyes of many international investors. Junction City, designed by DP Architects from Singapore, will include a five-star hotel […]

Foreign businesses invited to invest in Myanmar’s SEZs

Nay Pyi Taw – The Myanmar Investment Commission (MIC) invited international investors to work in Myanmar’s three special economic zones – Thilawa, Dawei and Kyaukphyu – at the 11th Asean Business and Investment Summit on November 12. Aung Naing Oo, the secretary of the commission said, “We are inviting investors who are interested in Thilawa […]

Sittwe economic zone in limbo as international investors get cold feet

Plans for a proposed economic zone on the outskirts of Sittwe are in limbo, after international investors pulled out over sectarian violence in Rakhine and wider political concerns about Chinese businesses in Myanmar. In August 2013 the then-state minister for planning and economics U Mra Aung, told The Myanmar Times that a feasibility report was […]

Investors Invited to Develop Yangon Railway Station Complex

Myanmar’s rail transport authorities are working on a massive plan to transform the Yangon Central Railway Station into one of the city’s most sparkling new projects, and are inviting ideas and expression of interest from local and international investors for the move. The state-run Myanmar Railways said it intends the investors to undertake design-and-build work […]

Tourism and travel sector to continue upward trend

Myanmar’s travel and tourism sector is set to grow 9.5 percent in 2014 to reach K933 billion (US$971 million) as the number of international visitors to the country, especially from Asia, is expected to continue climbing, says a report published on March 19 by the London-based World Travel and Tourism Council (WTTC) research group. According […]

Thilawa SEZ price reductions aimed at property dealers

Plans to significantly reduce the price of land at the Thilawa Special Economic Zone are aimed as property dealers and will not harm to those already doing business. Win Aung, chairperson of the Thilawa SEZ Public Company, has announced plans to reduce land prices in the area by 30 percent to try and attract international […]