Myanmar sells $3bn in gems

Myanmar’s annual gem emporium took in more than $3 billion this year, the most ever for the country’s annual sale of gems and jade, organizers said Tuesday. Income reached $3.4 billion and saw the successful auction of 6,007 of 7,454 jade lots, 126 out of 436 gem lots and 224 of the total 342 pearl […]

Thilawa impact studies will be released in full

The environmental and social assessments conducted for phase two of the Thilawa Special Economic Zone will be made available to the public in their entirety, said reps from the Japanese and Myanmar companies tasked with the project. ERM-Environmental Resources Management (Japan) Limited and Myanmar’s E-Guard Environmental Services Co made the promise to residents at an […]

ADB tackles a banking barrier to trade

The Asian Development Bank (ADB) moved to ease international business money transfers from Myanmar by guaranteeing Letter of Credit transfers from CB Bank, CB managing director U Pe Myint said. A Letter of Credit from a bank guarantees the seller will receive a payment from the buyer on time, with the bank responsible if the […]

Investors waiting to bid as Kyaukphyu SEZ masterplan gets underway

Would be investors in the Kyaukpyu Special Economic Zone in Rakhine State are awaiting invitations to tender, but no date has yet been set for the issuance of invitations as experts work on a master plan for the zone. A consortium of consulting firms selected to develop the master plan and manage the tender process […]

Myanmar’s Logging Export Ban Aims to Protect Shrinking Forests

YANGON — Myanmar’s more than $6 billion trade in illegal timber has continued despite attempts to limit logging, according to a new report released by the London-based Environmental Investigation Agency (EIA) and a logging export ban set to begin April 1 may not be enough to save the country’s shrinking forests. According to official figures, […]

Singapore Consortium Wins $2.5-m Kyaukphyu SEZ Consultancy Deal

Singapore-based consortium Creative Professional Groups (CPG) has won a tender bid to get selected as the consultant firm for the Kyaukphyu Special Economic Zone (SEZ) in Myanmar’s southeastern Rakhine state. CPG came out on top out of a total 17 companies that bid for the tender worth $2.5 million, while Netherland-based KPMG was selected as […]

Myanmar rice companies benefit from Thai expertise

Thai rice companies are now exploring new joint venture opportunities with their Myanmar counterparts — the goal is to leverage on the untapped potential that Myanmar offers as a rice exporter. Myanmar was once the world’s top rice exporter, before military rule. YANGON: Rice in Myanmar is not just a staple food for its people, […]