Indonesia’s SOEs Minister encourages Pertamina to expand business abroad

The State Owned Enterprises (SOEs) Minister has encouraged state-owned oil and gas giant Pertamina to expand its fuel business to neighboring countries such as Thailand, Vietnam and especially to Myanmar, where Pertamina have been urged to operate gas stations by 2018. “With their prime-service in the gas station business, Pertamina must be able to compete […]

British lend a hand on governance

The United Kingdom aims to assist with developing corporate governance standards, holding a workshop at Yangon business association UMFCCI’s headquarters from November 18 to 20. UK Ambassador Andrew Patrick said at the meeting’s launch that Myanmar is the fastest-growing economy in region, spurred on by its economic reforms, though he added that challenges remain. Improvement […]

China tops investor list

China is the top investor in Myanmar so far this year, according to the Directorate of Investment and Company Administration. Until the end of October, total foreign investments exceeded US$50 billion, of which US$40 billion is operating in the country. Myanmar Investment Commission (MIC) is giving the green light to local and foreign companies in […]

Local company proposes lease of Coco Islands for Island Resort

A local company has submitted a proposal to government to lease out the Coco Islands for fifty years according to an official from the Yangon Regional Government. Located in the northeastern Indian Ocean, the Coco Islands is part of the Andaman archipelago and are abundant in natural resources which still remain unexploited. “A local company […]