Myanmar-Korea textile zone to create 60,000 jobs

A five-hundred acre textile factory zone, which will reportedly create 60,000 employment opportunities for Myanmar workers, is reportedly to come to fruition through the concerted efforts of Myanmar and Korean business groups. The Myanmar Olympus Asia Developer Group and the Korean PANKO Corporation will be responsible for implementing the project which will see the production […]

Myanmar’s Aung San Suu Kyi to Meet With Migrant Workers in Thailand

Myanmar State Counselor Aung San Suu Kyi will meet with about 3,000 migrants from her country who work in neighboring Thailand to discuss their concerns about their status and risks during a three-day state visit that begins on Thursday, said the head of an activist organization that advocates for migrant workers. Aung San Suu Kui, […]

MPU and KEB Hana Card sign MoU

THE Myanmar Payment Union (MPU) and South Korean KEB Hana Card signed a memorandum of understanding (MoU) to jointly conduct payment services in Myanmar. According to the MoU, MPU Card users will have access to the services of KEB Hana Card and South Korean businessmen will also receive the financial service from local banks. Members […]

Japan’s participation in Thai-Myanmar Dawei economic zone to boost confidence in project

The official participation of Japan in a special economic zone in southeastern Myanmar initiated by Myanmar and Thailand will bring confidence and attract investors to the project, the Thai delegation said Monday after a trilateral meeting here. Thai Transport Minister Arkom Termpittayapaisith told a press conference that following Japan’s decision earlier this year to participate […]

Telenor signs agreement with Malaysian towers company

Telenor Myanmar has signed a memorandum of understanding with Malaysia telecoms service provider OCK Group and its local Myanmar partner, King Royal Technologies, the Shah Alam-based company announced last week. The agreement, which is for building and leasing towers, adds another firm to Telenor’s inventory of infrastructure providers. OCK Group subsidiary OCK Yangon – set […]

Keeping the FDI spigot flowing in Myanmar

After emerging from nearly half a century of economic isolation, Myanmar has become an investment darling thanks to reforms launched by military leaders four years ago. The surge in foreign direct investment (FDI) has been substantial despite restrictions remaining in some sectors and uncertainties surrounding the upcoming general election. Even though some investors have adopted […]

Yangon stock exchange risks opening under US sanctions

Myanmar’s first modern stock exchange risks falling under sanctions by the US Treasury when it eventually launches this year. The Yangon Stock Exchange is not designated specifically by the Department of Treasury’s Office of Foreign Assets Control (OFAC). However US officials have clarified that under US law it would be automatically sanctioned, as it is […]

Oxford University Strengthens Ties in Myanmar

YANGON — Less than one year after reopening its doors to undergraduates, Myanmar’s most prominent institution of higher education is strengthening ties with the University of Oxford in England, where opposition leader Aung San Suu Kyi studied in the 1960s and earned an honorary degree in 2012. The renowned British university signed a Memorandum of […]

Japan to become catalyst for Myanmar stock exchange project

TOKYO — Japan Exchange Group and Daiwa Securities Group will invest several billion yen in a stock exchange being planned in Myanmar, providing broad support for creating capital markets in that country. The duo is working with the Myanmar government to set up an operating company as early as June. It will help the country […]

Plans for Coal-Fired Power Plant Face Opposition in Mon State

YANGON — Plans to build the first coal-fired power plant in Mon State have come under fire by local residents, who say they worry about pollution and potential health ramifications. The Thai-based Toyo-Thai Group held a consultation meeting on Friday with local residents to explain plans to build a 1,280 MW power plant in Inn […]