Military Officials, Cronies Released from US Blacklist

RANGOON — Burma’s former dictator Snr-Gen Than Shwe was among individuals removed from the US Treasury’s blacklist following the lifting of Burma sanctions on Friday. Another 16 senior military officials, including former Vice Snr-Gen Maung Aye, have been removed from the US Treasury’s Office of Foreign Asset’s Specially Designated Nationals and Blocked Persons (SDN) List. Apart from senior military officials, military-related businesses […]

Time to re-look your investment plan in Myanmar as Obama pledges to lift all remaining sanctions against Myanmar

President Obama this morning pledge that the US will lift all remaining sanction s against Myanmar after meeting Daw Aung San Suu Kyi at the Oval Office.   Currently the last remaining Myanmar tycoons on the SDN List are Steven Law of the Asia World Group U Zaw Zaw of the Max Myanmar Group U […]

Fourth telco talks hit sticking points

Myanmar’s fourth mobile operator should have applied for its licence by now, according to a proposed timeline released earlier this year by its joint-venture formation committee. But the parties involved – preferred foreign partner Viettel, government shareholder Star High Public Company Limited and local consortium Myanmar National Telecom Holding Public Limited – are still at the […]

Viettel picked for fourth telecoms tie-up with military partner

Hanoi-based telecoms operator Viettel has been granted the right to negotiate with a local consortium, including a military-run partner, with a view to receiving a minority stake in a company that is likely to be awarded Myanmar’s long-anticipated fourth telecoms licence. Viettel, which is owned by Vietnam’s defence ministry, was one of seven foreign companies […]

One more Myanmar int’l port terminal put into service in Yangon

One more Myanmar int’l port terminal put into service in Yangon YANGON, March 9 (Xinhua) — A newly-completed international port terminal in Myanmar’s Yangon has been put into service, according to the Myanmar Economic Corporation (MEC), which funded the project, on Monday. The newly-opened Ahlone International Port Terminal-1 is close to Yangon downtown area and […]

Questions Surround 4th Telecom License, After Military Firm Name Emerges

YANGON — A Ministry of Communications and Information Technology official has denied a report that a military-owned conglomerate has been selected to become Myanmar’s fourth telecom operator, after a state-owned newspaper this week announced that the conglomerate was awarded a mobile phone license. The Mirror, a Burmese-language government mouthpiece, mentioned in an article on Thursday […]

Foreign companies show growing interest in Thilawa SEZ

A total of 45 companies from 11 countries – including Japan and the United States – have submitted proposals to invest in the Thilawa Special Economic Zone (SEZ), a major industrial complex located on the outskirts of Yangon. More than 17,000 intended subscribers offered to buy a total of more than 4 million shares, at […]

Myanmar commissions country’s first tire plant

Myanmar Economic Corp., an enterprise tied to Myanmar’s military complex, has commissioned production at the country’s first tire factory. The plant, under construction in Yangon City since late 2010, will have capacity for radial passenger and truck/bus tires along with other miscellaneous bias tires, inner tubes, liners and bladders, according to Chinese tire machinery manufacturer […]

Myanmar military backed MecTel To Compete With Telenor And Ooredoo

Ooredoo and Telenor, two foreign companies that won the lucrative telecom licenses in Myanmar, may face tough competition from a little-discussed domestic Myanmar company jointly owned by the army-backed Myanmar Economic Corporation (MEC) and the state-backed Myanmar Posts and Telecommunication (MPT). “It is planned to grant licenses to two local operators — Myanmar Posts and […]

Myanmar ready to sweeten terms for foreign brewers

The Myanmar government is prepared to relax limits on foreign ownership of breweries on a case-by-case basis, as it seeks to improve the appeal of the country to foreign investors, says a senior beer industry executive. The Myanmar Investment Commission (MIC) offered four licences in January for international breweries to operate domestically. Under the Foreign […]