Illegal Myanmar Teak Importation Widespread to EU, Investigation Finds

The Environmental Investigation Agency (EIA) released allegations Tuesday about what it says is the illegal importation of Burmese teak from Myanmar to the EU. In a two-month undercover investigation, staff from EIA, a UK-based campaigning organization, posed as prospective buyers and approached nine importers working in five EU countries. In a brief, the organization reports […]

Yangon airport T1 gets first foreign tenant

Yangon International Airport’s shiny new terminal has been almost empty since it opened in March – hosting only the country’s flag carrier Myanmar National Airlines. But space and facilities are becoming increasingly important for the raft of foreign firms aiming to add Myanmar routes, and the first international airlines are starting to move in. The […]

Kirin adding Ichiban beer to store shelves in Myanmar

TOKYO — Kirin Holdings will sell its signature beer Ichiban to Myanmar consumers starting this month. The Japanese company has offered Ichiban as draft beer in upscale restaurants in the country, but will now target households directly by selling retail versions. Kirin will produce canned and bottled Ichiban with Myanmar Brewery, the country’s market leader, which it […]

Gas turbine in Thilawa SEZ to distribute power starting in May

THE construction of a natural gas turbine in the Thilawa Special Economic Zone (SEZ) is over 89 per cent complete. The gas turbine is expected to distribute power starting in May. “A power supply of 20 megawatts was received from the government. A 50-megawatt gas plant has been built with the assistance of a JICA […]

KLM considers Yangon flight

KLM Royal Dutch Airlines may launch a direct flight between Amsterdam and Yangon, early next year, based on an anticipated increase in tourists from the Netherlands. Myanmar Business Today quoted an official at the Department of Civil Aviation that claimed KLM, which is owned by the Air France group, would introduce a three weekly service […]

Russian firms eye energy cooperation in Myanmar as nations strengthen ties

Oil and gas exploration is forming the backbone of a renewed drive to develop economic relations between the long-term allies. Russia’s refusal to back EU sanctions against Myanmar and the use of its United Nations Security Council veto to help the country when it was still under the tight grip of a military dictatorship, has […]

EU investments set to surge after protection deal

Investments from the European Union member countries are likely to surge after signing of the EU-Myanmar investment protection agreement, said a senior EU official. Antonio Berenguer, EU’s head of trade and economic affairs, said that the agreement would encourage investment from Europe by improving legal certainty and predictability surrounding investments. “This agreement aims to provide […]

Nestlé looks to commit to Myanmar market

Swiss food giant Nestlé SA has confirmed that it is preparing to invest around US$50 million in Myanmar’s food and beverage industry over the next six years, in the latest sign yet of the Myanmar consumer market’s attractiveness to international firms. A statement from the President’s Office issued on September 8 said that the investment […]

Govt allows 707 foreign firms to operate in Myanmar

Foreign firms are flooding into Myanmar, and according to the Directorate of Investment and Companies Administration, through the end of April 2014, there are 707 foreign companies that have been allowed to operate in the country. Approximately 116 of those are being run by firms based in Singapore. Foreign countries which have invested in Myanmar […]