CMP garment industry eyes US, Canadian and Russian markets

Myanmar garment factories with Cutting-Making and Packing (CMP) systems plan to expand their markets to America, Canada and Russia, said an official from Myanmar Garments Entrepreneurs’ Association. Myanmar’s main markets currently are Japan, South Korea and the EU Myanmar is making a concerted effort to boost its export products focusing mainly on its garment and […]

Myanmar urged to address electricity loss

Myanmar’s electricity authorities need to pay more attention to transmission line maintenance to reduce frequent blackouts, experts said last week. “Technical losses need to be urgently addressed and 100-per- cent electrification is crucial to the nation’s growth,” said Andrew Lee, manager of General Electric Myanmar. Electricity would help Myanmar move forward, but frequent blackouts due […]

Russia and Myanmar to establish working body for nuclear technology

Russia and Myanmar will establish a working body this year for using nuclear technology, Russian officials said at an exhibition and forum in Moscow last week. The two countries signed a memorandum of understanding to cooperate in nuclear technology for peaceful purposes in June 2015. This was the first step to building a legal foundation […]

Targeted Myanmar tycoon may profit from US sanctions changes

YANGON, May 18 (Reuters) – Standing among the party seeing off Myanmar’s new president as he left for Russia on Wednesday was leading businessman Htun Myint Naing, better known as Steven Law. Only the day before, the United States had added six of his companies to the Treasury’s blacklist, a move that is unlikely to […]

Boldly going: the exotic ‘frontier’ markets that intrepid investors are tipping for take-off

It was 15 years ago that academics began to predict a shift in economic power from the old order of developed economies to the newly named “Bric” nations. Ever since, Brazil, Russia, India and China have been regarded as the coming powers, blessed with young populations, fast-urbanising societies and natural resources to fuel rapid growth. But the Bric […]

Can Myanmar’s Natural Gas riches reel in serious investment?

After five decades of oil and gas exploration stagnation and mismanagement of natural resources under military rule, Myanmar (formerly Burma) in March elected its first non-military president since the 1962 coup, and if it all plays out right, it could open the floodgates for investment in this strategically vital oil and gas venue. On 15 […]

Myanmar no longer the “sick man” of ASEAN – the honour now goes to…’

A sideshow that went unnoticed during the recent United States-Asean summit in southern California was Thailand’s standing in the pecking order of leaders on both sides of the Pacific. In years past, Myanmar – formerly Burma – was the sick member of Asean when the 10-member grouping held top-level meetings with American and European counterparts. […]

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 […]

Russia’s Bashneft latest to deal in Myanmar

NAYPYITAW, Myanmar, Aug. 11 (UPI) — Russian oil company Bashneft announced Monday it secured the rights to serve as the operator at an exploration program in central Myanmar. The oil company said it signed a production sharing contract to develop an oil basin alongside Myanmar Oil and Gas Enterprise at a ceremony in Naypyitaw, the […]

Russia, Myanmar Sign $38-m Deal on Oil Survey Wells

Bashneft International BV, a subsidiary of Russia’s largest producer of oil products Bashneft, has signed an agreement with state-run Myanmar Oil and Gas Enterprise (MOGE) for the distribution of the Block EP-4 oil well, the firm said. Bashneft International BV is the operator of the project, holding a 90 percent stake, while Sun Apex Holdings […]