Telenor Group reports second quarter results, Myanmar growth

The Norway-based Telenor Group has reported positive second quarter results including continued growth in its mobile phone outreach in Myanmar, a country in the throws of a communication revolution after decades of military regime rule. Telenor and Ooredoo are the two main players competing in the largely virgin Myanmar market, helping everyone from farmers, to […]

Myanmar plastics industry bound by lack of CMP licenses

Yangon, June 24 – the Myanmar Plastic Industries Association (MPIA) has voiced the Myanmar plastics industry would benefit from the issuing of Cut-Make-Packaging (CMP) licenses in the manner as has been supplied for the country’s garment factory industry. Myanmar plastic enterprises are currently confined to distribution solely within the domestic market. If domestically produce plastics […]

Myanmar targets $12 bn of garment exports by 2020

Myanmar’s garment industry has set an ambitious export revenue target of $12 billion and create around 1.5 million new jobs by 2020, the Myanmar Garment Entrepreneurs Association has announced. The industry has gained momentum since 2014 when its export earnings amounted to $1.5 million. By mid-2015, the industry created over 230,000 jobs. The local garment […]

UN Hails Myanmar’s Historic New Parliament

The UN has added its powerful voice of support for the dramatic leadership changes happening now at all levels in Myanmar’s government. When U.Thant of Burma (now Myanmar) was elected UN Secretary-General back in November 1962, he was the first Asian to hold that post after Trygve Lie of Norway and Dag Hammarskjold of Sweden. […]

Myanmar launches Thilawa industrial zone

THANLYIN, MYANMAR — Dignitaries from Myanmar and Japan on Wednesday launched the first phase of a huge industrial zone on the outskirts of Yangon, as the long-isolated nation pushes to rapidly accelerate its industrialisation. Housing everything from children’s toy manufacturing to a car assembly plant and a deep-sea port, the Thilawa Special Economic Zone (SEZ) […]

Thilawa interest coming from Japan

Over half of the 42 companies that have committed to building in Thilawa special economic zone are Japanese firms, according to U Myint Zaw, general manager of Myanmar Japan Thilawa Development. While there are currently no factories up and running at the site, construction is moving forward and some of the factories ought to be […]

DHSHD considers giving Yangon land ‘to communities’

As Yangon develops under the 2040 city plan, authorities are considering options to help ensure illegal residents are not forced out of their communities, according to Daw Hlaing Maw Oo, assistant director of the Department of Human Settlement and Housing Development (DHSHD). “We are considering many options for the relocation of squatters, with the help […]

Thilawa SEZ receives 40 firms from 11 countries

Myanmar’s attempts to become a manufacturing hub are likely to come true in a few years as 40 firms from 11 countries have so far signed an agreement to invest in its major special economic zone. Thilawa SEZ is still attractive to international firms as 83.4 per cent of its Phase I implementation was completed […]

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 […]

Foreign investment in Myanmar hits over 3 bln USD in first half of FY 2014-15

Foreign investment in Myanmar hits over 3 bln USD in first half of FY 2014-15 YANGON, Feb. 25 (Xinhua) — Foreign direct investment in Myanmar hit 3.676 billion U.S. dollars in the first half (April- September) of the fiscal year 2014-15, according to the Foreign Investment Commission Wednesday. The commission told the ongoing parliament that […]