Myanmar’s Strongest Ethnic Armed Group Says Drug Label ‘Not Fair’

PANGSAN, Myanmar: Myanmar’s most powerful ethnic armed group, accused by the United States of running a narco-empire that has flooded Asia with illegal drugs, has rejected the allegation, saying Washington has blacklisted its leaders for political reasons. The United Wa State Army (UWSA) boasts some 30,000 soldiers who control a secretive, China-dominated statelet the size of Belgium in the remote hills on Myanmar’s eastern border. After decades of […]

Local firm plans Daewoo bus factory in Yangon

Myanmar Coach Centre, the local distributor for Daewoo buses, plans to build a factory in Yangon that could start producing coaches and city buses by 2018, its managing director said. The company, which sells minibuses and coaches for tours, imported 15 Daewoo city buses earlier this year for Yangon’s Bus Rapid Transport (BRT) system, the […]

Taiwan and EU cease buying Myanmar green peas

TAIWAN and the EU have stopped buying Myanmar green peas due to their finding the remnants of insecticides inside the product, it has been learned from merchants of beans and pulses. “We exported the green peas only after testing them at the government’s recognised laboratories. Taiwan and the EU, however, have complained that they found […]

Jade Sales Drop Significantly at Govt Emporium

RANGOON — Sales of raw jade at the government-run biannual Gems Emporium in Naypyidaw have been markedly lower than in previous years. Organizers have pointed to slowing Chinese demand as well as a government policy to limit sales of raw jade as a means of boosting value-added jade processing in Burma. Previously, Chinese traders would […]

Myanmar’s coffee growers bank on specialty niche

MANDALAY, Myanmar — When Tin Win Win opened Fuji Coffee House and Restaurant in Yangon in 1996, she had to make special trips abroad to source quality coffee beans. “She used to hand carry back Brazilian and African beans and process them with a mini-roaster,” recalled her son, Thu Zaw, who now heads the family’s […]

Singapore is leading investor in Myanmar’s Thilawa economic zone

YANGON – Singapore is the top investor so far in a huge industrial zone on the outskirts of Yangon, the Eleven Media Group reported, citing the country’s Directorate of Investment and Company Administration. Housing everything from children’s toy manufacturing to a car assembly plant and a deep sea port, the US$1.5 billion (S$2 billion) Thilawa […]

MV TV chief focuses on overseas business, eyes opportunity in Laos, Myanmar

AFTER THE failure to strike a deal with Thai TV Co to run a digital free-to-air MVTV Family channel last year, MV Television (Thailand) appeared to stay away from the spotlight. In the first media interview given since then, Chaiyut Tavipvoradech, president of MV Television (Thailand), reveals his new milestones now that the company’s stronghold […]

Bangkok Bank reveals challenges of operating in Myanmar

AFTER A YEAR of operating a branch in Myanmar, Bangkok Bank says it has learned that it has to put more effort into doing business there than in other countries because the long isolation of Myanmar in the past means there are few examples of how foreign companies there resolve problems. BBL had operated a […]

Frontier Markets: Myanmar, Explosive GDP Growth

The reason I’m revisiting Myanmar is because recently the State Bank of India (SBIN), together with the Vietnam Bank for Investment and Development, Taiwan’s E SUN Commercial Bank (2884:TT), and South Korea’s Shinhan Bank, were all granted permits to operate in that country. Last year, the first round of permits were granted to ANZ Banking […]

Myanmar grants operating licenses to four more Asian banks

YANGON – Myanmar has granted operating licenses to four Asian banks, bringing to 13 the number of foreign banks allowed to conduct business in the previously isolated country. Bank for Investment and Development of Vietnam, State Bank of India, Taiwan’s Sun Commercial Bank and South Korea’s Shinhan Bank were granted preliminary licenses, Myanmar’s Foreign Bank […]