Ex-Samsung executive named ambassador to Myanmar

SEOUL, May 23 (Yonhap) — South Korea on Monday named a veteran Samsung salesman as ambassador to Myanmar in a clear move to secure new business opportunities abroad. The Foreign Ministry said it appointed Yoo Jae-kyung as Seoul’s new top envoy to Naypyidaw in a minor reshuffle that also involved the appointment of a new […]

Myanmar’s Mr Clean says he takes ‘red tape road’ to profit

Scaffolding around the 139-year old Burma Railway Headquarters, a red-brick colonial relic at the center of a half billion dollar property development in central Yangon, hasn’t seen much action since the project was announced four years ago. Serge Pun, the 63-year-old project developer and one of Myanmar’s richest men, says his Landmark development – which […]

Foreign firms eye new Myanmar telecoms licence despite inexperienced partners

Jan 25 Seven foreign firms are interested in bidding for Myanmar’s fourth telecoms license, a government official said on Monday, as the prospects of one of the region’s least connected nations outweigh the challenges of a partnership involving obscure local firms with scant industry experience. Chit Wai, deputy permanent secretary of the Ministry of Communications […]

U.S. temporarily lifts trade restrictions on Myanmar shipping hubs

The United States is temporarily easing trade restrictions on Myanmar by allowing all shipments to go through its ports and airports for six months, an effort to boost the Southeast Asian country’s opposition party after its landmark election win in November, U.S. officials said on Monday. The policy change, coming after Aung San Suu Kyi’s […]

U.S. Plans to Ease Myanmar Trade Sanctions

The U.S. Treasury Department is preparing to make it easier for American companies to do business through a port in Myanmar that is owned by a sanctioned company whose reclusive owner has close ties to the ruling military junta. Since July, U.S. banks have been wary of processing payments for trade through the main port […]

Burmese Tycoon Tay Za Under Scrutiny

By Jared Ferrie Myanmar tycoon Tay Za leans back and fulminates against the U.S. government as a playful pet bear cub scrambles up his alligator-skin chair. “They are world police,” he says, complaining that U.S. sanctions are stifling his businesses and officials are scrutinizing his every transaction. As Tay Za speaks, attentive staff intervene occasionally […]