National Reconciliation Key in Myanmar’s Development: ADB

While most of the Japanese people are enjoying five days of Golden Week holidays, areas around Pacifico Yokohama have been busy with people from around the world on business. More than 3000 people from across the globe have been busy attending seminars and meetings on the 50th annual meeting of the Asian Development Bank (ADB). […]

Unilever forms Myanmar JV for home and personal care products

May 4 (Reuters) – Consumer goods maker Unilever signed a joint venture deal with Myanmar’s Europe and Asia Commercial Co Ltd (EAC), combining their home and personal care businesses to accelerate sales in a newly emerging market. The joint entity, with annual sales of more than 100 million euros ($109 million), will provide both companies […]

Myanmar Joins South Asian Bloc Focussed on Transport, Energy

Myanmar has joined a regional partnership aimed at improving trade links between Southeast Asia and South Asia. The move makes Myanmar the seventh member of the South Asia Sub-regional Economic Cooperation (SASEC) group, which is supported by the Asian Development Bank. The group’s key aims are to promote cross border trade in energy, to improve […]

Yangon Power Company Readies Budget for System Improvements

The Yangon Electricity Supply Corp (YESC) will spend Ks 17,618.473 million on power distribution in fiscal 2017-18. The regional government will implement the projects with loans from the Asian Development Bank, the World Bank and the Japanese International Cooperation Agency. In an bid to upgrade the power distribution system, YESC will carry out the construction […]

Waiting for Grid to Arrive, Myanmar Villages Switch on Solar

NYAUNG KONE, Myanmar, March 29 (Thomson Reuters Foundation) – For generations, residents of this farming village in central Myanmar had a set rhythm to their day – waking up with the sunrise and going to sleep after dark. Diesel generators and batteries were for the privileged few, while the candles used by most were a […]

British Trade Mission Targets ASEAN Integration

The UK Department of International Trade (DIT) is leading a trade mission to Southeast Asia and the delegation will visit Myanmar on March 30 and 31. The trade mission focuses on infrastructure, energy and education. Before coming to Myanmar, the trade mission to Asian Development Bank (ADB) and Southeast Asia has met with the ADB at […]

Myanmar surpasses FDI target of $6 bn in fiscal year 2016-17

“We have approved 135 foreign businesses according to the Foreign Investment Law during this fiscal year,” he said this week. “Meanwhile, we have approved FDI inflows of $262.59 million in the Thilawa Special Economic Zone, according to our SEZ Law. In total, we could approve $6.87 billion [Bt240 billion] this year.” Aung Naing Oo is […]

ADB moves in Myanmar as trade finance hopes grow

Hopes of opening the Myanmar trade finance sector are growing, after the Asian Development Bank (ADB) issued its first guarantee in the country. As part of its Trade Finance Programme (TFP), the ADB guaranteed a letter of credit issued by Banca Popolare di Sondrio of Italy to local lender United Amara Bank (UAB), one of […]

China-led AIIB plans to limit investment in coal power

In a bid to live up to its environmentally friendly values, the Asian Infrastructure Investment Bank (AIIB) is planning to adopt strict limits to investment in coal power. Launched by China as a “lean, clean and green” lender to invest in infrastructure projects in Asia, the AIIB opened for business a year ago with 57 […]

ADB Urges Myanmar to Fix Big Infra Gap

​​ EVEN THOUGH Myanmar is at a critical juncture politically, socially and economically, it has a substantial infrastructure gap that needs to be tackled as a priority, said Winfried Wicklein, Asian Development Bank’s country director in Myanmar. “I think it is important to start the development quickly to get some early runs on the board. […]