Myanmar President Calls for Reform of Nation’s Military-Drafted Constitution

YANGON (Reuters) – Myanmar’s civilian president called in an Independence Day speech on Thursday for reform of a military-drafted constitution and for justice for all recognized minorities under a federal system, but made no mention of the treatment of its Rohingya Muslim people. Amending the charter to remove a dominant political role for the military […]

Kubota to Join $92 Million Project to Improve Water Supply System in Yangon

YANGON – Farming and construction equipment manufacturer Kubota Corp. has said it will build water supply infrastructure in Myanmar’s commercial capital of Yangon together with other Japanese and South Korean partners, to meet growing industrial and household demand for clean water in line with the Southeast Asian country’s economic development. The company, which also provides water […]

Myanmar to Delay Law That Would Have Allowed More Foreign Investment

YANGON (Reuters) – Myanmar will delay a long-awaited reform that would open the door further to foreign investment, two officials told Reuters, a move likely to disappoint cash-starved businesses amid growing doubts over the management of the economy by the country’s leader, Aung San Suu Kyi. The postponement of the corporate reform, which would have […]

Myanmar eases investment rules amid Bengali headwinds

YANGON — A new company law has come into effect in Myanmar to encourage investment by foreign companies in the Southeast Asian nation. The new law, which has drastically revised the old company law put into force in 1914 when the country was under British rule, permits companies whose ownership by foreigners does not exceed […]

Golden Myanmar Business Exchange Plans $5 Million Data Center

GMBX, which bills itself as Myanmar’s only provider of wholesale infrastructure-as-a-service based on OpenStack, is a joint venture between Yangon-based Golden TMH Telecom Co Ltd (GTMH) and Golden 11 Investment International. The company already operates a data center in East Dagon with a current capacity of 100 racks, which could be expanded to about 400 racks, according to Kyaw Naing, […]

Myanmar Goes Ringside at China-India Bout

‘China will go all out to help Myanmar in time of crisis. India will also help Myanmar, but it does not go all out,” was the light-hearted comment made by a seasoned Asean diplomat based in Yangon recently. He was referring to the behaviour of Myanmar’s two powerful neighbours these past months, which is providing […]

Businesses Are Still Investing Billions in Refugee Crisis-Hit Myanmar

As the U.S. and Europe grow increasingly outraged over the Rohingya refugee crisis in Myanmar, Asian businesses are continuing to invest. Bangkok-based construction company TTCL Pcl is one of the latest examples, targeting the first half of next year to complete a funding plan and shareholder structure for a planned $3 billion coal-fired power plant in Kayin state bordering Thailand. […]

Big dams can wait, Myanmar overhauls energy strategy

NAYPYITAW (Reuters) – Big hydropower dams are not a priority in Myanmar’s strategy to tackle chronic power shortages, the country’s new energy minister said in an interview that cast doubt over a controversial China-backed project in the country’s north. Already the construction minister, Win Khaing has overhauled the poor Southeast Asian country’s power strategy since […]

Myanmar’s Preservation Man Pursues Dream Museum

YANGON — Khin Shwe does not like to be called a “crony” — the label used to describe the wealthy Myanmar businessmen who enjoyed close relations with the previous military regime of Senior Gen. Than Shwe (1992-2011). “Now, all the Myanmar people think cronies are no good, and even the government doesn’t want to work […]

License snub prompts ANA to ditch Asian Blue Myanmar airline venture

YANGON – Japan’s ANA Holdings Inc has dropped a plan to form a joint venture in Myanmar, the airline said on Monday, after its application for an air operator’s certificate (AOC) was rejected by the authorities in the Southeast Asian country. ANA established the Asian Blue joint venture last year with local investor Golden Sky […]