Economy to Grow by Seven Percent This Fiscal Year, Observer Group Predicts

RANGOON — Burma’s economy is predicted to grow by at least seven percent in the 2017-18 and 2018-19 fiscal years after growth of six percent last fiscal year, predicted regional observer group ASEAN +3 Macroeconomic Research Office (AMRO). Moderate growth in Burma last fiscal year (6.3 percent) compared to 7.3 percent the year before was […]

Myanmar opens Thilawa SEZ to foreign insurers

Myanmar is opening up its Thilawa special economic zone near Yangon to international insurance companies — part of a market liberalization effort expected to gain momentum this year. The government does not allow foreign insurers to offer their services outside of Thilawa — a Myanmar-Japanese joint venture and the country’s only operational SEZ. Only three […]

Myanmar to solicit bids for its 1st LNG terminal

An international tender to build Myanmar’s first liquefied natural gas terminal will start as early as April, presenting a business opportunity for Asian trading and energy companies, according to a government source. Along with a floating LNG terminal with an annual capacity of 3 million to 4 million tons, the $2-billion project includes construction of […]

Thilawa Extends to Zone B

​​ The Thilawa Special Economic Zone (SEZ), involving more than US$ 1 billion investment, will be extended to Zone B and construction of infrastructures will be completed by mid-2018, SEZ Management Committee Chair U Set Aung told the media. Total FDI in Zone A has amounted to US$1055 million and the zone is now 95% […]

Govt mulls B4.5bn loan for Myanmar

Thailand is considering granting a 4.5-billion-baht loan to Myanmar to fund an infrastructure development project including the planned construction of a 132-km long road to stretch from the Thai-Myanmar border in Kanchanaburi to the Dawei special economic zone in the neighbouring country. Transport Minister Arkhom Termpittayapaisith revealed this on Tuesday, saying the loan request was […]

Myanmar officials say work on Dawei SEZ could restart

Plodding progress is being made on the long-delayed Dawei Special Economic Zone, according to Tanintharyi Region government officials, who are hoping the project will restart soon. Regional government officials visited Japan last month to discuss that country’s potential participation in the SEZ and reported strong interest, the Myanmar Times reported on Thursday. Tanintharyi Region chief […]

Contracts of Foreign Investors at Inactive SEZs to be Reviewed

​​ Myanmar should establish new special econom­ic zones and contracts with foreign investors at inactive SEZs should be reviewed, the commerce minister has said. Dr Than Myint, chair­man of the SEZ Central Working Committee and Union Minister of the Ministry of Commerce, was speaking at a meeting with union ministers. “SEZs are one of the […]

Thai delegation visits Myanmar

Deputy Prime Minister Somkid Jatusripitak is scheduled to lead a Thai delegation to Myanmar on Feb 2-3, seeking to expand bilateral trade and investment as well as border trade. Isara Vongkusolkit, chairman of the Thai Chamber of Commerce, said the delegation will include 40 representatives who will meet Myanmar businesspeople to discuss possible partnership on […]

Coffee: You’re Making it All Wrong

​​ Weekend learns the art – and the science – of making the perfect cup of coffee. Despite an unrelenting stream of coffee shop openings over the past year or so, it is still surprisingly difficult to find a decent cup of coffee in Myanmar – unless, of course, your idea of decent is three-in-one. Buying […]

S Korea to Help Build Myeik Power Plant

The Myeik Public Corporation explained its plans to build a gas-fuelled power plant in partnership with the Korea-based KMPI Company in Kyunzu Township, Taninthayi Region, at a stakeholder meeting on Thursday. The project would be a combined cycle power plant and cost US$565 million, according to Myo Aung, director of the corporation. He said: “First […]