Myanmar manufacturing set for takeoff

With the end to economic sanctions triggering an investment boom and an abundance of low-cost labor, Myanmar’s nascent manufacturing industries look set for major growth. In the space of less than two years, Japanese clothing retailer Honeys has increased the number of production lines at its second factory in Myanmar from five to 34. The […]

Myanmar Expected to Have Earned $2 Bn From Garment Industry

​​ It is expected that Myanmar could earn about US$ 2 billion from CMP (cutting, making and packaging) garment industry, which is running under a piecework system, in 2016, according to Myanmar Garment Entrepreneurs Association. US$ 1.65 billion was earned in 2015, and over US$ 1.1 billion has been earned between April and November of […]

Australia Wants AIIB to Invest in Coal Power

​​ Australia is reportedly lobbying hard for the China-led Asian Infrastructure Investment Bank (AIIB) to invest in coal power projects in Asian countries. The newly-established development bank is currently drafting its energy strategy and the prospect that coal could be excluded from its priorities has alarmed both the Australian government and the country’s powerful coal […]

Tourism industry booming in Mandalay in December

Tourist arrivals have increased in Mandalay due partly to the addition of more Mandalay-Bangkok- Yangon flights and more direct flights between Mandalay and Hong Kong in December. Adding to the burgeoning popularity of central Myanmar is the allowance since September for foreign tourists to enter Myanmar through border entrances with an evisa, available online. Tourists […]

10 tonnes of Myanmar green tea and tea leaf to be exported to Germany, Singapore

The Myanmar Fruit, Flower and Vegetable Producers (MFVP) Association is gearing up to export about 10 tonnes of Myanmar’s green tea and tea leaf to Germany and Singapore next year, according to the association. This year, Germany agreed to buy three tonnes of Myanmar’s green tea, said U Soe Than MinDin, the chair of MFVP. […]

Myanmar’s dried tea leaves to go to Germany

GERMANY pledged to purchase almost all the good-quality dried tea leaves produced from Shan State before Christmas, according to a spokesperson of the Ministry of Industry. The demand from the western European countries will help grow the presence of Myanmar’s products in the international market, exporters say. Producing quality dried tea leaves is a top […]

VTTI Looking to Invest in Oil Storage in Southeast Asia

SINGAPORE VTTI, the storage arm of the world’s largest independent oil trader Vitol [VITOLV.UL], is scouting for investment opportunities in Southeast Asia to cater to the region’s rising demand for tank space, the head of its Asia business unit said. The oil industry has absorbed at least 2 million cubic meters, about 12.6 million barrels, […]

School Under a Bridge Offers Free Education to Yangon’s Poor

Beneath a Yangon flyover, child workers study for a brighter future. Tun Tun can’t bear to see schoolchildren. The sight of a green-and-white school uniform is painful to this young flower-seller. Down under the Hledan flyover, he will even close his eyes, ignoring the risk from passing cars, when he sees another child heading off […]

Illegal Myanmar Teak Importation Widespread to EU, Investigation Finds

The Environmental Investigation Agency (EIA) released allegations Tuesday about what it says is the illegal importation of Burmese teak from Myanmar to the EU. In a two-month undercover investigation, staff from EIA, a UK-based campaigning organization, posed as prospective buyers and approached nine importers working in five EU countries. In a brief, the organization reports […]

Euromoney names KBZ Myanmar’s best bank

KANBAWZA Bank was awarded “The Best Bank in Myanmar-2016” by London-based economics magazine Euromoney, last Thursday at Island Shangri-Lan Hotel in Hong Kong, winning the award for the third year in a row. KBZ Bank was crowned Myanmar’s best bank after it managed to get the highest amount of deposit and make the highest profits […]