Myanmar president hails ‘triumph’ of democratic transition

President Thein Sein hailed the “triumph” of Myanmar’s transition of power Thursday, addressing a military-dominated parliament for the final time before a handover to Aung San Suu Kyi’s pro-democracy movement. The Southeast Asian nation, choked for decades under junta rule, is on the cusp of a remarkable political transition after Suu Kyi’s National League for […]

Tourism investment on the rise

Ministry of Hotels and Tourism has granted permission to build at least 923 hotels in late 2013 and international community is eyeing to invest in Myanmar tourism industry according to the Ministry. Among those interested in are majority from Asian countries. Some European countries have also expressed interested in the business. Many are making contact […]

Exports to the U.S. top US$11 million this year

Myanmar has exported more than US$ 11 million worth of products, mainly in garments and fishery, to the United States this fiscal year, according to government statistics. The figures show a sizeable increase from US$ 2.81 million earned in exports to the U.S in the same period last year. The United States lifted economic sanction […]

Early Returnee Dutch firm lends helping hand in project management

For many potential foreign investors the outcome of Myanmar’s elections in 2015 will determine if the country is firmly on the path of democratization, but Dutch firm Royal Haskoning DHV has no such reservations. The engineering and project management consultancy was one of the first to return to Myanmar as part of an unofficial Dutch […]

Myanmar to spend Ks 33.4 billion budget to host Asean Summits

President’s Office has allocated a budget of Ks 33.4 billion (US$34 million) to host Asean Summit after Myanmar took over Asean Chairmanship, a senior official from the Ministry of Foreign Affairs said on Friday. Aung Htoo, deputy director-general of Asean Affairs department under the Ministry of Foreign Affairs, said he cannot be sure whether the […]

ANA to acquire 49pc of Asian Wings

Japan’s All Nippon Airways (ANA) has announced it will acquire a 49 percent stake in a Myanmar airline, the latest foray into the rapidly-opening and potentially lucrative Southeast Asian market. Foreign firms have piled into Myanmar since the installation of a nominally civilian government in 2011, eager to make the most of opportunities in a […]