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International community eyes investing in industrial zones in Yangon

The international community has shown interest in establishing industrial zones in Yangon Region, according to the Directorate of Investment and Company Administration (DICA). “A lot of foreign investors want to set up industrial parks,” said Than Aung Kyaw, deputy director general of DICA. During the 14th regular meeting between Vice President Myint Swe and local […]

Jade sales fetch nearly $300 million

Myanmar earned over US$290 million (389.8 billion kyat) from jade exports up to the first week of this month in 2017-2018 fiscal year. Sales were down by over $210 million compared to the same period of last FY, according to the Ministry of Commerce. Last year’s sales for the period were $404, compared to $291 […]

Myanmar better off in good graces with the West

Two developments stood out in Myanmar’s international relations landscape in 2017: The increasing Chinese influence in the country and the immense diplomatic pressure from international community on the government’s handling of the Rakhine crisis. Analysts cautioned Myanmar against overdependence on China for its development and urged the country to mend ties with the West to […]

Nay Pyi Taw needs to ensure investors aren’t misled over Rakhine crisis

Interview with Felix Chung, honorary chair of the Hong Kong Myanmar Manufacturers’ Association THE responsibility lies squarely with Nay Pyi Taw to ensure that foreign investors are not misled over the Rakhine crisis, according to a manufacturer association. The Myanmar Times sat down with Felix Chung, honorary chair of the Hong Kong Myanmar Manufacturers’ Association […]

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 […]