Clothing industry looks for favoured status

The Myanmar Garment Entrepreneurs Association says it is working for MFN (most-favoured nation) status so that the CMP (cutting, making and packaging) clothing industry can receive tax reliefs. Myint Soe, chair of the association, said: “I have submitted a plan to ensure the country gets MFN status when CMP products are exported to the US. […]

International hotel chains open their doors in Myanmar

Since opening up the country, more tourists come and discover Myanmar and it is expected to grow even more. Therefore, more and more investors are seeing chances to begin their business here. That is why a lot of new hotels will open their doors as well in 2017. Since the new government, led by National […]

Myanmar Fishery Export Income Set to Double

​​ THOUGH MYANMAR’S fishery export income took a dive for three straight years until 2015, industry players hold high hopes to rebound, given the slight increase last year and the potential continuation of growth this fiscal year ending on March 31. In FY2011-12, Myanmar could generate US$705.9 million (Bt24.7 billion) from fishery exports, after dropping […]

YBS’ Nascent Progress for Yangon’s Populace

Old buses currently operating under the YBS Bus Lines System will be replaced by new buses in three months, said Dr. Maung Aung, secretary of Yangon Region’s Transport Supervision Authority. “New vehicles made in Korea and China will replace the old buses plying currently in Yangon. Air conditioning, GPS systems and other necessary equipment will […]

POSCO Daewoo launches agribusiness in Myanmar

POSCO Daewoo is launching an agribusiness venture in Myanmar as the company’s future growth engine. According to a POSCO Daewoo official, Sunday, Korea’s largest trading affiliate under POSCO group has secured construction and investment approval from the Myanmar government to build a rice processing complex (RPC) in Twante, the most accessible delta town from Yangon […]

Thilawa SEZ Receives US$900 Million in Foreign Investment

​​ RANGOON — Japan-backed Thilawa Special Economic Zone (SEZ) in Rangoon’s Thanlyin Township has received more than US$900 million in foreign investment since its launch in 2014, said a recent report issued by the Myanmar Investment Commission (MIC). “Since the start of the operation, the SEZ has received US$903 million foreign investment,” MIC secretary U […]

Military Conglomerate Hoping for More JVs

U Hla Moe, general manager of the planning department for the military conglomerate Myanma Economic Holdings Limited (MEHL), spoke to The Myanmar Times for an exclusive interview on operating as a public company, the outlook for joint ventures with foreign firms and competing on a level playing field in Myanmar’s new economy. The military established Myanmar Economic […]

Playing PPP Catch-up

Public-private partnerships (PPPs) have been used as a mechanism to build and upgrade infrastructure in the developing countries of Southeast Asia for several decades. However, PPPs are relatively new to Myanmar. The country is lagging behind the other ASEAN member states, and its development needs are enormous. Myanmar can benefit from PPPs for both hard […]

Myanmar’s Foreign Policy Rebalance

The country’s shift in its alignments is about more than just China and the United States. Myanmar’s new government is making its international debut. In mid-August 2016, Beijing welcomed Aung San Suu Kyi on her first visit to China since becoming Myanmar’s state counselor and foreign minister. This followed her trips to Myanmar’s ASEAN neighbors […]

Korea-Myanmar venture to build 500-acre garment zone

A Korean firm and a local company have teamed up with a view to building free-on-board (FOB) garment factories on 500 acres of land through a 50-50 joint venture. Myanmar-based Olympus Asia Group and Korea’s Panko Corporation signed a memorandum of understanding on August 20 and are looking for land in Yangon, Bago or Ayeywarwady […]