FMI to Partner With Manaung Island Firm

First Myanmar Investment (FMI) has formed a joint venture with a company owned by residents of Manaung Island in Rakhine State, which will develop the island and build infrastructure, according to an FMI announcement on the Yangon Stock Exchange yesterday. FMI signed an agreement with Manaung Public Company (MPC) on October 24 to established an […]

Export Volume of Mussels From Kyaukphyu to China Declines Due to Unstable Price

The drop in export volume of mussels mostly found in Kyaukphyu is attributed to the unstable price of mussels and irregular demand from China, it is learnt from the mussel depots. Around 2,000 to 7,000 viss of mussels are usually exported from the Kyaukphyu area to the China market per month. However, only 1,000-2,000 viss […]

Rakhine’s coastal waters still plagued by off-shore fishing vessels

The illegal entry of off-shore fishing vessels into Rakhine State’s shallow, coastal waters has reportedly see a depletion in amount of fish being caught by near-shore fisherman, Myitmakha News Agency has been informed. The Department of Fisheries has demarcated a territory ten-miles from the shore as an area exclusive to near-shore fishing vessels, but off-shore […]

Connectivity with Myanmar — the wait gets longer

Building a project in Myanmar was and is difficult. But, is it so difficult that the connectivity proposals mooted by Delhi early in the last decade will remain a dream or at best half complete? Exactly the same happened to proposals to connect the north-eastern States and ASEAN through Myanmar. The trilateral India-Myanmar-Thailand (IMT) highway […]

Small industrial zones lack government support

Investment should be directed toward upgrading the country’s ageing industrial zones, as the government contemplates launching new ones, say Yangon industrialists. As the Yangon Region government and Myanmar Investment Commission (MIC) mull the regeneration of the country’s industrial base, the owners of existing factories say more can be done to make them competitive. U Ko […]

Doubts raised over Chinese oil refinery plan

A Chinese-led US$3 billion plan to build Myanmar’s largest oil refinery near the southern city of Dawei has raised questions about China’s strategic intentions in launching apparently commercially unviable projects, while local groups have already signalled their opposition. Guangdong Zhenrong Energy Co, a Chinese state-controlled commodity trader, said the Myanmar Investment Commission (MIC) had signed its […]

Private gas-fired power project adds 230MW to national grid

A new privately run gas-fired power plant has joined the national grid system, boosting Myanmar’s power capacity, according to state newspapers. In 2011, Myanmar had 10 state-owned gas-fired power plants, with a total capacity of 270 megawatts (MW). Since then, 10 privately run gas-fired power plants have been connected to the national grid, bringing total […]

Japanese firms apply to operate in SEZs

Among the international insurance firms that have representative offices in Myanmar, only Japanese firms have applied to operate in special economic zones, according to the supervisory board of Myanma Insurance. Sixteen foreign insurance firms have opened representative offices in Myanmar, but they have not begun operations since regulations have not yet been fully disclosed. “We […]

Myanmar considers LNG to meet growing energy demand

Energy demand in Myanmar is rising fast. The country is abundantly rich in natural energy resources, but the investment of capital and technology will not be able to unlock these resources in time to fulfill the growing need for power. In the meantime, the Ministry of Energy is considering its options for imported fuel to […]

Chinese giant works to win the people

Though the Kyaukphyu area is set for large-scale investments, it is in Rakhine State, which is also home to some of the country’s poorest communities. Kyaukphyu hopes to become a hub for the oil and gas industry and is to be home to one of Myanmar’s three Special Economic Zones – yet local residents risk […]