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Myanmar jade industry gathers dust despite China-led boom

NAYPYITAW — The jade mining industry in Myanmar, one of the world’s richest sources of the gem, is scrambling to meet rising Chinese demand, sometimes at the cost of human lives. Yet this booming trade has not translated into growth beyond the dangerous work of extraction. In fact, Myanmar’s jade processing industry has languished, mainly […]

New Chair of Kyaukphyu SEZ Wary of Chinese Loans

YANGON — Myanmar will endeavor to take on no loans from China to complete the Kyaukphyu Special Economic Zone (SEZ) but would offer the developer no sovereign guarantees to mitigate risk if it does, said the project’s new chairman, seeking to allay fears of a debt trap. Sean Turnell, an economic adviser to State Counselor […]

Siam Cement sees opportunities along Belt & Road

Thai conglomerate’s CLMV investments will pave way to China and India, CEO says HONG KONG — Thai industrial conglomerate Siam Cement Group will look for investment possibilities in South China and India in the years ahead, as China shapes its vision of the Belt and Road Initiative, President and CEO Roongrote Rangsiyopash said Monday. The […]

Modi Backs India-Myanmar-Thailand Highway’s Indochina Extension

NEW DELHI — India is pushing an ambitious highway initiative through Myanmar and Thailand to connect with Vietnam through Cambodia and Laos, which observers of Southeast Asia see as part of its efforts to counter China’s Belt and Road Intiative (BRI) project. Connectivity with the 10-member Association of Southeast Asian Nations (ASEAN), which comprises Brunei, Cambodia, […]

TMH Telecom set to become Myanmar’s first true IPO

YANGON — TMH Telecom gained approval Monday to become only the fifth corporation to go public in Myanmar’s fledgling stock market — and the first to raise fresh capital through an initial public offering. The listing is expected to occur in January, though the announcement of the float’s approval by the Yangon Stock Exchange did […]

Myanmar GDP Growth to Rebound Despite Rakhine Crisis

YANGON — Myanmar’s economy is set to recover despite a humanitarian crisis in Rakhine State, while the ruling National League for Democracy — two years after it won its historic election victory — finally prepares a comprehensive plan for economic development. Sean Turnell, special economic consultant to State Counselor Aung San Suu Kyi, told the Nikkei […]

Myanmar moves to stave off credit crunch

NAPYITAW — Myanmar’s banking system is facing tough new regulations that could take more than $1 billion worth of local currency out of circulation, severely curtail lending and badly hurt the economy if a tight compliance deadline is not eased, senior bankers have warned. The Central Bank of Myanmar published its first set of modern […]

Myanmar’s Infrastructure Deficit Outpaces the World

SYDNEY — A wide-ranging assessment of Myanmar’s infrastructure deficit and its ability to start closing the gap has found that the country is likely to meet only half of those investment needs by 2040, dampening hopes that it can lift the estimated 54 million population out of poverty by then. Of the 50 nations surveyed […]

Unilever sees growth in bottom and top of Asian economic pyramid

TOKYO/YANGON/MUMBAI — At a small shop tucked into a residential neighborhood of Yangon, one peculiar set of items has emerged as a hit seller among the snacks and household staples on offer: single-use pouches of Unilever shampoo, which dangle from the store’s walls and ceiling. Many in Myanmar still consider bottled shampoo of the sort […]

Head of Myanmar’s City Mart eyes aggressive expansion, doubling outlets by 2020

YANGON — City Mart Holding, Myanmar’s largest retailer, is planning to expand aggressively as competition intensifies with the entry of foreign players into the domestic market. Win Win Tint, City Mart Holding’s managing director, revealed its plan to double the number of outlets of the flagship supermarket by 2020. The company also plans to enter e-commerce next […]