Renewed Sanctions Authority May Deter NES Implementation

US president Barack Obama’s recent renewal for a year of his authority to maintain sanctions on Myanmar may slow down the progress in implementing the National Export Strategy (NES), a senior official said. The United States eased broad economic sanctions on Myanmar in 2012 to reward its political opening but it still restricts business with […]

We do not understand why sanctions are imposed on gems

Chairman, Myanmar Gems and Jewellery Entrepreneurs’ Association The gems and jewellery sector makes an important contribution to the economy, supporting thousands of businesses which employ millions of people. Mizzima’s Juliet Shwe Gaung spoke to U Yone Mu, the chairman of the Myanmar Gems and Jewellery Entrepreneurs’ Association, in a wide-ranging interview that touched on plans […]

U.S. Companies Skirting Myanmar Sanctions Fuel Record Investment

U.S. companies registering in Singapore to skirt sanctions on Myanmar helped the city state trump China as the country’s number one investor this year, Myanmar’s deputy finance minister said. “Some of the U.S companies register in Singapore as a Singapore company and come and invest in our country,” Maung Maung Thein said in an interview […]

Asia Inc leads West in business in Myanmar

YANGON, Nov 5 – Asian businesses are gaining a foothold in Myanmar far quicker than those from Europe and North America, with China, Thailand, Hong Kong and Singapore accounting for nearly half of the firms setting up in the fast-changing country. According to the government’s Directorate of Investment and Company Administration (DICA), 134 Singaporean, 80 […]

UK lawyer Lucy Wayne reopens Myanmar firm after 12-year hiatus

UK lawyer Lucy Wayne has relaunched a practice in Myanmar 12 years after international sanctions placed on the country forced her to pull out. Having qualified at Dentons legacy firm Denton Hall Burgin & Warren in 1989, Wayne moved to Asia in 1992 to become managing lawyer of Ho Chi Minh City-based Indochina Consulting Services, […]

Sanctions Make Myanmar Business Difficult, Not Impossible

Myanmar’s 2011 shift to a civilian government, after decades of military dictatorship, shocked observers and paved the way for dizzying changes in the country’s economy. Companies are now eying opportunities in Myanmar, as a rapid easing in U.S. sanctions is making business in the country feasible for the first time in years. Still, while the […]

US opening to Myanmar timber could help save forests

The US Treasury Department earlier this month granted a 1-year waiver on the sanctions on timber trade of American companies with Myanmar. Under the waiver, timber trade is for US companies and other members of the International Wood Products Association (IWPA), according to Myanmar Timber Enterprise (MTE), a state enterprise in charge of timber trade. […]

U.S. Pushes Myanmar Firms to Get Off Blacklist

The U.S. is telling Myanmar companies it once designated as cronies of Myanmar’s former military junta now may be the time to get off the American blacklist. The effort highlights just how much of Myanmar’s economy remains under sanctions and the challenge for companies seeking to wade into the new terrain. State Department officials met […]

Secretary of State beds down with blacklisted businessman

US Secretary of State John Kerry touted the significance of what remains of his country’s sanctions regime against Myanmar on Sunday, describing it as a sign that Washington is keen to avoid rushing its engagement with Nay Pyi Taw. But the strength of his message, which talked up the importance of targeted sanctions, was tempered […]

West hurting only itself with economic sanctions on Myanmar

Myanmar’s opening up has attracted much interest, not only from its Asian neighbours but also those in the West that once considered the country a pariah state. Recent events, however, suggest that Naypyidaw’s honeymoon with the United States and Europe may be waning over political issues. In contrast, China and others remain ready to engage, […]