Better PR, infrastructure needed to woo more Korean investors

Myanmar must be more proactive and enthusiastic across its attempts to attract foreign investors, such as visiting with the countries it plans to attract investments from. It should also better communicate developments that would be of interest to investors, such as recent directives on liberalising the education and retail sectors, Lee Hyuk, Secretary General of […]

India’s visa-free policy lures Myanmar tourists

Myanmar travellers to India increased by more than 10 percent in 2017 compared to 2016, apparently boosted by India’s new visa-free policy for all Myanmar visitors starting in September 2017. Indian Prime Minister Narendra Modi announced the free visas for all Myanmar citizens during a visit to Myanmar last September 6. “More than 10pc growth […]

Myanmar women garment workers on study trip to B’desh

As part of its initiative to upscale the outreach of its social progamme for women workers in Myanmar’s garment industry, a European Union funded project called Smart Myanmar organized a study mission to women’s centres in Bangladesh to exchange ideas and share experiences which could be replicated in their own society. The mission, comprising seven […]

Myanmar accedes to CLC Protocol

Myanmar has deposited its instrument of accession to the 1992 Protocol to the International Convention on Civil Liability for Oil Pollution Damage (CLC). The efforts to bring the legislation into national law followed the participation of Myanmar at a five-day workshop hosted by IMO in November 2015, during which Government officials from Myanmar gained insight […]

Myanmar promotes alternative destinations to ease strain

MYANMAR is ramping up efforts to develop new destinations within the country as well as promote travel during rainy season in a bid to make its tourism industry more sustainable. While the plans fall short of offering incentives to hoteliers and travel companies to develop destinations outside of key hubs – namely Yangon, Mandalay, Inle […]

Vietnamese investors’ rising interest in Myanmar

More than 50 business groups from Vietnam have been conducting market research in Myanmar in order to look for investment opportunities, said Pho Nam Phuang, director of Investment and Trade Promotion Centre, on Friday. The research is being conducted at shopping malls and supermarkets in Yangon and Mandalay, she said in the press conference at […]

OBG Report Charts Myanmar’s Development as FDI Rockets

UK-based publishing, research and consultancy firm Oxford Business Group (OBG) published its first country report on Myanmar which sheds light on the country’s new investment law, wide-ranging reforms and emerging economic sectors, the firm announced. With most Western sanctions now lifted and a new mining law in the pipeline, “The Report: Myanmar 2014” charts the […]

Salt industry to collapse, experts fear

Myanmar’s once-booming salt industry, destroyed by Cyclone Nargis, will be completely wiped out within a couple of years unless it receives financial aid from the government, industry experts warn. The storm, which killed an estimated 138,000 people and caused billions of dollars’ worth of damage to the economy when it struck in May 2008, also […]

Businesses worry red tape will remain an obstacle despite reforms

Cutting red tape in line with regional standards is going to be an uphill struggle for many government departments, experts said, as the government has instructed its ministries to simplify bureaucratic procedures to meet ASEAN standards by the end of March. U Tin Maung Than, director and senior research fellow of Myanmar Development Resource Institute […]

Local oil and gas firms form new association

Local energy companies seeking a bigger share in the exploration and production of the country’s oil and gas resources have formed MOGSS, the Myanmar Oil and Gas Services Society, the group announced at a press conference last week. The formation of the group comes at a time when international energy giants are poised to enter […]