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EU green lights aquaculture imports from Myanmar

The EU has approved the import of aquaculture products from Myanmar, in a move that has been welcomed by aquaculture producers in the Southeast Asian country. “It’s a great accomplishment for the EU projects/people that have been working hard for the past years to make this happen,” said Jonah van Beijnen, an aquaculture expert closely […]

PetroChina receives second Iranian crude shipment via Myanmar terminal

A second Iranian VLCC discharged its cargo at the Myanmar oil terminal in August, indicating that state-run PetroChina is increasingly using the pipeline through the Southeast Asian country for importing Iranian crude to its refinery in southern China. The shipment comes at a time when refiners in the rest of Asia are starting to back […]

Myanmar gold exports could rise to 20 T in 2019 -industry official

KOCHI, India, Aug 4 (Reuters) – Myanmar could export as much as 20 tonnes of gold in 2019 after the Southeast Asian country earlier this year permitted exports of the precious metal for the first time in five decades, a senior industry official said on Saturday. A pick-up in legal exports will reduce the smuggling […]

NongHyup Financial and HTOO Group to start financing service in Myanmar in July

South Korea’s NongHyup Financial Group Inc. together with Myanmar’s HTOO Group will start a financial service for farming equipment businesses in the Southeast Asian country in the second half with this year, the company said Sunday. Two parties had signed a memorandum of understanding to cooperate on setting up a financial service business for the […]

Japanese pop culture fandom spreads in Myanmar

YANGON — Japanese pop culture is taking root in Myanmar, with big-name acts like AKB48 wowing crowds and manga styles influencing the comic scene. This is no accident. Active public-private cooperation is watering those roots. Japan’s government and companies have seen the success of South Korean dramas in the Southeast Asian country and are eager […]

As Myanmar eats more meat, Sumitomo to sell drugs for livestock

Trader aims for $1 billion in sales of pharmaceuticals for animals TOKYO — Japanese trading house Sumitomo Corp. is set to start selling drugs for animals in Myanmar later in March as part of an effort to enlarge its presence in what it expects to be a lucrative global market for drugs for livestock and […]

Saigon workers cash in on highest pay in Vietnam: survey

They were paid $456 per month on average last year, 38 percent higher than the national average. Ho Chi Minh City topped the average wage paid to employees last year, new data shows. Workers in the southern metropolis cashed in on average $456 per month, professional recruitment firm VietnamWorks said in a report released on […]

Myanmar targets LNG imports to fuel nation’s power surge

YANGON — Myanmar will begin importing liquefied natural gas as soon as 2020 to feed the country’s growing power demand, aiming to allay concerns among businesses about electricity shortages even as domestic gas output begins to drop. The government gave the go-ahead at the end of January for three power projects that will run on […]

Samsung scraps production plant in Myanmar

Samsung Electronics has scrapped its plans to build a production base for smartphones or home appliances in Myanmar due to an unfavorable administrative environment as well as lingering political uncertainties, the Korean Times reported. The world’s leading smartphone manufacturer, which has three production facilities in Vietnam, has been considering building another plant in Myanmar to […]

Cash is king in Myanmar, but for how long?

Since 2012, Myanmar has seen a steady economic growth, but most people in the Southeast Asian country still don’t possess a bank account and prefer to use cash for financial dealings. Ate Hoekstra reports from Yangon. “If a customer wants to buy a new vehicle, he usually brings a stack of cash with him,” says […]