Myanmar Luxury Property Hampered by Confusion Over Law on Foreign Buyers

Confusion over a law allowing foreigners to buy condominiums in Myanmar is prolonging a slowdown in its residential property sector, highlighting the challenges of regulatory flux in the frontier market. The legislation adopted in January 2016 leaves unanswered questions such as whether it applies to existing apartments, hurting efforts to woo investors. The outlook now […]

Myanmar Is Next Vietnam With 10% Growth: British Diplomat

Myanmar could be the next Vietnam or Thailand, with the economy having the potential of growing as much as 10 percent, a senior British diplomat said. The Southeast Asian nation, which is opening its economy to investors after decades of military rule, has to overcome challenges including a shortage of power supply, lack of policy […]

Growing Economy Brings Rise in Fuel Oil Shipping from Singapore

​​ SINGAPORE — Burma’s oil imports are surging to fuel a fast-growing economy and rebuild rotting infrastructure, creating a small but profitable route for ships making a beeline for the emerging Southeast Asian nation from the regional hub of Singapore. Servicing growth that could top 8 percent this year is a clutch of small tankers […]

ANA Plans to Start Flights From Myanmar

​​ TOKYO – ANA Holdings Inc has invested in a new airline venture in Myanmar that aims to start international flights in 2018 as the Japanese carrier seeks to capture demand in Asia’s fastest-growing economy. ANA has a 49% stake and a local company holds the remainder, Shinya Katanozaka, chief executive officer of Japan’s largest […]

Myanmar Opens Bidding For New Yangon-Mandalay Rail Cars

​​ YANGON — Myanma Railways announced Friday that bidding has opened for train cars for upgrades to the railway linking the nation’s two largest cities of Yangon and Mandalay. The state-owned railway network operator seeks to acquire 24 carriages. The country’s rail network is not electrified, so Myanma Railways wants diesel-electric-type units. Bidding will close […]

British Firm Finds New Export Route for Commercial Vehicles in Myanmar

Used truck and trailer retailer ATE Truck and Trailer Sales has sold 11 pre-owned truck to a customer in Myanmar, opening a new export market for the Wolverhampton-based firm. The 11 commercial vehicles – a mix of Scania R420 and R480 6×2 tractor units – marks ATE’s first export deal to the Southeast Asian nation. […]

Create Jobs in Myanmar, Suu Kyi Tells Japan Inc.

TOKYO — Myanmar’s Aung San Suu Kyi urged Japanese business leaders Friday to invest in the Southeast Asian nation in ways that will create jobs. Myanmar’s youth have few employment opportunities, making economic growth difficult, the state counselor said during a meeting in Tokyo with officials from groups such as the Japan Chamber of Commerce […]

Post-Sanctions Myanmar the New Frontier for Global Business

YANGON/TOKYO — The end of long-standing U.S. sanctions on Myanmar companies linked to the former military government is cause for celebration in both countries, opening up a slew of previously off-limits business and investment opportunities. The U.S. Treasury Department lifted all financial sanctions on the Southeast Asian nation Friday after months of dogged appeals by […]

Amid transition, Myanmar’s Senior General emerges from the shadows

Like many of his generation, the head of Myanmar’s powerful military is a recent but enthusiastic convert to Facebook. On his profile background picture, the commander-in-chief gives a “thumbs up” from the cockpit of an airplane. Posts show him celebrating new year in a traditional boar tusk headdress and visiting wounded soldiers. YANGON: Like many […]

Myanmar president hails ‘triumph’ of democratic transition

President Thein Sein hailed the “triumph” of Myanmar’s transition of power Thursday, addressing a military-dominated parliament for the final time before a handover to Aung San Suu Kyi’s pro-democracy movement. The Southeast Asian nation, choked for decades under junta rule, is on the cusp of a remarkable political transition after Suu Kyi’s National League for […]