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 […]

New US trade preferences highlight challenges for Myanmar exporters

Myanmar’s business sector has welcomed US plans to lift almost all remaining sanctions against the country and reinstitute special trade preferences, but some industries could find it hard to take advantage of the new environment. US President Barack Obama announced this week that he intends to lift the state of emergency the US declared against Myanmar in […]

Free from sanctions, state-owned MFTB upgrades services

One of three state-owned financial institutions recently taken off the US sanctions list says it has made a concerted effort to upgrade its services since the current government took power in April, under instruction from the Ministry of Planning and Finance. Myanma Foreign Trade Bank, established in 1976, held a monopoly on the foreign exchange […]

Myanmar moved off money laundering watchlist

Inter-governmental body the Financial Action Task Force (FATF) has removed Myanmar from its list of states deemed weak in combating money laundering and terrorist financing, which experts think should make international banks more comfortable doing business with the country. FATF, which counts China, the United States and India as members, released a public statement on […]

US Investment in Burma Forecasted to Increase

RANGOON — US investment in Burma has strong potential to increase this year, experts said at a US-Burma Economic Relations seminar in Rangoon on Monday. Entitled “US-Burma Economic Relations: The Next Phase,” the seminar was jointly organized by the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) and the United States Chamber […]

Cronies Disappointed As US Sanctions Extended

RANGOON — In wake of the extension of most of the US sanctions on Burma on Tuesday, several cronies have remained on the Specially Designated Nationals (SDN) list, despite the expectation that they would be removed. Sanctioned businessman Khin Shwe, chairman of the Zay Kabar Group of companies, told The Irrawaddy, “Some people have suggested […]

US offers path to redemption for ‘cronies’

Myanmar officials and the business community yesterday expressed hope that the lifting of US sanctions against prominent industrialist U Win Aung last week would open the door to an influx of US investment and the removal from Washington’s blacklist of other tycoons linked to the former military regime. An industry insider who asked not to […]

Can Singapore capitalise on Myanmar’s opening?

Myanmar’s political opening has caught the world’s attention, and many countries are rushing to what has been called Asia’s last frontier market. Punishing sanctions by the European Union have been lifted, while Washington DC has suspended its measures. Seized by the economic potential of the country’s large market and rich resources, Western companies have responded […]

Award of major airport contracts offers new clues about Thein Sein government’s approach to doing business.

Subscribe to our Tender Alert. We send out email alert on Tender and EOI as it happens. Yangon’s still-sleepy international airport has grown increasingly busy amid a growing tourist trade, a flood of Western diplomats and NGOs re-establishing themselves in Myanmar, and planeloads of corporate executives coming to see whether all the changes are real. […]