Thailand aims to double bilateral trade with Myanmar

THAILAND and Myanmar will strengthen trade and economic cooperation under a strategic-partnership strategy aimed at doubling bilateral commerce within the next five years. The two countries’ governments and private sectors will this week sign 15 memoranda of understanding to promote trade, investment and service growth. Deputy Prime Minister Somkid Jatusripitak will today lead an official […]

ADB eyes greater role in Myanmar road, port projects

MANILA — The Asian Development Bank will help Myanmar modernize its transportation infrastructure, such as roads and ports, seeing public-private partnerships as key to promoting projects. The Manila-based multilateral lender will serve as an adviser assisting the Myanmar government in such matters as drawing up plans, selecting contractors and procuring funds. The arrangement will be […]

ADB to Help Improve Irrigation, Agriculture Production in Myanmar

​​ The FINANCIAL — The Asian Development Bank (ADB) has approved a $75 million loan to help strengthen Myanmar’s agriculture production and value chain development by improving and modernizing irrigation systems in three regions of the country’s central dry zone (CDZ). The Global Environment Facility is also providing a $4.79 million technical assistance grant to […]

Mitsubishi to begin Myanmar project

YANGON – Japanese trading house Mitsubishi Corp said Tuesday that it has agreed with Mitsubishi Estate Co to commence work on a mixed-use landmark development project in downtown Yangon, Myanmar, in collaboration with Singapore-listed Yoma Strategic Holdings Ltd and local firm First Myanmar Investment Co. The project, which will cover 200,000 square metres of residential, […]

Yoma revs up property development drive in Myanmar

YANGON — Singapore-listed Yoma Strategic Holdings is accelerating its real estate development drive in Myanmar to meet growing local demand for residential units, offices and commercial facilities. Yoma’s move comes as Myanmar has emerged from decades of international isolation and now enjoys high economic growth, making the Southeast Asian country an increasingly promising property market. Yoma […]

Dealmaking excitement builds over beers in newly opened Myanmar

YANGON (Bloomberg) – A scorching May day in Myanmar calls for beers and loosened neck ties. At newly opened Harry’s Bar in Yangon, investors talk opportunities over draft lagers, jalapeno steak sliders and fries. Several private equity types and company executives are gathered around Ms Jasmine Thazin Aung, an energetic and bubbly Yangon-based executive director at […]

The Land Rush in Myanmar

After decades of military rule, Myanmar at last has a democratically elected government. Longtime opposition leader Aung San Suu Kyi’s party took charge in March, with her ally Htin Kyaw becoming president and the Nobel laureate herself serving as foreign affairs minister. In response, the U.S. last month announced a partial rollback of economic sanctions […]

Glittering year for Myanmar’s golden pagoda

As he smooths a gold plaque on the glistening flank of Myanmar’s most prestigious Buddhist pagoda, a merchant pays his ancestors the highest honour — and contributes to a bumper year of donations to re-gild the sacred site. The Shwedagon Pagoda, which rises in a stately conical tower above downtown Yangon, has been at the […]

Foreign Investment Soars to Record $8B in 2014-15

RANGOON — Foreign direct investment in Burma grew sharply during the 2014-2015 fiscal year and reached a record US$8 billion, a more than doubling of FDI compared to the year before, according to the Myanmar Investment Commission, which said the oil and gas sector was the main driver of growth. “We expected $4 or 5 […]

No turning back for Myanmar’s economy

The headlines on Myanmar in local and foreign media are often worrying – and not without reason. Myanmar’s army is embroiled in a border war, its peace process with 16 armed ethnic groups and alliances hangs in the balance, students are protesting against the education system and the recently freed media is discovering the limits […]