Economy to Grow by Seven Percent This Fiscal Year, Observer Group Predicts

RANGOON — Burma’s economy is predicted to grow by at least seven percent in the 2017-18 and 2018-19 fiscal years after growth of six percent last fiscal year, predicted regional observer group ASEAN +3 Macroeconomic Research Office (AMRO). Moderate growth in Burma last fiscal year (6.3 percent) compared to 7.3 percent the year before was […]

Myanmar surpasses FDI target of $6 bn in fiscal year 2016-17

“We have approved 135 foreign businesses according to the Foreign Investment Law during this fiscal year,” he said this week. “Meanwhile, we have approved FDI inflows of $262.59 million in the Thilawa Special Economic Zone, according to our SEZ Law. In total, we could approve $6.87 billion [Bt240 billion] this year.” Aung Naing Oo is […]

Asahi bringing Calpis to Myanmar

Asahi Group Holdings will begin selling its Calpis Lacto lactic beverage in Myanmar this month, marking the first time the Japanese company has sold Calpis-brand products in the Southeast Asian nation. The drink, which is made at a group plant in Thailand, will be sold primarily in urban areas through a joint venture with a […]

Thilawa SEZ Commences Second Phase of Project

​​ RANGOON — Rangoon’s Thilawa Special Economic Zone (SEZ) management committee members said they expect to complete the 250-acre second phase of the project in mid-2018, during a commencement ceremony at the SEZ’s new Zone B on Friday morning. Thilawa SEZ is located between Kyauktan and Thanlyin townships, 14 miles from downtown Rangoon. The project […]

First Myanmar Investment First-Half Profit Jumps 52% on Year

​​ YANGON — First Myanmar Investment said Tuesday its net profit surged by 51.9%, year on year, to 6.2 billion kyat ($29.1 million) in the first fiscal half ended Sept. 30. Revenue at one of Myanmar’s largest public company jumped 49.4% on the year to 74.6 billion kyat. By sector, financial services contributed 67.4 billion kyat to […]

Yangon real estate market recovers late in the year

The Yangon real estate market has bounced back from a two-year cooling period at the end of the year, with sales and rentals of real property going well, said Yangon real estate agents. “It is a long time that the real estate market has been cool. However, the sales in the end of year are […]

Suzuki to make and sell high-end cars in Thilawa

Suzuki will manufacture highend cars next year at an auto manufacturing factory in Thilawa Special Economic Zone (SEZ), said Mr. Takayuki SuJiyama, Managing Director of Suzuki (Myanmar) Motor Co. Suzuki has already firmly established itself in the Myanmar automobile market and now plans to fulfill the need for all types of cars, Mr. SuJiyama said. […]

Myanmar’s New Economic Zone Attracts Foreign Interest But Local Ire

YANGON (Thomson Reuters Foundation) – Looking north from Myint Win’s farm, across rice paddies and past bamboo huts, a massive new industrial development on the outskirts of Myanmar’s biggest city gleams in the distance. The buildings sprang up during the first phase of developing the Thilawa Special Economic Zone (SEZ), a 6,200 acre (2,500-hectare) industrial […]

Securities Commission Says Foreigners Cannot Buy Shares This Year

NAYPYIDAW — The Securities and Exchange Commission of Myanmar (SECM) will not allow foreigners to buy shares on the Yangon Stock Exchange (YSX) this year, said Maung Maung Win, deputy minister of the Ministry of National Planning and Finance. Only two companies have listed on the YSX to date—First Myanmar Investment (FMI) and Myanmar Thilawa […]

In Mon State, expanding quarries threaten farms

On a recent afternoon in May, the farmers of OhnTitbin Village Tract were tending to their betel nut and rubber plantations when a loud blast erupted at the foot of Kalama Mountain and shook the ground. Workers had set off an explosion in a local quarry located about 10 km away and a cloud of […]