Rangoon Firms Seek Fixes to Familiar Woes in Chief Minister Meet-Up

RANGOON — Reliable supplies of running water and electricity, as well as thousands of squatters, are urgent issues to be prioritized, the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), an organization of influential businesses in Rangoon, told the division’s new chief minister at its meeting with him on Monday. The new […]

Microsoft Discusses Cybersecurity, Cloud Computing with Local Entrepreneurs

Microsoft recently hosted a series of workshops and seminars for local business leaders and entrepreneurs, sharing emerging trends in technology and discussing how technology innovation can help local businesses grow, transform and build the local economy. The American software giant’s representatives visited with members of the Union of Myanmar Federation of Chambers of Commerce and […]

Private hospital to be built on govt land

A large plot owned by the Ministry of Health in front of the University of Nursing at the corner of Bogyoke Aung San and Pyay roads in central Yangon has been leased for a private hospital, according to a source at the Myanmar Investment Commission. It is reported that the monthly land rental is Ks181 […]

Businesswoman aims to change politics from the inside

Clad in a silk longyi sarong as she sits on an opulent sofa in her central Yangon mansion, Thet Thet Khine might seem like one of the most improbable new faces of the National League for Democracy — a party better known for grass-roots activism and former political prisoners. Yet, this affluent businesswoman, medical doctor, […]

Draft automobile policy to be submitted this session

The draft of a new Myanmar Automobile Policy which aims to improve domestic car production and make prices more affordable will be submitted to parliament this session. The 13th session of parliament, which began yesterday, is likely to pass a number of laws that are currently under discussion. Pyithu Hluttaw representative U Myint Soe from […]

Back-Alley Computer Geeks Are Hidden Winners of Myanmar Election

In a run-down building on a trash-strewn side street of oily vehicle repair shops and steamy noodle vendors, a group of 20-something software geeks are hunched over laptops in a white and red open-plan office, working on projects for everything from a private-jet operator to a mobile-phone network. “There’s just enormous, enormous amounts of opportunities […]

Burma Signs Trade Finance Agreement with ADB

RANGOON – Burma’s government signed a framework agreement with the Asian Development Bank on Wednesday that will allow the latter to introduce its Trade Finance Program (TFP) to the country. In a statement issued by the Manila-based institution on Wednesday, Maung Maung Thein, Burma’s deputy finance minister, welcomed the program which he said will enhance […]

Energy Advisor Woos Investors, But Hints at “Dark Forces”

U Soe Myint, a national energy sector advisor to the Asian Development Bank and former director general of Ministry of Energy’s Energy Planning Department, told a business seminar that more foreign investment is needed in the oil and gas sector, but they should be aware of uncertainty. He said that in addition to oil exploration, […]

Burmese Kyat Weakens in Light of Trade Deficit, Shortfall of USD

RANGOON — A shortfall of US currency and a growing trade deficit has weakened the Burmese kyat, bankers and businesspeople said, warning that demand for the dollar has pushed the country’s limited foreign currency into the hands of black market traders. Burma’s Central Bank has set the country’s exchange rate at 1,082 kyats to the […]

FDI relies on politics and infrastructure

Two big barriers – electoral uncertainty and poor infrastructure – are standing in the way of further foreign investment, business sources believe.Even as more foreign investment has flooded into the country, many investors have adopted a wait-and-see attitude, they say. The Myanmar Investment Commission has already permitted about US$54 billion of overseas investment in the […]