The Industrial and Commercial Bank of China (ICBC) will position itself as the main financial services provider for all projects under China’s ambitious Belt and Road Initiative (BRI), Hong Laing, Chinese ambassador to Myanmar, said at the two-year anniversary ceremony of ICBC Yangon on October 21. The BRI is a huge project backed by the […]
China agrees to 70% share in Kyaukphyu sea port
October 19, 2017 by
China has agreed to take a 70 percent stake in a strategically important sea port in Burma, at the lower end of a proposed range amid local concerns about Beijing’s growing economic clout in the country, a senior government official said. Oo Maung, vice chairman of a government-led committee overseeing the project, said Burma had […]
What potential does Myanmar offer food exporters?
June 13, 2016 by
The boom in tourism in Myanmar has inflated local demand for international food brands, while the local food manufacturing base remains very limited in scope. Tourism is expected to continue to grow after the country’s first democratically elected government came into power in April. Myanmar’s ministry of hotels and tourism announced a record 4.6m international tourists […]
Myanmar’s fast-food industry attracts US attention as sanctions ease
June 7, 2016 by
US fast-food firms could flood into Myanmar after the easing of US-imposed sanctions to improve bilateral trade and allow more financial transactions to take place. The US Treasury, for instance, has removed from a blacklist seven state-owned enterprises and three state-owned banks – the Myanma Economic Bank, Myanmar Foreign Trade Bank, and Myanma Investment and […]
Thailand’s ruling general bets US$83 billion on taming the wild frontier with Myanmar
November 10, 2015 by
BANGKOK — For much of the past century, the Thai border town of Mae Sot stood on one of Asia’s wilder frontiers. On the opposite bank of the swirling, mud-brown Moei River in neighbouring Myanmar, Karen insurgents waged a seemingly endless independence war. Smugglers trafficked guns, opium, timber and gemstones. Then there was the two-way […]
Thailand’s CP Land to invest in commercial office building
July 1, 2015 by
CP Land Plc, the property arm of agribusiness conglomerate Charoen Pokphand Group, plans to spend 500 million baht this year to take over an office building in Yangon, according to the Bangkok Post. Vice-president Naravadee Waravanitcha said soaring demand for office space in Yangon prompted the company to invest in Myanmar’s commercial capital. “Office rents […]
No turning back for Myanmar’s economy
April 6, 2015 by
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 […]
Thailand’s Oishi turns to ice cream in Myanmar
April 24, 2014 by
Oishi Group Plc is looking at producing ice cream as a new product to strengthen its food business. Paisarn Aowstaporn, executive vice-president for Oishi food business, said that the company recently introduced Aisu, a new ice-cream brand, at Nikuya Japanese restaurants in Bangkok to test the market response. “We’re interested in the ice cream business […]
Thailand’s True in talks to operate mobile service in Myanmar
March 3, 2014 by
BANGKOK/YANGON, Feb 26 (Reuters) – Thailand’s True Corp Pcl is in talks with Myanmar’s Yatanarpon Teleport (YTP) on jointly starting mobile phone operations in Myanmar, a senior True executive said on Wednesday. “We are in the process of negotiating with YTP. If successful, we need to seek approval from True Corp’s board and then we […]
