Myanmar Business Network

Myanmar allows opening of 62 private schools

2013-06-19T20:35:00.000+06:30

The Myanmar Ministry of Education has allowed a total of 62 private schools to formally open across the country, the local Union Daily reported Tuesday. Townships in Mandalay Region leads other places with 20 private schools, followed by Monywa, Tachileik and Muse townships in Sagaing region and Shan state. Myanmar enacted a Private School Law at the end of last year to pave the way for opening

Unilever sets out goals for Myanmar

2013-06-19T14:28:00.005+06:30

Unilever, the Anglo-Dutch global consumer goods company, will open its first factory in Myanmar next month as part of its 20-billion-baht (US$667 million) investment plan in consumer products in the country. The new Unilever (Myanmar) factory, on five rai of land in Yangon, will become operational in a few more weeks. Unilever first entered the country 80 years ago but was forced to withdraw

Over 140 joint ventures in Myanmar's growing oil and gas sector

2013-06-18T22:10:00.002+06:30

The number of joint ventures between local and international energy companies now exceeds 140 say officials from the Ministry of Energy. According to Myanmar’s most recent foreign investment law, foreign companies are generally required to make joint ventures with local companies in order to invest in the oil and gas sector. On June 12, a total of 145 joint ventures have been registered with

Myanmar's clothing industry promises growth

2013-06-18T22:09:00.001+06:30

Myanmar's clothing industry is expected to grow as a result of the country's readmission to a preferential EU trading scheme, according to sources from the industry. The European Union readmitted Myanmar to its trade preference scheme on June 12 which grants developing nations preferential access to the 27-nation bloc for several products in the form of lower tariffs. "This is a great chance

China's Huawei to work with Myanmar state-owned telecom

2013-06-18T16:16:00.002+06:30

The Chinese telecommunications giant Huawei has been chosen to work with the State-owned Myanmar Posts and Telecommunications (MPT) to further expand local mobile networks, according to sources from MPT. MPT invited tenders from several mobile companies to expand their telecommunication reach. International companies such as Ericsson, Huawei, Nokia Siemens and ZTE all submitted bids, but Huawai

Now is opportune moment for foreign investors: President

2013-06-18T16:13:00.001+06:30

Now is the best time for foreign investors because of the government’s relaxations on foreign investment sector, said President Thein Sein during his meeting with Dr Paul Wolfowitz, the former World Bank President and former US Deputy Secretary of Defence. The two met at the Presidential Palace in Nay Pyi Taw on June 14. The meeting focused on potential investments, establishment of factories

Land prices surge on the city's outskirts

2013-06-18T15:03:00.002+06:30

Land prices in Yangon’s outskirts have risen as much as 30 percent since the beginning of the year, resulting in an increase of more than 100pc over last year in some locations, especially those adjacent to industrial zones and new housing projects, real estate agents say. To read the complete article, please click HERE Source: Myanmar Times

Double-taxation deals in detail

2013-06-18T15:01:00.001+06:30

An investor from, say, Indonesia profitably sells his shares in a company incorporated in Myanmar. Having done so, he is unhappy to hear that his capital gain is subject to an income tax of 40 percent in Myanmar. If the investor had been from Singapore, the rate would have been only 10pc or, in some cases, zero. Why is that so? To read the complete article, please click HERE Source: Myanmar

Coca-Cola opens bottling plant in Myanmar

2013-06-18T14:30:00.001+06:30

Coca-Cola began bottling its famous soft drink in Myanmar (Burma) as part of a planned five-year, $US200 million ($A205.8 million) investment after having no local production for more than 60 years. The company announced in a press release the ceremonial inauguration of its bottling plant in Hmawbi Township, a suburb of Yangon, the country's biggest city, with local partner Pinya Manufacturing

Crawford Fund Fellowship for Food Security (Myanmar)

2013-06-17T12:24:00.001+06:30

Deadline: 28 June 2013 Open to: agricultural scientist below the age of 35 years who is a citizen of, or who is working in Myanmar Fellowship: funding for recipient to spend a period of focused study and training in Australia Description The Crawford Fund Fellowship was established in 2002 with the generous support of Dr Brian Booth AM FTSE. The aim of the Fellowship is to provide further

Myanmar to invite bids for additional telecom licences

2013-06-17T12:17:00.001+06:30

Need for 15,000 telecom towers, thousands of kilometres of fibre optic infrastructure in country, says report. Enthused by bidder response for two telecom permits, Myanmar plans to invite participation for providing Internet services and building a national fibre optic network. Telecommunications in the country is currently the preserve of Myanmar Posts and Telecommunications, and Internet

Myanmar seafood export to rise

2013-06-17T11:55:00.004+06:30

Myanmar's seafood export is expected to rise this year as the European Union (EU) is implementing a plan to import farmed seafood products from Myanmar following its removal of trade sanction on the country, official media reported Monday. The EU's planned import of Myanmar's seafood would help the country boost seafood export, said the New Light of Myanmar newspaper. Buyers from EU, the United

Coca-Cola to expand factory in 2013

2013-06-16T22:19:00.002+06:30

Giant soft-drink producer Coca-Cola, which recently re-entered Myanmar, is planning to expand the production lines in its Myanmar factory before the end of this year, said Aung Win, Commercial Director of Pinya Manufacturing Co. Ltd. Coca-Cola is a joint venture with Pinya Manufacturing Co. Ltd from Myanmar. “At present, our production line is short. If we manufacture a product, we have to halt

Myanmar to take foreign tenders

2013-06-16T21:54:00.000+06:30

Myanmar is to accept tenders from foreign companies for its ambitious "mega city" project in northern Yangon, an official said Sunday. "Tenders from both local and foreign companies will be called soon," said an official at the Yangon City Development Committee’s city planning and land administration department. "These tenders will be for the construction of buildings such as hotels, shopping

Decades-old bets in Myanmar's tech industry finally reap rewards

2013-06-15T13:05:00.003+06:30

It may have taken almost two decades, but Tun Thura Thet’s investment in one of Asia’s poorest countries is finally paying off. “I’ve been waiting here for 17 years to have this moment,” he said, sitting at his office in Yangon, Myanmar. “After 10 or 12 years, we almost gave up.” Tun Thura Thet is CEO of Myanmar Information Technology (MIT), one of the few software companies that managed to

India Firms to Bid for Myanmar Oil, Gas Blocks

2013-06-15T12:52:00.002+06:30

Three state-run Indian companies--ONGC Videsh Ltd., Indian Oil Corp. (530965.BY) and GAIL (India) Ltd. (532155.BY)--will bid for eight oil and gas blocks in Myanmar, Oil Minister M. Veerappa Moily said Friday. The move is part of India's plans to acquire oil and gas assets overseas to meet the energy-hungry nation's growing demand, the minister told reporters. The country meets about

After telecom license, Myanmar to invite bids for Internet services and fiber optic network

2013-06-14T15:53:00.003+06:30

Myanmar is planning to invite bids for providing Internet services and building a national fiber optic network. Myanmar has 14,000km of fiber and some 1,800 telecom masts. Myanmar, which is opening its telecom market for foreign telecom giants, has received overwhelming response from global mobile operator when they started the bidding process for two telecom licenses. For bagging telecom

Myanmar readmitted to EU trade scheme

2013-06-13T12:41:00.001+06:30

THE European Union has readmitted Myanmar to its trade preference scheme, saying it wants to support reform in the once pariah state through economic development. Myanmar's membership of the scheme was withdrawn in 1997 due to concerns over the use of forced labour under the then-military junta. But the EU said the International Labour Organisation had last year reported "necessary improvements

First private insurer starts business in Myanmar

2013-06-13T12:28:00.001+06:30

International Kanbawza (IKBZ) Insurance Company, one of the five private insurance companies granted licenses to operate in Myanmar in line with its financial reform policy, has started its services in Yangon, becoming the first private company of its kind to operate in the country, official media reported Thursday. The IKBZ, which began services on Wednesday, would provide international

SingTel touts satellite assistance to Myanmar

2013-06-12T21:06:00.000+06:30

Amid an ongoing tender for one of two sought after telcom licences in Myanmar, the SingTel consortium has highlighted plans to help develop the country's satellite capabilities and boost its international connectivity. In a statement on Tuesday, SingTel and its partners KBZ Group and Myanmar Telephone Company (M-Tel) claimed their bid far exceeded the government's tender requirements in many

Marriott plans first agreement for Myanmar hotel in 6 months

2013-06-12T12:24:00.003+06:30

Marriott International Inc., the largest publicly traded US hotel chain, expects to seal its first agreement for a property in Myanmar in the next six months as the country opens its doors to foreign investors. “The company’s first hotel in the Southeast Asian nation will probably be a Marriott or Courtyard,” Asia-Pacific president and managing director Simon Cooper said. “It’s in four or five

Joint venture to build Yangon mega condo

2013-06-12T12:19:00.002+06:30

Plans are underway to build a 27-floor high-rise in Yangon to meet a growing demand for luxury apartments as Myanmar starts to attract more foreign investment and capital. The condominium will be built in joint-venture between Living Square Co. Ltd. from Myanmar and companies from Australia, Japan and Thailand and will include a shopping centre, fitness centre and coffee shop complete with a

Offshore oil and gas blocks for bidding to open

2013-06-12T12:14:00.004+06:30

Myanmar will open tender for at least 20 new blocks of oil and gas before next year, the minister of energy told the World Economic Forum on East Asia on Thursday June6. Currently the ministry has opened tenders for a total of 30 blocks in which 11 are inshore blocks and the rest are offshore ones. The recent tenders will be closed on June 14. The energy sector is the one of the most important

Riding on Myanmar's growth via S'pore-listed companies

2013-06-12T10:34:00.003+06:30

For those keen to profit from Myanmar's boom, direct investment opportunities are limited. DBS Vickers Securities said an alternative worth considering is to invest in Singapore-listed firms with exposure to Myanmar. Tan Ai Teng, vice president of equity research at DBS Vickers, said: "You can still consider exposure into the country via Singapore companies who are expanding quite nicely into

The First Myanmar Business Adventure Book: "People I met at the Puk"

2013-06-11T22:45:00.001+06:30

The "People I met at the Puk" is a series of witty short stories from a young Australian Entrepreneur. Brief and to the point, the stories depict the trials and tribulations faced in Myanmar Post sanctions in 2012. For more information on the content and how to purchase, please CLICK HERE