Thai companies urged to invest in Myanmar 'or miss out'

PETCHANET PRATRUANGKRAI THE NATION MANDALAY, MYANMAR THAI enterprises should not delay when considering business and trade opportunities with Myanmar, otherwise they may lose out to other foreign investors, said Aung Than, vice chairman to the Mandalay Chamber of Commerce in Myanmar. With the ASEAN Economic Community (AEC) scheduled to commence in 2015, Aung Than said many foreign investors, particularly those from China, were already in Myanmar looking to reap benefits from the country's new openness.  "Thais are still investing...

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Ford Motor to launch auto show room in Yangon

The Ford Motor Company will launch an auto show room, spare parts and services centre in Yangon in September, according to company officials. The centre will be located in Hlaing Township, in Yangon, displaying a variety of the latest Ford cars being sold around the world. The US-based automaker is popular in Myanmar and they aim to provide first rate services to customers. The Ford will sell and distribute Sedan, SUV and trucks in for the first time. Ford Motor Company joined hands with Capital Automotive Ltd and long partner of RMA to...

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US Treasury to reach debt ceiling in mid-October

The US Treasury Secretary Jack Lew has said that the country will reach its debt limit by mid-October and called on Congress to act "as soon as possible" to avoid such a situation. The government will not be able to borrow if the limit is not raised. He warned that in such a case it will be unable to meet obligations such as social security payments, military salaries and Medicare reimbursements. The country's borrowing limit is currently capped at $16.7tn (£10.7tn). "Extraordinary measures are projected to be...

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Worm fertilizer maker set to exportto Europe

Ekosol, a local company that produces organic fertilizer by using various worms, is set to begin exports to European countries next year, as its production has been making remarkable leaps forward since its foundation in 2009.Ekosol was founded in 2009 as its organic vermicompost fertilizer production doubled between 2010 and 2011 and tripled the following year, General Manager Burçin Karababa said in a recent interview with the Hürriyet Daily News. Karababa said her first encounter with the Californian red worms, which are used for producing...

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Deep-sea port to dock 300,000 tonne oil tankers on Madae Island

China has finished constructing a deep-sea port on Madae Island in Rakhine State, according to officials from the ports authority. The port will dock 300,000 tonne oil tankers as part of the Myanmar-China crude oil pipeline which is still under construction. The port was built in joint venture between China National Petroleum Corporation (CNPC) and the Ministry of Energy. "The deep seaport is reserved for 300,000 tonne oil tankers and 26 metres deep oil tankers," said an official from the Myanmar Ports Authority. Myanmar-China pipeline...

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Myanmar to use Indian bank loans for development

Myanmar will implement several projects with loans from the Export-Import Bank of India according to a government report. The Export-Import Bank of India (EXIM Bank) has provided loans of up to US$ 500 million which will be used on infrastructure projects including communications and transport. Details were released in the Myanmar government’s 2013-2014 fiscal year report. Some of the projects include the construction of a microwave station linking the southern and northern parts of Chin State, as well as the building of power stations,...

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Microsoft Establishes Presence in Myanmar

NAYPYITAW, Myanmar –  Technology giant Microsoft Corporation (MSFT) Thursday established a presence in Myanmar for the first time, forming an exclusive partnership with local firm Myanmar Information Technology as the central supplier for all of its products in the emerging market.The move represents the "first step" in Microsoft's plans for the market, with the company focusing on distributing its products rather than any manufacturing operations, Jamie Harper, president for new markets in Southeast Asia at Microsoft, said in an interview...

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Burma readmitted to EU trade scheme

By AFP & DVBThe European Union on Wednesday readmitted Burma to its trade preference scheme, saying it wanted to support reform in the once pariah state through economic development.Burma’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” to labour practices in Burma, which was formerly known as Burma.The Irish presidency of the EU and the president of the European...

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Burma to give central bank more autonomy

Burma is set to enact a new law in the coming days giving greater independence to its central bank, officials said Wednesday, in the latest economic reform aimed at enticing foreign investors. The new legislation was approved by lawmakers on Monday and is expected to be signed into law by President Thein Sein by this weekend, although the details have not yet been made public. “The significant thing is that the central bank will be an independent body and will not be under the finance and revenue ministry anymore,” a central bank official...

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Myanmar Stock Exchange To Launch After Security Exchange Law Passed

International Business Times By Sophie Song Myanmar will have its own stock exchange soon, according to the country’s deputy minister for finance and revenue, Maung Maung Thein. Preparations and implementations for the market are already underway. “Earlier we planned to begin in 2015, but it would be too late. So, we are beginning this year,” said Thein, according to Mizzima, a Myanmar news portal based in India. To establish the stock exchange, the Central Bank of Myanmar is cooperating with the Daiwa Institute of Research Group, a leading...

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ကိုးႏိုင္ငံ စီးပြားေရး သံမွဴးမ်ားႏွင့္ ခ်ိတ္ဆက္၍ လယ္ယာထြက္ကုန္ သီးႏွံမ်ား ေရာင္းခ်ႏိုင္ဟုဆို

မႏၲေလးၿမဳိ႕ေတာ္ရွိ လယ္ယာထြက္ကုန္ သီးႏွံမ်ား ျပည္ပသို႔ တိုက္႐ိုက္ တင္ပို႔ ေရာင္းခ်ႏိုင္ေရးအတြက္ ႏိုင္ငံေပါင္း ကိုးႏိုင္ငံတြင္ ခန္႔အပ္ထားေသာ စီးပြားေရး သံမွဴးမ်ားႏွင့္ ခ်ိတ္ဆက္ ေဆာင္႐ြက္ႏိုင္ေၾကာင္း ကုန္သြယ္မႈ ျမႇင့္တင္ေရး ဦးစီးဌာန ညႊန္ၾကားေရးမွဴးခ်ဳပ္ ဦးတိုးေအာင္ျမင့္ က ေျပာၾကား သည္။ မႏၲေလး ကုန္စည္ဒိုင္ႏွင့္ ဆန္စပါး ကုန္စည္ဒိုင္တြင္ ၾသဂုတ္လ ၂၄ ရက္ေန႔ နံနက္ပိုင္းက က်င္းပသည့္ ကုန္သြယ္မႈ ျမႇင့္တင္ေရး ေဆာင္႐ြက္ေနမႈ မ်ား ေဆြးေႏြးပြဲတြင္ ၎က အထက္ပါအတိုင္း ထည့္သြင္း ေျပာၾကား သြားေၾကာင္း အဆိုပါပြဲ တက္ေရာက္သူမ်ားထံမွ သိရသည္။ ေဟာင္ေကာင္၊ ဂ်ပန္၊...

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