Reposted from The Financial Times
By Gwen Robinson
At midnight on the roof terrace of The Street Bar & Restaurant in central Yangon, a DJ mixes rhythmic Myanmar rap with western club vibes. The fashionably-dressed clientele, local and foreign, lounge on sofas, sipping exotic cocktails.
The buzz at this popular new hangout reflects remarkable changes in the city’s atmosphere since President Thein Sein took office early last year, ushering in new freedoms alongside economic reforms. Before then, this area, like many parts of the former capital, was deserted by 9pm.
More significant are changes embodied by The Street’s five young owners, all locals in their 20s, who pooled their savings to start the business. After graduating in business management in Singapore, the five returned to Yangon to establish companies ranging from consumer goods distribution to IT services. [...] – Please visit the Financial Times’ website for the full article.
Photo credit: http://www.picsfrom.com
Reposted from DFDL (Legal & Tax)
A detailed review of the MFI Law by parliament
Burma’s Union Parliament has finally passed a much awaited foreign investment law, which has now been signed into law by President Thein Sein (the “MFI Law”) and published in local newspapers on November 3, 2012. More…
Reposted from Global Times
Mitsuibishi Corporation, Marubeni Corporation and Sumitomo Corporation will take a 49 percent share in Thilawa SEZ
Myanmar is planning to set up seven more local industrial zones in addition to the existing 18 of its kind in the country, official media reported Wednesday.
The seven planned new industrial zones will be Tatkon in Nay Phi Taw, Yadanarbon in Mandalay, Hpa-an, Myawaddy and Phayathonzu in Kayin state, Ponnagyun in Rakhine state and Namoum in Shan state, the Ministry of Industry was quoted by the New Light of Myanmar as saying. More…
Reposted from The Economist
ACLEDA’s total loan portfolio is worth over $1 billion, about 23% of all the lending in the country
AN HOUR’S drive south of Phnom Penh, deep in rural Cambodia, Chrek Heang is doing the rounds of his rapidly expanding poultry and fisheries business. Just four years ago he was living, like most of his countrymen, in a small wooden hut with a tin roof, tending to 1,000 chickens. More…
Reposted from China Economic Net
Japan has reached an agreement with Myanmar government to establish a special economic zone (SEZ)
Three Japanese industrial and economic groups have reached an agreement with the Myanmar government to jointly establish a special economic zone (SEZ), Thilawa, in Yangon’s Thilawa Port, local media Voice reported Sunday. More…
Reposted from the New York Times
Written by Victoria Burnett
Nearly two years into the Cuban government’s economic overhaul aimed at slashing public payrolls and bolstering private enterprise, the reforms have slowed so much that many Cuban entrepreneurs and intellectuals are questioning the aging leadership’s ability — or will — to reshape one of the world’s last Communist systems and shift nearly half of the island’s output to private hands. More…
Reposted from The News International
Golden prospect for Bangladesh economy
By Mansoor Ahmad
LAHORE: Energy shortage, lack of government support, high duty, and higher labour costs have forced many Pakistani value added textile entrepreneurs to locate their manufacturing facilities in Bangladesh. More…
Reposted from Asia One
HANOI – Vietnam’s young, tech-savvy population is turning to the Internet to break out of an economic system stifled by decades of communist rule, leading to a boom in e-commerce.
Internet entrepreneur Thao Phuong earns twice as much money each month selling tropical fruit online to Hanoi housewives as she does from her day job working at a local post office. More…
the Haitian business delegation
Reposted from Caribbean Journal
A group of young Haitian businessmen traveled to Washington this week to hold talks with Albert Ramdin, Assistant Secretary General of the Organization of American States.
The delegation included investors in the tourism, manufacturing and transportation sectors. More…
Reposted from Foreign Policy
Pro-democracy leader, Aung San Suu Kyi
On April 1, citizens of Burma will head to the polls to vote in a parliamentary by-election. Normally, this isn’t the sort of thing that would attract a lot of headlines, since only a small number of seats in the National Assembly are actually at stake.
But these are no ordinary elections. President Thein Sein has actively invited the participation of the National League of Democracy, Burma’s main opposition party — the first time the NLD has participated in an election since the national vote in 1990 that it won in a landslide. (Burma’s military dictatorship subsequently annulled the result.) Given her immense popularity, NLD leader and Nobel Peace Prize laureate Aung San Suu Kyi is almost certain to win a seat. More…