Reposted from South China Morning Post
Buildings go up in Yangon, where infrastructure is unable to keep up with breakneck development.
By Charlotte So
Deficiencies in infrastructure are holding back progress in realising the country’s huge potential, but they’re also golden opportunities
Myanmar’s backward infrastructure threatens to create a bottleneck, holding back the country’s rapid development. But for Hong Kong companies fresh from helping transform mainland China over the past 30 years, it adds up to opportunity.
The 320-kilometre bus ride from the commercial centre of Yangon to Naypyidaw, the new capital carved out of the jungle by the junta in the past decade, takes 6-1/2 hours. But traffic jams are not to blame for the slow pace. On the contrary, traffic is only seen occasionally on the main route between the old and new capitals. Rather, substandard construction techniques are to blame for the slow, sometimes bumpy ride. More…
Reposted from Bloomberg
By Daniel Ten Kate
In western Yangon, prices have inflated about 450 million kyat ($523,000) per acre
On a tree beside a crumbling road in Myanmar’s biggest industrial estate, Thein Oo hangs plastic sheets, part of the trash he collects and sells for recycling to support his wife and five children. More…
Reposted From Financial Times
By Jake Maxwell Watts
Serge Pun creates an air shuttle service between Yangon and Naypyidaw, the new capital.
Myanmar has undergone significant reforms in the last year, putting it firmly on the tourism and business agenda. But aside from economic and political changes, merely providing the means for foreigners to visit is a significant challenge, even as Myanmar begins to receive considerable international investment. More…
Reposted from Sovereign Individual
Shwedagon Pagoda, Yangon, Myanmar
By Jeff D. Opdyke
Dear Sovereign Investor,
There are no motorcycles in Yangon.
Not a one. Anywhere.
That makes this Asian city unique. Bangkok, Jakarta, Phnom Penh, Shanghai … even Myanmar’s capital of Nay Pyi Taw… are all overrun by motorbikes and scooters. The legend here is that a motorcycle hit an army general’s car five years ago, and in turn he immediately outlawed the two-wheelers in the city. More…
Reposted from The Straits Times
By Hans W. Vriens
WITH the United States and the European Union suspending sanctions against Myanmar, Western companies are rushing to invest in a country they were forced to leave half a century ago. Myanmar is South-east Asia’s final frontier. There is almost a stampede to be the first into this country of 60 million. But aspiring investors are in for a rough ride. Myanmar is the most challenging investment climate in Asia with the exception of North Korea. General Ne Win’s 1962 coup closed the borders, nationalised the economy and kicked several hundred thousand Indians out of the country, many of them entrepreneurs and shopkeepers. More…
Reposted from The China Post
By Kyoko Hasegawa
TOKYO — As Myanmar prepares for an economic resurgence following the end of decades of military rule, wide-eyed firms from all over Asia are competing for a piece of the potentially lucrative pie.
With largely untapped natural resources, including minerals, metals and fossil fuels, and a tourism sector left in ruins by sanctions, Myanmar sparkles with opportunity. More…
Originally posted by AFP
YANGON: Two of Asia’s biggest stock exchanges are fighting for dominance in the world’s hottest new frontier market as investors beat a path to Myanmar following the end of decades of military rule.
The operator of the Tokyo Stock Exchange announced last month a deal with Myanmar’s central bank to open a stock market in the country formerly known as Burma along with Japan’s Daiwa Securities, after years of discussions. More…
Reposted from The New York Times
By Thomas Fuller
NAYPYIDAW, Myanmar — When he addresses Myanmar’s Parliament on Monday, Ban Ki-moon, the secretary general of the United Nations, plans to urge Western nations to lift or suspend their remaining sanctions against the country.
Mr. Ban will be the first foreigner to address the Parliament since at least the beginning of military rule in 1962. A new Constitution and moves toward political liberalization have revived the legislature, which was moribund for decades. More…
Reposted from Bloomberg
David Cameron meets with Aung San Suu Kyi
By Gonzalo Vina and Svenja O’Donnell
U.K. Prime Minister David Cameron took the first steps by a Western leader to end Myanmar’s political and economic isolation by calling for an easing of sanctions to encourage further moves toward democracy.
Speaking alongside Nobel Peace Prize laureate Aung San Suu Kyi, Myanmar’s opposition leader, at her lakeside home in Yangon today, Cameron said the European Union should suspend rather than abolish sanctions apart from an arms embargo at an April 23 meeting. That would reward the military-backed leadership for changes so far while maintaining pressure on the government. More…
Reposted from CRIENGLISH.com
Prime Minister Nguyen Tan Dung and Myanmar President Thein Sein
Myanmar and Vietnam vowed to step up mutual cooperation in the sectors of agriculture, livestock, trade, investment, communications and transport.
Strengthening economic ties were the priority when Myanmar President U Thein Sein met with Vietnamese Foreign Minister Pham Binh Minh in Nay Pyi Taw Monday who was on an official visit to Myanmar since the weekend at the invitation of his Myanmar counterpart U Wunna Maung Lwin. More…