Reposted from Myanmar Business Network
Undaunted by the former sanctions regime, Myanmar’s home-grown garment industry is thriving, industry experts say. They attribute the success to the industry’s ability to cater to local tastes.
Over the past five years, local garment brands have been taking over more space because of their competitive price and good quality, some say. Unlike export-oriented businesses, they can employ and pay staff year-round without the need to wait for orders from overseas.
“We can pay the same wages throughout the year, without night-work and overtime, because we are operating the factory regularly. We know the tastes of Myanmar women and what kind of designs they prefer. Normally we copy the designs from Thai garments,” said Daw Sein Lae Lae, owner of Dear Brand garment factory in Shwe Pyi Thar township. The factory has more than 400 workers. More…
Reposted from Global Times
Aung San Suu Kyi
Foreign ministers of the European Union (EU) are due to meet in Luxembourg on Monday to make a decision to withdraw all sanctions against Myanmar, exactly a year after the regional grouping announced suspension of most sanctions against the country for a year except arms embargo.
EU’s expected total lifting of all sanctions against Myanmar in recognition of its significant reform process would boost EU’s investment in the country and further promote Myanmar-EU relations.
In March this year, Myanmar President U Thein Sein paid an 11- day goodwill visit to the five European countries of Norway, Finland, Austria, Belgium and Italy. The milestone trip has brought about enhancement of bilateral ties with the EU countries. More…
Reposted from EuropeanVoice.com
By Andrew Gardner
Foreign ministers will also discuss Mali and the Eastern partnership.
The European Union’s foreign ministers will next week (22-23 April) end most sanctions against Myanmar and are highly likely to increase support for rebels in Syria.
A proposal to support Myanmar’s move towards democracy will be rubber-stamped, with all sanctions, except on arms, being removed. There remains uncertainty about the rollback of Syrian sanctions, but only for technical reasons. At Germany’s suggestion, the EU would allow imports of Syrian oil, subject to the support of the rebel Syrian National Council, and could supply equipment to the energy sector in rebel-controlled areas. A more ambitious Anglo-French proposal to end the ban on arms for the rebels is not on the agenda. More…
Reposted from Mizzima News
Derek Tonkin of Network Myanmar
By Derek Tonkin
In her article, ‘Advocacy groups urge EU to maintain sanctions’, Rosie Gogan-Keogh suggested that this activist cabal might be seeking a delay in lifting the remaining sanctions. I think rather that they are seeking the continuance of their suspension. The sanctions were indeed all temporarily lifted in April last year, apart from the arms embargo and the restoration of benefits under the Generalised System of Preferences (GSP), which is being handled separately.
The advocacy groups make the case that none of the EU’s benchmarks for permanently lifting sanctions has yet been met and that it is important to maintain pressure. They base their case however on the latest mythology surrounding sanctions which is, as they say, that: “International pressure has clearly played a motivating role in the reforms currently taking place.” As a matter of ideology it is too much for some to accept that the former military regime might have been working to a plan all along. More…
Reposted from Eleven Myanmar
Except for the three banks still on the United States’ blacklist, all banks in Myanmar with permission to conduct international banking can make transactions with US companies, bankers here said.
They said that the recent removal of four Myanmar banks from the US blacklist created the misunderstanding that only those four banks could conduct transactions with US businesses.
Cooperative Bank managing director Pe Myint said sanctions differed from the blacklist. “Sanctions are imposed on the country, while certain individuals are blacklisted. Our bank has not been blacklisted, but sanctions apply to all the banks in the country,” Pe Myint said. More…
Reposted from iStockAnalyst
U.S. to provide financial considerations for Myanmar
WASHINGTON, Oct. 19 (UPI) — The U.S. government said it extended certain financial considerations to Myanmar in recognition for its ongoing political reforms. More…
Reposted from Energy Global
Mining sector’s contribution to Myanmar’s GDP was US$ 2.3 billion in 2000 and hit US$ 56.2 billion in 2010
The levels of industrial growth expected in Myanmar could potentially benefit every layer of society promoting employment opportunities and economic development, but this would require the country to adopt holistic development policies in order to compete with the numerous other middle income Asian nations. More…
Reposted from Bloomberg
By Erika Kinetz
Alisher Ali – CEO and Co-Founder of Mandalay Capital
YANGON, Myanmar (AP) — Alisher Ali knew on the morning of his second day in Myanmar that the long-closed country was a risk worth taking. More…
Reposted from The Economic Times
“We look forward to Myanmar’s planned Chairmanship of ASEAN in 2014″ – Ranjan Matthai (Foreign Secretary of India)
UNITED NATIONS: India has called for immediate phasing out of unilateral sanctions against Myanmar, emphasising that the international community should extend all possible support to Yangoon’s new civilian government to help accelerate economic development in the country that had faced economic isolation under years of military rule. More…
Zaw Zaw – One of the largest business tycoons in Myanmar and managing director of Max Myanmar
Reposted from Reuters
By Jason Szep
(Reuters) – As Myanmar implements reforms and foreign investors jet in, most find precious few ways to make money. There is no stock market. A new foreign investment law is delayed. And the biggest local companies are entangled in U.S. and European sanctions. More…