Thein Sein

Myanmar takes more measures in carrying out reform tasks 0

President Thein SeinSource: Mizzima

The Myanmar government cabinet has named four ministers at the President’s Office as coordination ministers to undertake the responsibility of coordinating between various ministries and state or region governments. More…

Myanmar’s 2015 stock exchange deadline at risk 0

Myanmar is opening next year for the Southeast Asian Games for the first time since 1969, and then becomes Asean chairman in 2014Source: Bloomberg

Myanmar is running behind schedule for starting a stock exchange by 2015 after delays in getting the legal framework in place, said an executive at Japan Exchange Group Inc., which is assisting on the project.

“We’re pressed for time,” Koichiro Miyahara, senior executive officer at Japan Exchange, said in an interview in Tokyo on Aug. 27. More…

Chinese premier meets Myanmar president on ties 0

Myanmar China FlagsSource: Xinhua

Chinese Premier Li Keqiang met with Myanmar President U Thein Sein here Monday on the sidelines of the 10th ASEAN-China Expo, which is set to run from Sept. 3-6 in Nanning, capital of south China’s Guangxi Zhuang Autonomous Region.

During the meeting, Li said it is of great strategic importance to strengthen China-Myanmar friendship under the background of complex international and regional situation. More…

World Bank to loan US$ 260 million to Myanmar 0

myanmarSource: Eleven Myanmar

World Bank Group will lend a total of US$261.5 million to Myanmar for infrastructural projects, according to the President Thein Sein.

Myanmar cleared its decades-old debts to World Bank with the help of a bridge loan from Japan Bank for International Cooperation in January. More…

Myanmar’s elite eager to invest in booming London real estate 0

rtx11n8gSource: International Business Times

While foreign investors have been keeping tabs on Myanmar’s rapidly evolving economy with its skyrocketing real estate market, Myanmar’s richest natives are taking their money out of the country and investing in upmarket properties in London.

Myanmar buyers accounted for just under 1 percent of all U.K. property sales valued at more than 2 million pounds ($3 million) in the past 12 months, Irrawaddy, a Thailand-based publication covering Southeast Asia, notes. That’s in the same range as buyers from Switzerland and Hong Kong, based on a survey published by PrimeResi, a journal covering the top-end of the U.K. residential property sector. More…

Myanmar's elite eager to invest in booming London real estate 0

rtx11n8gSource: International Business Times

While foreign investors have been keeping tabs on Myanmar’s rapidly evolving economy with its skyrocketing real estate market, Myanmar’s richest natives are taking their money out of the country and investing in upmarket properties in London.

Myanmar buyers accounted for just under 1 percent of all U.K. property sales valued at more than 2 million pounds ($3 million) in the past 12 months, Irrawaddy, a Thailand-based publication covering Southeast Asia, notes. That’s in the same range as buyers from Switzerland and Hong Kong, based on a survey published by PrimeResi, a journal covering the top-end of the U.K. residential property sector. More…

Myanmar Risks Getting Old Before Becoming Rich, OECD Report Says 0

images (2)Reposted from Bloomberg
By Sharon Chen

Myanmar may start aging earlier than its neighbors, increasing the urgency for its leaders to implement policies that optimize economic growth, according to the Organization for Economic Co-operation and Development.

The Southeast Asian nation with an estimated 59 million people has a population structure like China’s in the 2000s, signaling it’s approaching the point where the share of working-age citizens starts declining, an OECD report showed. By contrast, Cambodia and Laos will probably see their proportion of workers continue to rise, it said. More…

Myanmar Foreign Investment Reached $42 Billion From 32 Countries, Production And Hotel Sectors Favored In June 0

A Myanmar citizen drinks a Coca-Cola produced in the country for the first time in more than 60 years.

A Myanmar citizen drinks a Coca-Cola produced in the country for the first time in more than 60 years.

Reposted from International Business Times
By Sophie Song

Foreign investment in Myanmar has now reached more than $42 billion from 32 countries. In June alone, the up-and-coming investment hotspot received $423 million in foreign investment, $379 million of which came from Thailand.

The 14 enterprises given permission to invest also came from four other countries: Singapore’s investment totaled $23.6 million; Britain invested $15.8 million; China $4.1 million, and India $9.6 million. More…

Myanmar’s Complex Transformation: Prospects and Challenges 0

Thien Sien_3Reposted from Chatam House

President Thein Sein Speech for Chatham House

Excellencies, distinguished guests, ladies and gentlemen:

I am extremely pleased to have this opportunity to address you at Chatham House today as part of my first ever visit to London and the United Kingdom.

As you all know, the histories of our two nations have been intertwined for over two centuries.

In the years that have followed independence we have had periods of good relations as well as more recently periods of difficult relations as well. More…

Myanmar to give central bank more autonomy 0

File photo of a Buddhist monk walking past newly-introduced ATM machines in Yangon, Myanmar.

File photo of a Buddhist monk walking past newly-introduced ATM machines in Yangon, Myanmar.

Reposted from Channel NewsAsia

Myanmar 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. More…

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