Kiwi to the rescue
I love whats coming out of Myanmar at the moment! lets just hope that progress continues and Myanmar has a happy future. The country has a massive potential to become a major player in SE Asia.
more: http://www.shanghaidaily.org/article/article_xinhua.asp?id=86792YANGON, Aug. 2 (Xinhua) -- The World Bank opened its first country office in Yangon's Inya Lake Hotel Wednesday, while preparing to grant 85 million U.S. dollars to support Myanmar's reform drive.
The World Bank's move signified a re-engagement with Myanmar by a world financial institution after decades-long non-engagement. World Bank Group Vice President for East Asia and Pacific Pamela Cox announced the grant at the opening of the office which was jointly made with Karin Finkeiston, International Finance Corporation Vice President for Asia and Pacific .
"The Bank is preparing to present to its Board up to 85 million U.S. dollars in grant to benefit men, women and children through community driven development programs which will allow communities to decide whether to invest in schools, roads, water or other projects," said a press release of the World Bank Group.
http://www.shanghaidaily.org/article/article_xinhua.asp?id=87025YANGON, Aug. 3 (Xinhua) -- Myanmar has outlined a master plan for monetary development which is to be implemented with the assistance of the World Bank, official media reported Friday.
Under the master plan, arrangement has been made to enact Foreign Exchange Management Law soon, Minister of Finance and Revenue U Hla Tun told a meeting held at the Central Bank of Myanmar in Yangon Thursday, reported the New Light of Myanmar.
The government will allow local private banks to set up joint- venture banks with foreign counterparts that have opened branches in Myanmar, he said, adding that committees have also been formed for development of capital market and plan is also underway to promulgate securities dealing bill soon.
more: http://www.shanghaidaily.org/article/article_xinhua.asp?id=87216YANGON, Aug. 4 (Xinhua) -- Myanmar has made a master plan for the monetary reform which is to be implemented with the assistance of the World Bank. The World Bank (WB) opened its first country office in Yangon Wednesday, announcing preparation to grant 85 million U.S. dollars to support Myanmar's reform.
The office is also involving International Monetary Corporation (IMC) and the Asian Development Bank (ADB). Under the master plan, Myanmar is to enact Foreign Exchange Management Law soon, Minister of Finance and Revenue U Hla Tun disclosed on Thursday, saying that the government will allow local private banks to set up joint ventures with foreign counterparts that have opened offices in Myanmar.
Foreign banks from Singapore, Bangladesh, China, France, Japan, Malaysia, Netherlands, Thailand, Cambodia, Brunei, Vietnam, South Korea, the United States and Britain have opened 20 representative offices in the country.
more: http://www.shanghaidaily.org/article/article_xinhua.asp?id=89068YANGON, Aug. 15 (Xinhua) -- Eight more American companies of the American Chamber of Commerce based in Singapore are seeking investment opportunities in Myanmar, official media reported Wednesday.
These companies include Caterpillar, Citibank, KraftFoods, GE Energy, Ford Motor Co, Bell Helicopter, Hewleft-Packard Corporation and Arrow Technologies Pte Ltd, said the New Light of Myanmar. A delegation of the American chamber of commerce, accompanied by U.S. Ambassador to Singapore David Adelman and new U.S. Ambassador to Myanmar Derek J. Mitchell, called on Myanmar Vice President Sai Mauk Kham in Nay Pyi Taw on Tuesday.
Discussions were focused on the investment opportunities for the U.S. companies in Asia in service, energy, electricity, transport, communications, health and production sectors of Myanmar, the report said.
more: http://www.shanghaidaily.org/article/article_xinhua.asp?id=89977BANGKOK, Aug. 20 (Xinhua) -- Myanmar could expand its economy by 7 percent to 8 percent per year for a decade or more and become a middle income nation by 2030 if its reforms stay on track, the Asian Development Bank (ADB) said in a report released here on Monday.
Analyzing the opportunities and challenges facing Myanmar after decades of isolation, the report "Myanmar in Transition" is ADB's first major assessment of the country since it began political and economic reforms in 2011. It noted that Myanmar is showing good potential for growth and could become one of the next "rising stars" in Asia.
If the government keeps a firm and lasting commitment to reforming, economically and socially, the country would follow the pace of Asia's fast growing economies and raise its per capita income to 2000 to 3000 U.S. dollars by the year of 2030.
more: http://www.japantoday.com/category/business/view/mitsubishi-corp-opens-office-in-myanmar-capitalTOKYO — Mitsubishi Corp said Wednesday it will establish a new office in Nay Pyi Daw, the capital city of Myanmar, on Sept 1.
Myanmar is rich in natural resources, and has the geographical advantage of sharing a border with China, India and other ASEAN countries. Its population of approximately 62 million forms a basis for further industrial development and carries high potential as a consumer market.