The head of the Myanmar Industries Association, U Zaw Min Win, is the new president of the Union of Myanmar Federation of Chambers of Commerce and Industry, following a long-drawn-out election on September 17.
Things are looking up for Yangon’s rice bowl. Residents of Kyauktan township, Yangon Region, have begun to look forward to a future in which agriculture alone is not the centre of their lives. Part of the reason is funding from the World Bank.
Air Asia says it’s eying a restart of flights to Nay Pyi Taw from Bangkok and has plans to soon fly to Bagan from the Thai capital as Myanmar becomes a more attractive destination for tourists, a senior official at the budget airline said last week.
Myanmar’s business sector has welcomed US plans to lift almost all remaining sanctions against the country and reinstitute special trade preferences, but some industries could find it hard to take advantage of the new environment.
A Yangon City Development Committee proposal to establish a business district in Yankin township has been met with mixed responses from local developers, with one firm suggesting the area is already too densely populated and would be better suited to residential development.
Myanmar’s top business body – the Union of Myanmar Federation of Chambers of Commerce and Industry – has settled a hard-fought internal argument over proxy voting, just days before the organisation holds a triennial election.
With State Counsellor Daw Aung San Suu Kyi set to meet US President Barack Obama in Washington today, many in Myanmar’s business community will be watching closely. The two are set to discuss US sanctions that have been in place for decades, and that investors are rearing to have removed.
Premature rolling back of sanctions could risk undoing progress made so far in Myanmar’s democratic transition, resources watchdog Global Witness has warned, urging that targeted sanctions on the corruption-riddled jade industry remain in place.