Though many big names from the United Kingdom have hopped the pond – and two continents – to enter Myanmar, there is room for trade and investment between the two countries to grow. The Myanmar Times speaks with UK Trade and Investment CEO Catherine Raines, who calls the Southeast Asian nation’s market a fantastic opportunity, though not always easy to navigate, and says now is the time to take the plunge.
In a bid to speed up trade flows, the Ministry of Commerce is taking the lead in setting up a revitalised one-stop service (OSS) to deal with imports and exports in Yangon and at the country’s border trading posts.
BMW will hold its first Myanmar expo today showcasing over 20 different vehicles from across the BMW group. The company’s new hybrid electric sports car will also be on show, although local motor enthusiasts will not be able to buy the car in Myanmar.
A huge backlog of industrial machinery and vehicles that was licenced for import across the Muse and Myawaddy border points is being permitted to cross, according to a Ministry of Commerce official, after the authorities placed a bar on imports across several border stations late last year.
The Directorate of Investment and Company Administration (DICA) announced this week it had removed some 2600 firms from its registered companies list because the firms did not let DICA know whether or not they were still operating.
An integral part of China’s new charm offensive is the hosting of regular expenses-paid visits by journalists from Asian countries to tour its industrial achievements in Beijing and other cities.
Tizit beach does not seem like the site of a multi-billion-dollar industrial showdown.
Toyota has launched the latest version of its Fortuner model in Myanmar and is considering opening a production factory if sales of its cars in the country rise, according to the firm’s Myanmar representative.