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Myanmar Business News in Brief

Zhulian operations to kick off next month

Malaysia-based multi-level marketing firm, Zhulian Corporation Bhd, is set to begin its Myanmar operations next month, Malaysian media reported. Group Managing Director Teoh Meng Keat said the firm has obtained an import licence from the Myanmar government for its consumer goods to enter the country.

Melia moves into Myanmar

Spanish hotel chain Melia Hotels International has announced plans to launch its first ever hotel in Myanmar. Scheduled to open in the fourth quarter of 2015, the Melia Yangon will feature 429 rooms and suites, a spa, restaurants and meeting space. The hotel will form part of a mixed-use complex being developed by HAGL Myanmar.

Australia, Singapore to strengthen Myanmar’s national standards body

Australia and Singapore have joined hands to strengthen Myanmar’s capacity to participate in national and international standards development under the International Organization for Standardization (ISO) Institutional Strengthening (INS) Project for Myanmar. This is the first joint standards-related project by Australia and Singapore to build institutional capacity in a third country in collaboration with ISO.

Myanmar parliament to be open for visitors

Myanmar’s parliament building in Naypyitaw will be officially open to both local and foreign visitors as part of the Ministry of Hotels and Tourism’s plan to promote tourism in the country’s capital, local media reported. However, there are strict conditions and approval procedures, which will require the visitors to use a local travel agency or a contact to gain clearance to visit the building.

Gov’t to hold gems emporium to boost sales

The Ministry of Mines is set to hold the 52nd Myanmar Gems Emporium in Naypyitaw in June-July this year to boost gem sales and has invited local and foreign merchants to attend the expo. In the 51st Myanmar Gems Emporium last July, total sales reached $3.4 billion. The record-breaking sale, which was $1 billion more than that of the previous event, saw the auction of over 6,000 jade lots, 126 gem lots and 224 pearl lots.

Myanmar, Norway jointly conduct fishery survey

Experts from Myanmar and Norway are jointly conducting fishery survey in Myanmar waters and exclusive economic zone, aimed at establishing a national fishery research and management system, official media reported. The mapping of the marine environment in Myanmar waters aboard a Norwegian research vessel RV Dr Fridtjof Nansen was carried out as part of the EAF-Nansen project between the Norwegian Agency for Development Cooperation and the Institute of Marine Research of Myanmar and the UN Food and Agriculture Organization, the Fishery Department said.

Thai agency may provide $119 million for Dawei road

Thailand’s Neighbouring Countries Economic Development Cooperation Agency (NEDA) is considering a soft loan of about Bt4 billion ($119.2 million) to Myanmar to finance the construction of a 138-kilometre two-lane road from Dawei in Myanmar to Phu Nam Ron in Kanchanaburi province, Thai media reported. Construction is expected to commence next year. The road would boost trade and investment between Myanmar and Thailand and between Asean nations and Japan, said NEDA director Newin Sinsiri. The loan period is likely to cover 30 years with a three-year drawdown. The exact interest rate is still under consideration, but is likely to be close to the 2.5 percent per annum.

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