Weekly Business News from Myanmar

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  Over 4.5 million tourists are expected to visit Myanmar this year

  Over 4.5 million foreign tourists are expected to visit Myanmar in 2015, claimed the union minister for hotels and tourism.
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  Myanmar Thilawa Special Economic Zone Holdings Public Ltd will not sell additional shares for part A of the zone

  Myanmar Thilawa Special Economic Zone Holdings Public Ltd will not sell additional shares for part A of the zone, Managing Director Thein Han said.
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  Shell Myanmar Energy to spend USD 1.2 billion on offshore oil and gas exploration

  Shell Myanmar Energy is poised to spend US$1.2 billion on offshore oil and gas exploration and provide $61 million as a signature bonus to state-run Myanmar Oil and Gas Enterprise (MOGE) , the Energy Ministry has announced.
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  Myanmar Timber Enterprise has opened a tender for more than 3100 tonnes of hardwood logs, set for a February 20 to 23 sale

  The government banned exports of raw timber in 2014 in a bid to cut down on deforestation while aiding local saw mills with capturing more of the value chain.
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  Trade Website Eyes Linking Local Businesses with Overseas

  The Department of Trade Promotion is set to launch a website to share information and market data, according to Daw Thidar Win Htay, assistant general manager of the department.
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  The Asia Development Bank (ADB) and Myanmar have signed USD 80 million loan agreement to rehabilitate a major road to support economic development in Ayeyawaddy Delta

  The Asian Development Bank (ADB) and Myanmar signed an $80 million loan agreement to rehabilitate a major road to support economic development in the agriculturally rich but underdeveloped Ayeyarwaddy Delta.
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  Used cars make up 92% of the automobile market

  Used cars make up 92 percent of the automobile market in Myanmar while 89 percent of used car imports come from Japan, according to an online survey by an automotive website.
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  US companies have invested more than USD 2 million in Myanmar as of January 2015

  In January 2015, US companies invested over US$2 million in Myanmar, according to the Directorate of Investment and Company Administration (DICA).
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  UK show to highlight Myanmar investment opportunities

  UK Trade and Investment Burma and the British Chamber of Commerce are set to host the “Myanmar Investment Summit” in London on February 19 to showcase investment opportunities in Myanmar to British companies and investors.
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  Myanmar's GDP growth is expected to slow down to 7.8 percent in fiscal year 2014-2015 ending March 31, from 8.3 percent in 2013-14 fiscal year

  Myanmar's GDP growth is expected to slow down to 7.8 percent in fiscal year 2014-2015 ending March 31, from 8.3 percent in 2013-14 fiscal year