Weekly Business News from Myanmar

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  21 Foreign Firms Sign Deals to Develop Thilawa SEZ

  A total of 21 foreign companies and one local firm have signed contracts with Myanmar to develop the Thilawa Special Economic Zone (SEZ) on the outskirts of Yangon.
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  Thilawa share price rises by 66 per cent

  The price of Thilawa SEZ shares had risen by 66.7 per cent to Ks 15,000 (US$15) apiece, as of October 1.
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  Mon Gov’t Suspends Feasibility Study of $2.7-b Thai Coal Power Plant

  The Mon state government announced that is has suspended a feasibility study being conducted by Thailand’s Toyo-Thai Corporation for the development of a coal-fired power plant in An Din village in Yay township in the southern part of the state.
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  Myanmar awards licenses to 9 foreign banks from

  Wednesday's announcement is part of economic reforms implemented after the country emerged from a half-century of dictatorship. It ends a ban on overseas lending institutions.
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  KBZ Awarded “Best Bank in Myanmar” by Euromoney

  UK-based financial magazine, Euromoney, has named Kanbawza (KBZ) Bank the best bank in Myanmar for 2014.
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  Overland Trade Up $720m

  Myanmar’s overland trade through border hubs has seen a $720.2 million, or 41.2 percent, increase during this fiscal year until the first week of September compared with the same period last year, according to the Ministry of Commerce.
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  Auto Import Tariff Earnings $90 Million in Three Years

  The authorities have collected a total of K90 billion ($90 million) in tariffs from automobile imports into the country during the last three years, according to the Ministry of Commerce.
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  Upgrade of Yangon circular railway to cost $700 million

  The Ministry of Rail Transportation will spend more than US$700 million to upgrade Yangon’s circular railroad, according to its estimate.
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  MoU Inked: Korean Investment

  Union of Myanmar Federation of Chambers of Commerce and Industry and Korean counterpart SCCI signed a Memorandum of Understanding for trade promotion.
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  ASEAN-Japan bilateral trade reaches $240.9billion in 2013

  Union Minister for NPED Dr Kan Zaw joining hands with ASEAN economic ministers as a gesture of integration in ASEAN region.