Myanmar/Burma News

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that have been used in the blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Team Blogs
    Team Blogs Find your favorite team blogs here.
  • Login
    Login Login form
Posted by on in Business

Myanmar invests in a new future

The OECD Investment Policy Review of Myanmar is a timely guide for policymakers and investors hoping to help pave the way forward. By reviewing effective policy actions, and providing suggestions for the future, the text outlines opportunities and challenges ahead. The Foreign Investment Law of 2012, for example, is praised for extending legal protections to foreign investors. In the future, however, new frameworks must also incorporate the principle of non-discrimination, easing sector and product-based restrictions on foreign investors while measuring the effectiveness of existing joint-venture requirements.

Attracting lasting investment in agriculture is another priority of the Myanmar government. New land registration laws as well as generous tax incentives are set to draw in businesses, though the OECD recommends greater harmonisation of legislation and the development of rural infrastructure as more sustainable solutions.

Great progress has also been made through policies to encourage responsible business conduct. Myanmar re-entered the International Labour Organization in 2012, following new legislation that criminalised the exaction of forced labour, and permitted the organisation of labour unions. The new Labour Dispute Settlement Law further establishes workers’ rights protections, while a minimum wage stands recognised after 2013. Social impact and environmental assessments are similarly required of all businesses thanks to the Environmental Conservation Law of 2012. A strong precedent has now been set for the gradual introduction and recognition of international standards of labour rights, environmental protection and responsible business conduct.

OECD (2014), OECD Investment Policy Reviews: Myanmar 2014, OECD Publishing.

© OECD Observer No 299, Q2 2014




Hits: 70
0
Posted by on in Business

Best Western set to open new hotel in Myanmar

image
Mandalay Palace

BANGKOK, 1 days ago

Best Western International has embarked on the latest stage of its expansion in Myanmar, with the signing of its first ever hotel in Mandalay.
 
Scheduled to open in the third quarter of next year, the new midscale Best Western WESTERN hotel will feature 108 rooms, all equipped with amenities including LCD TVs and complimentary WiFi, said a statement.
 
Glen de Souza, vice president of International Operations for Asia and the Middle East, said: “Myanmar has made remarkable progress in recent years and Best Western is delighted to be able to continue our development in the country.
 
“Since launching last year, Best Western Green Hill Hotel has experienced strong demand from both international business and leisure travellers. We see huge potential in Myanmar and plan to develop a network of hotels across the country. The signing of our first hotel in Mandalay is a key step towards achieving this.”In addition to the midscale properties in Yangon and Mandalay, Best Western has also planned to launch a luxury Best Western Premier hotel in Myanmar’s capital Nay Pyi Taw.
 
“At present Myanmar is experiencing a strong level of new hotel development, but much of this is concentrated in the higher ends of the market. With Best Western’s 70 years of experience in the international midscale sector, and a choice of products that can be tailored to different markets, we have the opportunity to create new demand and drive business across the country,” De Souza said.
 
The new hotel in Mandalay will join the company’s existing portfolio of almost 200 hotels and resorts either operating or under development across Asia and the Middle East, including 86 in Southeast Asia, he added. - TradeArabia News Service
Hits: 73
0
Posted by on in Business

Myanmar: 34th ASEAN Tourism Forum

Travel and Tourism Industry response for next year’s ASEAN Tourism Forum (ATF) has been positive, with over 350 TRAVEX (travel exchange) booths contracted and some 550 applications for the Hosted Buyers Program.

The TRAVEX sellers, made up of suppliers of ASEAN travel and tourism products and services, come from the 10 member nations of ASEAN – Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam – and together will take up 8,000 square metres of space.

ATF aims to promoting ASEAN as a single destination and hosting of the event is rotated among the member countries each year.

Participation from host country Myanmar is at an all-time high. U Phyoe Wai Yar Zar, Chairman of Myanmar Tourism Marketing (MTM), said, “The local hoteliers, tour operators and other players in the industry are very much looking forward to next year’s event, this being the first time that ATF is coming to Myanmar. It will be our opportunity to share our country’s rich history and culture with the rest of the world.” MTM is a non-governmental, non-political and non-profit organisation that functions as the marketing arm of Myanmar Tourism Federation, under the guidance of the Ministry of Hotels & Tourism of the Republic of the Union of Myanmar.

Accor, the world's leading hotel operator and market leader in Europe and Asia Pacific, which is participating in ATF 2015 as a TRAVEX seller, is optimistic about Myanmar’s tourism future. Mr Philippe Battle, Accor’s Area General Manager for Myanmar, said, “Myanmar is a promising market and a new frontier for us in Asia. We have one hotel open in Myanmar – MGallery The Lake Garden Nay Pyi Taw, and a Novotel resort in Inle Lake scheduled to open by October 2014, followed by a Novotel hotel in Yangon. Next year’s ATF in Myanmar will help showcase the country’s potential and we are confident that we will see a rapid growth in bookings in the years to come.”

Backed by major companies
Local Myanmar conglomerates have also shown strong support for ATF 2015. To-date, the organising committee has secured sponsorship from private banks, multi-industry conglomerates and Myanmar’s newest international and domestic airline.

Official Bank Partner: C B Bank
Official Tourism Partners: KBZ Group, Htoo Group, Max Hotels Group
Supporting Airline: Golden Myanmar Airlines
The signing ceremony between representatives of the sponsors and organiser of ATF 2015 took place at Royal Ace Hotel in Nay Pyi Taw earlier today. Said U Thein Htwe, Vice Chairman of C B Bank, “It is an exciting time for Myanmar, and for our local tourism industry. We are delighted to be a part of it by supporting ATF as its exclusive official bank partner.”

U Khin Aung Htun, Joint Secretary of Myanmar Tourism Federation, the organiser of ATF 2015, said, “We are very pleased to have the backing of the local private sector companies for ATF and are confident that together with the support of the Myanmar government and all other industry players, ATF 2015 will be a highly successful event and a milestone for our country.”

In addition, Cable News Network (CNN) has confirmed their support for ATF 2015 as its Official Broadcast Media and will jointly promote the event with the organiser. CNN will also host a luncheon for the tourism ministers and heads of National Tourism Organisations (NTOs) of ASEAN and other Asian countries during ATF 2015.

International standard MICE venue
The official venue for ATF 2015 has been confirmed as Myanmar International Convention Centre (MICC) 1. The key components of the official ATF 2015 programme, such as TRAVEX and ASEAN Tourism Conference, will be held at the newly completed 60,000 square metre exhibition and convention centre. The venue has hosted numerous national level meetings and international business events, including the recently concluded 24th ASEAN Summit.

Themed ‘ASEAN – Tourism Towards Peace, Prosperity and Partnership’, ATF 2015 will be held from 22 to 29 January in Nay Pyi Taw, Myanmar. It is hosted by the Ministry of Hotels and Tourism of the Republic of the Union of Myanmar, organised by Myanmar Tourism Federation and managed by MP Singapore and Myanmar Ventures Group. Limited exhibition space is available and those keen to participate are advised to apply online (www.atf-2015.com) as soon as possible. Application for the Hosted Buyer and Media Programmes will close on 15 October.

Hits: 97
0

Posted by on in Business
Best Western expands in Myanmar
226173

Mandalay Palace by Hybernator. Image credit: Wikimedia.

Best Western acquired its very first hotel in Mandalay as part of its expansion in Myanmar.

The new midscale BEST WESTERN property will feature 108 rooms comfortably equipped with all the international standard amenities including LCD TVs and complimentary Wi-Fi.

The group’s expansion in Myanmar originated in 2013 with the opening of the BEST WESTERN Green Hill Hotel in Yangon, which made Best Western the first US-based hotel group to re-enter Myanmar since the country opened up to the international community.

“Myanmar has made remarkable progress in recent years and Best Western is delighted to be able to continue our development in the country,” said Best Western International vice president of international operations for Asia & Middle East Glenn de Souza.

“Since launching last year, BEST WESTERN Green Hill Hotel has experienced strong demand from both international business and leisure travellers. We see huge potential in Myanmar and plan to develop a network of hotels across the country. The signing of our first hotel in Mandalay is a key step towards achieving this,” Mr. de Souza said.

Best Western has previously announced plans to launch a luxury BEST WESTERN PREMIER hotel in Myanmar’s capital Nay Pyi Taw, in addition to the midscale properties in Yangon and Mandalay.

Mr. de Souza believes that the three Best Western products (midscale BEST WESTERN, upscale BEST WESTERN PLUS and luxury BEST WESTERN PREMIER) have a great potential for success in Myanmar.

“At present Myanmar is experiencing a strong level of new hotel development, but much of this is concentrated in the higher ends of the market. With Best Western’s 70 years of experience in the international midscale sector, and a choice of products that can be tailored to different markets, we have the opportunity to create new demand and drive business across the country.”

The new property in Mandalay will join the company’s portfolio of almost 200 hotels and resorts either operating or under development across Asia and the Middle East, including 86 in Southeast Asia.

 

Source = ETB News: Jessica Handyside

Hits: 138
0

PetroleumBRUNEI won the bid for onshore block in Myanmar

BANDAR SERI BEGAWAN:Brunei National Petroleum Company Sdn Bhd (PetroleumBRUNEI) has officially been awarded an onshore block in Myanmar after having signed a contract with Myanmar Oil and Gas Enterprise Pte Ltd (IGE) yesterday, Brudirect reported.

The signing of the Production Sharing Contract (PSC) was carried out at Myanmar’s Grand Amara Hotel in Nay Pyi Taw yesterday where it was witnessed by Pehin Datu Singamanteri Colonel (Rtd) Dato Seri Setia (Dr) Awg Hj Md Yasmin Hj Umar, Brunei’s Minister of Energy at the Prime Minister’s Office (PMO) and U Zay Yar Aung, Union Minister at Myanmar’s Ministry of Energy.

The signatory for PetroleumBRUNEI was its Managing Director and CEO, Dato Paduka Hj Matsatejo Sokiaw, while MOGE Managing Director U Myo Myint Oo and IGE Managing Director Than Win Swe signed on behalf of their respective organisation.

PetroleumBRUNEI was awarded Block EP-1, the onshore Kyaukkyi-Mindon area on November 19 2013 after participating in the 2013 Myanmar Onshore Bidding Round. The onshore block itself is located two hundred and fifty kilometer north of Yangon, covering an area of one thousand one hundred and thirty five square kilometer.

Brunei Minister of Energy said “In carrying out its operations in EP-1, PetroleumBRUNEI is committed to ensure high safety, environmental standards and to work alongside the local business community. PetroleumBRUNEI is committed to fulfill its obligations under the PSC to explore the block diligently and invest in any commercial discoveries”

Speaking to the Borneo Bulletin from Myanmar, Pehin Dato Hj Md Yasmin highlighted “PetroleumBRUNEI worked very hard for this. This is an international dealing. A number of international companies were bidding for this, not just from the region but also all the way from Europe. All the hard work from the people in PetroleumBRUNEI helped to do this”

He went on to explain that following this signing, PetroleumBRUNEI will be carrying out all the exploration activities in the block, including a seismic survey, environmental studies and assessments.

“The next two years will be for exploration. This will start as early as in the next five to six months”.

PetroleumBRUNEI will be managing the contracts, some of which will go to international contractors while there will also be opportunities for “capable Bruneian contractors”, he shared.

“There will be a number of tenders that some Bruneian companies can participate in” he said. Asked what this means for the Sultanate, the minister said, “It will generate income for PetroleumBRUNEI”

“We now have the opportunity to do business here,” he said, noting that the location of the block is very strategic. “The Mekong Delta has a very dynamic economy that is moving quite fast. It is a gateway to the big economies of China and India”

“Besides Myanmar, we have other investments in offshore fields in Sarawak, Malaysia and a shale gas project in Canada” said the minister in response to a question on other potential projects for PetroleumBRUNEI abroad.

 
Hits: 130
0
Sunday, September 21, 2014
English French German Italian Japanese Portuguese Russian Spanish

Most Popular

REG-Schlumberger Limited Schlumberger Announces Fourth-Quarter and Full-Year 2013 Results
Business
0
2C2P launches Myanmar’s first mobile POS (mPOS) solution “iACCEPT”, in collaboration with Inya Lake Hotel and The Strand Hotel
Business
0
Gauck pays tribute to Burma's Aung San Suu Kyi
Politics
0
Information Technology Consultant (International Technical Advisor), Yangon and Participating Townships, Myanmar
Jobs
0
Aung San Suu Kyi announces Myanmar opposition party to enter 2015 general election
Politics
0

Page-URL

QR-Code

Login Form