Thein Sein discusses development with Japanese PM Abe; Burma, WHO partner in Measles-Rubella vaccination campaign; TEEMA to invest $456 million in southern Burma; Japan to lend $285 million for development projects
BUSINESS in BURMA THIS WEEK: Rangoon hotel market looks to continue record growth; Kyaukphyu SEZ master plan near completion; Telenor reaffirms Burma link with executive appointment; and the sale of Thilawa leasehold rights begins.
Business in Burma this week: Offshore oil and gas block bidding war – the winners announced; Japan pledges more development aid; Mitsubishi to open branch in Rangoon; Thilawa to vet potential investors; and Manchester United sign Burmese sponsorship deal.
Japanese Premier Shinzo Abe plans to pledge 60 billion yen (US$580 million) in loans to Burma, chiefly to help it build infrastructure, at an upcoming summit with President Thein Sein, a Japanese government source told Kyodo News.
BUSINESS in BURMA this WEEK: China offers tax breaks on Burmese gas; foreign banks to be allowed limited operations in Burma; construction begins at Thilawa industrial zone; telecoms giants ink deal; and new proposals for the Rangoon skyline.
Boeing to provide 737s to Air Mandalay; Jalux, Mitsubishi to run Mandalay airport; Amara Bank introduces new scheme after blacklist scare ; Singapore now Burma’s top investor (or is it USA?); Demurrage fees to increase at Burmese ports;
Akie Abe, the wife of Japanese Prime Minister Shinzo Abe, gave a speech at the “Myanmar Festival 2014” in Tokyo on 18 October urging Japan’s business leaders to think of Burma as a potential long-term business partner rather than a source of cheap labour.
The Japan International Cooperation Agency rejects allegations that it betrayed its own guidelines on “environmental and social considerations” in the Thilawa SEZ, in which it has a 10 percent equity stake.