Fighting for Resources
Since independence Myanmar has long been plagued by civil war between its national army, the Tatmadaw, and ethnic armed groups vying for political autonomy and control of natural resources. National reconciliation and peace have always been key priorities for the incumbent government, and State Councillor Aung San Suu Kyi is no exception. At the heart of the conflict lies Myanmar's untapped natural resources, fuelling armed groups' political ambitions. The recent Global Witness Report showed Myanmar to have had huge black market jade revenues of USD 31Bn (50% of GDP) in 2014, much of which is mined in Kachin state in the north of the country where the Kachin Independence Army (KIA) wrestles for control with the Tatmadaw. This single jade industry figure from Global Witness is estimated to be 5x the value of the entire extractive industry as reported by the government to EITI.
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Business & Investment
Funds sought for outdated factories
Foreign and domestic investors are being invited to put their money in factories lumbered with outdated equipment. The government says it has no funds to help companies buy new plants, because its priorities are education and healthcare. Read more
Foreign trade rises Myanmar's foreign trade has passed US$6 billion since the new government took office, according to U Yan Naing Tun, director general of the Directorate of Trade, under the Ministry of Commerce. Read more
Myanmar rice price falls as Chinese demand slows
A new king has been crowned at Yangon International Airport. Global fast-food giant Burger King opened its doors in Terminal 1 on July 1 - marking its first entry into Myanmar.
MIC to remain under ministry control Myanmar's new government will not allow the Myanmar Investment Commission to become an independent entity, but the MIC is planning to amend its policies to relax investment restrictions and direct more capital flows into manufacturing, its secretary U Aung Naing Oo has said. Read more
BIDV to help boost Vietnamese investment Bank for Investment and Development of Vietnam (BIDV) is planning to boost Vietnamese investment into Myanmar once its new branch starts operating later this month, the bank officials said. Read more |
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| - GDP - USD 59.4Bn
- GDP Growth - 8.5%
- Population - 51.41Mn
- Inflation - 8.39%
- Bank Deposit - 8%
- Bank Lending - 13%
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July- 8 | 1,172.0 | June-7 | 1,172.0 | June-6 | 1,173.0 | June-5 | 1,175.0 | June-4 | 1,179.0 | Wk Change % | -0.4% |
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The Ronoc Myanmar Investors News Letter informs current and prospective Myanmar-related investment professionals on the recent business news highlights from Yangon, adding in-depth, contextualised analysis from the ground.
In addition to this News Letter, we also offer cutting edge Consulting and Advisory Services including bespoke Research Reports covering areas from industry specific, political, economic and investment analysis. Feel free to contact us to further discuss these opportunities. Sincerely, Oliver Belfitt-Nash |
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Ronoc is an investment and advisory firm established in 2007. We specialise in emerging markets, retail banking and have offices in New York, London, Dublin, Yangon and Ulaanbaatar. Through our extensive experience of working and investing in the emerging markets, we have developed strong local networks and tailored strategies for operating in challenging political and economic settings. |
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