• Burmese
Thursday, July 10, 2025
No Result
View All Result
NEWSLETTER
The Irrawaddy
25 °c
Yangon
  • Home
  • News
    • Burma
    • Politics
    • World
    • Asia
    • Myanmar’s Crisis & the World
    • Ethnic Issues
    • War Against the Junta
    • Junta Cronies
    • Conflicts In Numbers
    • Junta Watch
    • Fact Check
    • Investigation
    • Myanmar-China Watch
    • Obituaries
  • Politics
  • Business
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Stories That Shaped Us
    • Letters
  • Junta Watch
  • Ethnic Issues
  • War Against the Junta
  • In Person
    • Interview
    • Profile
  • Books
  • Donation
  • Home
  • News
    • Burma
    • Politics
    • World
    • Asia
    • Myanmar’s Crisis & the World
    • Ethnic Issues
    • War Against the Junta
    • Junta Cronies
    • Conflicts In Numbers
    • Junta Watch
    • Fact Check
    • Investigation
    • Myanmar-China Watch
    • Obituaries
  • Politics
  • Business
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Stories That Shaped Us
    • Letters
  • Junta Watch
  • Ethnic Issues
  • War Against the Junta
  • In Person
    • Interview
    • Profile
  • Books
  • Donation
No Result
View All Result
The Irrawaddy
No Result
View All Result
Home Business

WEEKLY BUSINESS ROUNDUP (Saturday, June 9)

William Boot by William Boot
June 9, 2012
in Uncategorized
Reading Time: 3 mins read
0 0
A A
1.9k
VIEWS
Share on FacebookShare on Twitter

Paris Group Says China Still Active on Myitsone Dam

The International Commission on Large Dams (ICOLD) has denied reports in the Chinese media that it is involved in assessing the safety of the suspended Myitsone hydroelectric dam project. However, the Paris-based organization confirmed that the state-owned China Power Investment Corporation (CPI) is still active in the project despite the suspension ordered by the Burmese government last September.

“ICOLD follows UN rules respecting national sovereignty,” it said in a statement. “It issues recommendations on the state-of-the art of dam engineering but it does not have any operational role in dam building.

RelatedPosts

‘Reforms Are Not Optional’: Prominent Activist Urges NUG to Act Before It’s Too Late

‘Reforms Are Not Optional’: Prominent Activist Urges NUG to Act Before It’s Too Late

July 9, 2025
263
Myanmar Junta’s Top Russian Arms Supplier Tosses in Quake ‘Donation’

Myanmar Junta’s Top Russian Arms Supplier Tosses in Quake ‘Donation’

July 9, 2025
275
Trump’s Tariffs to Hit Myanmar’s Garment Manufacturers Hard

Trump’s Tariffs to Hit Myanmar’s Garment Manufacturers Hard

July 9, 2025
374

“The builder of the Irrawaddy Myitsone dam project in Myanmar has directly asked experts coming from countries with long-term experience in building and operating large dams to assess its work.”

ICOLD also disclosed that Burma has applied for membership of the body, which describes itself as a “forum for the exchange of knowledge and experience in dam engineering.”

“CPI is making a mockery of the dam suspension,” the Kachin Development Networking Group said. “They’ve refused to pull out of the dam site, and now they’re bringing in global dam technocrats to challenge the suspension.”

Thai Oil Firm Expands Burma Interests

Thailand’s state-owned oil and gas giant PTT Group is stepping up its investment in Burma.

Its exploration subsidiary PTTEP has signed agreements to drill in two onshore blocks in the Irrawaddy valley, and PTT said it plans to establish a chain of roadside fuel retailing stations in the country.

“No major [fuel retail] brands have yet been established in Myanmar. This is a good chance for PTT to set up there,” chief operating officer Nuttachat Charuchinda announced.

“We have looked at Myanmar as a high-potential market, with oil consumption per capita still very low,” said Nuttachat.

Demand for liquefied petroleum gas (LPG) in Burma is only 10,000 tonnes a year compared with 200,000 consumed in Thailand each month, said PTT.

Meanwhile, PTTEP has joined a little-known Burmese firm called Win Precious Resources to explore two large areas west of Naypyidaw. One block is 13,300 square km, PTTEP said.

“[Burma] is one of our focus countries in upstream petroleum, and we’re also preparing gas development plans for its central government,” PTTEP chief executive Tevin Vongvanich said in a statement.

Little if anything is known about Win Precious Resources other than that it is linked with Singapore. Under new rules for Burma’s oil and gas sector, foreign investors must take on a Burmese partner.

Stiglitz Warns Burma of ‘Natural Resource Curse’

Prominent international economist Joseph Stiglitz has urged the Burmese government to establish a sovereign fund to manage all the country’s profits from oil and gas.

Such a fund would help ensure the revenue benefits the whole country’s development and not become lost in what has become known as the “resource curse.”

“Many countries with large natural resources have not done well. They’ve not done well in terms of growth, equity, poverty reduction, and so much so that this is called the natural resource curse, and we’ve studied the causes and what can be done about it,” the Nobel prize-winning economist told CNBC news.

Income from oil and gas is expected to rise steadily as Burma opens up and more foreign investors move into to explore and develop energy resources.

Sovereign wealth funds are usually state-owned and involve long-term international investment in stocks, property, precious metals or solid businesses, such as utilities, to maximize profitability on capital.

Korean Firm Signs MoU on Rangoon Power Plant

South Korean industrial firm BKB has signed an MoU to build a 500 megawatt gas-fueled power plant in the greater Rangoon area.

If the plan goes ahead, it will increase Burma’s electricity-generating capacity by almost one-third.

The plant, planned for Tharkayta Township “could be completed in about one year,” the New Light of Myanmar claimed. However, no start date has been announced.

The paper said the MoU also involved a firm named Hexa International, which is listed as a Burmese importer of second-hand vehicles.

200 Foreign Firms to Attend Rangoon Business Summit

Organizers of a business “summit” in Rangoon later this month say more than 200 foreign companies have registered to take part.

One-quarter of participants are from financial institutions and investment business, said the Centre for Management Technology (CMT) in Singapore, while another 22 percent are from the agricultural sector.

Another 18 percent of those registered to take part are from the oil, gas and power industries.

The New Myanmar Investment Summit is being held on June 21-22 in Rangoon and keynote speakers are billed from the Burmese government’s newly formed Directorate of Investment and Company Administration, part of the Ministry of National Planning and Economic Development.

The focus of the conference will be detailed explanations of the country’s new foreign investment rules and land reforms plans, said CMT.

Your Thoughts …
William Boot

William Boot

Similar Picks:

Exodus: Tens of Thousands Flee as Myanmar Junta Troops Face Last Stand in Kokang
Burma

Exodus: Tens of Thousands Flee as Myanmar Junta Troops Face Last Stand in Kokang

by Hein Htoo Zan
November 28, 2023
98.5k

Myanmar National Democratic Alliance Army troops are opening roads and pathways through forests for people to flee Kokang’s capital as...

Read moreDetails
Burning Alive in Myanmar: Two Resistance Fighters Executed in Public
Burma

Burning Alive in Myanmar: Two Resistance Fighters Executed in Public

by The Irrawaddy
February 7, 2024
89.8k

People’s Defense Force says junta troops told every household in the village to send one member to witness the double...

Read moreDetails
Another Entire Junta Battalion Raises the White Flag in Myanmar’s Northern Shan State
War Against the Junta

Another Entire Junta Battalion Raises the White Flag in Myanmar’s Northern Shan State

by The Irrawaddy
November 29, 2023
87.1k

Brotherhood Alliance member says it now has complete control of Kokang’s northernmost section after the junta’s Light Infantry Battalion 125...

Read moreDetails
Depleted Myanmar Military Urges Deserters to Return to Barracks
Burma

Depleted Myanmar Military Urges Deserters to Return to Barracks

by The Irrawaddy
December 4, 2023
59k

The junta said deserters would not be punished for minor crimes, highlighting the military’s shortage of troops as resistance offensives...

Read moreDetails
As Myanmar’s Military Stumbles, a Top General’s Dissapearance Fuels Intrigue
Burma

As Myanmar’s Military Stumbles, a Top General’s Dissapearance Fuels Intrigue

by The Irrawaddy
April 19, 2024
47k

The junta’s No. 2 has not been seen in public since April 3, sparking rumors that he was either gravely...

Read moreDetails
Enter the Dragon, Exit the Junta: Myanmar’s Brotherhood Alliance makes Chinese New Year Vow
Burma

Enter the Dragon, Exit the Junta: Myanmar’s Brotherhood Alliance makes Chinese New Year Vow

by The Irrawaddy
February 12, 2024
44.8k

Ethnic armed grouping says it will continue Operation 1027 offensive until goal of ousting the junta is achieved. 

Read moreDetails
Load More
Next Post
Border-based Groups Adapt to Burma's Changing Political Landscape

Border-based Groups Adapt to Burma's Changing Political Landscape

Tense Calm Returns after Latest Outbreak of Violence in Arakan State

Tense Calm Returns after Latest Outbreak of Violence in Arakan State

No Result
View All Result

Recommended

37 Years and Counting: Why Has Myanmar’s Democracy Struggle Taken So Long?

37 Years and Counting: Why Has Myanmar’s Democracy Struggle Taken So Long?

7 days ago
1.3k
China’s Surveillance State Watches Everyone, Everywhere

China’s Surveillance State Watches Everyone, Everywhere

2 days ago
674

Most Read

  • Chin Resistance Tensions Boil Over as CNA Seizes Rival’s Myanmar HQ

    Chin Resistance Tensions Boil Over as CNA Seizes Rival’s Myanmar HQ

    shares
    Share 0 Tweet 0
  • Myanmar Junta Starves Last Rakhine Strongholds as AA Closes In

    shares
    Share 0 Tweet 0
  • Trump’s Tariffs to Hit Myanmar’s Garment Manufacturers Hard

    shares
    Share 0 Tweet 0
  • China’s Surveillance State Watches Everyone, Everywhere

    shares
    Share 0 Tweet 0
  • Myanmar Junta’s Top Russian Arms Supplier Tosses in Quake ‘Donation’

    shares
    Share 0 Tweet 0

Newsletter

Get The Irrawaddy’s latest news, analyses and opinion pieces on Myanmar in your inbox.

Subscribe here for daily updates.

Contents

  • News
  • Politics
  • War Against the Junta
  • Myanmar’s Crisis & the World
  • Conflicts In Numbers
  • Junta Crony
  • Ethnic Issues
  • Asia
  • World
  • Business
  • Economy
  • Election 2020
  • Elections in History
  • Cartoons
  • Features
  • Opinion
  • Editorial
  • Commentary
  • Guest Column
  • Analysis
  • Letters
  • In Person
  • Interview
  • Profile
  • Dateline
  • Specials
  • Myanmar Diary
  • Women & Gender
  • Places in History
  • On This Day
  • From the Archive
  • Myanmar & COVID-19
  • Intelligence
  • Myanmar-China Watch
  • Lifestyle
  • Travel
  • Food
  • Fashion & Design
  • Videos
  • Photos
  • Photo Essay
  • Donation

About The Irrawaddy

Founded in 1993 by a group of Myanmar journalists living in exile in Thailand, The Irrawaddy is a leading source of reliable news, information, and analysis on Burma/Myanmar and the Southeast Asian region. From its inception, The Irrawaddy has been an independent news media group, unaffiliated with any political party, organization or government. We believe that media must be free and independent and we strive to preserve press freedom.

  • Copyright
  • Code of Ethics
  • Privacy Policy
  • Team
  • About Us
  • Careers
  • Contact
  • Burmese

© 2023 Irrawaddy Publishing Group. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • Burma
    • Politics
    • World
    • Asia
    • Myanmar’s Crisis & the World
    • Ethnic Issues
    • War Against the Junta
    • Junta Cronies
    • Conflicts In Numbers
    • Junta Watch
    • Fact Check
    • Investigation
    • Myanmar-China Watch
    • Obituaries
  • Politics
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Stories That Shaped Us
    • Letters
  • Ethnic Issues
  • War Against the Junta
  • In Person
    • Interview
    • Profile
  • Business
    • Economy
    • Business Roundup
  • Books
  • Donation

© 2023 Irrawaddy Publishing Group. All Rights Reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.