The sudden recognition by Washington of four Burmese banks—one owned by a man accused by the US of arms and drugs trade—appears to have been more than coincidence immediately before a top-level American business team arrived in Rangoon.
It may have eased the handshake meeting on Monday between US Assistant Secretary of State for Economic and Business Affairs Jose Fernandez, and Win Aung, the president of the Union of Myanmar Federation of Chamber of Commerce and Industry (UMFCCI).
Win Aung is on a US government blacklist of Burmese company leaders dubbed cronies of the former military regime who benefited financially from close relationships with army-controlled businesses.
That blacklist got a little whiter just ahead of the visit by Fernandez, who heads up a 50-strong US business delegation in Burma this week. One of the four private banks approved by Washington for use by American business, Asia Green Development Bank, is owned by Tay Za, who in the past has been accused by the US of involvement in weapons, drugs and money laundering, and remains on the Washington blacklist.
Tay Za heads the conglomerate Htoo Trading, whose business interests range through mining, agriculture, hotels and an airline.
CLMV’s economic growth crashes to two-decade low due to COVID-19
The COVID-19 crisis has caused the rate of economic growth in the CLMV bloc to be at its lowest in two decades, the CLMV economies could grow at 3.4 percent this year
Marketing and investment strategies in Myanmar, India
To encourage Thai SME operators to enter the international market, the Office of Small and Medium Enterprises Promotion (OSMEP) aims to urge them to invade Myanmar, Cambodian, Chinese and Indian markets.
BANGKOK, 26 July 2019 (NNT) – To encourage Thai SME operators to enter the international market, the Office of Small and Medium Enterprises Promotion (OSMEP) aims to urge them to invade Myanmar, Cambodian, Chinese and Indian markets.(more…)
Thailand pushes CLMVT as the “New Value Chain Hub of Asia”
The Ministry of Commerce, in cooperation with 11 relevant agencies, hosted the CLMVT Forum 2019 with delegates from Cambodia, Laos, Myanmar, Vietnam, and Thailand
BANGKOK, 24 June 2019 (NNT) – Thailand’s Prime Minister, Gen. Prayut Chan-o-cha, today attended the opening of the CLMVT Forum 2019, and urged its member countries to push for the development of the CLMVT Regional Value Chain, so that they can have more bargaining power and improve the well-being of their citizens.(more…)
Thailand approves COVID-19 AstraZeneca vaccine for emergency use
The first lot of 50,000 doses of COVID-19 vaccine developed by AstraZeneca will arrive in Thailand early next month, after...
Interprovincial travel in Thailand amid COVID-19 controls
The State Railway of Thailand (SRT) is suspending 57 additional train services from 26 January, 2021, as part of the...
Covid-19 puts flexible space markets under strain
In the wake of operator defaults, landlords will be forced to re-evaluate the role of flexible space in their portfolios.
Thailand to put world’s largest floating solar farm into use this June
The facility, which generates power on a water surface of 72 hectares, was originally scheduled for operation in December last...
TAT launches virtual tours to 4 top destinations in Thailand
Once inside an attraction, visitors can move around using the cursor, while some of the attractions have information about its...
Thailand’s automotive sector expected to produce 1.4m cars this year
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