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Myanmar Business Roundup (August 30, 2014)

investment Myanmar business container terminal solar power plant jewelry trade

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China and Burma Cooperate on Border Jade and Jewelry Market

Burma’s northern town of Muse is cooperating with Ruili directly across the border in China to promote a new jade and jewelry market, according to the state-run Chinese news agency Xinhua.

Production and sales of Burmese jade have skyrocketed in the last three years. The value of exports in the 2013-14 fiscal year soared to about US$1 billion from $34.2 million in the 2011-12 year, according to figures from the Ministry of Economic Development in July. The black-market trade is estimated to be several times higher than the official figures.

The jade market will be part of the Muse economic zone now under construction and scheduled to open in 2015, Xinhua said. It includes hotels, offices, market areas and the region’s biggest bus station, according to the Chinese news agency.

“[Chinese] jade carving expert Liu Dong told reporters that the general economic environment for the Chinese jewelry and jade market had cooled off, which means the jade companies of Ruili must transform themselves to upgrade their business,” Xinhua reported.

“The new jade market will regulate and promote the structural adjustment of the jade market, pushing for its rationalization.”

Xinhua quoted the director of the cultural industry office in Ruili, Lu Yan, as saying the Muse economic zone “will bring new opportunities to the jewelry industry of Ruili.”

British Company Sells Aircraft Refueling Trucks to Rangoon Airport

A British airport services firm has won a contract to supply aircraft refueling vehicles to Rangoon International Airport.

Flightline Support Limited in Oxford will provide two 20,000-liter refueling trucks in a deal that was assisted by Britain’s Ministry of Trade and Investment and the British Embassy in Burma, said managing director Ray Harris in a company statement.

Harris said he also visited the embassy and was advised on developing business links with state-owned Myanma Petroleum Products Enterprise (MPPE) and the Ministry of Energy.

“They open so many doors and give so much advice and support,” Harris said of his dealing with the British Ministry of Trade and Investment.


Read full report: http://www.irrawaddy...st-30-2014.html

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