Myanmar tycoon Tay Za greets students from a school supported by his Htoo Foundation in Putao

Source: Reuters - Fri, 21 Mar 2014 05:55 AM
Author: Reuters
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Myanmar tycoon Tay Za greets students from a school supported by his Htoo Foundation at the airport in Putao, Kachin State, in this picture taken December 13, 2013. Myanmar will ban the export of raw timber logs from April 1, 2014 choking off profits in a sector that provided critical funding to the country's former military rulers for decades, as a new reformist government steps up efforts to save forests. Tycoon Tay Za said his Htoo Group, engaged in businesses ranging from mining to tourism, grew from a humble start, based on a loan from his mother-in-law to set up a sawmill. Tay Za said he did not exploit connections to win concessions, which were allotted through a bidding process, but he did say his father served with top figures in the military, including Than Shwe, who ruled Myanmar from 1992 to 2011, while Tay Za was building his business empire. To match story MYANMAR-FORESTS/ Picture taken December 13, 2013. REUTERS/Jared Ferrie (MYANMAR - Tags: POLITICS BUSINESS ENVIRONMENT SOCIETY)