Yangon Plans Another Flyover to Relieve Traffic Congestion

The government has announced plans to construct a new flyover in Yangon’s Insein Township that will allow cars to pass over the railway track and relieve busy traffic in the area, state-run media reported. The project will construct a new two-lane flyover that will cost about US$6 million, Myo Zaw Too, engineer at Myanmar Railways […]

Gov’t enacts bill to allow fair competition

The government has announced in the state media that it will implement a Competitiveness Bill on May 11 to allow fair competition and prevent speculation. The bill consists of 12 chapters and 53 sections and allows for organising inspection commissions when necessary. Section 14 prevents confining the distribution of services and goods and restricts price […]

Public Shares in Thilawa SEZ to Go on Sale Next Month

YANGON — Myanmar Thilawa SEZ Holdings Public Ltd announced it will issue shares for sale next month in order to raise about US $21 million to fund the first phase of the Burmese-Japanese Thilawa Special Economic Zone (SEZ) near Yangon. Set Aung, a government official who chairs the Thilawa SEZ Management Committee, and Win Aung, […]

Deadline set for Myanmar’s timber exports

The Forest Department of Myanmar has recently announced a deadline for raw log exports through Yangon ports. The deadline is midnight on March 31, according to the department. It will allow timber to be loaded onto ships docked at Yangon ports until that time. As of April 1, the government will only allow the export […]

Orange inks roaming agreement with MPT

The France-based telecom giant Orange has extended its roaming service to Myanmar after signing an agreement with Myanma Posts and Telecommunications (MPT) in December, an MPT official told The Myanmar Times on January 2. The agreement enables visitors to make calls with foreign SIM cards, and also allows phones with MPT SIM cards to work […]

2014 Promises to Be a Boom Year for Myanmar’s Gas and Oil Industry

Myanmar will be the focus of attention in the international oil and gas industry in 2014 as a batch of major offshore exploration licenses are awarded and more blocks are expected to be put up for foreign bidding. Against that background, Myanmar is to host two major international oil industry exhibitions in Yangon to attract […]

Shangri-La to invest $115m on new hotel

Hong Kong-based Shangri-La International Hotel Management has announced an investment of US$115 million to build a 350-room Lakeside Shangri-La hotel near Kandawgyi Lake. The hotel, which will be located near the Shangri-La residences that were opened recently, will be the second, after Traders Hotel, to be operated in Yangon by Shangri-La. The ground-breaking ceremony was […]

ADB to Loan $60 Million for Myanmar’s Electricity Network

YANGON — In a push to develop Myanmar’s national power grid, the Asian Development Bank (ADB) has offered a US$60 million loan to improve access to electricity in four divisions. Some 480,000 households in Yangon, Mandalay, Sagaing and Magway divisions will see access to a more reliable electricity supply through the loan, ADB said Monday. […]

Chevrolet opens new centre in Myanmar

Chevrolet has opened a Brand Experience Centre and is launching a three-tier corporate social responsibility (CSR) campaign as part of its unique entry strategy in its newest market of Myanmar. Chevrolet earlier announced that it would enter that country by appointing Pacific Alpine Myanmar as its exclusive distributor. Pacific Alpine Myanmar plans to establish a […]

Ayeyarwady ATMs in Myanmar accept MasterCard, Maestro/Cirrus

Myanmar’s Ayeyarwady Bank has announced that its automated teller machines will accept cash withdrawals by customers using MasterCard and Maestro/Cirrus cards. This means more ease and convenience for the million visitors expected to converge on Myanmar during the 27th Southeast Asian Games to be held in Nay Pyi Taw from December 11-22. AYA Bank has […]