Farmers to be compensated for land lost to Myotha Industrial Park

U Kyaw Myint, Mandalay Region Minister for Electric Power and Industry, told Mizzima that the Mandalay Region government will coordinate with farmers over their confiscated farmland as part of the implementation of the Myotha Industrial Park project in Mandalay Region. “The region’s government will solve the farmland confiscation problems but not impossible issues,” the minister […]

Myanmar police officers injured freeing hostages in factory rally

YANGON: Nine Myanmar police officers were injured as they sought to free officials held hostage by dozens of angry workers demanding wages and compensation after their factory was shuttered, authorities said on Thursday (Sep 18). More than 150 former staff descended on the Master Sport shoe facility on the outskirts of Yangon on Tuesday, demanding […]

Insurance companies warned to follow rules or lose license

The Insurance Scrutiny Board has threatened to revoke the licenses of private insurance companies if they are found guilty of breaking rules and regulations. An amount of US$ 46 million needs to be deposited with the Myanmar Economic Bank to establish a private insurance company. 60 percent of the sum is used for company operations […]

Lobby petitions Japanese investors over Dawei

With the Japan-ASEAN summit approaching, a local rights group is calling on Japanese investors to back away from the controversial Dawei Special Economic Zone (SEZ) until international best practices for compensation and environmental protection are established. The government last month suspended all work on the multi-billion dollar SEZ until it can undergo a due diligence […]

Myanmar to construct 2 cargo wharves at Thilawa with ODA loan

Yangon – Japan is agreed to provide assistance to two new general cargo wharves with US$205 million loan from Official Development Assistance (ODA) for constructions at the Myanmar International Terminals Thilawa (MITT) port. “We will construct two new wharves at Thilawa port using a loan from ODA with the supervision of ministry of transport,” said […]

Natural Beauty Blighted by Myitsone Dam, Locals Say

MYITSONE, Kachin State — Sitting along the banks of the Irrawaddy River, Hseng Khun takes a break from her work to point out a white sign bearing a cross. “At the top of that hill, we used to pray every morning. That’s a very important site for us. We respect it. We even planned to […]

Thailand PTTEP assures transparency in Myanmar investments

PTT Exploration and Production Plc (PTTEP) have given assurances that its five-year US$3 billion investment on oil exploration in Myanmar will be transparent. Tevin Vongvanich, PTTEP president and chief executive, said the US$3 billion allocation would be part of the company’s US$25 billion investment to produce 600,000 barrels of oil in 2020. The major portion […]

Telenor to sell SIM cards within eighth month of getting license

Norwegian company Telenor will start selling its SIM cards within eighth month of getting its license, Telenor CEO told reporters on Wednesday. “We are in negotiation with contractors to construct communication towers. We will install 2G and 3G mobile networks. The price of SIM card will be lower than 1,500 kyats,” said Petter Furberg, Telenor’s […]