Construction Business Saddled by Debt, Competition

The construction business, a capital-intensive industry, is struggling as many developers have gone into severe debt, developers said at a conference. At a forum on the situation of the construction industry held at UMFCCI, U Ko Ko Htwe, a major property developer who runs Taw Win Construction Company, claimed, “We are about K20 billion in […]

Japan ‘Making Up for Lost Time’ in Burma

Japan will lend Burma US$504 million and will cancel $1.74 billion of Burmese debt as part of a series of weekend deals that included a pledge to push development of a proposed port and commercial zone at Thilawa, a half-hour drive from downtown Rangoon, Burma’s commercial capital. Making the first visit by a Japanese prime […]