Garment boom raises rents

An increase in garment manufacturing and demand for storage space is pushing up rental prices on industrial land. “Rents in industrial zones that host garment manufacturing and goods storage are up,” Myanmar Real Estate Services Association vice chair U Than Oo told The Myanmar Times this week. “It’s happening in nearly all zones. The rental […]

Rakhine Industrial Zone to Hasten Construction

Now that the national grid can provide full electricity supply, Ponnarkyun Industrial Zone in Rakhine state will be developed as fast as possible, the state government said. The zone, which will be constructed on a 1,833.5 acre plot of land, will include 160 feet wide six-lane roads, 80 feet-wide four-lane roads and 60 feet-wide two-lane […]

Electricity Rate Hike Could Hurt Competitiveness, Raise Consumer Prices

YANGON — Last week, Parliament approved a government proposal to introduce a long-expected hike in electricity prices per April 1. Business sector representatives now warn that the measures will undercut the competiveness of Burmese industries and lead to a rise consumer prices. Under the new plan, for households using under 100 kilowatt hours, or units, […]

Electricity price hike set for April 1

In an effort to reduce state spending, the Pyidaungsu Hluttaw last week voted to move forward with a plan to increase the price of electricity as of April 1 for households by as much as 42.8 percent for units used over a certain threshold, parliament announced last week. Though households will still pay K35 per […]

IFC to help improve Yangon electricity supply

The Ministry of Electrical Power and the International Finance Corporation (IFC) signed an agreement to improve Yangon’s electricity supply on February 26. The IFC aims to help to transform Yangon Electricity Supply Board (YESB) into a corporation within three years. “The IFC will provide financial aid in addition to technical before fully transform it into […]

Fish exports set to take a dive

Poor investment prospects and production could lead to a US$100 million shortfall in estimated fisheries exports this year, industry experts said. Fishery exports during the 2012-13 fiscal year totalled about $650 million worth of fish being sold to China, Thailand and as far as the Middle East and US, according to government data. This year […]

Uneven development stifling Myanmar

Anyone arriving today at Mingaladon Airport and driving toward the center of Yangon would find it hard to imagine that just a few years ago Myanmar was an isolated country – poor, underdeveloped and labeled by the US as an “outpost of tyranny.” At the start of the 21st century there were few cars on […]

Philips Links With Partners to Light Up Myanmar

YANGON — Dutch electronics giant Philips has teamed up with local partners to bring more of its products to Myanmar, as the brand looks to take advantage of the Southeast Asian nation’s growing demand for lighting. In a ceremony in the former capital Monday, the 120-year-old firm signed up with three companies who will distribute […]

About 170 MW of electricity needed to supply power to industrial zone

Myanmar will need about 170 megawatts of electricity to provide power to industrial zones in the coming summer season, said Minister for Electric Power Khin Maung Soe. The minister added that more than US$ 160 million (Ks 155.83 billion) is required to supply power for projects in industrial zones. In the summer season this year, […]

Investors avoiding fisheries

Foreign investors are staying away from Myanmar’s fisheries industry due to a lack of infrastructure and the prospect of prolonged returns, experts said. According to figures released last week by the Directorate of Investment and Company Administration (DICA), the fisheries and livestock sector has attracted just US$347.474 million between 26 companies, representing a mere 0.79 […]