Rice bosses bemoan lack of investment

Myanmar’s agriculture sector faces development challenges and it received no significant inflows of foreign investment in the past five years, according to the Myanmar Rice Federation. The Directorate of Investments and Company Administration said agricultural foreign direct investment (FDI) was US$7.2 million during the 2015-16 fiscal year. The sector received US$138.8 million in 2010-11 and […]

Condo Law sent back to the drawing board

Weaknesses in the recently completed draft Condominium Law need to be addressed before it can be promulgated, according to officials from the Department of Human Settlement and Housing Department (DHSHD). Although it is targeted to become law this year, some in the industry have pointed to a number of problems with the current draft. Virtually […]

Construction on historic sports ground faces triple lawsuit

The protection committee for gardens and sports grounds will sue the Yangon Region Government, Myanmar Investment Commission, Yangon City Development Committee and Asia-Myanmar Consortium Development Company if they do not stop construction on Thein Byu sports ground. The committee told a press conference it would send notices to the organisations on June 12. “If the […]

Investment in Rice Milling Key to Boosting Export, Report Says

YANGON — A new World Bank report said Myanmar can greatly increase its agricultural exports if it can improve the quality of rice through investments in rice mills, while it should also reduce transport costs and formulate policies to support rice export and agricultural production. Myanmar’s reformist government aims to improve agricultural productivity and rice […]

Former Norway Envoy’s Telenor Move Raises Eyebrows

The May 16 announcement that Norway’s former ambassador to Myanmar, Katja Nordgaard, will soon take a position with Telenor, the majority state-owned Norwegian telecommunications firm that signed a lucrative deal with Myanmar’s government last year, has prompted concern from some quarters about the ethics of what they see as just the latest example of an […]

Condominiums not covered by Condo Law

Nearly all of Yangon’s recently constructed “condominiums” may not qualify as condominiums under the draft Condominium Law, according to Yangon City Development Committee engineering deputy director U Nay Win. The draft law has been submitted to the Pyithu Hluttaw, but it stipulates a condo must be built on freehold land or land that was granted […]

Growing pains hit Myanmar rice trade

The Myanmar Rice Federation (MRF) has stressed a need for tangible rice policies to keep abreast with industries in neighbouring countries. A longstanding ban on private rice exports was scrapped in 2010 under the former military junta, but the modernisation needs of Myanmar’s agricultural sector remain vast. The world’s largest rice exporter from 1961 to […]

Myanmar Payment Union Plans to Form Public Company

YANGON — Myanmar’s only card payment system, the Myanmar Payment Union (MPU), plans to become a public company before the end of this year, MPU general secretary Ye Min Oo said on Tuesday. Founded in 2011, MPU’s members include 18 local banks, three of which are state-owned. MPU set up the first ATM card payment […]

Myanmar Medical Association construction plan was automatically revoked—YCDC

According to City authorities, a recent controversial plan to build a high-rise business tower at the compound of the Myanmar Medical Association (MMA) was automatically cancelled due to code violations. The Yangon City Development Council has set two restricted zones for construction of high-rise buildings near Shwedagon Pagoda, one of Myanmar’s most famous landmarks. If […]

Fishing industry to cut Thai lines

Thai fishing boats will not be able to trawl Myanmar’s territorial waters from March 2014 when a current agreement expires, a spokesperson for the Myanmar Fisheries Federation said in a meeting last week. The decision follows a workshop held by the Ministry of Livestock and Fisheries concerning Thai fishing rights in Nay Pyi Taw last […]