CB Bank chair to open industrial zone

The chair of one of Myanmar’s largest banks is turning his hand to a new sector, with a plan to open Taungoo township’s first industrial zone, which he hopes will entice hundreds of thousands of migrant workers back to the area. Chair of Co-operative Bank U Khin Maung Aye also chairs the Kaung Myanmar Aung […]

Hmawbi residents in the dark over new city

Hmawbi township feels a long way from Yangon. Located just beyond the city’s northern limits, it is well known for supplying vegetables and fruit to the markets in Myanmar’s commercial capital. The main roads are busy but the area is rural and underdeveloped. Its tallest buildings are two six-storey towers beside the Hmawbi Myot Ma […]

Real estate prices in Yangon’s industrial zones fall

YANGON, Dec. 12 (Xinhua) — Real estate prices in industrial zones in Myanmar’s Yangon have been falling as un-utilized vacant plots and warehouses are faced with seizure under a recent ultimatum issued by the Yangon government, the semi-official Global New Light of Myanmar reported on Friday. The regional government set Feb. 1 next year as […]

Developers push for production materials to be made locally

The boom in construction has prompted local developers to press for the production of home-grown building materials. They say manufacturing steel and cement here instead of importing them could cut costs and create jobs. Recent economic reform have made construction sector the most developed sector of the economy, and attracted many foreign developers. “The construction […]

China tops investor list

China is the top investor in Myanmar so far this year, according to the Directorate of Investment and Company Administration. Until the end of October, total foreign investments exceeded US$50 billion, of which US$40 billion is operating in the country. Myanmar Investment Commission (MIC) is giving the green light to local and foreign companies in […]

Myanmar Relies on Foreign Investments to Draw Migrants, Refugees

Myanmar authorities are banking on foreign investments to generate jobs in a bid to woo back some of the country’s nearly 10 million migrant workers from neighboring countries. Senior officials from three ministries—home affairs; labor, employment and social security; and foreign affairs—held discussions with legislators last week to help check the current lack of employment […]

Dagon City 1 project gets prime land in Yangon

YANGON – A multipurpose residential project including office buildings, apartments and a five-star hotel will be built on military land near the Yangon Zoo. The project named Dagon City 1 is a joint venture between the Thukhayadana Company from Myanmar and the Marga Group, a coalition of experts and investors from Hong Kong, Korea and […]

Gap’s entry to Myanmar could bring more good tidings, MGMA says

Gap’s entry into Myanmar could attract more foreign buyers into the fledgling garment industry, thus improving work conditions and increasing employment for workers, the chairman of Myanmar Garment Manufacturers Association (MGMA) said on Monday. Retail giant Gap Inc announced on Saturday that they have started sourcing products from two South Korean-owned factories in Yangon, making […]

Myanmar to implement the ASEAN Economic Community by 1st Jan 2015

Myanmar plans to implement the ASEAN Economic Community (AEC) by January 1 of 2015, according to the Minister for National Planning and Economic Development. The Minister was speaking at the first day of the 24th ASEAN Summit being held in the capital Nay Pyi Taw. “AEC is the one of the programmes. We plan to […]

Foreign investment up by US$ 2 billion in first three months of 2014

Myanmar’s foreign direct investment increases by US$2 billion, of which $300 million goes to commodity production sector, in the first three months of this year. At the last year’s ending, foreign investment amounted to more than $44 billion. It rose to Bt$46 billion for this year’s first quarters, ending March 31. Investment funds have been […]