YCDC Threaten To Take Action Against Mya Kyun Thar Developers

Yangon City Development Committee (YCDC) has threatened to take action against those companies who do not cease construction and resubmit their proposals on developments at parkland beside the city’s Inya Lake. U Nay Win, deputy department head of engineering (building) at YCDC, told The Myanmar Times yesterday that YCDC had instructed firms working at Mya Kyun […]

More transparency needed from local business: MCRB

A select few Myanmar firms display a higher level of transparency than most of their ASEAN peers, but many large companies continue to show little interest in disclosure – even when legally required – according to a recent report from the Myanmar Centre for Responsible Business (MCRB). There is huge variation in the approach Myanmar’s […]

Overseas expansion plans heat up at Myanmar banks

Aya Bank plans to open representative offices overseas, while competitor KBZ Bank says it has applied to move into countries such as Japan and South Korea, in a sign that Myanmar’s banks are growing bolder in exploring overseas markets. If successful, AYA would become the second Myanmar lender to expand beyond national borders – KBZ became […]

In Burma, a Fine Line Between CSR and Karmic Cash

RANGOON — It was perhaps inevitable that Burma’s business sector would struggle with the idea of corporate social responsibility (CSR), operating in a country of high charitable giving and stark contrasts between its wealthiest and poorest citizens. At least in part, this stems from the reality that CSR, as a concept, has only caught on […]

Officials split over future of commercial projects on prime Yangon parkland

An outspoken Yangon City Development Committee member says he has ordered suspension of a number of construction projects on parkland beside the city’s Inya Lake, while the department responsible for contracting the companies says the projects are still going ahead. The decision in 2013 to allow eight companies to build commercial projects in Mya Kyun […]

Foreign business takes stock of the NLD

As Myanmar prepares itself for historic elections in November, Daw Aung San Suu Kyi’s National League for Democracy (NLD) encourages voters to “vote for change”, a slogan that has left investors worried about what that would mean for their businesses. The uncertainty about the NLD’s economic policy stems largely from a campaigning environment in which […]

Accor hotels set for further expansion

French hotel group Accor is set to expand its Myanmar presence with three budget properties, following its return to the country in 2013. The group will manage two properties in Yangon and one in Bagan under its Ibis brand, according to Accor’s local partner, property developer U Thant Zin Tun, a key member of Myanmar […]

Japan Interest in Dawei Industrial Zone Seen as Unlikely

Efforts by the Thai government to attract Japanese investment in a port-industrial complex at Dawei on Burma’s southeast coast are doomed, a prominent regional economist said. “I don’t think the Japanese are at all interested in Dawei. To the extent their name keeps cropping up, I expect it reflects the desire of the zone’s promoters, […]