Tax relief to be given to businesses of prioritised sectors only

Only businesses in the sectors that the government wants to improve will be given tax relief in accordance with the new investment law expected to be enacted soon, according to the Myanmar Investment Commission. An income tax holiday of up to five consecutive years is currently provided for an enterprise in Myanmar as an incentive […]

High-rise suspension drags on

Developers desperate to restart suspended high-rise projects in Yangon remain in limbo as a government review drags on. Members of the Yangon Region government committee tasked withconducting a final inspection on 64 buildings say they are still awaiting reports on the first 12, and will not continue inspections until those reports are in. The construction industry […]

Negligent engineers to be banned

Engineers guilty of professional negligence will face a ban as well as consequences under the law, the Myanmar Engineering Council has announced. MEC assistant secretary U Aung Myint told The Myanmar Times that officials would investigate any accident that occurred on a building site and would be prepared to take action if the certified site […]

CQHP warns against low-quality construction materials

Some construction materials are being falsely marketed as high-quality, when in reality they are sub-standard, the head of Myanmar’s high-rise building regulator has warned, as concerns mount over poor quality building practices. However, a scheme to grade the contractors in Yangon may help developers to differentiate between those who are testing their materials and those […]

Yangon needs 75,000 new apartments each year

Yangon will need around 75,000 new apartments to be built each year to accommodate the city’s growing population, but contractors are struggling to come anywhere close to this target. More than 330,000 people migrate to Yangon each year from elsewhere in the country, but formidable challenges remain to building enough accommodation to keep up with […]

Right-hand-left-hand spat sets back draft Automobile Policy

A right royal hoo-ha has been raised by proposals that only left-hand drive cars should be imported in future. The draft Myanmar Automobile Policy, which transportation experts have been working on for the past two years, is expected to recommend the left-hand drive importation policy. The Myanmar Engineering Society (MES), which is drawing up the […]

Authorities to Grade Myanmar Property Builders

Myanmar’s construction companies will be graded by the authorities as the Myanmar National Building Code comes into effect in 2015 to regulate the construction industry, U Aung Myint, joint secretary of Myanmar Engineering Council (MEC), said. Ahead of the implementation of the ASEAN Economic Community (AEC) next year, Myanmar construction companies are in rush to […]

Myanmar garment exports soar following EU trade pact

Garment exports have surged since the European Union admitted Myanmar into its generalised system of preferences last April, opening up European markets. According to U Aung Myint, director of SMC garment manufacturing and member of the Myanmar Garment Manufacturers’ Association, Myanmar exported US$400 million worth of garments from May through July, on pace to surpass […]