Aeon’s Myanmar bid highlights supermarket uncertainty

Japanese retail giant Aeon’s ambitions in Myanmar’s lucrative retail sector have highlighted uncertainty about what foreign firms are allowed to do as far as trading is concerned, with local industry heads calling for more clarity and a level playing field for domestic and international players. Aeon has provided most of the US$8.1 million in capital […]

Korea-Myanmar group proposes $620m Yangon expressway

Two companies from Korea and a Myanmar conglomerate have submitted a joint proposal to the Ministry of Construction to build an expressway from Yangon to Bago. Capital Diamond Star Group (CDSG) hopes to work with South Korea’s Lotte E&C and Halla Corporation to build the road, which would link Yangon to a new international airport […]

Energy Advisor Woos Investors, But Hints at “Dark Forces”

U Soe Myint, a national energy sector advisor to the Asian Development Bank and former director general of Ministry of Energy’s Energy Planning Department, told a business seminar that more foreign investment is needed in the oil and gas sector, but they should be aware of uncertainty. He said that in addition to oil exploration, […]

Government allocates funds for U Bein Bridge repairs

The Union government has stumped up almost US$200,000 for urgent repairs to Mandalay’s U Bein Bridge, a popular tourist attraction that some have warned is in danger of collapse. The Mandalay Region government will use the K227 million ($199,500) in funding to undertake major repairs at the teak bridge, according to Minister for Finance U […]

Enforcement Teams to Target Growing Tax Evasion in Myanmar

The Internal Revenue Department (IRD) will start collecting data on unpaid government taxes to tackle Myanmar’s growing tax evasion problem after up to 400 industrial companies were reported avoiding local tariffs. Mobile enforcement teams will monitor industrial zones including the South Okkalapa, Mingaladon, Thaketa, Shwe Pyi Thar, Hlaing Thayar and South Dagon townships, according to […]