Aung San Suu Kyi Woos Tycoons in Naypyidaw Meet-Up

NAYPYIDAW — State Counselor Daw Aung San Suu Kyi reassured some of Burma’s most prominent tycoons that their place in Burma’s economy and society was secure, so long as they backed government policy, left themselves open to scrutiny, and “worked for others.” She stressed that her intention was not to dwell on the past, expressing […]

Military Officials, Cronies Released from US Blacklist

RANGOON — Burma’s former dictator Snr-Gen Than Shwe was among individuals removed from the US Treasury’s blacklist following the lifting of Burma sanctions on Friday. Another 16 senior military officials, including former Vice Snr-Gen Maung Aye, have been removed from the US Treasury’s Office of Foreign Asset’s Specially Designated Nationals and Blocked Persons (SDN) List. Apart from senior military officials, military-related businesses […]

Business community pins sanction hopes on State Counsellor’s visit to US

With State Counsellor Daw Aung San Suu Kyi set to meet US President Barack Obama in Washington today, many in Myanmar’s business community will be watching closely. The two are set to discuss US sanctions that have been in place for decades, and that investors are rearing to have removed. Businesses have long called for lifting sanctions they say cripple […]

Govt plans 700-acre economic zone in northern Yangon

The construction ministry is planning to build an economic zone on 700 acres in Yangon’s Mingalardon township including residential and commercial buildings, an official has told The Myanmar Times. The land between Yangon-Pyay Road and No.3 Yangon-Mandalay Highway was transferred to the ministry’s Department of Urban and Housing Development in January this year for development, but […]

Farmers fence off government land

Farmers who have fenced off government-owned land in Yangon Region which they say rightfully belongs to them may soon be facing legal action, according to the regional Department of Human Settlement and Housing Development. On empty plots of land in Yangon that the government says it owns but that it does not use, farmers and […]

Bidders cry foul on Yangon Region government tender

Two unsuccessful bidders for a Yangon Region government tender have claimed the government decided on the winner before the selection process, and the chair of one of the firms intends to petition the new government. Three companies applied for a tender called by Yangon Region government in early January to build a new industrial zone […]

YCDC planner targets 30 percent parkland

It isn’t easy keeping Yangon green, what with the heat, developers’ voracious appetite for empty land, and the council’s lack of resources. But municipal officials say they are hopeful they can more than double the amount of green space in Yangon under a new zoning plan, taking the figure up to 30 percent. U Toe Aung, a […]

Zaykabar chair: Suu Kyi is ‘like a sister’

Real estate tycoon U Khin Shwe discusses his close friendship with Daw Aung San Suu Kyi, land confiscations associated with his company Zaykabar and his reputation as a crony of the former military regime, in an interview with The Myanmar Times. I understand that you have a close relationship with Daw Aung San Suu Kyi. […]

Parliament passes condominium law

Mired in legislative gridlock until the dying days of the outgoing government, the condominium law finally squeaked through parliament on January 22 after years of back-and-forth argument between the upper and lower houses. The president still has to approve the law, but in principle foreigners will now have the right to buy up to 40 […]

Military-linked tycoons claim political middle ground

Despite decades of benefiting from connections within the military and ruling Union Solidarity and Development Party (USDP), many of Myanmar’s leading conglomerates have claimed to be politically neutral.   Spokespeople for some of the country’s most successful companies including Asia World, Htoo Group, Kanbawza (KBZ) Group and Max Myanmar said as private businesses they had […]