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 […]

More effort needed to tackle idle industrial land

A month after the first site visits to inspect idle industrial plots in Yangon, officials are warning there will be no progress in freeing up unused land without a special committee that has the power and resolve to revoke the leases of absentee owners. Yangon Region government announced in late May that it was turning […]

Industrial Material Imports Down

Industrial raw materials import for this fiscal year are about $650 million less than the same period last year, according to Ministry of Commerce figures. Industrial raw material imports decreased in both government and private sectors, the data show. As of last month, industrial raw materials imports for this fiscal year have decreased by $164 […]

Trade volumes climb on import growth

Myanmar’s bilateral trade this financial year until end-July is worth over US$500 million more than over the same period last year, according to figures compiled by the Ministry of Commerce. Trade so far this financial year is worth a total of $8.951 billion, up from $8.437 billion in the first four months of the last […]

Dawei Special Economic Zone Gets Rolling

The government, through the Dawei Special Economic Zone (SEZ) Management Committee, and a consortium of private developers have signed a concession agreement to develop the initial phase of the long-delayed Dawei SEZ. The consortium of private developers includes Italian-Thai Development (ITD) Public Co Ltd, Rojana Industrial Park Public Co Ltd and LNG Plus International Co […]

YCDC to take over management of two industrial zones

Yangon City Development Committee will soon take over management of the last two privately owned industrial zones in Yangon as the Ministry of Construction moves to transfer power to the local authority. The ministry’s Department of Urban and Housing Development (DUHD) has been transferring oversight of Yangon’s 28 industrial zones to YCDC since 2012. The […]

MIC plans to delegate investment powers

“We are considering delegating power to the state and regional governments, and allowing them to approve certain projects, though the details are not yet fixed,” he said. “We want to do this for two reasons – one is to delegate power from the MIC to the state and regional governments, and the second is that […]

Government plans housing for 16,000 factory workers

The government is planning a housing rental project for 16,000 factory workers from Hlaing Tharyar and Shwe Pyi Thar industrial zones, according to Daw Win Maw Tun, deputy minister for labour, in the first such move to support the private sector. The housing will be dormitory-style for single men and women, with the intention to […]

Labourers to be Housed at Hlaingtharyar

A housing complex for labourers is set to be established in Hlaingtharyar in Yangon. U Myat Thin Aung, president of Hlaingthartar Industrial Zone, said that this housing complex is being established by the owners. The authorisation has been granted from the Department of Human Settlement and Housing Development for land rental under a five year […]

Gov’t to Push to Reclaim Unused Industrial Plots

The government needs to step up inspections to take back vacant plots of industrial land that are not being used for the purpose of business, an official report submitted to the parliament suggested. Recently, the union government announced that they will take back unused plots of land in industrial zones but apparently there has been […]