Insurance market will be open to foreign firms in 2017: ministry

The government is planning to open Myanmar’s struggling insurance industry to foreign firms early next year and free local players from an array of restrictions – part of a coordinated push to speed up liberalisation in a sector crucial to economic development, a senior government official told The Myanmar Times. “We’re going to speed up liberalisation, […]

YESC targets 1400 megawatts for Yangon

Yangon’s electricity supplier is hoping to increase power distribution in the blackout-plagued commercial capital to 1400 megawatts by next year. “In the coming year, we expect 1350 or 1400 megawatts,” U Thant Zin, general manager of Yangon Electricity Supply Corporation, said at a press conference in Nay Pyi Taw yesterday. The YESC general manager said […]

Yangon developers asked to provide own power

Developers in Yangon will have to install transformers to power new buildings that use more than 30 kilowatts of electricity, according to Yangon’s electricity supplier, which is hoping the measure will help reduce frequent blackouts across the city. In an August 12 announcement Yangon Electricity Supply Corporation said all developers applying for a Building Completion […]

MPPE pledges crackdown on weak petrol stations

Myanma Petroleum Products Enterprise (MPPE) will take serious actions against private petrol stations with sub-standard quality, according to its managing director U Thant Zin. Six mobile testing laboratories were imported last year. While they have been put to limited use already, so far petrol stations failing tests have only received warnings, he said. “We are […]