Acer, Excel Myanmar to Bring Cashless Fares to Yangon Bus System

YANGON — Nearly a month behind schedule, an ad hoc assessment board convened by the Yangon Region government has named Excel KC Myanmar the winner of a contract to implement a cashless payment system for the city’s public bus commuters. The regional government solicited bids in late August for the card payment platform, the Yangon […]

YSH’s real estate head upbeat on their Yangon landmark project

Cyrus Pun, Executive Director of Yoma Strategic Holdings Ltd, says the Yoma Central is considered one of the largest foreign direct investments in Myanmar’s real estate sector with an investment of more than US$700 million. In a recent interview with Mizzima, Mr Cyrus Pun said the landmark project is important for the real estate sector […]

Architects, Experts Slam Draft Law for Yangon City Development

YANGON—A new draft law governing the development of Yangon has been condemned by architects and urban planners, who say it lacks a long-term vision for Myanmar’s biggest city, as well as safeguards against conflicts of interest involving members of the city’s development authority. Yangon government-appointed experts and the Yangon City Development Committee (YCDC), the municipal […]

IRD to raid shops in crackdown on illegal alcohol, cigarettes

Surprise inspections for alcohol, wine and cigarettes are beginning this month, the Internal Revenue Department said in a November 30 statement. A special team has been formed for the unannounced inspections, said an IRD official. There will be no advance warnings, he added. The IRD will seize goods that merchants have not paid tax on. […]

Government expects growth of 6.8pc in 2017-18

Despite the slowdown in economic growth, the growth rate for Myanmar is expected to reach 6.8 percent for the fiscal year 2017-18, U Htin Kyaw, the country’s president, said during the national planning commission’s meeting on Tuesday, according to the president’s office. This is because the weather in the time of harvest was favourable as […]

Property prospects positive for 2018, real estate agents say

Real estate agents believe prospects are looking good for the Myanmar property market in 2018. “Prospects in the real estate market will be brighter this year after the government released the rules to the Condominium Law at the end of last year,” said U Thet Naing Oo, managing director of real estate legal services firm […]

Prices of condo apartments fall by 20-30 % in Yangon market: real estate agents

U Nay Min Thu, managing director of iMyanmarHouse.com, a property website, said the commercial city of Yangon saw a 20 to 30 per cent decline in the prices of condominium apartments in comparison to 2013, according to a report of the Myawady Daily issued on Saturday. “Now the country’s property sector is facing a market […]

More information needed to conduct better EIAs

The biggest challenge for civil society organisations (CSOs) when participating in an Environment Impact Assessment (EIA) process, is the lack of sufficient information about the proposed projects. Another major problem is that many CSOs are not registered and hence not recognised by the General Administration Department, according to the latest polling from the Myanmar Centre […]

Licences for over 300 jewellery mining blocks to expire this month

Licences for some 300 jewellery mining blocks in Mogok in Mandalay Region; Lonekhin, Hpakant, Mohnyin and Nantyaseik in Kachin State; and Mongshu in Shan State, will expire this month, according to an announcement made by the Ministry of Natural Resources and Environmental Conservation. The ministry had earlier announced that no licences would be extended or […]

Myanmar government relaxes restrictions on foreign investment

Myanmar issues a new Myanmar Companies Act to attract foreign investment. The local companies are expected to take their businesses to a level. Editorial On 6 December 2017, Myanmar’s President U Htin Kyaw signed a new Myanmar Companies Act. The government aims to improve the investment environment and attract more foreign investors. “The Myanmar Companies […]