Sembcorp Myingyan project powers inks build-operate-transfer agreement with Ministry of Electric Power & Energy

Sembcorp Industries (Sembcorp signed a build-operate-transfer) (BOT) agreement with the Ministry of Electric Power and Energy of Myanmar (MOEE), for its upcoming 255-megawatt Sembcorp Myingyan gas-fired power plant in Mandalay yesterday. The agreement between Sembcorp Myingyan Power Company and MOEE was signed by Tan Cheng Guan, Sembcorp Industries’ Executive Vice President & Head, Group Business […]

ADB Urges Myanmar to Fix Big Infra Gap

​​ EVEN THOUGH Myanmar is at a critical juncture politically, socially and economically, it has a substantial infrastructure gap that needs to be tackled as a priority, said Winfried Wicklein, Asian Development Bank’s country director in Myanmar. “I think it is important to start the development quickly to get some early runs on the board. […]

MIC Receives $3.4 Billion in Proposed Foreign Investment Projects

​​ Around 70 proposed foreign investment projects worth about US$ 3.4 billion have been submitted to the Myanmar Investment Commission (MIC), just two and a half months before the end of fiscal year 2016-17, says Aung Naing Oo, secretary of the MIC. As of January of this the fiscal year, Myanmar has received foreign investment […]

Amendments to Myanmar Companies Act up for Parliamentary Discussion

​​ RANGOON — Suggested amendments to the Myanmar Companies Act have been written and submitted by the Ministry of National Planning and Finance to the government for discussion in upcoming Union Parliament sessions. The Myanmar Companies Act was established in 1914, when Burma was under British rule. The National Planning and Finance Ministry has, in […]

Yangon to invest Ks 8 billion into agricultural sector

The Yangon Region Government has earmarked about Ks8 billion to spend on development of the mechanised agricultural sector in Yangon Region as part of a revitalization effort for farmland, said Yangon Region Chief Minister U Phyo Min Thein. “As far as the industry sector is developed in Yangon Region, it is found that the agriculture […]

Myanmar Firm Building $12m Industrial Park in Push to Modernise Agriculture

​​ The Myanmar Ag­ribusiness Pub­lic Corporation is building a $12 million in­dustrial park in the delta region in a bid to push up the quality of Myanmar’s farming produce and at­tract investment. The park in Myaungmya township, about 150 kilo­metres west of Yangon, is slated for completion in late 2018, but already has basic infrastructure […]

President Urges Regional Governments to Pursue 12-Point Economic Plan

​​ President U Htin Kyaw has called on local authorities to focus on projects that advance the government’s 12-point economic plan. Speaking at a meeting called by the National Planning Commission, the President urged state and regional governments to pursue big projects, so long as they could be carried out without putting strain on public […]

Singaporean Company to Support a More Secure Data Centre in Myanmar

​​ Singaporean data center specialist 1-Net signed an agreement with broadband service provider Burst Myanmar last week to provide operational support for their Tier IV data centre, which is under construction at the Thilawa Speacial Economic Zone (SEZ). As part of the agreement, 1-Net will provide 24-hour-a-day services including data security, network best practices and […]

Trade Deficit Narrows as Imports Slump and Exports Rise $500m

​​ The overall value of trade between My­anmar and foreign countries fell by more than $330 million be­tween April 1st and De­cember 30th last year compared to the same pe­riod the year before, with a decline in imports off­setting a $509 million rise in exports. Ministry of Commerce figures show exports reached $8.2 billion, up […]

Qatar Airways Adds Flights to Yangon-Doha Route After ‘Strong Demand’

​​ Qatar Airways has added two new weekly flights to its route between Yangon and Doha in response to “strong demand”, the company said. The high-end airliner re-entered the Myanmar market in 2012, shortly after the country’s econo­my began liberalising. The extra fights mean Qatar Airways now offer five flights a week from Yangon to […]