New Chair of Kyaukphyu SEZ Wary of Chinese Loans

YANGON — Myanmar will endeavor to take on no loans from China to complete the Kyaukphyu Special Economic Zone (SEZ) but would offer the developer no sovereign guarantees to mitigate risk if it does, said the project’s new chairman, seeking to allay fears of a debt trap. Sean Turnell, an economic adviser to State Counselor […]

Brewing up a recipe for success in tea production

Myanmar’s tea industry, which once suffered a serious blow to its reputation when harmful dyes were found to be used in production in 2009, is slowly making its way back through efforts such as organic growing and better processing methods, tea-producing businesses have told The Myanmar Times. Tea plantations in the country are mostly found […]

ACS hires new CEO to address ananda’s teething problems

Ananda, Myanmar’s first 4G+ wireless broadband data-only service, hasn’t gotten off to a very good start. In rushing to deliver its promise of unlimited Internet access, ananda has on the other hand drawn numerous complaints related to slow broadband speeds and poor network coverage since its debut in Yangon in May. This month, Amara Communications […]

Plans afoot for Dawei SEZ and Thai Border road link with Thai loans

Plans are underway to seek loans from Thailand to build two-lane Dawei-Htikhee road included in the Dawei Special Economic Zone project, said Union Minister for Commerce Dr Than Myint, who is also chairman of Myanmar SEZ Central Work Committee. The construction has been agreed and approval sought from relevant parliaments. The government is also working […]

KDDI Brings Japanese Telecoms Technology & Know-how to Myanmar

TOKYO, Jul 5, 2018 – (ACN Newswire) – KDDI CORPORATION is implementing telecoms business operations in Myanmar, together with Sumitomo Corporation and Myanmar Posts and Telecommunications (MPT). As smartphones come into widespread use in Myanmar, demand for social networking services (SNS), video sharing services and content use is increasing. MPT has been offering LTE+ high-speed […]

Myanmar to trim Kyaukphyu cost but drops Annan’s strategic review suggestion

Nay Pyi Taw’s plan to reduce the cost of Kyaukpyu Special Economic Zone, including the proposed deep-sea port, will help cap its external debt load and avoid repeating Sri Lanka’s Hambantota’s precedent, according to London-headquartered research firm BMI Research. At the same time, a government committee has dropped any mentioning of commissioning a Strategic Environmental […]

Shut down of Moehti Moemi gold mine helps no one: company

The government’s suspension of the Moehti Moemi gold mining concession had affected the lives of 5000 company workers, and had cost the government between 26.6 kilograms and 53.2kg of gold in lost monthly revenue, U Soe Tun Shein, chairman of National Prosperity Co Ltd, which operated the concession, said at a press conference last Friday. […]

Rumour claims four domestic airlines stop their services

Rumours surfaced that four domestic airlines including Air Bagan and Apex Airlines had stopped their services. The alleged four are Air Bagan, Apex Airlines, Asian Wings Airways and FMI Air. Deputy Director General Ye Htut Aung from Department of Civil Aviation said on July 16, “It is true that Air Bagan and Apex Air have […]

Clashing with the law, SEZ body to resurrect Dawei megaproject

Myanmar’s SEZ working body announced that the long-suspended Dawei SEZ project will be resurrected this October, in a move which is set to clash with the Environmental Conservation Law because there is no known site-wide environment assessment conducted or approved. U Than Myint, chair of the SEZ Central Working Body, said during a meeting with […]

New Yangon City Challenges Regional Govt Transparency

On May 2, 2018, the New Yangon Development Company (NYDC), the company owned by the Yangon regional government to undertake the New Yangon City project, announced that China Communications Construction Company (CCCC) would develop the new city project. Interestingly, NYDC has emphasized that CCCC has not yet been granted the project. Under the Swiss Challenge […]