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Rents raised for shops in Yangon’s parks

The rent for shoplots located in Yangon’s parks and garden have increased based on the market price assessed by the new government, a senior Yangon official said. U Ko Ko Lin, head of the Yangon City Development Committee’s Playgrounds, Parks and Gardens Department, said the increase was to reflect the existing market price of properties […]

YCDC has revised land lease rates upwards in line with market price: Yangon Mayor

The rent on Yangon City Development Committee’s land has been raised during the incumbent government’s term, said Yangon Mayor U Maung Maung Soe. “The land lease rates have increased in line with the market price. It is a fold increase,” he said. Yangon Region Auditor General Daw Khin Than Hla told the regional Hluttaw on […]

Mandalay to boost traditional textile and weaving industry

The government is set to boost the region textile and weaving industry with the drafting of a strategy aimed at modernising the sector, an official of a local textile association said. Daw Myint Myint Than, vice chair of the Mandalay Textile and Weaving Manufacturers Association, said two meetings have been held with the Ministry of […]

Chinese President Xi Jinping’s Myanmar Trip Aimed at Pushing Beijing’s ‘Two-Ocean’ Strategy

Chinese President Xi Jinping is scheduled to visit Myanmar this week at the invitation of President U Win Myint. He will stay in the country for two days and meet with Myanmar’s leaders. Since he came to power in March 2013, Xi has visited more than 60 countries across the globe, and he will kick […]

Thailand’s KBank to acquire 35% stake in Myanmar’s A Bank

Thailand’s Kasikorn Bank (KBank) is preparing to invest in Ayeyarwaddy Farmers Development Bank (A Bank) in Myanmar, according to government data. The Myanmar Times understands that the Thai bank is looking to buy a 35 percent stake in the A Bank and has sought approval from the Central Bank of Myanmar (CBM) to do so. […]

Myanmar’s first Human Milk Bank upgraded to international best practices

Human Milk Bank at Yangon Central Women’s Hospital gives 500 infants the best start in life each month YANGON, 11 January 2020 –Today marks a milestone in Myanmar’s efforts to cultivate an enabling environment for breastfeeding with the official relaunch of the first human milk bank in the country, which has recently been upgraded to […]

Wave Money triples annual remittance, sees continuing growth in Myanmar

Wave Money is seeing better growth and potential in the mobile financial services (MFS) space. The mobile financial services (MFS) company reported annual remittance value of K6.4 trillion for its financial year ended December 31, 2019, which is more than triple the amount remitted in the same period last year. The spike came on the […]

Myanmar grants permanent residency to nearly 600 foreigners in 5 years

YANGON, Jan. 14 (Xinhua) — Myanmar authorities have granted permanent residency status to 591 foreigners so far since 2015, according to the Information Ministry on Tuesday. From Jan. 29, 2015 to present, a total of 648 persons applied for the permanent residency, the ministry said. The Central Committee for Implementation of Permanent Residency interviewed 18 […]

Myanmar adds nations to VoA list

YANGON, 13 January 2020: Myanmar has eased visa regulations to draw more tourists to the country this year according to Union Minister for Hotels and Tourism U Ohn Maung. In a statement at the weekend, distributed by the Myanmar Touriism Federation, he noted that effective 1 January the government had introduced visa-on-arrival (VoA) for an […]

Myanmar health experts seek ban on e-cigarettes

Ko Thura Aung was very happy that he was able to buy an e-cigarette for K3000 (US$2), much lower than its normal price of about K25000, from a roadside shop in Tarmwe township on his return from work. “We are inspired by the actors in advertisements who blow smoke from e-cigarettes. When I get it […]