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Myanmar to use US$1 billion loan for infrastructure projects

Economic development, agriculture, electricity, and infrastructure projects will be the focus of a framework for loans between South Korea and Myanmar. On September 3, Union Minister for Investment and Foreign Economic Relations U Thaung Tun and South Korea’s Minister for Foreign Affairs Ms Kang Kyung-wha signed the framework agreement under which South Korea will provide […]

New smart-street project in Yangon

The Smart Street Project, which aims to beautify and renovate streets and infrastructure in the city, will soon be implemented in the lower block of Seikkanthar and Kannar Streets in Kyauktada Township, according to U Lin Khaing, secretary of the working committee for roads and bridges at the Yangon City Development Committee (YCDC). The project […]

Myanmar stocks surge on hope of foreign funding

Expectations are growing for an influx of foreign investment into Myanmar two months after local authorities said they would lift restrictions to allow overseas investors to trade shares of locally listed companies. The Myanmar Stock Price Index or Myanpix surged 10% in August, despite the turmoil in global markets, on such expectations. Indeed, local investors […]

Sugarcane farmers, sugar millers plead for government help

Local sugar millers and sugarcane farmers say they are calling for multiple issues to be addressed urgently by the government to ensure the sustainable development of the sector in the country. The farmers and millers presented the issues during Sugar Forum 2019 industry event held in Nay Pyi Taw on September 10 and 11, said […]

Japanese firm joins consortium for Yangon station redevelopment

Japan’s Sumitomo Corporation will replace China’s Sino Great Wall Co., which has withdrawn from the project to upgrade Yangon Central Railway Station, managing director U Ba Myint of Myanma Railways told The Irrawaddy. The Yangon Central Railways Station Area Comprehensive Development Project was unveiled in 2015. In February 2016, 15 companies were shortlisted and two […]

US-China tiff offers opportunity

While strolling around Yangon’s city centre recently and reading news alerts about the US-China trade war, something caught my eye at Kantharyar Centre across from Kandawgyi Lake. It was a sales gallery at the new shopping centre displaying SUVs and sedans. What caught my attention was the brand of SUV most prominently displayed: Gold AYA […]

MAI to substitute currently-running planes with new Air-buses

The Myanmar Airways International (MAI) will substitute its currently-running planes with new Air-buses bought recently when they arrive in Myanmar, said Tanes Kumar, Commercial Director of the MAI. The MAI bought two new Air-buses in order to extend its flight services and the first one will arrive in Myanmar in September and another in October. […]

Vehicles at the forefront of Myanmar’s drive for industrial growth

Toyota is developing an assembly plant in Myanmar,signaling strong growth prospects in the local market as the country looks to expand its manufacturing output. In late May the Japanese carmaker announced it will establish its first vehicle assembly plant in the country, in the Thilawa Special Economic Zone (SEZ) just outside of Yangon. Once it […]

South Korean President Enhances Bilateral Economic Ties with Myanmar

YANGON- The president of South Korea pledged to accelerate Korea’s economic presence and to cooperate on development in Myanmar after meeting with the Myanmar State Counselor in Naypyitaw on Tuesday. The trip is a part of his “New Southern Policy” to deepen relations with Southeast Asian nations, including in the economic realm. Moon Jae-in arrived […]

KB Kookmin Bank to provide home loans to low income households

South Korea’s KB Kookmin Bank will participate in developing a government-funded residential complex for low income households in Yangon, Kim Chang-woo, chief representative of KB Kookmin Bank Yangon Representative Office, told The Myanmar Times. KB Kookmin Bank and Yangon Region Government signed a Letter of Intent to support the project during South Korean President Moon […]