Agreement for Hanthawady airport close to signing

An agreement appears in the offing as the coordination committee for the Hanthawady International Airport construction project heads into its sixth meeting with the tender-winning company optimistic that they could emerge with a contract. Coordinated efforts are being made to get moving on the project for an international airport in Bago Region. The first week […]

Japan May Build First Waste-to-Diesel Fuel Plant in Bago

Japan’s Garbage Collection Co Ltd has expressed interest in constructing a waste-to-diesel factory in Bago Region, according to the Bago Regional Government. The diesel produced will be used as fuel for tractors and harvesters in the agriculture sector. Bago Region, which is next to Yangon Region, is heavily reliant on the agri-business. The region mainly […]

Jotun opens factory in Myanmar

Jotun, a privately-owned Norwegian paint maker, has opened a K14 billion factory in Bago Region. Located in the Bago Foreign Industrial Zone, the 4-hectare plant will provide paint manufacturing jobs for more than 60 employees. Jotun first entered Myanmar in 2013 before obtaining an investment license to build the factory from the Myanmar Investment Commission […]

Myanmar rubber exports set to rise even as global prices take a beating

The price of rubber has fallen below its cost of production in major exporting countries. Yet, international demand for rubber produced in Myanmar has risen and insiders reckon things could remain upbeat for a while more. “Myanmar rubber production will certainly increase on the back of rising international consumption and demand,” U Myo Thant, vice-chair […]

LB Finance gets nod to operate microfinance business in Myanmar

L B Finance PLC’s overseas foray has borne fruit with the company successfully securing a licence to run a microfinance business in the southern central part of Myanmar, which is slowly opening up after decades of military rule. L B Finance, a non-bank lender with an asset base of Rs.109 billion, last week said it […]

Hantharwaddy airport priority for govt

THE planned Hantharwaddy International Airport is the only priority in the area of aviation under the National League for Democracy-led government, said U Win Khant, permanent secretary of Ministry of Transport and Communications. He made his comments in relation to the government’s Transport Master Plan during the sideline interview with The Myanmar Times at Myanmar […]

MIC Approves Foreign Forestry Joint Venture

The Myanmar In­vestment Commission (MIC) has green lit their second ever foreign investment in the forestry sector, according to a Directorate of Investment and Company Administration (DICA) on August 30. The Investment was awarded to Global Agriculture Joint Venture Co., Ltd, a joint venture between UK company Kruilight Co., Ltm. and the Department of Forestry. […]

Parliamentary Committee to Examine 24 State-Owned Factories

NAYPYITAW — The Lower House Investment and Industrial Development Committee will consider the termination or privatization of 24 loss-making state-owned factories—including the Myingyan Steel Factory which has received significant state investment. Committee member U Aung Kyaw Kyaw Oo said: “A total of 24 factories are making a loss, most were suspended when parliament discussed the […]

Pacific Hunt Energy Prepares Drilling Campaigns For Myanmar Blocks

Pacific Hunt Energy is planning a total of four exploration drilling campaigns for its Myanmar onshore blocks PSC C-1 and PSC H in the year 2018 and 2019. During the campaigns, explorations wells will be drilled with the intent to confirm the presence of hydrocarbon reservoirs. Two drilling campaigns are planned for block PSC C-1, […]

Global economic instability drives the rubber price to decline

Rubber prices in Myanmar have declined due to global economic instability, particularly in durable goods markets and petroleum which are closely linked to rubber said U Khaing Myint, the general secretary of Myanmar Rubber Planters and Producers Association. Since May, a tonne of Myanmar rubber sold for about US$1,400 whereas the rubber price hit US$1,800-2,000 […]