FMI terminates investment in Yeni Industrial Town Project

First Myanmar Investment Company (FMI) yesterday announced the termination of its agreement to invest in Asia Golden Glory Development Co, the company involved in developing the Yeni Industrial Town Project. In an announcement filed with the Yangon Stock Exchange, FMI said it had terminated a 2017 agreement for it to acquire a 30 percent stake […]

Myanmar not ready yet for auto boom

THOUGH MYANMAR has the potential for a boom in its automotive industry, it may take more than five years to enjoy tangible benefits in reality, according to Soe Tun, president of Myanmar Automobile Manufacturers and Distributors Association and managing director of Farmer Auto Trading Co. “It is not the right time for newcomers to enter […]

Unfair taxes, illegal border trade stifle Carlsberg’s Myanmar plan

Michael Jensen, managing director of Carlsberg Myanmar, didn’t bother to hide his frustration at the environment in which his brewery has been forced to do business in the country. “We are faced with a tax regime that is completely unfair, incredibly bothersome bureaucratic procedures and illegal trading of beer across the Thai and China borders,” […]

River-crossing gas pipe project in progress

Union Minister for Electricity and Energy U Win Khaing inspected the laying of a new gas pipeline across Sittaung river between Kyaikto Township in Mon State and Waw township in the Bago Region yesterday. Accompanied by Deputy Minister Dr Tun Naing and officials, the union minister arrived at the project site to replace a 12-inch […]

Japan eyes Hantharwaddy airport construction project

The government is in negotiations with Japan for financing the construction of Hanthawaddy International Airport in Bago Region, after the original negotiations with a Singapore-led consortium fell apart in January, Transport Minister U Thant Sin Maung said on Tuesday. “This project is not halted,” he said, noting that Japan is very interested in the project. […]

Govt Greenlights Electricity Joint Ventures in Mon State, Bago Region

YANGON — The Myanmar Investment Commission (MIC) has granted permission to two joint ventures involving foreign partners to supply power to areas not connected to the national grid. “One is for households in Ye Township, and the other is for the developer of an industrial zone in Bago,” said U Than Aung Kyaw, deputy director-general […]

Dept warns migrant workers about fraudulent job agencies

The Department of Labour Migration has warned workers seeking overseas job to be wary of fraudulent employment agencies that operate without licenses. In an announcement on Tuesday, the department, which is under the Ministry of Labour, Immigration and Population, urged workers to check with the authorities about the authenticity of such agencies. The warning comes […]

Bago Region’s tax revenue relies on excise, fishery and property taxes

Bago Region relies heavily on excise, fishery and property taxes as regional tax revenue, while its construction ministry spends 39 percent of the budget, mainly on road improvement. Bago government revenues have increased more than 150pc since 2013 while the grant transfer from the Union government to the region has grown more than 290pc in […]

Mandalay Int’l Airport received over 1 million passengers last year

More than a million local and foreign passengers entered Mandalay International Airport last year exceeding the number of 2016, according to sources from the Department of Civil Aviation. In 2017, domestic airlines such as Myanmar National Airlines, Air Mandalay, Air KBZ, Asian Wings Airways, Myanmar Airways International, Yangon Airways, Shwe Myanmar Airlines, Mann Yadanabon Airlines […]

New international airport project in central Myanmar in progress

YANGON, Feb. 1 (Xinhua) — Myanmar’s new Hanthawaddy International Airport project, being implemented as a national project in the country’s central Bago region, some 76.8 km north-east of Yangon, is in progress. Upon completion, the airport will represent the fourth and largest of its kind in Myanmar after Yangon, Mandalay and Nay Pyi Taw’s and […]