Joint Approach Coming for Low-Cost Housing Projects

Government will enter into join ventures with businesses to stimulate low-cost housing projects on public land, according to the Department of Human settlement and Housing Development. In an effort to stimulate construction of needed low-cost housing, public-private developments will be allowed on government land, the department said. Land will be provided by the government and […]

Shwetaung Chosen as Lead Developer for Ayarwon-Yadana Housing Project

The Construction Ministry has chosen Shwetaung Construction Company as the lead developer for the Ayarwon-Yadana Housing project, said Min Htein, director-general of Urban and Housing Development Department under the Construction Ministry. “The company has many years of experience,” he announced at a discussion on the proposed housing law held December 26 at the Myanmar Construction […]

Support for Locally-Made Products Needed Amid Influx of Chinese Goods

Almost daily, trucks piled full of China-made goods ply the Muse-Mandalay highway, bound for markets located across the Mandalay Region. They include a dizzying array of products, including food, clothes, tools, vehicles and machinery. Because Chinese goods are cheaper compared to goods manufactured locally, demand from consumers in Mandalay has been on the rise. On […]

Construction of Dawei SEZ back on the cards

The government is exploring ways to restart development of the suspended Dawei Special Economic Zone (SEZ), saying the SEZ will benefit Myanmar as well as the region. The Dawei SEZ includes construction of the highway as well as a deep-sea port which will link Thailand, Cambodia and Vietnam in the ASEAN region to India, the […]

Mytel to sell SIM cards in early 2018

With construction of a mobile network now more than 50 per cent completed, Mytel, the fourth telecom operator, is planning to start selling SIM cards in early 2018. Mytel said its objective is to provide the best Internet services at a fair price. The company’s Myanmar headquarters is located in Yangon and it has opened […]

Financial services among the fastest growing sectors in Myanmar

The financial sector rose the most among 15 sectors managed by the government in the first six months of the 2017-18 fiscal year, growing 22 percent as a result of the implementation of new financial services, U Set Aung, deputy minister of the Ministry of Planning and Finance, at Pyidaungsu Hluttaw meeting on Thursday. “If […]

Change in fiscal year insufficient to address shortfalls in budget process

While seen as positive, Nay Pyi Taw’s proposed change of fiscal year alone cannot address the lack of flexibility in the annual budgeting process, according to businesses. The adoption of multi-year budgeting should be implemented instead. Lawyers, investors and financiers told The Myanmar Times that while changing the fiscal year could bring some advantage to […]

Golden City opens grade-A office tower in Yankin

Golden City officially opened Golden City Business Center (GCBC),which is a four-storey office tower in Yankin township, Yangon, on October 17. The development has a net leasable area of around 150, 000 sq ft. Office rooms of around 1,044 sq ft to 12,755 sq ft in size are available for long term leases. Golden City […]

60 pc of investments in Thilawa SEZ target local market

There are 85 local and foreign investments in Thilawa Special Economic Zone Project, with most of them targetting the local market. Sixty per cent (51 businesses) of the total investments target the local market, 29 per cent (25 businesses) traget the export market, and nine per cent service the distribution sector, according to Thilawa SEZ […]

Myanmar’s first cable car on track to open in December

Construction of the Kyaikhteeyoe cable car project, the first such service in Myanmar, connecting Yathaetaung and Kyaikhteeyoe hill in Kyaikhto, Mon State, is 90 per cent finished and is planned to open in the first week of December, according to the project officer. “It is nearly completed. We are now doing the finishing touches to […]