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Green light given for Thai-backed industrial estate near Yangon

The Myanmar Investment Commission (MIC) has approved Thai developer Amata Group’s proposal to develop a smart industrial estate project in Yangon Region. Amata Group is a Thai-listed developer headquartered in Bangkok known for its work on industrial estates. A meeting of the Myanmar Investment Commission on October 21 approved the development and operation of the […]

Service is key to top spot in market: Samsung Myanmar

South Korea’s Samsung Electronics, the world’s leading manufacturer of smartphones and home appliances, has secured a firm foothold in Myanmar and is determined to become part of the country’s march to economic development. Calvert Yap, head of Consumer Electronics at Samsung Myanmar, talks about the company’s plans to expand in the country and to help […]

Mandalay city wins international award

The Mandalay City Development Committee (MCDC) has won an international award for its efforts to implement reforms improve its efficiency in delivering basic public services. The Singapore-based GovInsider, an advocacy group on good and innovative governance, chose the MCDC as this year’s recipient of its Rising Star Award for the governance reforms and innovations it […]

Land buyers in Myanmar’s Yangon have to pay infrastructure fees

Buyers of land sold by the Yangon regional government have to pay infrastructure fees, according to the Yangon City Development Committee (YCDC). Land sold by the regional government lacked electricity and water supplies, the agency said. The regional government has announced that about 530 plots owned by the government will be sold to the public […]

Myanmar seeks to establish Myanmar-India-China economic corridor

As part of efforts to make Myanmar the doorway to ASEAN door, the government will try to establish a Myanmar-India-China economic corridor, says Yangon Region Chief Minister U Phyo Min Thein. The potential for Myanmar to become a trade hub is good because of its location between two rapidly developing countries with large populations U […]

Taking a Quantum Leap to Revamp Myanmar’s Economy

YANGON—Since last year, Myanmar officials responsible for drumming up foreign investment have been shuttling between Naypyitaw and Asian countries to pitch the government’s latest legal, procedural, and institutional reforms to potential investors as part of efforts to revitalize the country’s economy. State Counselor Daw Aung San Suu Kyi often highlights foreign direct investment (FDI) as […]

Bridging the gap: Yangon’s boom falls short across river

On her scruffy, downtrodden bank of the river, teashop-owner Khin works just a few hundred metres across the muddy water from Yangon and dreams of the riches promised by a new bridge linking to Myanmar’s commercial heart. “The quicker, the better,” 58-year-old Khin Than Myint tells AFP of the construction of the US$168 million bridge, […]

Can we turn suspended factories into engines of national economic growth?

Steel is an essential material in the industrial products and in building infrastructures. If Myanmar can produce steel on commercial scale, we will be able to save our foreign exchange used in importing steel products and build an industrialized country. In fact, the country has large deposits of iron ore. Myanmar set up steel mills […]

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 […]

LexisNexis to Help Develop Property Data System for Myanmar’s Commercial Capital

YANGON—The Yangon regional government on Wednesday signed a memorandum of understanding (MOU) with LexisNexis Southeast Asia, a provider of information analytics, to help set up a reliable housing and real estate information system (HREIS) for Myanmar’s commercial capital. According to the regional government, LexisNexis will carry out the initial analysis for the HREIS, the first […]