Number of tourists visiting Mandalay rises by 26%

The number of tourists visiting Mandalay, the second largest city in the country, was 242,566 in 2014 and it rose to 306,432 in 2015 which is a 26% increase, the Mandalay Hotel and Tourism Department said on 9 January. Most of the tourists were from China, Thailand, France, Germany and the United States of America. […]

Myanma’s Diamond Star Company to run Thilawa Port

Myanmar’s Diamond Star Co has been permitted to operate an international jetty and commodity production through a build-operate-transfer system on the 61 acres of land at the Thilawa port, according to Myanmar Investment Commission (MIC). The MIC gave the firm permission to run a jetty and land development work, and the production of chemical fertilisers, […]

Myanma Timber Enterprise to invite open tender for Hardwood Logs /Post; Closing Date: 24 April 2015

Myanma Timber Enterprise will sell Hardwood Logs/Post by competitive bidding. Particulars of the Special Open Tender Sales are as follows: Open Tender No: 02/2014-2015 Date: 24-4-2015 Time: (1:00)P.M Place: Tawwin Hall (Myanma Timber Enterprise) Gyogone, Insein, Yangon  Commodity/Quality Padauk Logs (Assorted , Domestic ) Pyinkado Logs (Second) Kanyin  Logs (Second) Htaukkyant Logs (Second) Thinwin Logs […]

Surging land prices, opaque tender process ‘deterring foreign investment’

Foreign investors are disappointed that only domestic construction firms are being granted contracts to build government housing projects as surging land prices continue to make them wary of investing in housing, panellists said at the second day of the Myanmar Global Investment Forum. Cyrus Pun, executive director of Yoma Strategic Holdings, said surging land prices […]

Asian Wings, ANA deal cancelled

A planned partnership between All Nippon Airways and a private Myanmar airline, Asian Wings, has been cancelled because of concerns over the viability of the project, the two sides announced on July 30. The two airlines signed a partnership agreement in August 2013 under which ANA, Japan’s largest airline group, was to pay US$25million for […]

New Gov’t Regulations to Shorten Aircraft Lifespans

The Department of Civil Aviation (DCA) under the Ministry of Transport has revealed new government regulations that will reduce the standard lifespan of domestic airplanes by five years. Prior to the government changes, commercial airways were allowed to operate airplanes in Myanmar for up to 25 years. The new regulations were announced by DCA officials […]

Foreign banks may set up shop this year

Officials aim for foreign banks to be introduced as early as this year, though questions still surround the process that could see up to 10 international banks licensed in Myanmar. Letters were sent to foreign banks with a domestic presence requesting expressions of interest by May 30. Lawmakers have since suggested hiring a foreign consultancy […]

Growth prediction raised by IMF on gas, investment

Rising gas production and investment will lead to a higher-than-expected 8.5 percent economic growth rate for the 2014-15 year, according to the International Monetary Fund (IMF). The IMF had predicted 7.7pc GDP growth for the year in January. The economy will continue to be driven by both domestic and foreign investment, said Matt Davies, head […]

Two New Airlines Await OK from Myanmar Investment Body

YANGON — Two new domestic airlines are expecting to get the green light “soon” to begin flying both domestic and regional scheduled routes, according to Win Swe Tun, the director general of Myanmar’s Department of Civil Aviation (DCA). “Both Apex and FMI are waiting for approval from the MIC [Myanmar Investment Commission] to start operating […]

Myanmar Rice firms wary of Ministry plans to open up market

“We can’t compete with foreign companies,” said Myanmar Rice Federation’s central executive committee member U Soe Win. “This is not the right time to give them permission to enter the wholesale market. We are just starting to do business openly. Why let them in at this moment?” His comments follow reports that the ministry’s directorate […]