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Yangon inviting foreign help on housing

The Yangon Region government will invite foreign participation in efforts to build more affordable housing, said Chief Minister U Phyo Min Thein. The chief minister was speaking at a press conference to brief the media on the regional government’s progress after three years in office. “As Yangon has many industrial zones, many migrants workers are […]

Myanmar state counselor calls for working with private sector to achieve development goals

YANGON, May 11 (Xinhua) — Myanmar State Counselor Aung San Suu Kyi has called for working together with the private sector to achieve the country’s development goals, while ensuring the maintenance of a responsible and sustainable business environment. In her video message on the occasion of the Yangon Region Investment Forum 2019, which began on […]

More FDI expected in power sector in five years

Myanmar’s power sector will spearhead growth in the infrastructure industry and draw the bulk of foreign direct investments (FDI) over the next five years, Fitch Solutions Macro Research said in a report released April 23. With just 40 percent of all households enjoying access to electricity as at September 2017, which is amongst the lowest […]

China-built power plant hailed in Myanmar for benefitting people

People in Myanmar’s southern Mon state were hailing the recent inauguration of a China-built combined cycle gas turbine power plant in the state that has made over 1,500 villages in the state possible for access to electricity. The power plant of 118.9 megawatts’ capacity was built by China Energy Engineering Corporation (CEEC) after it won […]

Huawei Myanmar calls for govt to facilitate change

DESPITE being caught in the trade war between China and the United States, Chinese giant Huawei Technologies Co remains confident of continued healthy growth in Myanmar thanks to the rising demand from locals, Liman Zhang, chief executive of Huawei Myanmar, said. In an interview with The Nation, Zhang said the firm stands ready to enjoy […]

Direct service to Chonqing begins

Hainan Airlines, China’s fourth largest airline, on Sunday began providing direct flights from Yangon to the south-western port city of Chongqing. The airline is the 32nd international airline to operate in Yangon, according to a statement from the Yangon Aerodome Co Ltd (YACL). Hainan Airlines will fly the Yangon-Chonqing route four times a week using […]

Myanmar wins award for research on biomass production

The Myanmar Aerospace Engineering University was selected among participants from 182 countries as this year’s winner of the Energy Globe Award in Japan. Myanmar’s research presented the concept, design and construction of the device for thermogravimetric measurements alongside the results from tests carried out on wood pellets. The main objective is to study the viability […]

GrabPay sets sights on Cambodia and Myanmar

Southeast Asia’s largest ride-hailing group plans to take its mobile payments service into Cambodia and Myanmar as it expands its range of businesses throughout ASEAN countries, according to a senior executive. Reuben Lai, senior managing director of the Singapore-based company’s financial arm, identified the two countries as next on the list. Grab’s ride-hailing app is […]

Illegal trade takes a heavy toll on country’s economy

Smuggling and illegal trade continue to be a major problems for the country’s economy, says the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI). According to the Business Sentiment Survey issued by UMFCCI in May, illegal trade stands at sixth among the top 10 issues hampering the country’s economy. The survey was […]

MI signs MoU with foreign insurance companies for housing projects

Myanmar Insurance (MI) signed a Memorandum of Understanding (MoU) with Japan, Germany and Malaysia to cooperate on insurance services for the construction of one million housing units to be developed by the Ministry of Construction, at Myanmar Insurance on August 28. Dr Sandar Oo, Managing Director of Myanmar Insurance said: “The country needs to develop […]