Myanmar’s Post-Election Future With India

The November 8 election in Myanmar produced a stunning victory for the opposition National League for Democracy (NLD) and its leader Aung San Suu Kyi, who trounced the military-backed Union Solidarity and Development Party. However, a clause in the constitution will prevent Suu Kyi from becoming president, and the military is not likely to relinquish […]

Myanmar defends lacklustre bond sale

YANGON — Myanmar’s Central Bank on Thursday defended its first sale of government debt under the reformist regime as “successful”, despite selling less than half of the US$50 million offering, as it looks to finance rising state spending. In the latest of a string of economic reforms under the quasi-civilian government that replaced military rule […]

Economic reforms gain momentum

It’s been almost four years since President Thein Sein came to power and launched his reform programme. This year sees Myanmar attempt to connect to the global economy. The economic reform is a long road ahead that requires strong efforts from both the government and private sectors. There is some progress, especially in the liberalisations […]

Myanmar’s financial sector still weak, say experts

Myanmar’s financial sector is still weak compared with other economic development sectors, said experts from home and abroad at the Seminar on Myanmar’s Economic Transition; Issues and Options held in Yangon on Nov 30. Tin Win Aung, chairman of Myanmar Institute of Economic Graduate Association said, “One of the weak sectors among others is the […]

Shwelinpan low-cost housing to go on sale

Apartments in the Shwelinpan low-cost housing project in Hlaingthaya Township will be sold by end of June, according to Department of Human Resettlement and Housing Development. The project so far has ten buildings, each four storeys high with six apartments per floor, comprising of 468 square feet each. Prices range from US$13,000 and U$12,500 and […]

Mandalay leads tourism sector with 302 new hotels

Mandalay Region leads other cities and tourist destinations in Myanmar with 302 new hotels approved, according to data from Ministry of Hotels and Tourism. Out of 960 hotels granted operating licences across Myanmar over the last year, 302 have been opened in Mandalay while 238 have opened in Yangon Region. The data released by the […]

Mitsubishi Electric to Open Yangon Branch

Mitsubishi Electric Corp said its Singapore-based subsidiary, Mitsubishi Electric Asia Pte Ltd, will establish a branch office in Yangon. The Japanese electronics giant said the new office, which will start operations on April 25, will coordinate Mitsubishi Electric’s efforts to expand business in Myanmar by conducting market research, collecting information and providing support for infrastructure […]

Manufacturing Sector Receives Most FDI

Over half of the total foreign investment made in the current 2013-14 financial year went into Myanmar’s manufacturing sector, a top Myanmar Investment Commission (MIC) official said. “Manufacturing sector has developed significantly during this financial year. More than 80 percent of the foreign investment came to this sector,” U Aung Naing Oo, director general of […]

Myanmar to participate in U.S. fishery exhibit

Myanmar is planning to participate in the international fishery and sea products exhibition in Boston, United States from the 16 to 18 of March. This will aim to showcase Myanmar’s budding potential in the international sea food and fishery market. “We are to take part in the upcoming Boston international fishery and sea products exhibition […]

Yangon gov’t to sell apartments at Ks 12 million per unit

YANGON—Apartments from the Shwe Linban low-cost housing project, located in Hlaing Thayar Township in Yangon, will soon be sold at less than Ks 12 million (US$ 12,000 ) per unit, according to the Department for Human Settlement and Housing Development. “The Yangon regional government is now discussing the sale of apartments from the Shwe Linban […]