Myanmar Business Leaders Bullish on Future Under Suu Kyi-

TOKYO — Business leaders in Myanmar are confident in the country’s future under the National League for Democracy government headed by de facto leader Aung San Suu Kyi, although they say improvements in infrastructure and the banking sector are needed to assure growth. Speaking at a Myanmar economic forum sponsored by Nikkei Inc. in Tokyo on […]

Myanmar Companies Ramping up Tourism Industry

YANGON — Leading companies in Myanmar are building up the tourism industry in a bid to capitalize on the increasing number of foreign visitors to the Southeast Asian country since democratic reforms took place. First Myanmar Investment signed an agreement in October with its Singapore-listed affiliate Yoma Strategic Holdings and other companies, including SHC Capital Asia, […]

Residents Fear Restart of Coal Power Plant

A coal-fired power plant in southern Shan State that was shut down two years ago due to residents’ complaints may be reopening, despite the opposition of the local community, villagers say. They are already accusing local officials of breaking their promises. Test operations at the plant, in Tigyit village, Pinlaung township, were carried out on […]

YCDC Threaten To Take Action Against Mya Kyun Thar Developers

Yangon City Development Committee (YCDC) has threatened to take action against those companies who do not cease construction and resubmit their proposals on developments at parkland beside the city’s Inya Lake. U Nay Win, deputy department head of engineering (building) at YCDC, told The Myanmar Times yesterday that YCDC had instructed firms working at Mya Kyun […]

Chinese firm to restart Myanmar’s only coal plant

China’s Wuxi Huagaung Electric Power Engineering is upgrading the entire Tigyit plant in southern Shan State near to the famous Inle Lake, which has been out of use for several years. Local authorities held a public meeting in a village near to the site on April 24 to explain the company’s environmental and social impact […]

Officials split over future of commercial projects on prime Yangon parkland

An outspoken Yangon City Development Committee member says he has ordered suspension of a number of construction projects on parkland beside the city’s Inya Lake, while the department responsible for contracting the companies says the projects are still going ahead. The decision in 2013 to allow eight companies to build commercial projects in Mya Kyun […]

Thousands of Myanmar-registered companies risk being struck off

More than 20,000 companies are at risk of being struck off by the regulator, including local conglomerates and multinationals, after failing to respond to a request for confirmation that they are still in business. The Directorate of Investment and Company Administration published the request through state media in September, with a view to cleaning up […]

Hilton Opens Vocational Training Centre

Hilton Worldwide has recently opened the Hilton Vocational Training Centre at the Hilton Naypyitaw in Myanmar’s capital city. The American hotel chain said the facility aims to develop the next generation of hotel operations leaders and meet the demand for young talent in the country’s booming hospitality and travel industry. The Hilton Vocational Training Centre […]

Max Myanmar sells two beach hotels to Amazing Group

Max Myanmar Hotels has sold two beach resorts toAmazing Hotels & Resorts – one on land that was confiscated from villagers by the Tatmadaw ostensibly for the development of a military compound. The subsidiary of conglomerate Max Myanmar Holding sold its hotels on Chaungtha beach in Ayeyarwady Region and Ngapali beach in Rakhine State earlier […]

Hilton to sign with Crown Advanced for Yangon hotel

International hotel chain Hilton Worldwide is preparing to sign a deal with local conglomerate Crown Advanced Construction to operate a hotel in central Yangon, a director at the Myanmar firm told The Myanmar Times. The news comes more than two years after Hilton Worldwide signed a deal with Thailand-based LP Holdings in March 2013 to […]