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Electricity sector could lose K630billion in 2018-19

The electricity supply sector is forecast to lose about K630billion in the coming 2018-19 fiscal year, said Dr Tun Naing, deputy minister for Electricity and Energy, told Pyidaungsu Hluttaw yesterday. “Power generation and distribution is expected to lose about K629.9 billion in the fiscal year of 2018-19,” Dr Tun Naing said during his presentation. In […]

Trade on the rise, more FDI needed: U Ye Min Aung UMFCCI VP

U Ye Min Aung, vice president of the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry, told the Global New Light of Myanmar his views on Myanmar’s economy in an exclusive interview. Q: Please tell us about the current economic situation in Myanmar? A: At the present period, global economy […]

Despite capacity constraints, oil & gas industry still promising

Win Khaing, a member of National Energy Management Committee and chairman of United Engineering Co Ltd, said the industry itself brings a lot of opportunities for foreign investors to do business in the newly-opened nation. “Probable and possible uncontracted gas would amount to 4,000 MMCFD over 30 years. It definitely indicates the level of optimism […]

Tourism tops investment poll

The tourist sector is receiving the most local investment, followed by industry and construction, according to the Myanmar Investment Commission (MIC). Aung Naing Oo, secretary of the MIC, said: “Investment has been allowed since 2011-2012. There were 34 projects by Myanmar investors worth Ks 240 billion (US$240 million) in 2011-2012. A total of 65 projects […]

Electricity problems persist despite progress

Despite increased investment in Myanmar’s electricity sector in 2013, including by international financial institutions, sustainable development remains a challenge. Only 26 percent of the population has access to government electricity supplies, government figures say, while in the past year new projects to increase production and a proposal of price hikes to reduce consumption and bring […]