Myanmar Announces Restriction of Some Investment Activities

Myanmar Investment Commission (MIC) has announced restriction of some investment activities, as some sectors will only allow investment by the state. According to Global New Light of Myanmar Friday, sectors restricted to state investment include security and defense, arms and ammunition for national defense, national postage stamps, establishment of post offices and post boxes, air […]

China Remains Myanmar’s Largest Foreign Investor

According to data released by the Directorate of Investment and Company Administration (DICA), China remains Myanmar’s largest foreign investor with 163 projects valued at US$18.5 billion as of February this year. Singapore stands in second place with investments of $16.65bn spread throughout 230 projects, while Thailand is third with $10.6bn invested in 100 projects, according […]

Yangon Government to Privatise Running of Golf Driving Ranges, Toll Booths

Yangon’s munici­pal authorities are planning to invite bids from companies to run 43 state-owned enter­prises in the hope of mak­ing them more efficient, government media has reported. The enterprises include the collection of road tolls fees, the operation of public toilets at markets, aquatic feedstuff busi­nesses and golf driving ranges, an official from the Yangon […]

Myanmar media outlets enter new era

After more than a year of civilian rule in Myanmar, the country’s media has started to emerge from a climate of fear and suppression. But as the country’s media sector grows rapidly, there are still challenges facing the industry in this newly opened nation now embracing modern times. “[The] Press Freedom Index’s ranking said that […]

Suu Kyi Opens NLD Government’s First Public Housing Project

​​ You’ll be forgiven if you’re skeptical about the latest pledge from Yangon’s electricity minister: she has said there will be no power cuts in the city this hot season. Any resident who has been tormented by mosquitoes while sweating in pitch darkness knows that city authorities have always struggled to keep the juice flowing […]

Yangon Regional Government Says it Will Step Up Efforts to Reduce Earthquake Damage

​​ Yangon’s regional government is planning to form an earthquake monitoring committee in an effort to reduce the potential damage to the city’s buildings and to take responsibility for carrying out rehabilitation activities, state media has reported. The committee will be responsible for the promotion of public awareness of earthquakes and the development of a […]

Myanmar Probes Controversial China-Backed Dam

YANGON: Myanmar is probing whether to resume construction on a controversial Chinese-backed dam, state media reported Saturday, with promises to listen to fierce public opposition to the project. The fate of the $3.6 billion Myitsone dam in northern Kachin state has hung in the balance since it was abruptly halted by Myanmar in 2011 following […]

Gems Emporium Expected to Attract US and EU Traders

RANGOON — More Western jade traders are expected to attend to the upcoming Naypyidaw Gems Emporium, after the lifting of US economic sanctions last month. Among the American restrictions which were lifted was a longtime ban on transactions involving jade, gems and jewelry from Burma. The move by the US government—announced in September—was criticized by […]

Jade Trade: Official Export Earnings Down for 2015

RANGOON — Revenue derived from Burma’s official jade exports declined in the first nine months of the 2015-16 fiscal year, as the lucrative industry continues to draw fire over safety, ethical and environmental concerns. According to figures from the Ministry of Commerce, US$567 million in revenue was derived from jade exports from April to December […]

Funds cleared for Yangon’s new airport

YANGON, 4 February 2016: A framework agreement to facilitate Official Development Aid (ODA) loans for the construction of Hanthawaddy Airport Development was signed late last week. Official media, Global New Light of Myanmar, quoted Transport and Rail Transportation Minister, U Nyan Tun Aung, saying that following a series of meetings between Department of Civil Aviation […]