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US$1 billion smart city project kicks off with agreement

The government through the Ministry of Construction and Bangkok-based Amata Corp pcl signed a framework agreement on August 22 to jointly develop the Smart and Eco City located in East Dagon township, northeast of downtown Yangon. Although termed an industrial zone project, the US$1 billion Smart and Eco City’s first phase of 2,000 acres comprises […]

MR nixed 36 routes in 4 years amid mounting losses

The Myanma Railways (MR) has cancelled 36 routes that have not been profitable for years, according to the Economic Department of the MR under the Ministry of Transport and Communications. Between the 2015-2016FY and the last mini-budget period, MR has stopped services on 36 routes, including railway mail service, passenger railway service, freight service, and […]

Myanmar seeks new export markets for local cattle

Myanmar will seek new foreign markets to which it can export cattle, said Daw Tin Nwe Yee, a deputy director from the Livestock Breeding and Veterinary Department under the Ministry of Agriculture, Livestock and Irrigation. “We are working on exporting to India through Tamu-Moreh border trading point and will continue to legalise new routes,” she […]

‘Creating triple wins’: inclusive business in Myanmar

They can create new income opportunities for the poor by engaging them in the value chains of profitable businesses while paying better than market rates. They can also provide goods and services to the poor that address key needs in areas such as health, education, housing, finance, water and sanitation. Inclusive businesses are typically profitable […]

Mandalay to rethink wheel tax collection

The Mandalay City Development Committee (MCDC) has announced it will rework the collection of tolls and the wheel tax on vehicles without opening a new tender for the last six months of the 2018-2019 fiscal year. Tolls are one of MCDC’s most lucrative sources of income. Revenue from toll gate collection exceeds K15 billion (US$10.95 […]

Myanmar: Timber export earnings well down on previous years

U Khin Maung Kyi, the Deputy Permanent Secretary of Ministry of Natural Resources and Environmental Conservation, has been quoted as saying income from timber exports and domestic trade will exceed the US$90 mil. in fiscal 2017-18 target which ends 31 March 2018. This represents a considerable decline from past years. The value of wood product […]

Why the construction sector is ailing and how it could recover

To help the construction and real estate sectors expand and stay profitable, government support in the form of tax and loan policy reforms is necessary, developers said. Currently, developers must pay taxes of up to 10 percent on the sale of condominium units priced between K100 million to K500 million. Meanwhile, buyers must pay a […]

As the World Moves to Renewable Energy, Myanmar Will Follow

YANGON — The government has been pushing plans for coal-fired power plants to address Myanmar’s great need for electricity. Renewable energy expert Hans-Josef Fell talks about how Myanmar can develop its energy plan. Fell is a former parliamentarian in Germany and the current president of the Berlin-based Energy Watch Group. The Myanmar government has been […]

Malaysian luxury condos offered to Myanmar buyers

MYANMAR’S per capita annual income, at US$1,204, may be among the lowest in the world, but KAE Alliance believes there are plenty of rich people in Myanmar who can afford a luxury condominium unit outside the country. After offering condos in Singapore in the Myanmar market, the real-estate agency yesterday unveiled some luxury condominiums in […]

Ministry to announce the list of 1,000 top tax payers

The list of 1,000 top tax payers who has paid tax volume ranging from below the Ks. 50 million (US$50,000) to above Ks. 10,000 million (US$10 million) will be announced this week, according to a senior official of the Internal Revenue Department. After submitting the top tax payers’ list to the Parliament, the Ministry of […]