Number of hotels reach 1000

The number of hotels in Myanmar has increased to 1,000, according to a report from the Ministry of Hotels and Tourism. The country presently boasts six five-star, 17 four-star, 83 three-star, 116 two-star and 102 one-star hotels as well as the ministry-approved 599 hotels, motels and inns. The combined capacity is at 38,722 rooms, considered […]

Rubber Exporters Eye Japan to Boost Exports

The Myanmar Rubber Planters and Manufacturers Association (MRPMA) says Japan is the next logical step in the export of Myanmar’s rubber and latex products. Amidst the falling price of rubber, gross national rubber exports are estimated to reach 100,000 tonnes by the end of this financial year. “We believe the European and global economic crisis, […]

Foreign investment in Myanmar flows to the production with piecework system

The amount of investment from Hong Kong within three years has increased by more than US$ 589 million while the majority of funds flow to the production operated under the piecework system. Within three years under the new government’s term from the fiscal years 2010-11, 2011-12, 2012-13, Hong Kong investment rose from more than $ […]

Power struggle: supply falls short

Despite ongoing energy projects, the country’s chronic electricity shortage is set to continue, Minister for Electric Power U Khin Maung Soe says. “Electricity generated from hydropower, natural gas and coal-fired plants cannot overcome the country’s chronic shortage of electricity,” he said at a press conference earlier this month. The minister said Myanmar’s power consumption had […]

Yangon airport accident prone

YANGON, 24 April 2014: Aviation authority says overcrowding and lack of aircraft parking spots at Yangon International Airport has caused a spate of minor accidents and damage to aircraft. Local media quoted an unnamed Department of Civil Aviation official saying the accident rate had increased with the boom in air travel to Yangon. A total […]

Path clear to conclude historic energy block tender in 2014

The past 12 months could be considered a watershed year for Myanmar’s energy sector, as the oil and gas industry saw unprecedented foreign interest. Myanmar’s proven natural gas reserves, some 7.8 trillion cubic feet, were revealed at the World Economic Forum in Nay Pyi Taw in June, but potentials of 0.42 trillion cubic feet of […]

Bean prices continue to grow on delayed India harvest

Due to a late and poor Indian bean crop this year, local mung bean prices have increased as much as 60 percent in some local markets to US$640 per tonne, according to local exporters. U Myan Linn, member of the Myanmar Pulses, Beans and Sesame Seed Merchants Association, said that last year’s pre-harvest prices ranged […]

Office space at a premium as rentals soar

Office space rental prices have surged as high as 1000 percent in some Yangon townships, fuelling demand for office space alternatives in the commercial capital. Growing foreign demand and a burgeoning start-up scene have increased demand for rental property by about 15pc year-on-year, creating an unyielding economy of scale of exorbitant rental prices and conditions. […]