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Yangon builds bridges to its future as megacity

YANGON/SEOUL/HANOI — As Yangon pushes out in all directions on its way to becoming Myanmar’s first megacity, East Asian countries are snapping up the opportunity to build bridges, industrial parks and other infrastructure in its long-neglected surroundings. “Myanmar is developing its infrastructure with the help of our neighbors. One example with South Korea is the […]

Garments sector poised to boom in Pathein

The garment industry seems poised to boom in Ayeyarwady Region, with a company developing an industrial park near Pathein signing a contract with a Chinese firm that plans to build 50 garment factories within two years. The new factories would dramatically expand the town’s nascent manufacturing sector, which has for several years been attracting interest […]

Yangon firm “implements” Bago industrial park without known EIA

Yangon-based Hantharwady Development Public Company has begun the implementation of the proposed industrial park in Bago Region but The Myanmar Times could not find any environmental assessment or approval regarding the project, which is required by law. Bago’s regional government has released its investment report for the last two years on July 20. A domestic […]

New Chair of Kyaukphyu SEZ Wary of Chinese Loans

YANGON — Myanmar will endeavor to take on no loans from China to complete the Kyaukphyu Special Economic Zone (SEZ) but would offer the developer no sovereign guarantees to mitigate risk if it does, said the project’s new chairman, seeking to allay fears of a debt trap. Sean Turnell, an economic adviser to State Counselor […]

Myanmar to Get Better Profit-Sharing Deal in Rakhine Port Project

Myanmar is set to receive a greater amount of the profit-sharing in a $7.2 billion deep-sea port development project in the town of Kyaukphyu in western Rakhine state, though negotiations with the main Chinese investor are ongoing, a commerce ministry official said Monday. A consortium led by CITIC Group Corporation Ltd., China’s state-owned investment company, […]

Myanmar’s flagship industrial park ready for takeoff

YANGON — Myanmar’s first industrial park has grown into a thriving hub of foreign investment in its first two years, in a country seeking to catch up quickly with its more industrialized Southeast Asian peers. During the two years since it opened in September 2015, the Thilawa industrial park in a suburb of Yangon, the […]

TEEMA to invest NT$14 billion in Myanmar

TAIPEI, Taiwan — To tap the business potential of Myanmar, the Taiwan Electrical and Electronic Manufacturers’ Association (TEEMA) recently decided to invest NT$14 billion to develop an industrial park in southern Myanmar. The Economic Daily News earlier cited industry insiders to report that the park is in Myanmar’s southern Irrawaddy Division. TEEMA (台灣區電機電子工業同業公會) said it […]

Taiwanese Firms Look to Cash In on China’s Strained Relations with Myanmar

Tiny Taiwan is bidding to upstage its giant neighbor by investing heavily in Myanmar while the Southeast Asian nation’s relations with China remain cool. After a series of recent small-scale Taiwanese investments, the Taiwan Electrical and Electronic Manufacturers’ Association (TEEMA) has announced plans to spend nearly half a billion dollars developing an industrial park in […]

Hong Kong manufactures to set up garment park in Myanmar

Garment manufacturers from Hong Kong have entered into an agreement to set up their first industrial park in Myanmar, reports the South China Morning Post. The apparel park would be set up on 200 hectare area in Yangon, the former capital of Myanmar. The park would be part of the 400-hectare Thilawa Special Economic Zone, […]