Cocokyun, industrial zones in Yangon’s spotlight

THE development of Cocokyun township covering the islands in the northeastern Indian Ocean, as well as the flight and maritime access between the islands and the mainland, are included in Yangon Region’s plan, according to Chief Minister U Phyo Min Thein. Yangon Region will implement a three-year project which will focus mainly on the improvement […]

Myanmar expects 6 bln USD foreign direct investment yearly

NAY PYI TAW, Sept. 12 (Xinhua) — Myanmar is expecting to attract about 6 billion U.S. dollars of annual foreign direct investment starting from 2018, U Maung Maung Win, deputy minister of the Ministry of Planning and Finance said Tuesday. In accordance with the Foreign Direct Investment Promotion Plan (FDIPP), the country is expecting about […]

State capital and major city in Chin State embrace industrial zones

Industrial zones will be built in two major cities in Chin State – Hakha and Paletwa, and local and foreign investment will be welcome, according to a state minister. U Salai I Thakin, Chin state minister for electricity, industry and road transportation, told The Myanmar Times that surveys are being conducted in the cities to […]

Government Renews Pledge to Reclaim Industrial Land From Speculators

The government has repeated its pledge to scrutinise plots of land in industrial zones that have been left inac­tive, and will take action against those they believe are holding onto land in order to sell it on when prices increase, a minister has said. Col Tin Aung Tun, the Yangon Minister for Re­gional Security, said […]

Myanmar courting global producers

The Myanmar authorities have sped up efforts in recent months to increase the country’s attractiveness for global manufacturers. The latest move was revealed in September by the Myanmar Investment Commission (MIC) and concerns the move to allow local and foreign investors into industrial zones across the country. This follows requests by companies from Hong Kong […]

Myanmar Industrial zone operations expected to double in 2017

Businesses in industrial zones are expected to double in number next year because many businessmen are eyeing the sector for investment, said U Aye Thaung, the chairperson of Shwe Lin Pan Industrial Zone. The industrial business plays a vital role in the country’s economy, which is expected to be bolstered by a flood of foreign […]

Industrial zones deal with electricity challenges

The industrial zones which are currently operational are faced with an insufficiency of electricity, even though there are new industrial zone projects being opened across the nation, said entrepreneurs who have invested in the industrial zones. Although efforts are being made to launch the new industrial zones, the old industrial zones need to be improved, […]

Talks held over 300MW solar power facility for Ayeyawady Region

REPRESENTATIVES of the Ayeyawady Region government and the Thailand-based Won Toll Co have held talks over the establishment of a US$100 million solar power facility, which would have the capacity to provide 300 megawatts of electricity per year. During the talks, which were held on 20 May, it was planned that a solar power project […]

Yangon squatter numbers booming

The number of squatter households has increased fivefold in the 19 townships of Yangon city, says researcher Zin Min who carried out extensive research into the slums of the city. He said the number reached almost 44,000 in townships such as South and North Okkalapa, Thingangyun, South, North and East Dagon, Dagon Seikkan, Dawbon, Thaketa, […]

MIC permits five firms

The Myanmar Investment Commission has permitted five businesses, including a hotel project which will be built on the land owned by the army’s Quartermaster-General’s Office, reports say. Three of them were passed with “citizenship investment”, one was a joint venture and the other with foreign investment. The Europe-Asia Beverage Company will produce milk, soymilk and […]