Regional Govt to Build Bridges, Underground Road System

The regional government plans to build bridges and an underground road system to connect Yangon’s older and newer sections, announced Chief Minister Phyo Min Thein on July 11. “Yangon is densely populated, and the regional government plans to expand its area. We plan to build a new town on the opposite side of the Yangon […]

Yangon New City Project makes few adjustments

The Yangon New City Project will be carried out with collaboration from the World Bank, International Monetary Fund (IMF), International Finance Corporation (IFC) and foreign loans, said Yangon Region Minister for Electricity, Industry, Road and Communication Daw Nilar Kyaw at the 2nd Yangon Region Hluttaw meeting held on 10 July. The new city will be […]

Ministry, UMFCCI Join Calls for Import Substitution as Import Rises

The import volume has increased by US$600 million, compared to the same period from the previous fiscal year, according to 2017-18 trade statistics up till May from the Ministry of Commerce (MOC). Total trade volume from April 1, 2017 to June 2, 2017 is $5.07 billion – an export of $1.9 billion and import of $3.11 billion. When compared to last year’s performance, export increased by about $100 million while Myanmar imported $600 million more than last […]

Centralising Taxi Operations to Ease Congestion

The Yangon Region government would be implementing a new scheme under which taxis would be managed by taxi service operators, said Daw Nilar Kyaw, regional minister of electricity, industry and transportation, in a bid to ease traffic congestion in the country’s commercial capital. The minister said there were 80,000 taxis running on the road all […]

Reducing Low-Cost Housing Instalment in The Works

Discussions are ongoing to reduce the initial 30-percent requirement to 20pc for low-cost housing instalments, said U Win Zaw, managing director of the Construction and Housing Development Bank. “We started discussing the amount for down payments which a buyer has to pay. We are trying to reduce it to 20pc and to get finance for long-term loans. If lenders can give […]

Upgrade Underway to Improve Power in Yangon

The government is upgrading electricity generation, transmission and distribution in Yangon Region, Daw Nilar Kyaw, minister of Electricity, Industry, Transport and Communication, told a news conference to mark the first anniversary of the government. She said that during fiscal 2016-17, the Yangon Electricity Supply Corporation (YESC) installed new cables in a pilot project in Hlaing, Dala, Tarmwe and Hlaing […]

Thilawa SEZ attains over US$120million FDI in two months

Over US$122million of foreign direct investments flowed into Thilawa Special Economic Zone (SEZ) so far in the current Fiscal Year 2017-2018, under previously permitted investments by Myanmar Investment Commission increasing. The investors from 16 foreign countries put investments into Thilawa.Last Fiscal Year 2016-2017 saw FDI of US$262.588million. Thilawa received FDI of nearly US$ 980million, including […]

‘Myanmar Banker Leadership Program’ launched

Siam Commercial Bank (SCB), in collaboration with Myanmar Banks Association and Thammasat University, launches SCB Bankers Academy “Myanmar Banker Leadership Program”, the first program exclusively developed for Myanmar banking executives, according to a press release. To foster talent in the banking industry, the program is specially tailored for Myanmar banking executives to build skills and […]

Split visions of Dawei’s future as Thailand, Myanmar restart special economic zone project

The governments of Thailand and Myanmar are set to restart the development of the Dawei deep-sea port and special economic zone, after both countries set up a joint coordinating committee to work out investment details of the project. In 2008, both countries signed a memorandum of understanding to develop a massive land area of 200 […]

KBank Broadens SME Support in Myanmar

KBank, which styles itself as a champion of small business, has been helping entrepreneurs in Myanmar over the past three years, with short training sessions focused on issues including knowledge transfer and raising awareness of business opportunities. Pattanapong Tansomboon, first senior vice president of K Bank, said in an interview that the bank was broadening […]