Domestic airlines will not raise airfares yet despite rising fuel prices

Despite rising global oil prices, domestic airlines have no plans yet to raise airfares to compensate for higher jet fuel costs. They said this will help encourage domestic air travel while the number of foreign travelers within the country is still low. “We haven’t increased our fares even though fuel costs have risen. We have […]

Amata Holding to deploy Bell helicopters in Mergui

Tourism and hotels company Amata Holding Public Co Ltd is in negotiations with representatives of an American aviation company for a deal that could bring helicopter transportation and sea plane flights to the Mergui archipelago in Kawthaung, Tanintharyi Region in the south of Myanmar. “We intend to start helicopter and sea plane operations around the […]

China to hold 70% stake in Myanmar’s planned strategic seaport

Myanmar will hold a 30 percent stake in its strategic deep-water seaport project led by cash-rich China, giving Beijing a 70 percent interest, under their final agreement reached during recent talks between the two countries, according to a visiting senior Myanmar official. That is an improvement for the emerging Southeast Asian economy from the initially […]

Myanmar launches investment promotion plan amid toughening conditions

The Myanmar Investment Commission (MIC) on October 8 launched its Myanmar Investment Promotion Plan (MIPP) for the time frame between 2016-17 and 2035-36. The plan outlines five strategies to actively promote investments in the local economy, including new policies and regulations, institutional development, infrastructure development and leveraging on local business systems, industries and human resources. […]

Sembcorp starts commercial operation of 225-MW Myanmar power plant

SEMBCORP Industries on Wednesday announced that its 225-megawatt gas-fired Sembcorp Myingyan Independent Power Plant (IPP) in Mandalay, Myanmar, has successfully commenced full commercial operation following its first phase operation in May this year. The approximately US$300 million power plant uses advanced combined-cycle gas turbine technology that maximises power output while minimising emissions. With the successful […]

World Bank cuts Myanmar’s growth forecast to 6.2%

The World Bank has revised downwards its forecast for Myanmar’s economic growth by 0.5 percentage points to 6.2 percent in the fiscal year 2018-19. The World Bank East Asia and Pacific economic update released this month downgraded Myanmar’s GDP growth projections from the previous forecast, saying seasonal floods, rising cost, inflationary pressures and the Rakhine […]

Yangon Gov’t Abused Its Power by Investing in Controversial New City Project: Lawmaker

The Yangon Regional government was accused of abusing its power by investing 10 billion kyats ($6.5 million) in a controversial new city project on the western bank of the Yangon River without the parliament’s prior approval. In March, the Yangon government launched New Yangon Development Company (NYDC) which is to be the developer of the […]

First Tourists Arrive on New Free-Visa System, 21 Western Countries to be Added

As an initial phase of implementing its new tourism strategy, the tourism ministry launched a free-visa system for tourists from Japan, South Korean and China’s Hong Kong and Macau on Monday. The move is likely to be followed in the coming years by the lifting of visa requirements for citizens of another 21 countries—especially western […]

Fixed broadband next phase of growth in Myanmar telecomms: ZTE

Yan Xiao, CEO of ZTE Myanmar, is convinced the next big area of growth in the Myanmar telecommunications sector lies in high-speed, fixed broadband internet. With competition in the mobile space getting more intense, now is a good time for internet service providers (ISPs) to consider offering high-speed, fixed broadband (FBB) services to retain customers […]

From boom to bust for Bagan hotels

The humanitarian crisis in northern Rakhine and jailing of two Reuters journalists have hit hospitality businesses in Bagan hard, industry players admitted. But the problem goes beyond these two factors, they said. The government’s lack of law enforcement and absence of infrastructure support have throttled hotels and tourism. On a recent visit, a herd of […]