Alibaba aims to grow five times bigger in Myanmar by mid-2019

DRIVEN by rapid gains in smartphone use and people’s willingness to try new things in Myanmar, Alibaba Group plans to grow its business by at least five times in the country in the coming six to eight months, according to Frans Maas, managing director of Shop.com.mm, which is now under the fold of the Chinese […]

Over 5000 workers earn skills certificates in 2017

The Myanmar National Skills Standards Authority (NSSA) has issued more than 5000 certificates recognising workers’ skills during the 2017-2018 fiscal year, said Minister of the Ministry of Labour, Immigration, and Population U Thein Swe. A total of 5855 workers who applied to the NSSA took the examinations and 5164 workers were issued a certificate confirming […]

Myanmar improving but still ‘super challenging’ for business: Study

[YANGON] Family-run firms, a lack of transparency and murky money networks in the former junta-led country continue to make doing business in Myanmar “super challenging”, a new study mapping the country’s top companies said on Monday (March 26). Myanmar’s economy remains dominated by military firms and an elite of crony capitalists – a legacy of […]

New Yangon City Phase-1 expected to cost over $ 1.5 bln

Infrastructure development of New Yangon City Phase-1 is expected to cost over US$ 1.5 billion, Yangon region Chief Minister Phyo Min Thein said at a press conference on the launch of New Yangon Development Co Ltd (NYDC) at Lotte Hotel in Yangon on March 31. Phyo Min Thein, Yangon region Chief Minister said: “The establishment […]

Myanmar: Transparency should be the key to boost the teak market

The authorities in Myanmar were reminded by the Environmental Investigation Agency (EIA) that if they don’t clarify the flow of logs which go from the forests to the mills, the legality of the wood for export will always be doubted by the teak importers. Myanmar has been striving to ensure forest conservation and the production […]

Agreement for Hanthawady airport close to signing

An agreement appears in the offing as the coordination committee for the Hanthawady International Airport construction project heads into its sixth meeting with the tender-winning company optimistic that they could emerge with a contract. Coordinated efforts are being made to get moving on the project for an international airport in Bago Region. The first week […]

Yoma awards building contracts worth over US$400m for new Yangon developments

SINGAPORE – Yoma Strategic Holdings on Wednesday (Nov 29) announced the signing of an agreement with two global construction companies to build its integrated real estate development Yoma Central, and The Peninsula Yangon, the former headquarters of the Burma Railway Company which will be restored into a luxury hotel. Both projects sit on an about […]

Bus company loses YBS licence after complaints of poor service

The Yangon Region Transport Authority (YRTA) cancelled the licence of a public-private partnership (PPP) company under the Yangon Bus Services (YBS) due to poor service, YRTA said on Thursday it officially stopped the ‘Khit Thit Nyein Chan Yay’ PPP company from operating under the YBS for failing to provide good service to commuters over an […]

M-development Corp signs Chanmyashwepyay project in Mandalay

M-development Corporation (Myanmar) Co has signed a Build, Operate and Transfer agreement with the Mandalay City Development Committee (MCDC) to upgrade the Chanmyashwepyay (Kywesekan) Bus Terminal over a period of 50 years, at K3 billion per year. The terminal will be upgraded in accordance with international standards and built to function like an airport. Targeted […]

Myanmar moves to stave off credit crunch

NAPYITAW — Myanmar’s banking system is facing tough new regulations that could take more than $1 billion worth of local currency out of circulation, severely curtail lending and badly hurt the economy if a tight compliance deadline is not eased, senior bankers have warned. The Central Bank of Myanmar published its first set of modern […]