Myanmar has scaled back plans for a Chinese-backed port on its western coast, sharply reducing the cost of the project after concerns it could leave the south-east Asian nation heavily indebted, a top government official and an adviser told Reuters. The Kyaukpyu port is a key part of China’s ambitious Belt and Road initiative, aimed […]
Some businesses see positive impact from higher minimum wage
March 15, 2018 by
The Myanmar daily minimum wage has been set at K4,800, which is a rise of 33 percent from the K3,600 workers were drawing previously. The change was announced by the National Committee for the Minimum Wage on Monday. The change comes after months of negotiations between business owners and workers unions. Before the current wage […]
Collier Property Report – Yangon CONDOMINIUM Q3 2017
December 1, 2017 by
Affordability Remains Unadressed Over the last two quarters, the market has witnessed a slight uptick in demand following extensive pricing promotions for many projects. While this has buoyed overall sales take-up, Colliers sees the performance as temporary, and the strategy as financially unsustainable. We advise developers to look long term instead. Future projects should generally […]
HK: Myanmar Eyed as Source of Domestic Helpers Amid Surging Demand
November 23, 2017 by
Hong Kong is looking into importing domestic helpers from Myanmar to meet surging demand, Secretary for Labor and Welfare Law Chi-kwong said. It is all part of the government’s efforts to increase the sources of maids and lower the city’s reliance on the Philippines and Indonesia, Law said in a blog post on Sunday, adding that […]
Dilemma on minimum wages could lead to better productivity
November 9, 2017 by
Concern is rising among employers over demands that the minimum wage be raised to K4,800- K6,600 ($4-$5.20) per day from K3,600 per day currently. That’s a potential increase in wages of more than 80 percent, a move which, if implemented, could put many companies out of business. The Confederation of Trade Unions in Myanmar (CTUM), […]
Thailand’s PTT poised to gain from Myanmar deal
August 15, 2017 by
THAI and Myanmar officials will sign a memorandum of agreement at a meeting of Asean energy ministers next month that will take energy giant PTT a step closer towards a major gas project across the border. The singing of the agreement will pave the way for PTT to conduct a study on a Bt20 billion […]
Yangon lacking resilience to face future disasters
April 5, 2017 by
Nothing is normal these days when it comes to Myanmar’s weather. In Yangon, residents talk about a time when they used to wear sweaters or scarves in the colder months, when the early morning was crisp and people would exercise to stay warm. Not anymore. Yet, this rise in temperature is just a small indicator […]
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