Yangon government reviews cinema rental fee

Yangon Region government is reviewing the rental fee for state owned and private cinemas, Minister Daw Naw Pan Thinzar Myo for Karen Affairs said Tuesday at Yangon Region Parliament session. MP U Kyaw Zay Ya from Dagon Township asked the parliament when the regional government started renting out cinemas and stalls in Yangon Region and […]

No open tender for Nyaung-U airport upgrade

Subscribe to our tender alert mailing list The Nyaung-U airport in Mandalay Region will be upgraded into international airport soon, with the support from the Japanese government, U Ye Htut Aung, deputy director-general of the Department of Civil Aviation (DCA) told The Myanmar Times on August 28. The airport is near the tourist destination Bagan […]

Ponzi Scheme Takes Millions From Rural Myanmar

In the wake of My­anmar’s most wide­spread and finan­cially devastating ‘Ponzi scheme,’ millions of dollars have been lost, thousands of people de­frauded, and a myriad of ministries left pointing fingers. In December 2016, Sax­on Capital Limited (SCL) began selling shares to residents of Pyay, Bago, Mawlamyine, and other townships promising an 80 percent return on […]

Department to call for tenders to upgrade three domestic airports

Subscribe to our tender alert mailing list The tender call invites developers who are interested to upgrade the infrastructure projects through a public-private partnership (PPP) system, U Ye Htut Aung, deputy director general of DCA told The Myanmar Times. Public-private partnerships between a government agency and private-sector company can be used to finance, construct and […]

Trade on the rise, more FDI needed: U Ye Min Aung UMFCCI VP

U Ye Min Aung, vice president of the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry, told the Global New Light of Myanmar his views on Myanmar’s economy in an exclusive interview. Q: Please tell us about the current economic situation in Myanmar? A: At the present period, global economy […]

Oway digitizes Myanmar’s taxi market

The Global New Light of Myanmar Daily spoke with U Nay Aung, founder and chief executive officer of Oway Ride, one of a number of mobile application-based transportation service company in Myanmar whose competitors include international taxi firms like Uber and Grab. Q: May I know how you got the idea to start Oway Ride […]

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 […]

Govt to Build 1m Apartments in 330 Towns By 2030

Myanmar is planning to finish the construction of over 1 million apartments in 330 towns across the country by 2030 under its urban development programme, according to the Ministry of Construction. The Department of Urban and Housing Development under the ministry is providing proper housing for the people in accord with its policy on long-term […]

MoUs Inked to Step up Thailand-Myanmar Cross-Border Trade

​​ Business communities and the governments of Thailand and Myanmar have agreed on bolstering cross-border trade by improving existing channels and developing new routes, and with an emphasis on the exchange of data and a new cross-border SEZ. The Thai delegation, led by Thailand’s Deputy Prime Minister Somkid Jatusripitak, met with State Counsellor Daw Aung […]

Thai Cement Giant SCG Sees 2016 Profits Up Ahead of Myanmar Plant’s Imminent Opening

​​ Thai cement compa­ny SCG has posted a 24 percent year-on-year profit increase for the 2016 financial year driven by the perfor­mance of the company’s chemical business. SCG, which also produc­es packaging and indus­trial chemicals, posted a $1.6 billion profit for 2016 but saw a drop in revenue for the final quarter of the year, […]