New insurance scheme to provide aid in obtaining loans

Co-operative Bank (CB) is preparing to launch a new Credit Guarantee Insurance (CGI) system so that it can extend wider financial assistance to the country’s small and medium enterprises (SMEs). CGI covers businesses against non-payment of debts owed to them by business customers for goods or services provided on credit terms. As part of that […]

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 […]

Min Residences to start construction in September

“We have created a joint venture to invest in Min Residences. “The complex will be located next to the second central business district of Yangon. It will be first tower in Myanmar with 60 fitness and recreational facilities such as sports rooms, a gym, a kids’ playground area and swimming pools,” he said at a […]

Can Myanmar’s garment industry deliver decent jobs?

Myanmar was ruled by a military junta for 50 years. After such a long period of economic isolation, foreign investment is now booming as economic sanctions have been lifted following Myanmar’s first steps towards democracy. The export-oriented garment industry is benefiting from these new opportunities and is expanding at a rapid rate. Lured by low […]

FDA to Clean Up the Drinking Water Industry

The Food and Drug Administration is once again taking aim at toxic drinking water, attempting to stop bacteria-laden and unregistered bottles from proliferating in the markets. Last week, the FDA took action against six unregistered and unlicensed water producing factories in Yangon. The six unregistered companies were based in Hlaing, East Dagon, South Okkalapa, Mayangone, […]

Analysts Say 2016 is the Worst Year for Rangoon Construction Sector

​​ RANGOON — Rangoon’s construction market faced its hardest year in 2016, as a result of changing government policies during a market cooldown, say critical industry observers. During the best development years, 2005 to 2014, high-end condominiums and low-cost apartments sprung up around Rangoon, construction and real estate observers said. As the market neared its […]

Rangoon Govt Orders Safety Modifications to High-Rise Buildings Under Construction

RANGOON — Despite complaints from developers, a review committee for the construction of high-rise buildings has ordered safety modifications to 12 structures, stating that failure to follow Rangoon’s updated urban planning standards could cause harm to the city and its residents. This week the Rangoon divisional government ordered the developers of the buildings to reduce […]

Ministry suspends controversial Yangon tender

The Ministry of Information has stopped selling application forms for a controversial tender, following a motion in parliament to suspend the tender process. No further tender application forms will be distributed in the case of the 90-acre Yegu transmitter site in Mayangone township, Yangon, at the corner of Waizayandar and Gandamar roads, an official from […]

Epic state auction hushes market

The big sell-off has finally arrived. The Privatisation Commission, charged with auctioning state-owned enterprises, on February 13 released a list of 268 sites that will be sold off nationwide, with a final bid submission date of February 24. There are 157 properties in Yangon up for grabs, including many in Bahan, Yankin, Insein, Hlaing, Mayangone, […]

Pioneering bus line forced to lay off staff as losses mount

A joint attempt by the government and private sector to solve many of the problems of Yangon’s traffic congestion is close to collapse. Forever Green Road Transport has fired 15 bus conductors, about 30 percent of its total, citing monthly losses. A spokesperson for the company blamed the lack of government support. The company – […]