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Construction of Yangon’s Outer Circular Road to Begin by Year End

YANGON—Myanmar’s Ministry of Construction has announced it will construct two circular roads inside and outside Yangon with the assistance of the Japan International Cooperation Agency (JICA). Construction of the outer road is to be divided into four phases and will start with the eastern section, according to U Kyi Zaw Myint, deputy director general of […]

South Korean factory fined K3 million for defying order

The South Korean-owned Macdo wig factory was fined three million kyat (US$2255) by Mingalardon township court for failing to obey a Central Arbitration Council order, its workers said. “The factory will also be sued for closing the factory without permission. We have also reported them to the Labour Department,” Ma Soe Nwe Oo, the factory […]

New China-Backed Industrial Zone Being Constructed in Ayeyarwady

The Myanmar Investment Commission (MIC) has approved the construction of a new industrial zone in Maubin township, Ayeyarwady region, said MIC secretary U Aung Naing Oo. The Maubin Industrial Zone is now being developed on 250 acres of land in Maubin. Construction of the zone commenced in May this year, although official MIC permission was […]

UK to invest in Myanmar’s oil, gas and travel sectors

The United Kingdom has pledged to invest over US$385 million in Myanmar in two years time, according to statistics of the Directorate of Investment and Company Registration. The UK invested over US$2659.954 million in March 2011, and the investment is increased to over US$3045.434 million in June 2013. China is still the biggest investor in […]