Myanmar’s first cable car on track to open in December

Construction of the Kyaikhteeyoe cable car project, the first such service in Myanmar, connecting Yathaetaung and Kyaikhteeyoe hill in Kyaikhto, Mon State, is 90 per cent finished and is planned to open in the first week of December, according to the project officer. “It is nearly completed. We are now doing the finishing touches to […]

Chinese developer to invest US$390m in Mandalay project

The Myotha Garden town project is being developed with the aim of attracting foreign investment. China’s Mandalay Boashang Myotha Development Co Ltd plans to invest US$390 million in the Myotha Garden town project that is being jointly developed by the Mandalay regional government and Mandalay Myotha Industrial Development Public Co. Ltd. (MMID), sources said. The […]

China Eyes Mon State Investment

MAWLAMYINE, Mon State — Chinese Ambassador to Myanmar Hong Liang indicated his country is considering investment in Mon State during a meeting with the state government on Friday. According to the Chinese ambassador, investors are interested in rubber products manufacturing, fruit cultivation and the tourism sector, said Mon State minister for natural resources and environmental […]

Legislator questions hotel project at defence museum

A legislator on Tuesday asked the parliament for more details about a US$320 million hotel project at the Defence Services Museum. U Kyaw Zayar, Hluttaw representative of No.2 Dagon township, said he wanted to know the agreement about this project and how the people can benefit from it. The legislator also wanted to know if […]

Developer brushes off concerns about Myotha Industrial Park

DEVELOPER Mandalay Myotha Industrial Development has brushed off human rights concerns and accusations in relation to the Myotha Industrial Park in Mandalay, while the International Federation for Human Rights argued that the process for the establishment of the park underscores the failure by the developer to conduct proper human rights due diligence. Tensions and confrontations […]

Yangon Stock Exchange looks for Belt and Road boost

The Yangon Stock Exchange, launched in December 2015, expects to enjoy indirect benefits from China’s Belt and Road Initiative as more Sino-Myanmar joint ventures are set up and demand for capital increases. “China is a major economic and trade partner with Myanmar. Myanmar’s enterprises need to grow together with their Chinese counterparts,” said Thet Htun […]

Chinese car manufacturer expands to Mandalay

CHINESE manufacturer expects the production of seven types of cars to commence in Mandalay Industrial Zone in the near future, according to Yan Yu, Shining Star International Holdings (SSIHL) chair. SSIHL is involved in real estate, hospitality, property management, education, healthcare and tourism related enterprises in China and Myanmar. The exact location within the Mandalay […]

PPB disposes of Myanmar packaging business for US$2.4m

KUALA LUMPUR (Sept 20): PPB Group Bhd is disposing of its entire equity interest in Tefel Packaging Industries Co Ltd in Myanmar for US$2.4 million (RM10.06 million). PPB’s 79.9%-owned indirect subsidiary Tego Sdn Bhd inked an agreement to transfer its entire 100% stake in Tefel Packaging Industries Co Ltd — a polypropylene bags manufacturer — […]

Myanmar’s FDI on target despite Rakhine situation

NAYPYITAW — In a bright, well-carpeted conference hall in Naypyitaw — Myanmar’s sprawling capital built by the former military government — more than 1,000 investors and business executives gathered earlier this week for the annual Euromoney Myanmar Global Investment Forum. The opening remarks on Sept. 12 by speakers including government officials and foreign and local […]

Hantharwaddy airport priority for govt

THE planned Hantharwaddy International Airport is the only priority in the area of aviation under the National League for Democracy-led government, said U Win Khant, permanent secretary of Ministry of Transport and Communications. He made his comments in relation to the government’s Transport Master Plan during the sideline interview with The Myanmar Times at Myanmar […]