Only high-tech firms for hydro, coal power

Only companies and countries with access to the latest technologies and technologies which minimise environmental impact will be considered to take part in hydro and coal power projects in Myanmar, a senior official from the Ministry of Electricity and Energy told The Myanmar Times. “For electricity generation sources, we are planning to consider only the […]

International hotel chains open their doors in Myanmar

Since opening up the country, more tourists come and discover Myanmar and it is expected to grow even more. Therefore, more and more investors are seeing chances to begin their business here. That is why a lot of new hotels will open their doors as well in 2017. Since the new government, led by National […]

Myanmar’s stabs at reform test public’s patience

Myanmar’s year-old government has drawn stiff pushback from its sudden cuts to a national holiday and crackdown on unlicensed buses, burning up goodwill won with the promise of change. The government said last month that the public holiday period for the Thingyan water festival marking the new year would be shortened to five days from […]

Myanmar braces for 30% drop in foreign investment

Foreign investment in Myanmar appears poised to plunge roughly 30% for the year ending March 31 amid the absence of new oil and gas projects, highlighting the need for the government to lure other industries with deregulation and firm economic policy plans. Myanmar received about $6 billion in foreign direct investment during the 11 months […]

Ministry of Mines ready for handover

The Ministry of Mines has set its affairs in order and is ready to serve under the incoming government, director general U Win Htein told The Myanmar Times. All government departments are now preparing to receive the new ministers of the National League for Democracy government that will take over on March 31. At the […]

Myanmar Lawmakers Name Htin Kyaw President, Affirming Civilian Rule

NAYPYIDAW, Myanmar — Myanmar’s Parliament elected a confidant of Daw Aung San Suu Kyi as president on Tuesday, ending decades of leadership by the military and its allies. U Htin Kyaw, 69, won with more than half the votes. He was considered almost certain to take the presidency after his nomination last week by Ms. […]

Incoming Myanmar government mulling Chinese dam rethink

Aung San Suu Kyi’s incoming government is considering a rethink of the controversial Chinese-backed multi-billion dollar Myitsone hydropower dam in northern Myanmar. YANGON: Aung San Suu Kyi’s incoming government is considering a rethink of a controversial Chinese-backed dam in Myanmar and looking for ways to end a military conglomerate’s “privileges”, according to her party’s economic advisor. […]

Aung san suu kyis party rebuts fake Myanmar president release

YANGON (AFP) – Aung San Suu Kyi’s pro-democracy party on Monday (March 7) denounced as “fake” a widely circulated letter purporting to reveal its choice of proxy Myanmar president, as speculation over who will take the role reaches fever pitch. Suu Kyi and her National League for Democracy (NLD) have kept a tight lid on […]

Clash complicates 2600MHz auction

A spectrum auction scheduled for the end of March may not come off as outlined in initial plans, as the communications ministry is still weighing commentary from the telecoms industry. At the beginning of February, the Ministry of Communications and Information Technology (MCIT) posted a consultative document about the auction of 140MHz of spectrum in […]

Myanmar admits more foreign banks ahead of NLD accession

BANGKOK — Myanmar has given preliminary operating licenses to four more foreign banks, following the government’s decision in late 2014 to grant licenses to an initial nine foreign banks. The move — just before a new administration led by Aung San Suu Kyi takes over on April 1 — highlights a rush by the incumbent […]