Parkland projects suspended pending plan

Yangon Mayor U Maung Maung Soe told the regional parliament yesterday that the YCDC was drafting a master plan and they would only allow projects to be carried out after it is drafted. “Some companies have requested us to draft the master plan as soon as possible. The buildings must be located 30 feet away […]

YCDC to Take Action Against Wayward Street Vendors

The Yangon City Development Committee (YCDC) is taking action against street vendors who ply their trade in prohibited areas or streets and is mapping out a plan to ensure that trade will be carried out in a systematic manner. The announcement was made by regional Planning and Financing Minister U Myint Thaung at the Yangon Region Parliament session Since […]

Time to Fix the Economy With Action, Not Words

Economists and business owners, while acknowledging and applauding the measures put into achieving peace and stability, say the National League for Democracy-led government has largely ignored the economy during its first year in power. Some experts and entrepreneurs told The Myanmar Times that the government needs to focus on ways and means of stimulating economic growth and […]

Avoid Loss of Foreign Investments: Report

The Yangon Region Finance, Planning and Economic Committee has sent its yearly report to the regional parliament, urging for action to be taken in order to avoid the loss of foreign investments. Committee chair Daw Sandar Min said the regional government must put emphasis on issues that could affect investments and the economy. Among the […]

Myanmar Banks ‘Facing Five Key Challenges’

YANGON – MYANMAR’S HOPE of becoming an investment destination in Asean may fade away if the country fails to address five major challenges in its financial sector, experts said at the launch of a GIZ banking report titled “Myanmar’s Financial Sector: A Challenging Environment for Banks” last week. During a PowerPoint presentation and a panel […]

UK Government to Strengthen Gas Sector in Myanmar

A UK Government-supported programme, to strengthen the development of a modern, dynamic oil and gas sector in Myanmar, is to be launched later this month, according to a joint press release from the British Embassy in Yangon and Aberdeen International Associates (AIA). Mr Gordon McIntosh, Aberdeen City Council’s former Director of Enterprise, Planning and Infrastructure, […]

Rangoon Govt Rep Clarifies Development Priorities

RANGOON – The head of Rangoon Parliament’s Finance, Planning and Economic Affairs Committee told the press on Thursday of the divisional government’s priorities for the development of the commercial capital throughout the rest of the year. Daw Sandar Min said that Rangoon Chief Minister U Phyo Min Thein informed committee members of 24 planned projects […]

Insurance market will be open to foreign firms in 2017: ministry

The government is planning to open Myanmar’s struggling insurance industry to foreign firms early next year and free local players from an array of restrictions – part of a coordinated push to speed up liberalisation in a sector crucial to economic development, a senior government official told The Myanmar Times. “We’re going to speed up liberalisation, […]

Yangon authorities appear to backtrack over high-rise review

Yangon city authorities appear to have come down on the side of angry developers in the row over the suspension of 222 projects either under construction or at the planning stage. Following a city-wide review of project designs, the suspension was ordered because the buildings reportedly violated draft zoning regulations. However, the draft in question has yet […]

Yangon high-rise review divides officials

  The chair of Yangon Region parliament’s economic committee has spoken out in support of developers, after they were ordered by a separate committee to change their project designs as part of a city-wide review of high-rises under construction. Daw Sandar Min, who heads the regional Finance, Planning and Economic Committee, said developers had suffered “enormous […]