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Yangon Parliament Urges Regional Govt to Seek Legislature’s Approval for Projects

YANGON—A regional parliament committee that scrutinizes government projects has suggested the Yangon government administration seek the parliament’s approval for 12 projects—worth at least US$10 billion (15.3 trillion kyats)—that the Yangon government aims to build in fiscal 2019-20. The Yangon government submitted a regional planning bill to the parliament last week that includes 149 projects slated […]

LexisNexis to Help Develop Property Data System for Myanmar’s Commercial Capital

YANGON—The Yangon regional government on Wednesday signed a memorandum of understanding (MOU) with LexisNexis Southeast Asia, a provider of information analytics, to help set up a reliable housing and real estate information system (HREIS) for Myanmar’s commercial capital. According to the regional government, LexisNexis will carry out the initial analysis for the HREIS, the first […]

Dialogue on Pakbaeng Hydropower Project Begins

CHIANG RAI PROVINCE, Thailand (Vientiane Times/ANN) – The first dialogue meeting of the Pakbaeng Hydropower Project on the Mekong River yesterday took place to further react with the recommendations raised by the Mekong River Commission in regards to the PNPCA process of the project. Officials from the Thailand National Mekong Committee Secretariat (TNMCS) and Lao […]

Finance Minister Admits Economy is Underperforming

NAYPYITAW — Planning and Finance Minister U Kyaw Win has admitted that Myanmar’s economy has not improved as well as expected, six months after he compared the country’s economy to a jet plane about to take off. “There are suggestions that the country’s economy has not picked up as we expected. Considering the current situation, we […]

Myanmar Shuffles Energy, Finance Officials Amid Slowing Growth

Myanmar has replaced its minister for energy, state media reported on Wednesday, as Aung San Suu Kyi’s administration looks to address concerns that the enactment of vital reforms has been slow since she took power last year.The government also appointed a new deputy finance minister and confirmed three new central bank deputy governors this week. […]

AMCHAM Myanmar Encourages U.S. Banks to Enter Myanmar Market

The American Chamber of Commerce in Myanmar (AMCHAM Myanmar) recently led a financial services business delegation to Yangon and Nay Pyi Taw consisting of 13 companies to meet with government representatives and local banks from July 24-26. The goal of the mission was to help U.S. financial institutions, including banks and insurance companies, get a […]

Yangon New City Project makes few adjustments

The Yangon New City Project will be carried out with collaboration from the World Bank, International Monetary Fund (IMF), International Finance Corporation (IFC) and foreign loans, said Yangon Region Minister for Electricity, Industry, Road and Communication Daw Nilar Kyaw at the 2nd Yangon Region Hluttaw meeting held on 10 July. The new city will be […]

Myanmar Aims to Boost Gold and Jewellery Exports

MYANMAR plans to step up the promotion of jewellery and product in a bid to boost exports, Planning and Finance Kyaw Win said. The Gold Traders’ Association says traders in the gold market need to rely on mutual trust as the market is not supported by a proper banking and insurance system, resulting in unstable […]

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 […]