Making Myanmar an energy powerhouse

Myanmar’s national electrification process is still on hold one year after the new administration took office. The replacement of the Minister of Energy in early August showed the priority given to energy, but the government still has much to do. Myanmar will have to decide on how to solve its chronic power shortage. There are […]

Gold Traders Mull Over Plans to Set up Gold Exchange

The gold industry and the government agreed, in principle, to establish a gold exchange under then-president U Thein Sein’s tenure. Over the last year, the National League for Democracy-led government and industry associations have been seeking to set up an exchange market where gold and metal could be freely traded in one place. In the […]

New mega-complex project approved near Yangon’s Shwedagon Pagoda

A Japan-led consortium has officially obtained permission to build a large-scale mixed-development project at the intersection of Shwedagon Pagoda Road and U Wisara Road in Yangon. Development of the US$332.5 million project will begin this year on the former site of the military museum across 16,000 sq m of land. It will comprise a high-grade […]

Adviser: Actually, the Government Has Made Significant Strides on the Economy

Government economic adviser Sean Turnell has hit back against a barrage of recent criticism over the performance of the National League for Democracy (NLD)-led administration during its first year of office. The government’s achievements on the economy were “considerable” and “too often overlooked” the adviser said. Daw Aung San Suu Kyi’s government has been bruised […]

Business community pins sanction hopes on State Counsellor’s visit to US

With State Counsellor Daw Aung San Suu Kyi set to meet US President Barack Obama in Washington today, many in Myanmar’s business community will be watching closely. The two are set to discuss US sanctions that have been in place for decades, and that investors are rearing to have removed. Businesses have long called for lifting sanctions they say cripple […]

Employment rises throughout U Thein Sein administration

The five-year term in office of President U Thein Sein saw an increase in foreign investment into Myanmar, with a 67.85 per cent increase in employment opportunities, according to a statement released by the Myanmar Investment Commission on 30 March. During the 2011-12 fiscal year, there was an increase of 6,804 employees working for foreign […]

Guest registration changes tipped to win NLD ‘goodwill’

“Midnight inspections” – raids on the homes of suspected dissidents and opponents of the former regime – could be a thing of the past. But observers have warned that the proposal by the National League for Democracy to scrap this practice would leave many other repressive laws in place. On March 21, the NLD proposed abolishing the […]

Shop owners quarrel over Mingalar market future

Construction of a temporary replacement for Mingalar Market, which was destroyed by a fire on January 9, may be delayed due to disagreement on whether to reconstruct the market or build a new one, shop owners say. Owners of spaces in the Yangon market disagree about its future, with a division mainly between those whose […]

Government backtracks on vehicle import policies

Bowing under pressure from dealers and sellers, the government has relaxed its new vehicle import policies for the coming year. The changes will come as a relief to importers, who had deemed policies announced in mid-December too strict, and had asked President U Thein Sein to consider an amendment. The unpopular regulations announced in December […]

China’s CITIC awarded tender for the Kyaukphyu SEZ

Subscribe to our tender alert mailing list CITIC Consortium I & II won the tenders for the development of the Kyaukphy Special Economic Zone according to the announcement of the Kyaukphyu SEZ Bid Evaluation and Awarding Committee yesterday. The statement of the committee said CITIC Consortium-I won the tender for the development of the deep-sea […]