Yangon Contractors Face Trouble

Due to the dollar rate appreciation, bad weather, and a sluggish market, contractors are facing difficulties and troubles. In order to address the issue, an event was held at The Sky Star Hotel on July 21. The event that was drafting the Apartment Law gave the opportunity for many to express their feelings. Feelings of […]

MPs object to president reappointing current Central Bank governor

President U Win Myint has proposed reappointing 79-year-old U Kyaw Kyaw Maung as governor of the Central Bank of Myanmar (CBM) after his current term is complete by the end of this month. Parliament representatives had been expecting the job of improving Myanmar’s financial system to be given to a much younger candidate. Some have […]

Fast-track delivery of Wärtsilä gas-fired power plant will help alleviate Myanmar’s electricity shortage in Kyaukse

The technology group Wärtsilä has been selected to provide the generating equipment for a new gas-fired power plant needed to alleviate the shortage of electricity in Myanmar. The power plant will operate on eight Wärtsilä 50SG gas-fueled engines, and the electricity generated will be fed into the national grid. The 145-MW plant is being built […]

Myanmar not ready yet for auto boom

THOUGH MYANMAR has the potential for a boom in its automotive industry, it may take more than five years to enjoy tangible benefits in reality, according to Soe Tun, president of Myanmar Automobile Manufacturers and Distributors Association and managing director of Farmer Auto Trading Co. “It is not the right time for newcomers to enter […]

New retail directive well-received, but raises unanswered questions

Myanmar has taken pains to liberalise its economy and draw foreign investors to become more competitive. Over the past two years, it has rolled out major new legislation including the Condominium Law, Investment Law and Companies Law. This year, it released two new directives opening up the education and retail sectors to full foreign ownership, […]

Myanmar region woos French FDI

Myanmar’s underdeveloped Tanintharyi region bordering Kanchanaburi province plans to attract European investment mainly from French companies in the months to come, according to Phyo Win Tun, planning and finance minister of the Tanintharyi region government. “At the regional government, we frequently receive business delegations from Europe, including France, Italy, Czech as well as from other […]

After winter gas crunch, China pumps for underground storage

CHONGQING, China (Reuters) – On one of the many mountains in southwest China’s sprawling region of Chongqing, a dozen wells in an exhausted gas field are this week starting to take in fresh fuel piped in from Central Asia’s Turkmenistan, thousands of miles away. For the next six months, state energy giant PetroChina, operator of […]

Yangon suspends property project near Mya Yeik Nyo Royal Hotel

Residents are objecting to a real estate development project earmarked for construction near the Mya Yeik Nyo Royal Hotel at Pale Street, Bahan township, as it is near Kokkine reservoir, which supplies water to nine townships in Yangon. Locals are concerned about potential damage to the reservoir and water pumping station, as well as obstruction […]

New basic wage may take effect in April

The National Minimum Wage Council has sought the approval of the president for the new minimum wage of K4800 (US$3.60) per day to be enforced starting in April, a member of the committee told The Myanmar Times. “All the committee members, including the committee chair union minister, has proposed the wage to come into force […]

Japan to boost education partnership with Myanmar

Japan looks forward to more Myanmar students taking part in a student exchange program this year, said Koetsu Yamazaki, president of Kanazawa University in Kanazawa Japan. The Japanese government signed a memorandum of agreement with two Myanmar universities – the College of Science and Engineering, Department of Geology, Dagon University in 2016, and University of […]