AboitizPower eyeing hydropower project in Myanmar

(AboitizPower) is looking at exploring and developing a potential hydropower project in Myanmar, its president said on Wednesday. “We are still looking at hydro potential in Indonesia and we’re looking at Myanmar, too,” Antonio Moraza said, adding “our people” recently visited Myanmar. “We’re looking at starting at permits,” he said when asked how advanced the […]

JICA loans worth Ks358bn approved

Loans from the Japan International Cooperation Agency, totalling 31.051billion yen (Ks358.39bn) were approved during the 6th Day Meeting of the 2nd Pyidaungsu Hluttaw, 3rd Regular Session to fund the economically vital Thanlyin Bridge project that will span the Bago River, the finance ministry said. “Thanlyin Bridge No. 3 is the main one linking to the […]

US and Myanmar agree to game-changing initiatives

In addition to the lifting of US sanctions on Myanmar that came as a result of a historic meeting at The White House yesterday between US President Barack Obama and State Counsellor Daw Aung San Suu Kyi, there will be several other initiatives that were agreed upon in Washington, including global health security and improved […]

Overseas Private Investment Corporation to Disburse $250 Million Investment in Telecom Tower Infrastructure Project

NEW YORK & SAN FRANCISCO & WASHINGTON & YANGON, Myanmar–(BUSINESS WIRE)–The Overseas Private Investment Corporation (OPIC), the U.S. government’s development finance institution, today announced that it has commenced the initial disbursement of a $250 million loan to Apollo Towers Myanmar Limited, based in Yangon. The disbursement marks OPIC’s first financing in the country as well […]

NLD to look West, but not ignore its tough neighbours

  Revered in the West almost as much as at home, Daw Aung San Suu Kyi may steer Myanmar’s foregin policy to a westward pivot to some degree, although the Nobel Peace Prize winner has already shown she understands the realities of dealing with powerful Asian neighbours. The importance of relations with Beijing was emphasized […]

Myanmar’s clothing industry is set for significant growth in the coming years

Myanmar’s clothing industry is forecast to grow significantly in the coming years, according to a report in the latest issue of Global Apparel Markets from the business information company Textiles Intelligence. Forecasters have predicted that there could be up to 1.5 million jobs in the garment industry by 2020 compared with approximately 230,000 in mid-2015, […]

Myanmar army MPs slam bill granting Suu Kyi special advisory role

Myanmar military MPs on Friday said a plan to bolster Aung San Suu Kyi’s power with a special advisory role was unconstitutional, as the new civilian government tussled with the army just days after taking office. The Southeast Asian nation was dominated by the military for more than half a century until Wednesday when Suu […]

New Chief Minister of Rangoon Looks to Improve Infrastructure

RANGOON — Rangoon’s new chief minister said Monday he will focus on using local and foreign investment to ramp up the development of infrastructure in Burma’s commercial capital. A lawmaker for Hlegu Township, Phyo Min Thein was appointed Chief Minister of Rangoon by the National League for Democracy (NLD) during a divisional parliament session on Monday. […]

MIRAIT Technologies Establishes a Subsidiary Company in Myanmar

TOKYO- MIRAIT Technologies Corporation (Head office: Nishi-Ku, Osaka, President: Kouichi Takahatake) announced today the establishment of its local subsidiary with 100% stake in Myanmar. Purpose of the new company MIRAIT Technologies Corporation as a comprehensive engineering company is expanding its business in APAC region with “Triple-Win Strategy.” Mamoru Tanaka, Senior Corporate Officer and Head of […]

Parliament passes condominium law

Mired in legislative gridlock until the dying days of the outgoing government, the condominium law finally squeaked through parliament on January 22 after years of back-and-forth argument between the upper and lower houses. The president still has to approve the law, but in principle foreigners will now have the right to buy up to 40 […]