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Yangon-Dalla Bridge project to start soon

The stake-driving ceremony of Yangon-Dalla Bridge will be held in December 23, and the construction of the bridge will start in January next year, according to the press conference by the Construction Ministry in Dalla Township in Yangon on November 24. Kyaw Kaung Cho, deputy director general of Bridge Department at the Construction Ministry said: […]

Myanmar likely to open more sectors to FDI

A SURGE in interest among global players following the liberalisation of Myanmar’s education sector to foreign investors has motivated the authorities to continue opening up the economy in other restricted sectors. Thant Sin Lwin, deputy director general at the Directorate of Investment and Company Administration (DICA), said at a press conference on Tuesday that Myanmar […]

Myanmar hires China Communications to survey bold new city

Myanmar’s plans to build a city twice the size of Singapore took a step forward this week with the signing of a framework agreement with China Communications Construction Company (CCCC) to conduct preconstruction surveys as a prelude to the $1.5bn first phase of the scheme. It may not be CCCC, a huge state-owned company, who […]

Mastercard to keep high growth rate in Myanmar

Ravinder Aurora, executive director for global public policy and community relations at Mastercard, said at a press conference yesterday that the company enjoyed double digit growth in terms of the number of card users and transaction value by using the cards every year. “Currently, I believe there are roughly about 2 million cards within the […]

Foreign banks will receive permission to operate soon, says vice chair of Myanmar’s Central Bank

U Sett Aung, the vice chairman of the Central Bank of Myanmar told a press conference held in Yangon on September 14 that foreign banks would be given permission to operate Myanmar at some point in late September or early October. Speaking at a press conference for the Myanmar Investment Meeting, held by Peninsula Press, […]

Government to reduce restrictions on business sector by March

The government is planning to reduce restrictions on the business sector in March this year, Tin Maung Than, director of the Myanmar Development Research Institute/Centre for Economic and Social Development (MDRI/CESD) told a press conference on sub-national governments and business in Myanmar held at IBC yesterday. Investors who want to do business in Myanmar have […]

Public Shares in Thilawa SEZ to Go on Sale Next Month

YANGON — Myanmar Thilawa SEZ Holdings Public Ltd announced it will issue shares for sale next month in order to raise about US $21 million to fund the first phase of the Burmese-Japanese Thilawa Special Economic Zone (SEZ) near Yangon. Set Aung, a government official who chairs the Thilawa SEZ Management Committee, and Win Aung, […]

Thai firm Double A wins tender for new paper plant in Myanmar

Subscribe to our tender alert mailing list Double A, a Thai firm, announced yesterday that it has won a 30-year contract for an advanced paper plant in Thabaung, which is under the Ministry of Industry, for US$ 80.5 million (Ks 78.32 billion). The ministry had invited tenders from interested local and foreign firms, starting from […]

Fear of Pagoda Damage Draws Protests at Letpadaung Mine

Yangon — At least 150 rights activists and local residents are urging authorities in northwest Burma to allow them to visit a historic Buddhist pagoda that was allegedly damaged by a blast at the Letpadaung copper mine project last week. Amid rumors that the pagoda was damaged in a blast last Thursday, protests have been […]