Location for New Muse Airport to be Confirmed Before Fiscal Year-End

The Department of Civil Aviation (DCA) is hoping to confirm the location for a new airport in Muse before the end of this fiscal year, Deputy Director General U Ye Htut Aung told The Myanmar Times on November 6. Muse is Myanmar’s largest border trading post and where most of the country’s border trade with China takes […]

Government settles gold debts by private miners

The outstanding gold debt owed by private gold mining firms to the government as at September 30, 2017 is 14,121.32 ticals, U Ohn Win, Union Minister for National Resources and Environmental Conservation reported at the Pyithu Hluttaw held on October 19. In Myanmar, 1 tical is equivalent to 16.34 grams. Those debts are to be […]

Nursery education plan reaches Pyithu Hluttaw for debate

A proposal urging the government to set strategic plans for nursery education and investment in early child care and development service has been submitted to Pyithu Hluttaw, which will discuss on the issue. U Sai Oo Kham, Pyithu Hluttaw MP for Theinni constituency submitted the proposal on October 17. MPs agreed to bring the matter […]

Draft Companies Law designed to remove obstacles for foreign investment

A new Myanmar Companies Law currently being drafted by legislators will remove cumbersome restrictions and make foreign investment easier, said Dr Myat Nyana Soe, the secretary of Amyotha Hluttaw Bill Committee. “The draft law was approved by Amyotha Hluttaw and the amendments made by Aymotha Hluttaw and Bill Committee are already submitted to Pyithu Hluttaw. […]

Traders seek to recoup losses on K5 billion in seized rice

About 50 rice traders from Mandalay Region and Katha, Banmauk, Htigyaing and Kawlin townships in Sagaing Region said their partner’s detention for the past two months has hurt their business. Their meeting at the Banmauk rice traders association office on Wednesday was attended by National League for Democracy MPs from Banmauk. U Aung Thein, who […]

CBM Restrictions on Foreign Banks to be lifted ‘Soon’- Deputy Governor

The governor of the the Central Bank of Myanmar (CBM) has said restrictions that stop foreign banks offer­ing retail services in My­anmar will be lifted ‘soon’. Deputy Governor U Set Aung told a July 10 Pyithu Hluttaw meeting that it’s time foreign banks were allowed to open branches across the nation and pro­vide their retail […]

Myanmar Companies Act sent to parliament

The Myanmar Companies Act – a pivotal piece of legislation that will reform how companies are regulated and allow foreign investors onto the Yangon Stock Exchange – was submitted to the Pyithu Hluttaw at the start this month, according to Directorate of Investment and Company Administration Director General U Aung Naing Oo. The new act […]

Tea Touted as Solution to Budgetary Woes

​​ As the government has found itself without enough cash to complete development projects scheduled in the current fiscal year, one cabinet member has aired an unusual proposal for financing the shortfall: tea money. Speaking in parliament yesterday, the minister for agriculture, livestock and irrigation said that if the public truly wants all its roads […]

MDY Urban & Housing Development to sell 500 affordable

Mandalay Department of Urban and Housing Development Director-General U Aung Kyaw Lin announced that they will sell over 500 affordable, color-codedapartments within the Mya Yee Nanda housing complex starting on 10 November in Chanmyathazi Township, Mandalay. “The affordable apartments fall into four categories. The green colour is for government servants, blue for retired government civil […]

Government will not open forests to logging companies: MTE

Myanmar Timber Enterprise will carry out logging by itself and will not allow private companies to fell and take trees from Myanmar forests, Union Minister U Ohn Win told the Pyithu Hluttaw yesterday. Works are underway to halt the extraction of teak and other hardwood and reduce the annual allowable cut (AAC), said the Union […]