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 […]

Jade entrepreneurs to request Union government to halt jade mining and export

Jade entrepreneurs have united to submit a signed proposal to the Union Government to suspend jade mining and jade exports with the aim of creating a domestic jade market and promoting the market, said U Than Win from Pwint Kaung jade trading. Over 20,000 jade businessmen from Mandalay, Sagiang and Pharkant signed the proposal and […]

Botahtaung jetty project terminated over environmental impact

THE construction of a multi-purpose jetty on Botahtaung Pagoda road in Yangon will be terminated due to its negative impacts on the environment, Transportation and Communications Union Minister U Thant Sin Maung said yesterday at the Pyithu Hluttaw. The parliament was unanimous in accepting the proposal calling for an end to the project, with representatives […]

Parliament backs Parkway Hospital suspension

THE Pyithu Hluttaw approved a proposal to suspend the lease of a 4.3-acre plot owned by the Ministry of Health near Yangon General Hospital, which was originally slated to house a private Parkway Hospital, at a parliamentary session yesterday. Lawmakers called for the suspension of the lease of land for the private hospital during their […]

Who’s who: Myanmar’s new cabinet

Take a look inside the National League for Democracy’s new proposed government with insider profiles of the party’s 18 candidates for ministerial posts: Daw Aung San Suu Kyi (foreign affairs; president’s office; education; energy and electric power) The National League for Democracy leader needs little introduction. Has vowed to rule “above the president”, and with […]

Local mining applications delayed by new gemstones law

New concessions to explore gem-rich areas in upper Myanmar will not be granted until by-laws to the Myanmar Gemstones Law have been passed, which is unlikely to happen under the outgoing government, officials from the Ministry of Mines said. The ministry asked local companies to submit applications to explore mining blocks in Kachin State, Shan […]

Zaykabar chair: Suu Kyi is ‘like a sister’

Real estate tycoon U Khin Shwe discusses his close friendship with Daw Aung San Suu Kyi, land confiscations associated with his company Zaykabar and his reputation as a crony of the former military regime, in an interview with The Myanmar Times. I understand that you have a close relationship with Daw Aung San Suu Kyi. […]