PM Modi to Indian diaspora in Myanmar: ‘We aren’t merely reforming India, but transforming India’

Prime Minister Narendra Modi, who is on a three-day bilateral visit to Myanmar, justified decisions like demonetisation and Goods and Services Tax (GST) terming them as ‘tough’ while addressing the Indian diaspora in Yangon on Wednesday. “We never shy away from taking big and tough actions for the benefit of India because we consider the […]

UOB puts focus on Asean investment

UNITED OVERSEAS BANK (UOB), one of the largest Asian banks, is actively engaged in bringing foreign investors to Thailand, particularly the flagship investment project in the Eastern Economic Corridor, according to its chief executive. Asked which Asean countries were now the most attractive for foreign direct investment in the eyes of UOB, Choon Hin Tan, […]

Indian Railways to export 18 diesel locomotives to Myanmar

Subscribe to our tender alert mailing list The Indian Railways will export 18 modern diesel locomotives to Myanmar soon. The engines worth about Rs 200 crore are manufactured at the Diesel Locomotive Works (DLW) in Varanasi. The first lot of six locomotives are ready to be shipped next month, while the rest will be delivered […]

German giant returns to Myanmar

German engineering group ThyssenKrupp has returned to Myanmar to resume a relationship that dates back more than 85 years. It opened an office in Sule, downtown Yangon, last month to show the group’s commitment to the long-term growth of Myanmar, said Stefan Schmitt, ThyssenKrupp’s Asia-Pacific CEO, adding that the Myanmar market was part of its […]

Myanmar’s Lagging Public Infrastructure

Myanmar’s railway system is perhaps the last historical relic that anyone is lining up to save. While the moldy facades of colonial buildings are receiving makeovers with bright new coats of paint, any change that comes to this dilapidated rail system will likely be as slow as the train cars that jostle people and freight […]

India’s EXIM Bank Agrees More Than $350M in Credit to Myanmar

YANGON — The Indian government’s Export-Import Bank (EXIM Bank) has said it will loan Myanmar more than US$350 million to finance irrigation projects and improvements to the country’s railways. In an announcement Dec. 26, the bank, which opened an office in Yangon in September, said it would extend credit to the Myanmar Foreign Trade Bank […]

Conservation projects in Yangon face long road ahead

Several high-profile renovation projects for Yangon’s most iconic heritage structures tendered by the state one year ago have yet to begin as the government is slow to rubberstamp master plans, while some development firms have yet to submit them, officials said. In November last year, the Myanmar Investment Commission chose four firms to separately convert […]