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Yangon’s ‘new city’ to begin land compensation process

The Yangon regional government has started providing substitute land to original landowners as compensation for land acquired for the New Yangon City Project on October 8. According to the previous agreement, landowners will retain 80 percent of the original land located within the project area with the remaining 20pc being compensated in Kyeemyindaing township. Phase […]

Myanmar initiates low-cost housing for squatters in Yangon

Myanmar’s Yangon regional government has initiated a project of developing apartments on state-owned land to tackle the issue of squatters and the project will be implemented in September, according to the office of the regional government on Wednesday. “The regional government will offer a long term installment payment plan to squatters to help them purchase […]

Life Restored to a Heritage Landmark in Yangon

YANGON—The Tourist Burma Building—built in 1905—has been renovated by heritage and craft non-profit organization Turquoise Mountain in conjunction with the Yangon regional government and is set to open its doors to the public in mid-July. Standing on a prominent corner of downtown Yangon next to Sule Pagoda and overlooking Mahabandoola Park, the three-story structure has […]

Future Yangon as a town encircled by industrial zones: Chief Minister

The regional government is planning to build Yangon as a town circled by industrial zones and in the future, a big circular shaped city emerge, said Yangon Region Chief Minister Phyo Min Thein in a ceremony to open Hmawby-Taikkyi road, a portion of Yangon-Pyay Road held on February 10. The opening ceremony was attended by […]

Jade sales fetch nearly $300 million

Myanmar earned over US$290 million (389.8 billion kyat) from jade exports up to the first week of this month in 2017-2018 fiscal year. Sales were down by over $210 million compared to the same period of last FY, according to the Ministry of Commerce. Last year’s sales for the period were $404, compared to $291 […]

Locals Object to Mandalay Hill Cable Car Installation

MANDALAY — A proposal to build a cable car at Mandalay Hill, a landmark in the cultural center of Mandalay, has been widely criticized by locals. The initial proposal, recently submitted by the Korean company Sky Dream Co. Ltd., to the regional government, was explained to local environmentalists, lawmakers and Mandalay Hill trustee committee members […]

Drug safety policy by year end

The move comes at a time when the department of Food and Drug Administration (FDA) is battling with sub-quality drugs, unregistered, fake and expired medicines sold in local pharmacies – largely procured from neighbouring countries. The number of deaths related to fake drugs and patients who have no resistance to substandard and fake drugs is […]

Trade on the rise, more FDI needed: U Ye Min Aung UMFCCI VP

U Ye Min Aung, vice president of the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry, told the Global New Light of Myanmar his views on Myanmar’s economy in an exclusive interview. Q: Please tell us about the current economic situation in Myanmar? A: At the present period, global economy […]

Applications for public rental housing to open in February

The Yangon Region government will start accepting applications in February for public rental housing for people who cannot afford to buy homes, according to Kyaw Soe, the regional minister for forestry and energy. At the special session of the Yangon Region parliament yesterday, the regional minister replied to a question raised by Dr Nyo Nyo […]

Six foreign companies receive approval for manufacturing and wood factories

Myanmar Investment Commission (MIC) has approved six foreign businesses, including the companies from China, India and Singapore, on December 4, to start their operation in the country. The approved businesses consist of two garment factories, one shoe factory, one sporting accessories manufacturing company and two wood factories. Chinese firm Kamcaine Manufacturing Ltd obtained approval to […]