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Myanmar invites foreign investment with business-friendly reforms

As Seoul fleshes out its New Southern Policy to strengthen ties with Southeast Asian nations and other countries, Myanmar presents fresh opportunities with its business-friendly policies, according to the country’s top envoy to South Korea. During the Burmese National Day reception on Jan. 7 in Seoul, Myanmar’s Ambassador Thura Thet Oo Maung said the Korean […]

Govt counting on Asian travellers to boost tourism

Myanmar’s tourism sector has borne the brunt of the Rakhine refugee crisis, with growth in tourist arrivals dropping to 1 percent in 2018 compared with 7.1pc in 2017, according to the World Bank. The number of western tourist arrivals fell the most, more than offsetting arrivals from Asia. The numbers reflect reports of booking and […]

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, S.Korean company launch solar power plant in Rakhine state

A stake driving ceremony has been held in Manaung township, Myanmar’s Rakhine stake to build a solar power plant which can supply 24-hour electricity to more than 1,000 households, Myanmar News Agency reported Sunday. The first-phase project was launched on Saturday by the Ministry of Electricity and Energy, Rakhine state government and the POSCO Daewoo […]

Construction sites struggle as skilled workers head overseas

Daw Hay Mar, a trader, can only shake her head when talking about the high expenses she incurred in constructing a storage building and workers quarters because of poor workmanship. She said her nightmare started when she hired a group of construction workers in her neighbourhood for the job. Daw Hay Mar said the building […]

Myanmar targets FDI from East Asia in long-term investment plan

Myanmar is gunning for more foreign direct investments (FDI) from East Asia in the next 20 years under its new Myanmar Investment Promotion Plan (MIPP), U Than Aung Kyaw, deputy director general of the Directorate of Investment and Company Administration (DICA) told The Myanmar Times at a book launch in Yangon on Thursday. Besides strengthening […]

A brewing brouhaha over buses in Yangon?

The Yangon Regional Government has offered the Myanmar Licensed Contractors Association (MLCA) the right to buy 200 school buses and operate a business transporting schoolchildren, U Kyaw Win, chair of the association, said on October 7. If accepted, the move will involve establishing a separate entity to run the operation under a public-private-partnership (PPP). It […]

Myanmar, Japan-involved consortium to build high structure in Yangon

YANGON, Oct. 7 (Xinhua) — Myanmar Pharmaceutical Industrial Enterprise (MPIE) and a consortium of two local Myanmar companies and a Japanese company on Saturday signed an agreement to build a high-rise structure on the land owned by MPIE in Tamway, Yangon, the official Global New Light of Myanmar reported Sunday. The consortium, named NSKRE Residence […]

Myanmar to hold investment fairs to spur development

Myanmar is making preparations to hold a business forum in Mandalay, the country’s second largest city in the north, on Nov. 9, aiming to promote trade and investment for the development of Mandalay region, according to the Directorate of Investment and Company Administration (DICA) Monday. Such a forum is partly aimed at driving development more […]

Investments declined in 2017-18: MIC

Despite an increase in the volume of projects, total investment in value terms fell by around US$900 million in 2017-18 compared to 2016-17, U Thaung Tun, chair of the Myanmar Investment Commission (MIC), said in Parliament last week. In the 2017-18 fiscal year, Myanmar received $5.7 billion for 222 projects. Around $1 billion of the […]