fbpx

Cabinet to Adopt Development Guideline for Dawei SEZ Link

The National Economic and Social Development Council (NESDC) will ask the cabinet to adopt its guidelines on infrastructure development on Tuesday, as the government seeks to start working on the long-awaited link that will connect the Dawei Special Economic Zone in Myanmar with Eastern Economic Corridor (EEC). A source said the NESDC wants ministers concerned […]

New Chinese Ambassador Vows to Seek ‘Practical Cooperation’ with Myanmar on BRI Projects

China’s new ambassador to Myanmar said he would push for deeper “practical cooperation” on Beijing’s grand infrastructure projects in the country while working to advance bilateral relations. One day after President U Win Myint accepted the credentials of Ambassador Chen Hai in Naypyitaw, the Chinese Embassy issued a statement on Wednesday regarding their discussion in […]

Amid Int’l Espionage Concerns, Mandalay to Embrace Huawei for ‘Safe City’ Project

As part of its high-tech makeover to become a “smart city” with a view to enhancing the rule of law and security, Myanmar’s second largest city Mandalay is ready to embrace Huawei, prompting questions about whether upper Myanmar’s business hub will become prone to data theft and state-sponsored spying—both of which the Chinese telecom giant […]

Allowing foreign insurance companies into local market

People save part of their income to deal with the inevitable consequences of old age, sickness and death for themselves as well as for their near and dear one. However mishaps like sickness and deaths occurs not only when a person gets old. It can happen anytime anywhere. Due to illnesses, accidents, carelessness of self […]

Initial technical report on Muse-Mandalay railway project submitted

A technical report that is a part of a feasibility study being conducted on the Muse-Mandalay railway as part of the China-Myanmar Economic Corridor has been submitted to the government, according to Myanma Railways and the Ministry of Transport and Communications. China Railway Eryuan Engineering Co (CREEC) submitted the report, which is based on a […]

Gov’t Spells Out Conditions for Signing BRI Deals with China

A senior Myanmar official revealed that the government has drawn up a set of conditions for signing memorandums of understanding (MOUs) related to Beijing’s grand infrastructure projects in the country in order to avoid falling into a “debt trap” with China and to ensure the projects benefit both countries. The conditions include acquiring international financing […]

Toyota to build first Myanmar assembly plant in Thilawa

Japan’s Toyota Group will start building an assembly plant in Thilawa Special Economic Zone (SEZ) this year, according to a Myanmar Times source. Toyota Motor Corp, the automobile branch of Toyota, will invest several billion yen for the facility to manufacture pick-up trucks through semi-knockdown (SKD) production for the Myanmar market. An official announcement will […]

Singapore to invest in jetty and warehouse project

Singapore will invest 290.124 million US dollars in the construction of jetty and container warehouse under a BOT (Build-Operate-Transfer) system, according to Myanmar Investment Commission (MIC). The MIC gave the green-light to them, at its meeting on April 26. The project can create 1,176 new jobs for citizens. At the meeting on April 5, the […]

FDI needed for undeveloped regions but no plans for tax incentives

Although more foreign direct investments (FDI) are needed for the undeveloped Regions and States, there are no plans to revise current tax relief scheme as yet, said U Thant Sin Maung, acting director general of the Directorate of Investment and Company Administration (DICA). U Thant Sin Maung was responding to requests for tax incentives from […]

Four local life insurance providers form JVs with foreigners

Four domestic life insurers will cooperate with their foreign counterparts to form joint ventures in Myanmar, according to the Myanmar Insurance Association (MIA). Citizen Business Insurance (CB Insurance), First National Insurance, Grand Guardian Insurance and Capital Life Insurance will form joint ventures with foreign insurers, said U Thaung Han, managing director of CB Insurance and […]