Insurance in Myanmar: Spreading the Risk

Even though insurance has been around for over one hundred and fifty years in Myanmar, it has all the makings of a new phenomenon.  Before independence in 1948, there were between eighty to one hundred firms operating.  As a republic with a short stint of democracy at its birth and subsequent decades of military rule, […]

Health Insurance Companies Struggle to Find Customers

The experimental health insurance system introduced last year has seen a mediocre 2,092 subscribers until now, indicating a huge lack of public awareness. The system started in July 2015 for a trial period of one year in order to support the public when they have health issues. State-run Myanmar Insurance Enterprise (MIE) and 11 local […]

Avoid Gambles: Yangon Chief Minister

​​ According to Yangon Region Chief Minister Phyo Min Thein, businesses should avoid high-risk investments as more major projects develop. At a meeting between Vice President Myint Swe and the Federation of Chambers of Commerce and Industry (UMFCCI), Phyo Min Thei claimed that a deep water port project, a special economic zone and a new city development plan would soon be unveiled. He cautioned against businesses building […]

Myanmar Offshore Supply Base Debacle or Miracle in Waiting?

In a recent briefing regarding the development of an offshore supply base conducted by Asia Pacific Connex, there was much enthusiastic debate around the provision of this key infrastructure. Particular emphasis was placed on the need to improve local content in the Myanmar offshore gas developments and to create a framework to harness offshore development […]

Land prices in Kyaukphyu SEZ jump 50 per cent amid competitive buying

LAND within the demarcated area of the yet-to-be-built Kyaukphyu Special Economic Zone (SEZ), located in Myanmar’s western Rakhine State, went on sale in January of this year to competitive purchasing, which has brought the value of land up by nearly 50 per cent in the last four months, according to real estate agents. “News spread […]

Gas turbine in Thilawa SEZ to distribute power starting in May

THE construction of a natural gas turbine in the Thilawa Special Economic Zone (SEZ) is over 89 per cent complete. The gas turbine is expected to distribute power starting in May. “A power supply of 20 megawatts was received from the government. A 50-megawatt gas plant has been built with the assistance of a JICA […]

Toyo Construction, JFE to build port in Myanmar

TOKYO — Toyo Construction and JFE Engineering have received an order from the Myanmar government to build port facilities in a special economic zone near Yangon. The order, valued at about 14 billion yen ($117 million), was awarded to the Japanese companies via competitive bidding. The project will be funded by Japan’s official development assistance […]

Chinese-led group to build Indian Ocean port, industrial park

Myanmar has chosen a consortium of mostly Chinese companies to develop a special economic zone sitting near plentiful offshore natural gas reserves. The Kyaukphyu zone, in the western state of Rakhine, already has an oil and gas pipeline connecting it to China, whose influence over southern neighbor Myanmar could grow as a result of the […]

Finally? Kyaukphyu SEZ Tender Due Next Week, Official Claims

RANGOON — Successful bidders for development of the Kyaukphyu Special Economic Zone (SEZ) will finally be announced next week, an official has claimed, after an opaque and long-winded tender process beset by delays. After bidding for the project, slated to include an industrial zone, a housing estate and two deep sea ports on Ramree and […]

Kyaukphyu SEZ tenders continue despite protests

The final tender results for the Kyaukphyu special economic zone (SEZ) project will be announced this month, despite calls from civil society groups for the project to be postponed, a member of the tender selection committee told The Myanmar Times. The tender selection committee expects to the ground-leveling process to start in February, so that […]