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Yangon Region Gov’t, HK-Taiwan Consortium Ink Industrial Zone Deal

YANGON—The Yangon regional government will sign a Memorandum of Understanding (MoU) with a consortium of Hong Kong and Taiwan companies next month to develop an international-standard industrial zone in Htantabin Township in the west of the commercial capital. Worth an estimated US$500 million (761.2 billion kyats) the Htantabin Industrial Zone will be implemented on more […]

Good growth potential for gum crop

The Japanese and Chinese governments have signed agreements to buy gum sterculia from Myanmar. The agreements were signed in Myaing township, Magway Region, on March 9. Gum sterculia, also known as gum karaya or Indian gum tragacanth, is a vegetable gum produced by trees of the genus Sterculia. The gum is used as a thickener […]

Upscale housing project takes shape near Mandalay

A housing project to be built in Yay Tagon Taung in Mandalay Region’s Patheingyi township is expected to create tens of thousands of jobs, said the company behind the project. The project site is on 202 hectares of land on a golf course owned by the Mandalay City Development Committee about six kilometres east of […]

Taiwan’s aluminium maker launches $13m Thilawa plant

Taiwan’s top aluminium maker has launched its first manufacturing plant in Myanmar. Abba Aluminium Co, headquartered in Taoyuan, held the opening ceremony for its factory in Thilawa Special Economic Zone (SEZ) on December 24. Initial investment amounted to US$13 million and 300-500 local employees will be hired, according to Abba’s chair Chen Pai-chin. The estimated […]

Investment Agency Says Business Donations to Government Officials Violate Graft Code

YANGON — The Directorate of Investment and Company Administration (DICA) announced on Friday that companies and body corporates are not allowed to donate money either directly or indirectly to ministries or regional government departments, citing the Myanmar Companies Law 2017, to prevent corruption between government bodies and private companies. U Aung Naing Oo, director general […]

Textiles a key focus of trade push between Myanmar and Taiwan

SEEKING to build on the rapid growth in trade between Taiwan and Myanmar, industry bodies from the two sides have signed two memorandums of understanding at a Taiwan-Myanmar Industrial Collaboration Summit. Myo Thet, vice president of the Union of Myanmar Federation of Commerce and Industry (UMFCCI), said the agreements would help boost bilateral economic ties, […]

Telenor gears up to offer a Myanmar record for data speeds

AS MOBILE data consumption in Myanmar soars to some of the highest levels in the world, Telenor Myanmar plans to offer its subscribers a record speed for the country of 1 gigabyte per second (Gbps) in the near future, said Lars Erik Tellmann, the firm’s chief executive officer. Tellmann said at a press briefing on […]

Dept warns migrant workers about fraudulent job agencies

The Department of Labour Migration has warned workers seeking overseas job to be wary of fraudulent employment agencies that operate without licenses. In an announcement on Tuesday, the department, which is under the Ministry of Labour, Immigration and Population, urged workers to check with the authorities about the authenticity of such agencies. The warning comes […]

70% of foreign investment comes through Yangon

About 70 per cent of overall foreign investment flowing into Myanmar comes through Yangon region, said Deputy Director Than Aung Kyaw from the Directorate of Investment and Companies Administration (DICA). Investment committees from regions and states are allowed investments worth US$5 million and 6 billion kyat. Yangon region investment committee allowed 27 foreign investments and […]

Mergui: Paradise about to be lost?

MYEIK, Myanmar, 1 December 2017: Regarded as one of the last island paradises left on Earth, Mergui Archipelago is fast becoming one of the most sought-after new destinations in Asia. Currently lacking any significant tourism infrastructure, the formerly off-limits region in the Andaman Sea only opened to pioneer tourism in 1997 after half a century […]