Light Manufacturing to Lead Way in Foreign Investment

​​ RANGOON — Burma’s light manufacturing sector will lead the way in foreign direct investment in 2017 although investor concerns over the country’s infrastructure persist, according to the local business community. Foreign investors visiting in the last year had questions over energy supply, transport and land issues and heavy industry manufacturers are hesitant to invest, […]

Thilawa SEZ Receives US$900 Million in Foreign Investment

​​ RANGOON — Japan-backed Thilawa Special Economic Zone (SEZ) in Rangoon’s Thanlyin Township has received more than US$900 million in foreign investment since its launch in 2014, said a recent report issued by the Myanmar Investment Commission (MIC). “Since the start of the operation, the SEZ has received US$903 million foreign investment,” MIC secretary U […]

Education Ministry Wants to Take Back Rangoon Land from Property Developer

RANGOON — Burma’s Ministry of Education now wants Parliament to help it take back a valuable parcel of land that the former government gave away to international developer Marga Landmark. The 17.7-acre tract, situated in a prime location close to Rangoon’s Inya Lake and the Sedona Hotel, once belonged to the Ministry of Science and […]

Burma’s Electricity Demand Predicted to Nearly Double By 2020

RANGOON — Demand for electricity consumption in Burma could double over the next four years, the Asian Development Bank (ADB) and government officials have predicted. Electricity consumption throughout Burma is limited to 2,500 megawatts per day, while total production is 4,500 megawatts from both hydropower and thermal power production. The commercial capital of Rangoon accounts […]

Gems Emporium Expected to Attract US and EU Traders

RANGOON — More Western jade traders are expected to attend to the upcoming Naypyidaw Gems Emporium, after the lifting of US economic sanctions last month. Among the American restrictions which were lifted was a longtime ban on transactions involving jade, gems and jewelry from Burma. The move by the US government—announced in September—was criticized by […]

Aung San Suu Kyi Woos Tycoons in Naypyidaw Meet-Up

NAYPYIDAW — State Counselor Daw Aung San Suu Kyi reassured some of Burma’s most prominent tycoons that their place in Burma’s economy and society was secure, so long as they backed government policy, left themselves open to scrutiny, and “worked for others.” She stressed that her intention was not to dwell on the past, expressing […]

Govt’s Foreign Investment Policy to be Released this Month

RANGOON – Foreign investment policy will be announced this month after President Htin Kyaw passes a revamped Myanmar Investment Law, according to secretary of the Myanmar Investment Commission (MIC) U Aung Naing Oo. Burma’s business community has been growing impatient waiting for details of foreign investment policy after criticizing the government’s 12-part overall economic policy […]

Construction Projects by Rangoon’s Inya Lake Suspended

RANGOON — Multiple construction projects on the site of a public garden occupying a peninsula in Rangoon’s Inya Lake were suspended on Monday by city officials, and will undergo an investigation. The projects have faced criticism from the public, the media and urban planners, for misusing public space intended for general recreation, and have faced scrutiny […]

Hanthawaddy Airport Agreement in Final Stage

RANGOON — A final concession agreement will be signed by the end of this year with the Japanese-Singapore consortium which won a tender to construct the Hanthawaddy International Airport north of Rangoon, according to a government minister. U Thant Sin Maung, Burma’s Minister for Transport and Communications, told lawmakers during the parliamentary session on Tuesday […]

Two-Thirds of Disabled Children Not Enrolled in Formal Education

RANGOON — A joint report published by the United Nations International Children’s Emergency Fund (Unicef) has stated that Burma’s national education law needs to be amended, as two-thirds of the country’s 232,000 disabled children do not obtain a formal education. A 122-page report by Unicef and the Ministry of Social Welfare, Relief and Resettlement was launched in Naypyidaw on […]