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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 […]

Water bus to run in Ngamoeyeik creep: Yangon Chief

The region government is planning to run water bus in Ngamoeyeik creep for the convenience of water transport, said Yangon Region Chief Minister Phyo Min Thein during an interview with Myanma Ahlin newspaper. If the water transport is used, it can reduce the traffic jam in Yangon and transaction can be made through water transport, […]

Yangon Port handles over three million containers within three-year time

A total of eight new jetties, which can dock bulk carriers, are built within three-year time and more than three million containers are handled in that period, according to Myanma Port Authority (MPA). Yangon port, which is handling over 90 per cent of international maritime trade, has now possessed up to 41 jetties. Myanmar has […]

Germany’s METRO AG starts operations in Myanmar

Germany’s wholesale company Metro AG, kicked-off its operations in Myanmar over the weekend. The company will serve its customers in the fast-growing hospitality and tourism sectors from its modern warehouse in Yangon through its state-of-the-art digital ordering and delivery services. “The food wholesale industry in Myanmar offers big potential for Metro and we believe our […]

Yangon’s ‘new city’ plan raises a billion-dollar question

On January 12, the Chinese embassy in Yangon issued a statement that mentioned the US$.3.6 billion Myitsone dam project, suspended by the government since 2011, in a manner that aroused indignation in political circles and among the public. The statement, issued after a visit to Myitkyina by Chinese ambassador Mr Hong Liang, attributed Hong as […]

Vietnamese firm makes steel products in Thilawa

With Myanmar rapidly opening up to development, steel is becoming increasingly important to various industries in the country. Steel structures can be seen springing up across Yangon. As such, a Vietnamese steel importer is operating a manufacturing unit in Myanmar. Despite being one of the essential materials for construction, Myanmar relies heavily on imports rather […]

City Loft opens for sale on the back of rising demand for Thanlyin property

Units of City Loft apartments in Thalyin, Yangon, are now open for sale. Developed by Yoma Land Company, the project targets middle-class buyers. City Loft will occupy 22 acres of land in the StarCity compound in Thalyin, another project developed by the Yoma Land. Phase 1 of the project, which is expected to be complete […]

Myanmar’s first dry port opens for business

KM Terminal & Logistics Ltd (KM) and Resource Group (RG) officially opened two separate dry port projects in Ywar Thar Gyi, Yangon yesterday. A dry port is an inland intermodal terminal directly connected by road or rail. Freight trains will run from Ywar Thargyi to a second dry port in Myit Nge, Mandalay, which KM […]

Construction of new multi-purpose port in Yangon proposed in parliament

A proposal to construct a multi-purpose port in Kawhmu township, southwestern Yangon, was submitted to the Yangon Regional Parliament by U Zaw Aye Maung, Rakhine ethnic minister last week. “Yangon is the gateway to trade and handles up to 95 percent of the country’s imports and exports. The current port capacity in Yangon and Thilawa […]

New bridge to resolve Thilawa’s transport nightmare

INVESTORS in Thilawa Special Economic Zone (SEZ) and Thanlyin residents now see the light at the end of the long tunnel, as a new bridge connecting the area with Yangon is scheduled to complete within four years. The new Bago River bridge, expected to become operational in 2021, will be built next to the existing […]