IFC, YCDC to improve construction permit system

The International Financial Corporation (IFC) the sister organisation of the World Bank, is partnering with the Yangon City Development Committee(YCDC) to reform the city’s construction permit system and optimise the role of the private firms. “The goal of this partnership with IFC is to streamline and automate Yangon’s construction permit process by June 2019. This […]

Yangon government urged to rein in proliferation of illegal massage parlours

Members of Parliament have urged the Yangon Region government to set clear regulations on opening massage parlours as well as bars and karaoke lounges in hotels and other commercial outlets in Yangon. During a parliament session last week, MPs raised questions on the licensing procedures and controls in place on running such establishments. They also […]

Confident of long term growth, Serge Pun bets big on tourism, property

Investors looking for clues on where the Myanmar economy is headed may glean some insight from Serge Pun’s recent corporate maneuvers. The 65-year-old Myanmar tycoon has not been idle of late. Last month, units of Peninsula Residences Yangon, a collection of 96 private luxury homes, went on sale. The homes are part of the Yoma […]

Thai investors buoyed by CLMV investment climate

Following the strong economic growth in Asean, especially in CLMV countries (Cambodia, Laos, Vietnam, and Myanmar), Thai investors have expanded their regional investment by focusing on alternative energy, food and agriculture processing, tourism, and service business. According to a report by the Bank of Thailand, as of September 30, 2017 Thai investors showed outstanding direct […]

Myanmar stresses importance of rule of law for national development

YANGON, March 12 (Xinhua) — Myanmar State Counselor Aung San Suu Kyi has stressed the importance of rule of law and its effect on national development, calling for enforcing rule of law to achieve peace for development. Addressing the Conference on Justice Sector Coordinating for Rule of Law in the capital of Nay Pyi Taw, […]

Myanmar Aims to Harmonise Hotel Industry, Environment

The newfound political stability in Myanmar since the peaceful transition to democracy began two years ago has led to a boom in the country’s hotel industry, buoyed by the influx of tourists. But in the rush to construct more hotels to provide accommodation for the bourgeoning tourism sector, issues related to environment and environmental conservation […]

Myanmar drafts digital economy master plan

The Digital Economy Development Committee (DEDC) is drafting the Myanmar Digital Economy Development Master Plan to develop and regulate the country’s booming digital economy, committee member U Mya Moe Aung said. In addition, the DEDC will prepare a short-term (2-3 years) and a medium-term (3-5 years) working programme. It will start implementation when the master […]

More Asian Travellers Expected to Arrive in 2018

Industry players forecast tour packages from Asian markets to jump 25 percent in 2018 and 2019, while arrivals from European countries could dip by almost 20pc for the same period. U Khin Zaw, advisor of the Union minister of Hotels and Tourism, told The Myanmar Times on January 3 that the change in arrival pattern was […]

Regions and States Seek Permission to Operate Casinos

FIVE regional and state chief ministers have sought permission to operate casinos in hotels in their respective territories during a meeting with Vice President U Henry Van Thio in Nay Pyi Taw in last month, according to U Yan Win, chair of Myanmar Tourism Federation. The chief ministers from Mandalay, Tanintharyi, Shan, Kayin and Mon discussed […]

Still no Decision on Hotels in Bagan Zone

The government is yet to decide on what to do with the hotels in Bagan heritage zone, even as the UNESCO has been suggesting their relocation since 2013. “UNESCO suggested the transfer of the hotels and buildings in heritage zone to other places since 2013, but no action has been taken yet,” UNESCO’s national project officer […]