Myanmar property group sees its future in consumer sector

In the heart of Yangon, the commercial capital of Myanmar, the former headquarters of Myanmar Railways is surrounded by white steel frames. The historic redbrick building, more than a century old, is being restored and will be the future site of the Peninsula Yangon, a luxury hotel set to open in 2021. The grand structure […]

Yangon residents unhappy with YCDC: survey

A survey conducted by civil service group Alinsaetamarn Library and Resource Centre has revealed that the majority of Yangon’s residents are dissatisfied with the Yangon City Development Committee (YCDC). The survey, which polled the views of 1,205 members of the public across Yangon, was conducted in March. The results revealed that most residents are unhappy […]

US sanctions force jade into a corner, say traders

Jade traders say US sanctions have forced them to rely on Chinese investors and buyers, who dodge taxes and operate with little to no transparency. If Washington were to remove sanctions, they say, it would speed up reform in the troubled sector. Since the US banned imports of gems and jade in 2003, China has […]

Lenders Urge Central Bank to Be More Flexible on Regulations

Bankers are urging the Central Bank of Myanmar to reconsider a recent regulation that might leave many of Burma’s commercial lenders struggling in the market. On Nov. 16, private lenders, officials from the Central Bank and President’s Office Minister Soe Thane met to discuss the state of Burma’s banking industry and its future when a […]

In Myanmar, local candidates want to fix more than potholes

YANGON, Myanmar — Municipal elections tend to hinge on issues like traffic congestion and trash collection — both of which are growing concerns on the aging streets of Myanmar’s fast-growing former capital. But Win Cho, a 56-year-old social activist and businessman, has a loftier agenda as he runs for a seat on the Yangon City […]

MPs criticise govt contract to company without invitation to tender

Members of Parliament criticised the government for giving ACE Construction Company the contract to construct a stage in Nay Pyi Taw for a grand military review, estimated to cost Ks 6.4, without inviting tenders. MP Sandar Min said, “The additional budget for the grand military review is not included in the budget estimate. The Ministry […]

Myanmar -EU Business Chamber formation mired in infighting and name calling

The EU Delegation has tentatively chosen a candidate to launch and operate a forthcoming EU Chamber of Commerce in Myanmar – though not an organisation which had been hoping for the European business chamber mantle in the country for years. Euro Business Forum founder Luc de Waegh said his organisation could have completed the project […]

Government procurement law needed, says deputy attorney-general

The government needs to enact a procurement law to ensure transparency and prevent corruption, said Tun Tun Oo, deputy attorney-general, at the session of lower house of parliament on September 29. He was replying to MP Tin Maung Oo’s question on “whether there is a plan to enact the government procurement law for the emergence […]

New city project suspended indefinitely, says Yangon mayor

A controversial US$8 billion project to build a new city on Yangon’s western outskirts has been indefinitely suspended by the Yangon region government. The decision to suspend the project was announced in the Yangon regional hluttaw from Yangon Mayor U Hla Myint on September 26. Asked how long the project had been suspended, U Hla […]

Myanmar Has Swapped a Military Dictatorship for a Stock Exchange

Why you should care Myanmar has one of the last untapped economies in the world and a wealth of gas, gems and other resources. A stock market could eventually provide an entry point for investors. Thinking of investing in Myanmar? Just maybe it will be possible soon. The last time Myanmar launched a stock exchange […]