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National plan mooted for 2019-2020, gdp growth to hit 7pc

Parliament has approved the new National Plan law for fiscal 2019-20, which will be effective from October 1, 2019 to September 30, 2020. The National Plan is expected to help Myanmar’s GDP grow by 7 percent to K95.4 billion during the period compared to 6.8pc in fiscal 2018-19. Contributing to economic growth is the financial […]

Company of Former Myanmar Dictator’s Grandson Among 4 Sued for Unpaid Loans

YANGON—AYA Bank, one of the largest private banks in Myanmar, has sued four companies— including one owned by a grandson of late military dictator Gen. Ne Win—for unpaid loans, according to the Yangon Region High Court. The bank has sued Omni Focus Co, owned by U Ne Win’s grandson U Kyaw Ne Win, along with […]

In Myanmar’s Commercial Capital, Mayor’s Sidewalk Store Plan Draws Criticism

YANGON—A plan by the mayor of Myanmar’s commercial capital to install mini convenience stores next to bus stops has Yangonites and regional lawmakers crying foul. They say the plan will only further reduce the already scarce space for pedestrians on its narrow sidewalks. Yangon Mayor U Maung Maung Soe announced the plan during a press […]

Myanmar strategic annual revenue jumps after exera buy but loss widens

Myanmar Strategic Holdings Ltd on Tuesday said its revenue multiplied in its most recently ended financial year, but loss widened amid higher costs. The guarding, protective, transportation, and training services provider said its loss widened in the year to the end of March to USD2.6 million from USD2.1 million reported a year prior, due to […]

The many battlefronts of Grab versus Gojek in Southeast Asia

The term ‘super app’ became a popular buzzword in Southeast Asia after Grab and Gojek, the region’s two biggest tech startups, began using the term to describe themselves. It’s meant to signal their ambition to become the one-stop app to offer services and solutions that help people address their daily needs–from transportation to food, to […]

Work on city side of Yangon-Dala bridge to start next month

YANGON—Construction on the Yangon side of the planned Yangon-Dala Bridge will begin next month, regional Chief Minister U Phyo Min Thein said at a regional investment committee meeting on Wednesday. Spanning the Yangon River, the bridge—also known as the Korea-Myanmar Friendship Bridge, as it is funded by South Korea’s Economic Development Cooperation Fund (EDCF)—will link […]

Dawei SEZ stands better chance with Japanese participation, officials say

The governments of Myanmar, Japan and Thailand will be meeting over the troubled Dawei special economic zone (SEZ) project that has stalled since 2013 for lack of funding. Ministers will form a Joint Cooperation Committee to discuss how Japan can be more involved in developing the SEZ. Located 20 kilometres north of Dawei, capital of […]

Special economic zones pull in over $208 mln in investment

More than 110 enterprises, including four domestic businesses, invested US$208 billion in the Special Economic Zones (SEZs), under the Special Economic Zone Law, as of 10 July in the current fiscal year, according to figures released by the Directorate of Investment and Company Administration. Singapore topped the list of foreign investors, accounting for more than […]

The sky’s the limit for Yangon’s new roads: An interview with Kyi Zaw Myint, Director General—Ministry of Construction.

Question: “First and foremost, what is in store for the future of transportation in Yangon? What are some of the goals of these proposed large scale projects and expressways?” Answer: “The Ministry of Construction, with goals to create new networks of transportation, plans to build two elevated highways: one within and one encircling Yangon city. […]

Myanmar, Japan revive talks on building Hanthawaddy airport

Myanmar and Japan will form a joint venture and sign an agreement next year to kickstart the long postponed Hanthawaddy International Airport project located 80km north of Yangon near Bago. According to several government officials, both the Myanmar and Japanese governments have met at least four times to nail down details of the project, which […]