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Falling kyat may put pressure on foreign debt

The falling value of the Myanmar kyat versus the US dollar could make repaying external debt harder for the government in the coming fiscal year. In 2018-19, it is expected to repay K877 billion out of the $9 billion Myanmar owes to foreign creditors, according to the budget submitted for the period. That amount may […]

Education Ministry Suspends Construction of 6,000 New Schools

NAYPYITAW — The Education Ministry has suspended its project to construct about 6,000 educational facilities including basic education schools across the country due to budget constraints. The government had already granted a budget for the project but since new President U Win Myint increased the pay for civil servants in April, the Education Ministry no […]

Government guarantees needed for large investments in real estate sector

Government guarantees on investments and policies are required before Yangon and the rest of the country can secure the capital needed to develop large-scale megacity projects, real estate experts said. Although foreign investors have mostly been keen to invest in the attractive Yangon real estate market, they mainly stay away from lucrative megacity development projects […]

MIC Announces Housing and Industrial Projects

The Myanmar Investment Commission (MIC) announced a national low-cost housing construction project and industrial land building project. They will be among the top-10 prioritised projects supporting both domestic and foreign investors in those sectors. “After the MIC announced low-cost housing projects as top-priority projects, some foreign and local developers are now interested to invest in […]

MPs Investigate Validity of Coffee, Mulberry and Teak Plantations

In the past, forest lands in the Pyin Oo Lwin township of the Mandalay region had been taken over by military officials, retired civil servants, and entrepreneurs, to plant coffee, mulberry and teak. However no one actually knows whether these things were actually carried out. Therefore, some 15 Hluttaw members got together to lead the […]

By-Laws Necessary for Condo Market to Pick up Steam

​​ To improve the lacklustre selling market for condominiums, officials need to enact condominium by-laws soon, said developers such as U Kyaw Kyaw Naing, managing director of iGreen Construction Company Limited. Although the Condominium Law was enacted during the last week of January 2016, by-laws have not come into effect until recently. The condo-selling market […]

Hlegu Lures Speculators

​​ Speculators with their eyes on Hlegu township are turning the area into a property price hotspot, according to real estate agents. The property market in Yangon has been notoriously sluggish in recent years, but speculators are making an exception of Helgu, said Daw Thuzar May, director of Thit Sar property real estate agent. Real estate agents […]

Yangon government to clamp down on renting apartments to foreign tourists

Yangon landlords will face penalties if they rent rooms or apartments to foreigners holding a tourist visa, U Zaw Aye Maung, the military-appointed region minister for immigration, told The Myanmar Times. By-laws written for Myanmar’s 1947 Immigration Act stipulate that foreign visitors on a tourist visa must stay in hotels, he said. Only permanent residents and […]

Eighty per cent of Myanmar rubber exported to China

The Myanmar rubber market is heavily dependent on China because about 80 per cent of the raw materials of Myanmar rubber are being exported to China, it has been learnt. Myanmar also exports rubber to India and Japan. Some rubber growers who can afford to cultivate new, highyield rubber varieties fell their old trees,which cannot […]

Rubber farmers replace old rubber trees with high-yield variety

WITH rubber prices declining, some rubber plantation owners have begun felling their rubber trees and selling them as firewood, while some are replacing them with new rubber varieties that have higher yields. “The price of rubber is on a gradual decline. Some rubber farmers sell their rubber trees as firewood because selling rubber latex can’t […]