Dilemma on minimum wages could lead to better productivity

Concern is rising among employers over demands that the minimum wage be raised to K4,800- K6,600 ($4-$5.20) per day from K3,600 per day currently. That’s a potential increase in wages of more than 80 percent, a move which, if implemented, could put many companies out of business. The Confederation of Trade Unions in Myanmar (CTUM), […]

Burma Signals for Foreign Investment

NAYPYIDAW — Burma’s businesspeople are expecting foreign investments to help launch their projects after buying thousands of acres across the country to develop industrial zones and large-scale operations, according to the Myanmar Investors Development Association (MIDA). Companies presented their ventures at MIDA’s Myanmar Investment Forum 2017 in Naypyidaw on June 6-7, which attracted mostly Chinese […]

More Economic Zones Needed to Boost Manufacturing: MIDA

Businesses and economists suggested that economic growth would depend on a growing manfacutring sector, liberalisation and revising the governing framework of different sectors. Deputy minister for the Ministry of Commerce, U Aung Htoo, said that the ministry would boost export and simplify procedures for trade and exports. The comments were made to follow up the […]

ICB Bank to Double the Size of its ATM Network in 2017

​​ RANGOON — The locally-owned Co-Operative Bank Limited (CB Bank) plans to double its network of ATM machines in 2017, it announced on Friday. CB Bank will purchase both ATM machines and customer self-service machines from the company Diebold Nixdorf, which operates in North Canton, Ohio, United States and in Paderborn, Germany. Diebold Nixdorf has […]

Yangon realtors call for wide-reaching reforms

Yangon real estate agents are hoping the incoming government can breathe new life into the real estate sector, where sales have slowed over the past couple of years to a near-standstill, condominium units lie empty and a growing number of people areunable to afford basic accommodation. Growth in the sector – and the ultimate goal of providing affordable […]

Speculation squeezes potential gains from Dala property

  The launch of new infrastructure projects often sees property prices surge in the surrounding area. But prices in Dala township, where a bridge will be built to connect the area to Yangon, were pushed so high in the past by speculation that the market has remain unchanged. The Korean-funded project was launched in Dala […]

Few ‘condos’ qualify under new law, say experts

The new condominium law – which will grant international buyers access to Myanmar’s real estate market for the first time – has been widely welcomed, but experts say just a handful of properties are initially likely to be eligible. After years of debate between the two houses of parliament, the law was passed on January […]

Myanmar fishermen protest Thai hires

The hiring of Thai helmsmen on Myanmar fishing boats has been criticised by the local fishing industry. Two Myanmar companies last year hired Thai captains on the grounds that they were familiar with the use of sonar to find fish. The issue has long been contentious. Faced with opposition by local fishermen, the Ministry of […]

Hmawbi residents in the dark over new city

Hmawbi township feels a long way from Yangon. Located just beyond the city’s northern limits, it is well known for supplying vegetables and fruit to the markets in Myanmar’s commercial capital. The main roads are busy but the area is rural and underdeveloped. Its tallest buildings are two six-storey towers beside the Hmawbi Myot Ma […]

Staff protest sackings from Bagan hotel

Angry staff at a Bagan hotel say they will hold further protests unless five sacked colleagues are reinstated and given compensation. The workers were fired from Bagan Hotel River View on March 8 for leaking confidential information on “service money” paid to staff members, according to the secretary of the Bagan labour union, who was […]