Central Bank to Reform Reference Rate

​​ The Central Bank will reform its daily dollar auction system as part of an attempt to address the weakening kyat, deputy governor U Set Aung told Myanmar’s business community last week. The deputy governor, along with vice president U Myint Swe, Minister for Finance and Planning U Kyaw Win and Yangon Region Chief Minister […]

Mayor: ‘New City’ Going Forward, Imperative For Yangon’s Future

The Yangon Region government is pressing ahead with plans in the commercial capital townships of Twante, Seikgyi Khanaungto and Kyeemyindaing for the “new city” development, in line with a broader master plan it has for Myanmar’s biggest city, Mayor U Maung Maung Soe told the regional parliament last week. U Maung Maung Soe said the […]

Myanmar moves to jump start coffee cultivation

Demand for coffee is booming in an increasingly caffeinated world, and although Myanmar is capable of producing international-quality product it has neglected the crop for years. But agricultural ministry officials are hoping to develop a coordinated strategy to ramp up production and connect cultivators with world markets. Myanmar has been growing coffee for years but in relatively […]

Foreigners taking care committee has its first meeting

A supervisory committee for “taking care of foreign visitors” commissioned by the President’s office met in Nay Pyi Taw yesterday. Vice President 1, U Myint Swe, chairman of the committee, spoke at the committee’s first meeting. In his address, U Myint Swe said that Myanmar Police Force has established a 24/7 channel to connect the […]

Harnessing investment into Yangon’s development

The construction market has slowed considerably in Yangon over the past year but developers hope that good times for the industry will return under the new government. When the Union Solidarity and Development Party first took power, development boomed, with high-rises, flyovers, bridges and luxury condominiums built at speed, fuelled by both foreign and local investment. For the […]

Yangon chief minister vows corruption fight

The new chief minister for Yangon region U Phyo Min Thein has promised that his government will clean up corruption over its five-year term. U Phyo Min Thein, a National League for Democracy MP for Hlegu, was nominated yesterday by President-elect U Htin Kyaw and approved by the Yangon Region Hluttaw without objection. Speaking to […]

NLD reps propose suspension, review of Parkway hospital project

A parliamentary committee has recommended the incoming Yangon Region government suspend two approved projects on state land, including a US$70 million private hospital development. U Kyaw Zeya, secretary of the Yangon Region Finance, Planning and Economic Committee, said the projects should be halted immediately and reviewed by the parliament and government once the new administration, […]

Myanmar Lawmakers Name Htin Kyaw President, Affirming Civilian Rule

NAYPYIDAW, Myanmar — Myanmar’s Parliament elected a confidant of Daw Aung San Suu Kyi as president on Tuesday, ending decades of leadership by the military and its allies. U Htin Kyaw, 69, won with more than half the votes. He was considered almost certain to take the presidency after his nomination last week by Ms. […]

IHH makes foray into Myanmar

Its indirect unit is opening US$70mil hospital in Yangon KUALA LUMPUR: IHH Healthcare Bhd, through its indirect wholly-owned subsidiary, Parkway Healthcare Indo-China Pte Ltd, held a groundbreaking ceremony for a US$70mil, 250-bed hospital in Yangon, Myanmar. The new hospital, Parkway Yangon, is Parkway Pantai’s first hospital in Myanmar, IHH said in a statement here, yesterday. […]

Labourers to be Housed at Hlaingtharyar

A housing complex for labourers is set to be established in Hlaingtharyar in Yangon. U Myat Thin Aung, president of Hlaingthartar Industrial Zone, said that this housing complex is being established by the owners. The authorisation has been granted from the Department of Human Settlement and Housing Development for land rental under a five year […]