Government revokes miner’s permit on failure to pay gold debts

The gold mining permit of National Prosperity Company (NPC), which operates in Moehti Moemi mining district in Yamethin, Mandalay, has been revoked after the miner failed to pay a sum in gold owed to the government, U Thein Soe, deputy permanent secretary from the Ministry of Natural Resources and Environmental Conservation said. NPC entered into […]

Government Orders Cut in Teak Production, Bans Private Timber Operations

YANGON — The government has ordered timber production be reduced by 40 percent in the 2017-18 fiscal year, while banning private timber operations altogether, according to the Naypyitaw Forestry Department. The department will oversee the production of only 15,000 tons of teak and 350,000 tons of hardwood from forests across the country. According to the […]

Toyota Should Reconsider Myanmar Growth Strategy

Japan’s Toyota should reconsider its growth strategy in Myanmar to maintain pole position in the country. Toyota vehicles are known for their quality and affordability in Myanmar. As such, the car maker has for years enjoyed the highest share of the local car market. In fact, Toyota dominates car markets across ASEAN, including in Indonesia, […]

Myanmar’s Largest Oil Refinery Project Cancelled

Construction of a multi-billion-dollar oil refinery in the south of Dawei has been cancelled after an investor in the project ran into financial constraints, sources confirmed. If completed, the oil refinery would have been the largest in Myanmar. The project, which is backed by the Chinese, had received approval under the former government led by […]

Myanmar main beneficiary of Kyaukphyu: CITIC

YUAN Shaobin, executive president of CITIC Myanmar, which is the developer of a proposed Special Economic Zone (SEZ) in Rakhine, disagrees with critics who have accused China of taking an unfairly large stake in the project. He insisted that Kyaukphyu SEZ will spur much-needed developments in the region and that comparing Kyaukphyu’s ownership structure to […]

Frustration mounts as Kyaukphyu port negotiations stall

Kyaukphyu’s Chinese investors have hit back at criticisms over their majority stake in a proposed deep-sea port in Rakhine. They emphasised that it was the Myanmar government who drew up the shareholder structure and that the ball is in Nay Pyi Taw’s court to break the inertia and move the negotiations forward. Kyaukphyu is the […]

Japanese Businesses Express no Interest in Dawei or Kyaukphyu SEZ

Interview with Katsuji Nakagawa from the Japan Chamber of Commerce and Industry in Myanmar Japanese businesses have not indicated any interest in Dawei SEZ or Kyaukphyu SEZ, and see the lack of reliable power supply as the biggest challenge in Myanmar, the chair of the Japanese Chamber said. Katsuji Nakagawa, chair of Japan Chamber of […]

Ministry Aims at 1 Million Housing Units by 2030

​​ The Ministry of Construction has planned to implement one million units by 2030, according to the government’s housing development plan. The plan began in 2012 and it is intended to be implemented over the course of five years. As the plan is reaching its first five-year marker, the government should be building an estimated […]

Myanmar, Finland Hold Discussions on Bilateral Cooperation

​​ State Counsellor and Minister of Foreign Affairs Aung San Suu Kyi met last Thursday with Finland’s Foreign Trade and Development Minister Kai Mykkanen in Nay Pyi Taw for discussions on bilateral cooperation. Myanmar’s Ministry of Foreign Affairs said the topics discussed covered manufacturing value-added forest products and natural resources, education and vocational training as […]

Yangon airport T1 gets first foreign tenant

Yangon International Airport’s shiny new terminal has been almost empty since it opened in March – hosting only the country’s flag carrier Myanmar National Airlines. But space and facilities are becoming increasingly important for the raft of foreign firms aiming to add Myanmar routes, and the first international airlines are starting to move in. The […]