Light Manufacturing to Lead Way in Foreign Investment

​​ RANGOON — Burma’s light manufacturing sector will lead the way in foreign direct investment in 2017 although investor concerns over the country’s infrastructure persist, according to the local business community. Foreign investors visiting in the last year had questions over energy supply, transport and land issues and heavy industry manufacturers are hesitant to invest, […]

MIC Working to Avoid Line Ministry Approval for Investments

The Myanmar Investment Commission (MIC) is working on guidelines that would allow foreign investors to avoid the time-consuming process of asking government ministries for permission under the new Myanmar Investment Law. Receiving a green light from line ministries is already a “big barrier” for investors in Myanmar, whereas dealing directly with MIC takes much less […]

Military Conglomerate Hoping for More JVs

U Hla Moe, general manager of the planning department for the military conglomerate Myanma Economic Holdings Limited (MEHL), spoke to The Myanmar Times for an exclusive interview on operating as a public company, the outlook for joint ventures with foreign firms and competing on a level playing field in Myanmar’s new economy. The military established Myanmar Economic […]

YCDC Performs Final Check on 55 High-Rise Buildings

RANGOON — Rangoon’s high-rise review committee has performed the final check on 55 new buildings and is preparing to inspect a remaining 130 structures, U Than Htay, head of Yangon City Development Committee’s (YCDC) building department, told the Irrawaddy. Of the 55 buildings inspected from Sept. 8-9, 43 were approved and the developers of 12 […]

Yangon zoning plan to be made public this year: official

Yangon may finally be getting its long-awaited zoning plan, officials say. A draft drawn up by the city’s development committee will be opened for public comment before being adopted as law by the regional parliament, a Yangon City Development Committee spokesperson said. The zoning and land use law will be submitted to parliament after a […]

Yangon’s peripheral townships lack funding, says chief minister

The Yangon Region chief minister said this week that he hopes to support development in 12 townships that sit outside the Yangon City Development Committee’s jurisdiction, and create jobs for people at the edges of the city. U Phyo Min Thein told a meeting of young entrepreneurs on August 1 that more funding is needed for the […]

Yangon authorities appear to backtrack over high-rise review

Yangon city authorities appear to have come down on the side of angry developers in the row over the suspension of 222 projects either under construction or at the planning stage. Following a city-wide review of project designs, the suspension was ordered because the buildings reportedly violated draft zoning regulations. However, the draft in question has yet […]

Yangon high-rise review divides officials

  The chair of Yangon Region parliament’s economic committee has spoken out in support of developers, after they were ordered by a separate committee to change their project designs as part of a city-wide review of high-rises under construction. Daw Sandar Min, who heads the regional Finance, Planning and Economic Committee, said developers had suffered “enormous […]

Yangon high-rise review will cause bankruptcies, developers say

Twelve developers ordered by the government to reduce the scale of their high-rise residential projects in Yangon said yesterday that the review – which includes a total of 185 projects – could cause up to US$6 billion in losses and force many companies out of business. The developers held a joint press conference in Yangon […]

Official defends Yangon high-rise review as more results due

A member of the Yangon high-rise inspection committee charged with a city-wide review of high-rise projects has defended the controversial inspections, saying they are a “one off”, as developers brace for the second batch of results to be released tomorrow. Following a two-month blanket suspension on construction at all projects with nine floors or more, the committee released […]