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Picking up speed on Yangon’s Circular Railway

A RIDE on Yangon’s Circular Railway offers a fascinating if bumpy tour around the commercial capital in the company of passengers from all walks of life, including commuters, vendors and beggars. The 46-kilometre line, with 38 stops, also provides a glimpse of the daily lives of the city’s residents during a round-trip that passes through […]

Details scarce on funding, planning for flood prevention at new Yangon city project farmers

Lying less than 5 meters above mean sea level, receiving a large amount of rainfall during the monsoon season and surrounded by waterways on three sides, the nearly 20,000-acres of land on the west bank of the Yangon River that lie directly across from Myanmar’s commercial capital were, until recently, never high on city planners’ […]

Parliament approves US$749m Japan loan for Yangon, Mandalay

The Pyidaungsu Hluttaw (Assembly of the Union) has approved a ¥82.27 billion (US$748.5 million) loan for urban development projects in Yangon and Mandalay. The loan would finance sewage pipe system development in Yangon, as well as electricity distribution in Yangon and Mandalay, among others, according to U Maung Maung Win, deputy minister of Planning and […]

Systematic housing market to create opportunities for investors: Yangon Chief Minister

Despite reports that apartment sales are stale, a market is being formed in which hundreds of thousands of people are in need of housing, and systematic housing construction will create opportunities for local and foreign investors, said Yangon Region Chief Minister Phyo Min Thein. He made the remark during a housing finance workshop held in […]

Parliament approves to borrow US$80 M from ADB

Union Parliament approved to borrow US$80 million from Asian Development Bank (ADB) for towns along Greater Mekong Sub-region development project. Kyaw Tin, Deputy Minister for Construction said the project is to develop towns located along the East-West Economic Corridor in Greater Mekong Sub-region. The ministry chose Hpa-an and Myawady from Kayin State and Mawlamyaing from […]

New Investment Law Authorises First Project Led by Japanese Hotel Chain

The Japan-based Hotel Okura will open its first hotel in Myanmar with the help of Japan’s government-private fund in 2020, according to the company’s press release dated July 28. Construction of Okura Prestige Yangon will commence this year and is expected to complete by 2020. Okura Prestige Yangon will be the company’s first project in […]

Thirty development projects in pipeline in Mandalay through fiscal 2020-21

The regional Minister for Planning and Finance, U Myat Thu told the second session of the regional Hluttaw that the development projects will be implemented in two ways; some will be carried out with loans and some will be carried out with financial support. Nineteen of the projects will be carried out with the help […]

Myanmar designates 20 fields to promote investment

Myanmar’s efforts to promote investment will target 20 newly designated fields covering 192 types of businesses and services, using a law enacted in October that makes it easier for foreign companies to receive tax benefits. The industries covered include manufacturing, agriculture, urban development, communications and medicine, while fields such as mining and finance did not […]

JMHU Offers $20 Million in Capital to Implement Low-Cost Housing Projects

​​ Japan-Myanmar Association for Industry of Housing and Urban Development (JMHU) has offered to provide US $20 million to Myanmar to implement low-cost housing projects, according to a press release issued by the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI).  A local public company, Myanmar Construction and Development, […]

Myanmar-Japan joint venture eyes infrastructure investment

A joint venture between Myanmar’s leading heavy machinery distributor, Myanmar Kaido Co, and Japanese trading giant Mitsubishi Corp aims to capitalise on the rapid development of the Southeast Asian country’s urban infrastructure through the rental of construction and other equipment. An opening ceremony for the joint venture, Diamond Rental Myanmar Co, 50% owned by Mitsubishi, […]