YANGON—Myanmar and South Korea have agreed to cement their economic cooperation, particularly in the trade, investment and energy sectors, to help Myanmar overcome the economic fallout from the coronavirus pandemic. Speaking via videoconference during Wednesday’s first meeting of the two countries’ Joint Commission for Trade and Industrial Cooperation, South Korean Trade, Industry and Energy Minister […]
Bridging the gap: Yangon’s boom falls short across river
September 24, 2019 by
On her scruffy, downtrodden bank of the river, teashop-owner Khin works just a few hundred metres across the muddy water from Yangon and dreams of the riches promised by a new bridge linking to Myanmar’s commercial heart. “The quicker, the better,” 58-year-old Khin Than Myint tells AFP of the construction of the US$168 million bridge, […]
Details scarce on funding, planning for flood prevention at new Yangon city project farmers
September 23, 2019 by
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’ […]
New Yangon City Chief Grilled Over Chinese Contractor’s Reputation
March 14, 2019 by
The CEO of the company developing the controversial New City project on the west bank of the Yangon River has defended the involvement of a Chinese firm with an international reputation for engaging in bribery and corruption. The Yangon government-backed New Yangon Development Company (NYDC) last year signed a US$1.5-billion (about 2.3 trillion kyats) framework […]
Public Needs Reassuring Over BRI-Related New Yangon City Project Yangon
March 7, 2019 by
Of all the development projects initiated by the Yangon government, the New Yangon City project is indisputably the most controversial. From the beginning, the project’s location—a 20,000-acre site on the west bank of the Yangon River—has been questioned due to the flood-prone topography of the area. Then it emerged that the project’s main developer, the […]
Dala property prices soar due to bridge project
January 8, 2019 by
After the government had approved the construction of Myanmar-Korea Friendship Bridge connecting to Dala Township, property prices have risen in a blur as rumors of small-scale industries as well as housing projects in Dala runs rampant. According to property agents and Dala locals, land prices hiked up as much as tenfold. Over a month ago, […]
Hong Kong Firm Close to Finalizing New Yangon City Proposal
November 28, 2018 by
Hong Kong-listed China Communications Construction Co. Ltd (CCCC) has nearly finalized its proposal for the development of US$1.5 billion (2.4 trillion kyats) worth of initial infrastructure for the controversial “New Yangon City” project across the Yangon River from Myanmar’s commercial capital, according to a government body established to oversee the project. New Yangon Development Company […]
Myanmar’s first dry port opens for business
November 16, 2018 by
KM Terminal & Logistics Ltd (KM) and Resource Group (RG) officially opened two separate dry port projects in Ywar Thar Gyi, Yangon yesterday. A dry port is an inland intermodal terminal directly connected by road or rail. Freight trains will run from Ywar Thargyi to a second dry port in Myit Nge, Mandalay, which KM […]
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