doing business in myanmar – what you need to know as a singaporean
Yangon – The two companies who succeeded in a tender to install CCTV cameras at 154 traffic lights in Yangon are still facing delays in completing the projected six-month project, which is now nearly one year old.
The tender to install CCTV cameras at 154 traffic lights as well as construct a traffic control centre was invited by the former government.
China’s CRCC and Myanmar’s Shwe Yin companies won the tender under a joint-ventured contract.
Although the tender winners were instructed by Yangon regional government to complete the installation within six months of a February 2016 start, the project remains incomplete after one year and four months.
The companies have been paying 100,000 kyat to the regional government daily as a fine for their failure to complete the city’s traffic control projects on time.
A local news journal issued on December 14 reported that the CRCC had deserted the project but an official from the control centre denied that claim on December 14.
“It is not true,” he said. “The project is still underway.”
The previous government provided 20-billion kyat from a special reserve fund to install the CCTV cameras and build the traffic control centre. The join venture has received 18.93-billion kyat of the 20-billion kyat.
Source: Eleven Myanmar
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