The Yangon Region government is planning to establish reservoirs to ensure a reliable drinking water supply in the future. In response to a question at the Yangon Region parliament yesterday, U Maung Maung Soe, the Yangon Region Development Affairs Minister, said the government unveiled a long-term plan to supply drinking water to Yangon residents in […]
Myanmar Automated Cargo Clearance System to be installed in Thilawa SEZ in November
June 2, 2016 by
Myanmar’s Customs Department will install the new Myanmar Automated Cargo Clearance System (MACCS) at airports, port terminals and at the Thilawa Special Economic Zone in November this year, it has been learned. Plans are also underway to install the MACCS at cross-border areas after his new programme is successfully implemented within Yangon Region. With the […]
Commerce Ministry to launch fully online licensing system next month
June 2, 2016 by
AS part of its 100-day plan, the commerce ministry will launch a fully online licensing system in June, according to an official from the ministry at a meeting to boost awareness about the system in Yangon yesterday. “The online licensing system aims to save time for the applicants and is scheduled to be launched next […]
Myanmar aims to attract $140 billion in FDI until 2030
May 4, 2016 by
Myanmar has set its sights on attracting US$140 billion (Bt4.9 trillion) in foreign direct investment (FDI) from now until 2030, according to a national economic development plan. From 1988 until March 30, which marked the end of the 2015-16 fiscal year, Myanmar had granted permits for foreign investments worth $63.7 billion. The national development plan, […]
Rice bosses bemoan lack of investment
May 4, 2016 by
Myanmar’s agriculture sector faces development challenges and it received no significant inflows of foreign investment in the past five years, according to the Myanmar Rice Federation. The Directorate of Investments and Company Administration said agricultural foreign direct investment (FDI) was US$7.2 million during the 2015-16 fiscal year. The sector received US$138.8 million in 2010-11 and […]
New rules planned for government tenders
May 4, 2016 by
Subscribe to our tender alert mailing list The new rules will govern tender practices for this financial year, said U Saw Hla Tun, a member of the committee. Existing rules relating to contracts awarded by ministries have not been widely followed, he said, resulting in a lack of transparency in government-led projects. In 2013 the […]
Myanmar offshore exploration continues despite low oil prices
May 4, 2016 by
Myanmar authorities announced the latest offshore activities last week through state-run newspapers. International companies have now started surveys at almost half of all blocks awarded in the 2013 bidding round. Meanwhile, production remains steady at Myanmar’s existing offshore gas fields – Yadana, Yetagun, Shwe and Zawtika – officials said. France’s Total E&P Myanmar launched 2D […]
Employment rises throughout U Thein Sein administration
April 6, 2016 by
The five-year term in office of President U Thein Sein saw an increase in foreign investment into Myanmar, with a 67.85 per cent increase in employment opportunities, according to a statement released by the Myanmar Investment Commission on 30 March. During the 2011-12 fiscal year, there was an increase of 6,804 employees working for foreign […]
Loi Hein ramps up real-estate ventures
April 6, 2016 by
Drinks manufacturer Loi Hein Company has shelved plans to list on Yangon’s stock exchange, but a series of potential foreign joint ventures means the firm should have no difficulty growing, CEO Sai Sam Htun told The Myanmar Times. At one stage he intended to take the company public when its annual revenue hit US$100m. He […]
