Better oil and gas deals needed in the future, say experts

Efforts must be taken to lessen Myanma Oil and Gas Enterprise’s (MOGE) tax burden from contracts signed with joint-venture firms to work offshore oil and gas fields, a report states. According to the “State-Owned Economic Enterprise Reform in Myanmar: The Case of Natural Resource Enterprises” report by the Natural Resource Governance Institute (NRGI) and Renaissance […]

Myanmar, Japan-involved consortium to build high structure in Yangon

YANGON, Oct. 7 (Xinhua) — Myanmar Pharmaceutical Industrial Enterprise (MPIE) and a consortium of two local Myanmar companies and a Japanese company on Saturday signed an agreement to build a high-rise structure on the land owned by MPIE in Tamway, Yangon, the official Global New Light of Myanmar reported Sunday. The consortium, named NSKRE Residence […]

Yangon-Mandalay highway renovation project receives 20 tender proposals

The project to widen the Yangon-Mandalay expressway from four lanes to eight has received only 20 tender proposals, according to the Ministry of Construction. Altogether, 160 application forms were released to both local and foreign companies from Japan, South Korea, Singapore and China, but only 20 companies were expressed interest in the project by the […]

Investment in hospitality sector soars

As of October 2014, there are 1,076 hotels throughout Myanmar, and two-thirds of them are in Yangon, Mandalay and Shan State, according to Ministry of Hotels and Tourism. Mandalay Region has the largest share with 329 hotels, followed by Yangon with 279 and Shan State, 200. Types of hotels in Myanmar vary. Some are funded […]

Height limits imposed in Dagon City

Plans for a large US$300 million mixed used project near U Htaung Bo Roundabout in Yangon were promoted last week, though government officials say they will keep an eye on its proposed high-rise structures to see if they contravene zoning plans. The Dagon City 1 project is set to include a five-star hotel, office and […]

Seven firms face fines if ‘Death Highway’ is not repaired on schedule

The seven companies hired to upgrade Myanmar’s notorious “death highway” will be fined if they do not complete their work on schedule, Soe Tint, deputy minister of construction told Parliament yesterday. The deputy minister also admitted he had seen no evidence that any of the companies, which include some of Myanmar’s largest conglomerates, had started […]