NAYPYITAW — Planning and Finance Minister U Kyaw Win has submitted his resignation to the president amid reports that he is being investigated by the Anti-Corruption Commission and the Bureau of Special Investigation (BSI), sources close to the matter told The Irrawaddy. Since last week, news reports have circulated alleging that the minister and his […]
Myanmar’s Planning and Finance Minister Submits Resignation
June 2, 2018 by Thiha
Filed Under: Latest News Tagged With: administrator, Anti-Corruption Commission, Anti-Corruption Law, BSI, Bureau of Special Investigation, chairman, Deputy Director, Deputy Planning and Finance Minister, Dr Than Htut, Food and Drug Administration director general, Home Affairs Ministry, Management Committee, National Economic Coordination Committee member, National League for Democracy, Naypyitaw, planning and finance minister, Planning and Finance Ministry’s permanent secretary, Pyin Oo Lwin Township, Renaissance Institute, The Irrawaddy, Thilawa Special Economic Zone, U Kyaw Win, U Kyaw Win’s place, U Myo Myint, U Set Aung, U Tun Tun Naing
Construction sector under threat from high tax, interest rates
January 31, 2018 by Thiha
Unreasonably high tax and interest rates could lead to the collapse of Mandalay’s already ailing construction sector, U Shein Win, vice chair of the Myanmar Construction Entrepreneur Association (MCEA) told The Myanmar Times last Friday. Capital gains tax on the sale of a property in Myanmar is currently 30 percent, which is deterring activity in […]
Filed Under: Latest News Tagged With: bank loans, Central Bank of Myanmar, chair of the Young Developer Association, Condominium Rules, Construction Sector, Financial Statements, high tax, Interest Rates, MCEA, Ministry of Planning and Finance, Myanmar Construction Entrepreneur Association, Parliament, Parliament session, property, real estate, tax revenues, U Myo Myint, U Shein Win, Union-level discussions, wages, working capital
Centralising Taxi Operations to Ease Congestion
June 24, 2017 by thiha
The Yangon Region government would be implementing a new scheme under which taxis would be managed by taxi service operators, said Daw Nilar Kyaw, regional minister of electricity, industry and transportation, in a bid to ease traffic congestion in the country’s commercial capital. The minister said there were 80,000 taxis running on the road all […]
Filed Under: Latest News Tagged With: Daw Nilar Kyaw, Grab, hello cab, industry, North Dagon township, Oway Ride, Regional Minister of Electricity, The Yangon Region government, Traffic Control Centre, transportation, U Myo Myint, Uber
No Easy Way to Improve Myanmar’s Economy, Experts Say
June 22, 2017 by thiha
NAYPYITAW — The National League for Democracy (NLD)’s economic advisor U Myo Myint blamed a legacy of inept bureaucracy, deep-rooted corruption, military control, and a lack of cooperation among ministries for his party’s poor economic performance. “The lack of cooperation is a big challenge. As there is no cooperation between the government departments, [the NLD] […]
Filed Under: Latest News Tagged With: Col Aung Myint Oo, Economist U Thein Swe, Myanmar Democratic Transition Forum in Naypyitaw, Naypyitaw, NLD, The National League for Democracy, U Lay Nyunt, U Myo Myint
Construction and Real Estate Sectors Pin 2017 Hopes on New Legislation
December 30, 2016 by thiha
The construction sector will be glad to see the back of 2016 – a year in which a political transition, a high-rise review and a volatile currency conspired to leave many developers battered and bitter. But there were also signs of a fragile recovery in the real estate market, and new laws set to […]
Filed Under: Latest News Tagged With: Ayeyarwon, CEO of MKT Construction., Daw Aung San Suu Kyi, Development Party Government, Director of Myat Min Construction, Housing Development Department, Housing Development Department Director General U Min Htein, Ministry of Construction Urban, Myanmar Construction Entrepreneurs Association, Myanmar kyat, National League for Democracy, NLD, Sai Khon Naung Real Estate Agency Chair U Sai Khon Naung, The Myanmar Times, U Kyaw Kyaw Soe, U Myat Min, U Myo Myint, U Sai Thet Naing Moe, U Yan Aung, Union Solidarity, Urban, Yadanar, Yangon, Yangon City Development Committee
Analysts Say 2016 is the Worst Year for Rangoon Construction Sector
December 9, 2016 by thiha
RANGOON — Rangoon’s construction market faced its hardest year in 2016, as a result of changing government policies during a market cooldown, say critical industry observers. During the best development years, 2005 to 2014, high-end condominiums and low-cost apartments sprung up around Rangoon, construction and real estate observers said. As the market neared its […]
Filed Under: Latest News Tagged With: Bahan, Botahtaung Townships, chief minister U Phyo Min Thein, construction market, Dagon, Daw Moe Moe Aung, Kamayut, Kyauktada, Lanmadaw, Latha, Mayangone, Myanmar Real Estate Services Association, Nay Kabar Construction, Pabedan, Pazundaung, Rangoon, Sanchaung, Tamwe, U Kyi Lwin of the Myanmar Engineering Society, U Myo Myint, U Thant Sin Hein, Yankin
New car imports on hold until public transport system improved: YRTA
September 7, 2016 by thiha
People hoping to have the ban on new car imports to Yangon lifted will have to wait until improvements have been made in public transport, an official from the YRTA has confirmed. New car imports for personal use were suspended in April when the government told township officials to stop issuing recommendation letters, which recognise […]
Filed Under: Latest News Tagged With: COE, singapore, U Maung Aung, U Myo Myint, Yangon Region Transport Authority, YRTA
YCDC drafts new rules for building permits
August 11, 2016 by thiha
Yangon City Development Committee has finished amending its building permit regulations, its secretary said yesterday, after completing a divisive review of high-rise projects across the city that saw rule-breaking developers told to amend their designs. The new regulations have already been shared with industry association and will be made public once they have been approved by the Yangon […]
Filed Under: Latest News Tagged With: AMA, Association of Myanmar Architects, building, Daw Hlaing Maw Oo, Department of Engineering, MCEA, Myanmar Construction Entrepreneurs Association, Myanmar Engineering Society, U Myo Myint, U San Oo, Yangon City Development Committee, Yangon Region Government, YCDC law
Yangon authorities appear to backtrack over high-rise review
August 4, 2016 by thiha
Yangon city authorities appear to have come down on the side of angry developers in the row over the suspension of 222 projects either under construction or at the planning stage. Following a city-wide review of project designs, the suspension was ordered because the buildings reportedly violated draft zoning regulations. However, the draft in question has yet […]
Filed Under: Latest News Tagged With: Daw Nilar Kyaw, Daw Sandar Min, Economic Committee, finance, Kabar Aye Executive Residence, KER, MKT Construction, Mya Kan Thar, Planning, Region Parliament, The Myanmar Times, U Kyaw Yin, U Maung Maung Soe, U Myo Myint, U Ye Min Oo, Yangon
Yangon high-rise review will cause bankruptcies, developers say
July 25, 2016 by thiha
Twelve developers ordered by the government to reduce the scale of their high-rise residential projects in Yangon said yesterday that the review – which includes a total of 185 projects – could cause up to US$6 billion in losses and force many companies out of business. The developers held a joint press conference in Yangon […]
Filed Under: Latest News Tagged With: MKT Construction, The Myanmar Times, Twelve Developers, U Myo Myint, U Ye Min Oo, Yangon
