No disruptions to Korea-backed industrial park in Yangon

Work on the Korea-Myanmar Industrial Complex (KMIC) will continue despite the political unrest in the country. KMIC Managing Director Lee Jung Wook said on February 4 that the project might encounter delays but the impact of the ongoing situation has been minimal. “Construction works on the KMIC are still in the early stages, there is […]

Business as usual at Suzuki facility in Yangon

The Suzuki company in Thilawa Special Economic Zone is operating as usual despite rumors circulating on February 2 that the automotive factory had shut down. Social media posts stating that the car manufacturer had ceased operations amid political unrest in the country went viral but a representative from the Thilawa Special Economic Zone (SEZ) Management […]

Shwe Taung wins tender for three solar power project in Myanmar

Shwe Taung Group has won three out of 30 ground-mounted solar power tenders called by the Ministry of Electricity and Energy (MOEE) in Myanmar. The company said it is the only Myanmar group to win three projects as the lead developer and majority shareholder. The three solar power plants, in Aungchanthar, Nyaungpingyi, and Ohntaw, have […]

Short trips near Yangon gains popularity

Tourism companies are now offering more one-day trips near Yangon, in line with their increasing popularity. “These trips are trending in Yangon. In the past, biking and hiking trips were only sold in rural areas. Now there are more (packages for short trips) and all the places are booked,” said IJM Travel &Your’s founder Daw […]

COVID-19 second wave drives Myanmar business closures to new record

A record number of businesses in Myanmar were shut amid an ongoing second wave of the coronavirus pandemic as lockdown orders since September hit swathes of the economy, according to an Asia Foundation survey published this week. The Foundation interviewed 750 local businesses in different parts of Myanmar between late September and early October, as […]

Yoma Land to develop suburban offices, more apartments in Yangon

MYANMAR-FOCUSED conglomerate Yoma Strategic Holdings’ real estate arm, Yoma Land, plans to develop its first suburban commercial property at StarCity, and a second residential project under the City Loft brand in another part of Yangon. The City Loft brand was first launched in November 2018 at StarCity, one of Yoma Land’s flagship developments in the […]

Invitation for open tender – Export Marketing & Milling Department Yangon & Ex-Site Teak/Hardwood ; Deadline :29th December 2020

Myanma Timber Enterprise Export Marketing & Milling Department Invitation For Open Tender 1. Myanma Timber Enterprise will sell teak & hardwood round logs and sawn timber by online system December open tenders in us dollars. Particulars of the open tender sales are as follows: (A) Date & Time – (4-12-2020) (09:00) A.M – (Export Marketing […]

Colliers Property Report – Yangon serviced apartment supply Q3 2020

Summary & Recommendations As of Q3 2020, Yangon’s serviced apartment market witnessed a decline in demand albeit modestly compared to the level a year ago.The overall performance,in fact,appeared more resilient than expected especially in comparison to their hotel counterparts.Moving froward,Colliers sees serviced apartment likely to fare better given its self-contained environment and more personalized offerings […]

Myanmar’s Ruling Party Vows to Improve Quality of Cabinet Appointments in New Govt

YANGON—The National League for Democracy (NLD) government will make reforms to the union, state and regional cabinets before the new administration takes office in late March next year, in an apparent attempt to fix the problem of “not putting the right person in the right place” that beset the government during its first term. The […]

Online sales boom amid COVID-19: e-commerce body

Many businesses have moved online and sales using digital platforms have doubled since the coronavirus outbreak, according to Myanmar’s e-commerce industry body.U Aye Chan, E-Commerce Association of Myanmar chair, said retail stores have been hit by COVID-19 and lockdown restrictions but on line shopping has boomed in the same period. The World Bank’s latest firm-level […]