Myanmar’s competition watchdog says it does not intend to challenge the government’s controversial solar plant tender despite protests by foreign governments and business associations that conditions imposed during the COVID-19 pandemic effectively excluded many outside bidders. Responding to questions from the Myanmar Times, the Competition Commission said the solar tender requirements set by the..
A total of 450,000 people in rural Myanmar can expect to receive access to electricity following an agreement between the government and World Bank. The two parties have agreed to channel US$3.5 million in funds towards generating solar energy in off-grid areas of the country. “Getting electricity with solar technology in off-grid areas is important..
Construction business are calling for an easing of regulations and tax reductions over financial assistance to help them keep afloat in the wake of COVID-19. During a recent meeting between the construction sector and State Counsellor Daw Aung San Suu Kyi, U Shein Win, president of the Myanmar Construction Entrepreneurs Association (MCEA), said there are..
Investor interest in farmland around Dala township, Yangon, is rising on the back of speculation that the government will redevelop the land as part of plan to urbanise the township and compensate for giving up their property, local brokers said. “These lands are expected to be broken to be taken by the government for..
The Myanmar government has signed two power purchase agreements (PPA) to buy electricity from two liquefied natural gas (LNG) plants totaling 580 megawatts. The project company of CNTIC VPower Group inked two five-year PPAs with the Ministry of Electricity and Energy’s Electric Power Generation Enterprise (EPGE) on JUne 26 for the plants in Thanlyin,..
As investment interest in the Dala New City Project has intensified, so too the price of farmland in the area has risen sharply, said News City Real Estate MD Ko Htun Lin Kyaw. “As the farmlands will be taken over by the New City Project, we’ve seen an increase in farmland investments. This regional farmland..
The World Bank’s Board of Executive Directors has approved a $350 million credit from the International Development Association (IDA) to increase the output and efficiency of power generation and improve the resilience of Myanmar’s electricity system to climate change and disasters, according to a press release. The Board also approved $110 million in additional financing..
The government will deploy its seventh tranche of COVID-19 loans, this time to about 300 business affected by the pandemic, in the first week of July. Construction businesses are likely to be considered for next loan tranche from the K200 billion to K500 billion pool under the government’s COVID-19 Economic Response Plan released on April..
The country’s construction industry is ready to provide jobs for returning migrant workers who have the required experience, an official of a local contractors’ association said. U Shein Win, chair of the Myanmar Construction Entrepreneurs Federation, said members of the group have job vacancies at construction sites for workers returning from foreign countries due to..
The Ministry of Electricity and Energy (MOEE) is making plans to build new oil refineries in Myanmar to meet domestic oil demand and boost energy security in the country, said U Tin Maung Oo, Permanent Secretary of the MOEE. The new refinery projects will be implemented with the private sector under Public Private Partnership schemes,..