Myanmar has approved the development of an Integrated Domestic Gas to Power Project involving US$2 billion in investments in Kyaiklat, Ayeyarwady Region. The Ministry of Electricity and Energy granted a Notice to Proceed to Thai national oil company PTTEP for the 592-megawatt project, which will be carried out under a 20-year Build, Operate and Transfer..
Construction of an expressway connecting the city of Bago and Kyeik Hto township in Mon State is expected to start in fiscal 2022-23, U Aung Myint Oo, Director General of Department of Highways under the Ministry of Construction, told the Myanmar Times. This comes after the Asian Development Bank (ADB) last week approved a US$483.8..
Some small and medium-sized enterprises (SME) have started suffering from the effects of coronavirus outbreak, business owners say. “It has already affected the country’s economy very much. Especially, hotels. As they have lost customers, they have no money to pay for their employees’ salaries. Restaurants and shops are facing difficulties also. Many SME businesses..
U Thaung Tun, Union Minister for Investment and Foreign Economic Relations (MIFER) and Chair of Working Committee to Address the Possible Impacts of COVID-19 on the Country’s Economy had separately met with Gevorg Sargsyan, Acting Country Director of the World Bank Myanmar and Newin Sinsiri, Asian Development Bank (ADB) Country Director, March 23, Nay Pyi..
The International Development Association (IDA), which is a part of the World Bank, will lend US$100million (K140.1 trillion to Myanmar to promote the basic education sector, the World Bank announced on March 3. According to the World Bank, Myanmar will use the funding for a plan to promote inclusive access to quality education over..
The Ministry of Electricity and Energy (MOEE) has signed an agreement to purchase electricity generated by the 135 MW gas-fired Kyaukphyu Power Plant that will be built by independent power producer Kyauk Phyu Electric Power Co. According to a statement from the MOEE, the power purchase agreement (PPA) was signed last Tuesday. Kyauk Phyu Electric..