K3 trillion more expected from higher power tariffs

The government is expected to collect K3 trillion more from the electricity generation in fiscal 2019-2020 compared to the previous year now that power tariffs have been raised since July, Deputy Minister of Planning and Finance U Maung Maung Win said in the Pyidaungsu Hluttaw (Assembly of the Union) on Wednesday.   He added that..
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Malaysian investors attracted to Myanmar despite rift over Rakhine

Investors from Malaysia say they are attracted to Myanmar’s agriculture and other industries despite the rift between the two governments since the northern Rakhine crisis.   “Malaysian businesses are keen to invest in sectors such as technology, construction, manufacturing, and service in Myanmar. They showed extra interest in agriculture-based businesses,” said Gilbert Lee, president of..
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Chinese firm in talks to develop industrial zone

A Chinese firm is the latest foreign investor to express an interest to develop an industrial zone in Hlaing Thayar township in the commercial capital of Yangon, where land nearer to downtown townships have become scarcer in recent years.   Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) chair U Zaw Min..
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Italians invest US$3.2million in Kawthoung hotel

Kawthoung. Photo - Ministry of Information   An Italian company has been granted permission to develop a hotel project worth US$3.2million in Tanintharyi Region’s Kawthoung district, according to the Directorate of Investment and Company Administration (DICA).   The move will be carried out under a joint venture – Myanmar Green Century – with a local company,..
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Myanmar woos Thai investors in Bangkok

U Thaung Tun, Minister of Investment and Foreign Economic Relations. Photo - Supplied   Myanmar is participating in regional connectivity initiatives in efforts to improve bilateral ties with its neighbours and promote investment and trade.   Myanmar has implemented a number of significant reforms in the economic, political and social spheres aimed at creating new..
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Route of new Muse-Mandalay express railroad selected

Photo - EPA   The route has been finalised for the Muse-Mandalay high-speed railway line to be built by Myanmar and China, according to Myanma Railways.   The project is part of Myanmar’s cooperation in the China-Myanmar Economic Corridor (CMEC). The railway will begin near Myitnge in Amarapura township in Mandalay, and will pass through 11..
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