Now that the new Yangon Bus Service is underway, the regional government is turning its attention to the city’s taxis, and is hoping to have a system of licensed cabs to run side-by-side with Uber drivers, according to chief minister U Phyo Min Thein.
CB Bank and KBZ have both partnered with Visa following the Central Bank’s decision to allow foreign payment firms to operate independently in Myanmar. But the Central Bank has clarified that this is a select response to requests from four specific firms, not an official shift in policy.
The government is planning to drastically reduce the taxes it levies when people purchase state-commissioned low-cost housing, which developers say puts many units out of reach for ordinary buyers.
The Yebu border trade inspection gate on the Lashio-Muse road has reopened for the first time in over five years as the government tries to honour a commitment to ending illegal trade. But inspecting hundreds of vehicles at a single small gate has resulted in serious traffic problems, say traders and local trade bodies.
Singaporean energy firm Sembcorp signed a build-operate-transfer (BOT) agreement with Myanmar’s energy ministry yesterday for the Myingyan power plant, a high profile energy project expected to receive loans from a variety of international lenders.
The new Yangon Bus Service’s (YBS) second day went better than the first with 80 percent of buses properly labeled and on the roads, according to transport officials. But Yangon Chief Minister U Phyo Min Thein, who enjoyed a ceremonial ride on the new system, said there was still too much variation in how fares are collected.