A Divisive bill that could open Myanmar’s lucrative mining sector further to foreign investment has been submitted for the third time to the Pyidaungsu Hluttaw for approval.
Local conglomerate Shwe Taung Group of Companies plans to build Myanmar’s first pedestrian underpass, to cross Pyay Road outside the company’s Junction Square shopping centre.
After at least 113 jade miners were killed in a landslide in Hpakant, the mining ministry says it has no plans to help improve safety in the dangerous area, while an official from the environmental ministry suggests companies may have been operating against the law.
Foreign direct investment has fallen during the first seven months of this financial year to US$3.7 billion from $3.9 billion over the same period last year, said the Directorate of Investment and Company Administration (DICA) in a statement.
Fire safety officials are intensifying their inspection regime following two high-profile fires in Yangon. The city fire department says it performs checks at big shopping centres and supermarkets at least every six months.
The investors behind a new bus rapid transport system in Yangon have reportedly raised enough money to begin the project, having sold just a fraction of the shares intended to be sold to the public.
Yangon's industrial zones have been left largely to fend for themselves while the government focuses instead on trophy projects such as a new special economic zone at Thilawa, says U Myat Thin Aung, chair of Hlaing Tharyar industrial zone.