Yangon landlords will face penalties if they rent rooms or apartments to foreigners holding a tourist visa, U Zaw Aye Maung, the military-appointed region minister for immigration, told The Myanmar Times.
The United Kingdom’s development arm announced a £25 million (US$32.5 million) aid program yesterday geared toward making it easier to do business in Myanmar and boosting growth in key sectors of the economy, like agriculture and garment manufacturing.
Myanmar’s leading garment industry body has been buoyed by the lifting of sanctions it hopes will see a return to the glory days for the sector, when in the early 2000s a majority of country’s garments were shipped to the US.
Shop owners relocated following the fire at Yangon’s Mingalar Market continue to face rent hikes in their temporary market space, while some business have been forced to close due to the higher costs, shopkeepers said yesterday.
The French Myanmar Chamber of Commerce and Industry is taking a delegation of local firms to France next month, and is planning to a hold a French fair in Yangon later this year as part of efforts to boost trade relations between the two nations.
The government is planning to open Myanmar’s struggling insurance industry to foreign firms early next year and free local players from an array of restrictions – part of a coordinated push to speed up liberalisation in a sector crucial to economic development, a senior government official told The Myanmar Times.
The Yangon Region government will call a tender before the end of this month for private companies interested in providing river transport services, U Maung Aung, secretary of the Yangon Region Transport Authority (YRTA), said.
The Ministry of Electricity and Energy will announce the winners of a tender to build a 300-megawatt power plant in Yangon next week, ministry officials said.
The Yangon Supervisory Committee for Motor Vehicles says it intends to issue a warning to bus companies against overcharging after receiving a number of customer complaints of fare-gouging among private operators.