Once bitten, twice shy. Investors and speculators who once pushed property prices sky-high on rumours of major developments have greeted the announcement of three new bridges and possibly a tunnel with deafening silence, industry observers say.
Myanmar's foreign trade could reach US$30 billion in the current 2015-16 fiscal year, representing an 8 percent increase over the year just ended, according to U Maung Aung, a consultant to the Ministry of Commerce.
Singapore-based Sembcorp Industries has been awarded a contract to develop and operate Myanmar’s biggest gas-fired power station, it was announced last week. The 225-megawatt plant will be built in Myingyan, Mandalay Region, the company said.
More than 100,000 of the poorest farmers with limited access to water stand to benefit from a World Bank decision last week to approve a US$100 million credit to the government to help increase productivity and create jobs by making agriculture more resilient to drought and climate change.
Myanmar's electricity demand is constantly increasing and 7.2 million new household electricity connections will be required by 2030, according to analysts speaking yesterday at the Myanmar Power Utilities Congress 2015 in Yangon.
The government is to issue a formal warning to “illegal” online futures trading companies to stop trading once offices reopen at the end of the Myanmar new year holidays today, according to U Maung Maung Thein, deputy minister for finance.