Surbana looks for Myanmar investment
Singapore-based Surbana, an awarding-winning international urbanization consultant, has announced further expansion in Myanmar with its involvement in a master plan for the i-Land industrial Park, in Bago Region, just north of Yangon. Gareth Wong, general manager of Surbana’s Myanmar operations, said that i-Land industrial park is a 160-h.a development and it is a significant project that will support the economic growth plans of Bago, according to a report on the Surbana’s website. It has also involved as a lead project manager and design consultant in the develop- ment of the Yangon Aquarium, which is being developed on the site of the Kandawgyi Gardens and is scheduled for completion at the end of 2015. The company has other interests in Polo Club Residences and a residential development in Dagon Seikkan Township.
Full foreign investment is allowed in pharmaceutical production
Private hospitals’ pharmaceutical production can now take place with 100 percent foreign investment. The pharmaceutical industry attracts for- eign investors, especially from Europe and many local pharmaceutical companies have partnered up with South Korean companies to manufac- ture health products in the country. Myanmar Investment Commission says it aims to make investment in a number of industries easier as part of the plans to boost Myanmar’s economy. Investments have risen substantially in sectors such as electricity, commodities and the telecommunica- tions. MIC is particularly focusing on the industries which provide job opportunities for local people for investment approval, according to U Aung Naing Oo, secretary of the Myanmar Investment Commission (MIC).
IFC investment to move up to US$ 1 billion in Myanmar
The International Finance Corporation (IFC), a member of the World Bank, said that its investment in Myanmar is expected to reach US$ 1 billion in the next three years, as it supports the development of the private sector in Myanmar, leading to a growing economy and more job opportunities. Viveik Pathak, IFC’s director for Asia Pacific, said that access to finance and building infrastructure that helps business operations will be keys to the country’s continued growth. The corporation has said it will focus predominately on power, telecommunications and transport sectors, adding that a particular area of interest for the current fiscal year is in supporting Myanmar’s Central Bank to develop at least one credit bureau by June 2016.
Yoma Yangon International Marathon 2015 planned for January
Yoma Strategic Holdings will organize an annual marathon event in cooperation with First Myanmar Investment (FMI) and Yangon City Development Committee (YCDC). Yoma Yangon International Marathon 2015 (YYIM 2015) will be held on 11th January of 2015. About 4,000 participants are expected to take part in this marathon event divided into 42.195 km long full-marathon and 21 km long half-mara- thon routes. Both the routes will start and finish at Thuwanna Indoor Stadium and the city’s iconic landmarks such as the Shwedagon Pa- goda and Inya Lake will be on the full route. It is reported that some of the roads and lanes will be temporarily closed fully or half at certain times on the day for safety reasons. Yoma Yangon International Marathon is annually held marathon event and YYIM 2015 is to support underprivileged children in Myanmar.
