Following a move to find investors for the privatization of international airports in Myanmar, the floor will be opened up to companies who wish to be involved in domestic airport development, according to the Department of Civil Aviation.
Yangon (AFP) - A Singaporean-led group has won a $1.4 billion (K1.4 trillion) bid to build a second international airport in Myanmar's commercial hub Yangon, authorities said October 29, as the country gears up for a dramatic increase in foreign arrivals.
In what is being heralded as one of the biggest foreign company acquisitions in Myanmar, Colgate-Palmolive has stepped in to snap up Laser Brand Toothpaste for a rumoured US$100 million, according to a media report.
The Myanmar Investment Commission will be transformed to function as an independent body after amalgamating the country’s two investment laws, the commission’s secretary U Aung Naing Oo told Mizzima on October 23.
The Ministry of Information has signed new contracts with Sky Net, Forever and FM radio companies to earn income from them over time, U Myint Htwe, deputy director-general of the Ministry of Information told Mizzima on October 24.
|The foyer of the Hilton Nay Pyi Taw Photo : www3.hilton.com|
Hilton Worldwide became the first American hotel chain to operate in Myanmar since the easing of US sanctions, when it held the official opening of the Hilton Nay Pyi Taw on October 17.