Yangon Expansion - the Dala Bridge

Over the past 18 months central Yangon's property prices have softened, but buying a home remains a distant dream for the majority of Yangonites. As more people flock to the city, power cuts increase, traffic worsens, and demand for housing continues to rise.
 
Yet in Dala, only ten minutes ferry ride from the heart of downtown, little is being developed and property prices remain low. With a USD 138Mn loan from South Korea, the "Korea-Myanmar Friendship Bridge" will build much more than diplomatic ties. Due to open in 2020, the project will have drastic effects on the city's layout and provides a key opportunity for developers looking ahead.

Key Myanmar Statistics

GDP - USD 59.4 Bn
GDP Growth - 8.5%
Population - 51.41Mn
Inflation - 8.39%
Bank Deposit - 8%
Bank Lending - 13%

Weekly Overview

Politics

Visiting Beijing, Myanmar's Aung San Suu Kyi Seeks to Mend Relations

Hillary Clinton considers her a friend. President Obama has invited her to the White House next month. But on her first visit to a major capital since becoming leader of Myanmar, Daw Aung San Suu Kyi chose a different destination: Beijing.

 

Myanmar monsoon floods kill eight, disrupt lives of 400,000

Floods caused by monsoon rains have killed at least eight people and disrupted the lives of 400,000 across Myanmar, the government said, a year since the worst floods in decades left thousands homeless and inundated vast tracts of farmland.

Myanmar remains country of 'grave concern' in US religious freedom report

In its first report since the National League for Democracy took power pledging movement toward greater religious equality, the United States Committee on International Religious Freedom still sees cause for "grave concern" in the country's rights record.

Business & Investment

Electrifying Myanmar's power grids

By 2030, Myanmar is expected to consume around 80,000 gigawatt hours (Gwh) of electricity, more than six times its current consumption of approximately 13,000Gwh. This corresponds to a staggering growth of 14 percent year-on-year.

Korean firms to be invited to build Yangon-Dala bridge

A Tender for private companies to build a multi-million-dollar suspension bridge connecting downtown Yangon with sleepy Dala township will be called "soon", but only for Korean firms, the Ministry of Construction's permanent secretary said.

World Bank offers $100m loan for financial sector development

The World Bank has offered to lend the government US$100 million for financial sector development, with the funding to be split between the Ministry of Planning and Finance and the Central Bank, parliament heard earlier this week

Myanmar joins global payment network

Another step in the effort to better connect Myanmar to the global financial system has been taken, with AYA Bank becoming the first lender to offer bank cards with a stamp from global payment network provider JCB.
 

Ooredoo Myanmar's 4G subs hit 500K

Ooredoo Myanmar, the country's third largest operator, has reached 500,000 4G customers after launching the service in late May in parts of the country's three major cities.

First govt bond auction set for September

A Traditional rainy season slowdown in lending has left banks with plenty of excess liquidity, which bankers say bodes well for appetite at Myanmar's first ever Treasury bond auction next month..