YANGON (Reuters) - Authorities in Myanmar's biggest city have backed down on plans to award a $8 billion (4.81 billion pounds) construction contract to a barely known firm following a public outcry over its transparency in a country notorious for graft and vested interests.
The Yangon region government said on Thursday an open tender would be held for a huge low-cost housing project, one of the biggest of its kind in Myanmar, just days after the city's mayor stunned lawmakers by announcing a deal had been struck in secret with a firm set up only nine months ago.
