Myanmar’s long-delayed Dawei mega-project experienced yet another setback after contracts with Thailand’s construction giant Italian-Thai Development were canceled recently. The ambitious, but controversial Dawei Special Economic Zone (DSEZ) project seeks to transform the sleepy coastal town into Southeast Asia’s largest industrial and trade zone – covering an area of about 200 square kilometers and incorporating […]
Infrastructure, agriculture sectors at risk of slower investments
February 9, 2021 by
Infrastructure, agriculture sectors at risk of slower investments The infrastructure and agriculture sectors could take a hit as a result of the current state of emergency in Myanmar, which could slow economic growth and investment flows into the country, Fitch Solutions said in a report. The research firm on February 1 downgraded its economic growth […]
No disruptions to Korea-backed industrial park in Yangon
February 9, 2021 by
Work on the Korea-Myanmar Industrial Complex (KMIC) will continue despite the political unrest in the country. KMIC Managing Director Lee Jung Wook said on February 4 that the project might encounter delays but the impact of the ongoing situation has been minimal. “Construction works on the KMIC are still in the early stages, there is […]
Kirin Scraps Joint Venture With Myanmar Military-Owned Firm After Coup
February 9, 2021 by
YANGON — Japanese beverage giant Kirin has decided to cut ties with a Myanmar military-owned conglomerate following the armed forces’ coup and detention of national civilian leaders State Counselor Daw Aung San Suu Kyi and President U Win Myint. Kirin Holdings Co. Ltd. on Friday said it will end its joint-venture partnership with Myanma Economic […]
Myanmar to continue efforts to support economy amid COVID-19
February 9, 2021 by
To mitigate the negative socio-economic impact of COVID-19 on livelihoods in Myanmar, the newly formed government under the Tatmadaw (military) will prioritise support for the agriculture industry, which employs around 70 percent of the country’s population, Minister for Foreign Affairs U Wunna Maung Lwin and Minister for International Cooperation U Ko Ko Hlaing told ambassadors […]
70 percent of tourism, hospitality workers suffer redundancy in Myanmar amid COVID-19
February 9, 2021 by
YANGON, Jan. 29 (Xinhua) — About 70 percent of workers in Myanmar’s tourism and hospitality sectors suffered redundancy due to the COVID-19 pandemic, head of the Union of Myanmar Travel Association (UMTA) Naung Naung Han said on Friday. “The pandemic halted tourism and hospitality industry, causing decline in tourism-related earnings from businesses including hotels, restaurants, […]
Myanmar affirms continuation of projects, resumption of business amid COVID-19
February 9, 2021 by
The newly formed State Administration Council met with members of Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) earlier this week, according to state media. During the meeting, Commander-in-Chief of Defence Services Senior General Min Aung Hlaing, who chairs the council, told businesses from the agriculture, livestock, construction, trade and manufacturing sectors […]
Invitation for open tender – Myanma Railway ; Deadline : 3rd March 2021
February 5, 2021 by
MINISTRY OF TRANSPORT AND COMMUNICATIONS MYANMA RAILWAYS INVITATION TO OPEN TENDER 1. Open Tender is invited for supply of the following item in Euro: Sr. No. Tender No. Description 1. 12(T)26/MR(ISN) Euro/2020-2021 Spare Parts for CAT Engine, Alco Engine, DPMS (63 Items) 2. Tender documents are available at our office starting from 4.2.2021 during office […]
Myanmar to export honey to EU this year
February 5, 2021 by
Arrangements are being made to export Myanmar honey to the EU market, said U Aung Khaing Htwe, chair of the Myanmar Apiculture Association. “We are still making arrangements to export honey to the EU. I think we can export by the end of this year. We have completed 50 percent of the operations,” he said. […]
Chinese energy firms assess changes as Myanmar upheaval has a mixed impact
February 5, 2021 by
The political upheaval in Myanmar that is sowing uncertainty for the future of the Southeast Asian economy may have a mixed impact on local operations of Chinese energy companies, which have acted swiftly in response to the changing situation, several sources told the Global Times. The Myanmar President’s Office declared a one-year state of emergency […]
