Myanmar maps out recovery and reform

The Myanmar government is putting the finishing touches on an ambitious new economic recovery and reform plan. To be announced during the current transition period following the Nov 8 elections, it will be part of the strategic plan for the next five years. The “recovery and reform roadmap” will guide the formation of economic policies […]

New Myanmar economic recovery and reform plan to include agriculture improvements

The government is drafting plans to reform the agriculture sector in line with the Myanmar Economic Recovery and Reform Plan (MERRP), which is now being drafted, according to the Ministry of Agriculture, Livestock and Irrigation (MOALI) in a November 18 statement.While the plan has yet to be finalised and made official, MOALI understands it includes […]

Govt drafts new recovery, reform plan for Myanmar economy

The government is drafting a new Myanmar Economic Recovery and Reform Plan (MERRP) after a recent review of the COVID – 19 Economic Relief Plan (CERP), which was rolled out on April 27, U Thaung Tun, Minister of Investment and Economic Relations, said at during webinar organised by AusCham Myanmar last week. “We know that […]

Myanmar sharpens focus on helping local MSMEs amid COVID-19

Owners of local Micro, Small and Medium Enterprises (MSMEs) have voiced satisfaction over the government’s interest in the sector after U Ye Min Oo, Yangon Minister for Planning and Finance and Chair of the Region MSME Development Agency, met with local MSME owners on July 28. “This is the first time our association has met […]

EU States Suspend US$100 M of Myanmar’s Debt Payments During COVID-19

Six European Union states have deferred debt payments from Myanmar worth nearly US$100 million for the rest of this year to help the country’s efforts to focus on economic recovery from the COVID-19 pandemic. On Wednesday, the ambassadors of the European Union, France, Germany, the Netherlands, Finland, Austria and Poland announced that the EU has […]

Govt provides case assistance to low-income families via mobile payment

The government will provide case assistance to more than five million the grass-root households as the 2nd aid scheme and has started providing a cash assistance of Ks-20,000 each to the households in Pobba Thiri, Meiktila and Kalaw via mobile payment, said U Zaw Htay, Spokesperson of President Office at a press conference at the […]

Japan to Provide US$46 M Emergency Loan to Small Businesses in Myanmar

YANGON—The Japan International Cooperation Agency (JICA) has announced emergency loans worth 5 billion yen (US$46.5 million) to assist businesses in Myanmar hit by the coronavirus pandemic as part of its plan to help the country mitigate the impacts of COVID-19. On Monday, JICA said the loans will be low-interest and will support small and medium-sized […]

Govt commits to developing secure ecosystem for e-commerce in Myanmar

As COVID-19 continues to disrupt the traditional workings of the Myanmar economy, e-commerce is expected to be a key driver of growth for the country post-pandemic, said U Aung Htoo, deputy minister of Commerce, during a virtual conference held on May 28. The Ministry of Commerce (MOC) will release an overview of a plan to […]

Govt to create agri and rural jobs to support farmers under CERP

Jobs in agriculture and construction will be made available to the unemployed under the COVID-19 Economic Relief Plan (CERP), the Ministry of Agriculture, Livestock and Irrigation (MoALI) announced on May 13. “Jobs will be provided by the Agriculture, Irrigation and Rural Development Department under a Cash for Work program for the grassroots to earn some […]

China Pushes BRI Projects As Myanmar Rolls Out COVID-19 Economic Relief Plan

YANGON—China’s ambassador to Myanmar pushed on Wednesday to gear up for the implementation of Beijing’s key infrastructure projects in Myanmar despite the fact that both countries’ economies are facing a significant slowdown due to the effects of the COVID-19 pandemic. Chinese Ambassador to Myanmar Chen Hai and Myanmar’s Deputy Minister for Planning, Finance and Industry […]