Myanmar needs to engage in CNG (compressed natural gas) business in Nay Pyi Taw and other regions in addition to Yangon to seek the way to green energy and green economy in the future, said Union Minister for Electricity and Energy Win Khaing. He said the use of CNG in the transport sector would contribute […]
IMF projects muted growth for 2021 economy
January 26, 2021 by
Myanmar’s economy is expected to post muted growth this year due to the impact of COVID-19, but should rebound next year, the IMF said. In a statement, IMF projected this year’s growth to slow down to 0.5 percent, from a projected 3.2pc last year. “The economic fallout will be felt by lower income groups, SMEs […]
Suu Kyi’s Myanmar election win fails to excite foreign investors
November 24, 2020 by
YANGON — Aung San Suu Kyi’s landslide Myanmar election win this month triggered a frenzy of excitement among her supporters, but it was met with cool shrugs by many foreign governments and investors seeking economic and political reform. On the polling day of Nov. 8, voters lined up from early morning to cast their ballots […]
Govt drafts new recovery, reform plan for Myanmar economy
October 19, 2020 by
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 […]
Govt targets 6% GDP growth in 2020-21
September 17, 2020 by
Parliament has approved the National Planning Law for fiscal 2020-21, under which the Myanmar economy is forecast to grow at a rate of 6 percent. In comparison, the economy was projected to expand by 7pc in fiscal 2019-20 but due to COVID-19 is now expected to have grown by just 4.3pc instead, according to official […]
Yangon to push three large FDI projects to boost economy
September 1, 2020 by
Yangon to push three large FDI projects to boost economy Yangon Region Chief Minister U Phyo Min Thein, who is also chair of the Yangon Investment Committee, has revealed that the regional government is prioritising the implementation of quickly three industrial zones. Speaking at a meeting of the Yangon Investment Committee last week, U Phyo […]
How agritech solutions are shaping Myanmar’s digital economy
June 30, 2020 by
Agritech solutions are at the forefront of Myanmar’s emerging digital economy Apps such as Green Way & Htwet Toe are helping to solve productivity issues in the agriculture sector, where 65% of the Myanmar population works Just five years ago, owning a smartphone in Myanmar would have been an outrageous extravagance, and even then there […]
COVID-19 stalls Myanmar product-label law enforcement
May 21, 2020 by
Authorities are struggling to enforce the use of Myanmar language on the labels of all products on the local market due to the COVID-19 pandemic, a senior Consumer Affairs official said. U Zayar Swe, deputy director of the Consumer Affairs Department, said his agency has yet to conduct any inspections of manufactures for compliance with […]
