The second wave of the COVID-19 pandemic will delay the recovery of the Myanmar economy, leading to the growth of just 1.7 percent in fiscal 2019-20, according to the World Bank’s Myanmar Economic Monitor 2020 released December 16. This is down from growth of 6.8pc in fiscal 2018-19, mainly due to a contraction in manufacturing […]
Myanmar’s recovery waylaid by second wave, but rebound expected later: World Bank
December 21, 2020 by
RCEP trade deal: Will Myanmar really benefit?
December 21, 2020 by
Existing free trade agreements and longstanding non-trade barriers could limit the RCEP’s impact on Myanmar, but the country may benefit from increased investment due to improved access to global value chains. By MYAT MYAT MON and BERNARD MINN | FRONTIER The signing of the Regional Comprehensive Economic Partnership on November 15 made headlines across the […]
ADB approves loan to fund new Myanmar expressway
November 3, 2020 by
The Asian Development Bank (ADB) has approved a US$483.8 million loan to build a 64-km expressway connecting the capital of Bago region and the township of Kyaikto in Mon state in Myanmar. The move supports the Myanmar government’s aim to increase investment in transport infrastructure to 3 percent of GDP by 2030, up from an […]
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 […]
Myanmar economy still forecast to grow despite global recession: IMF
April 27, 2020 by
Myanmar is among just 10 percent of the globe projected by the International Monetary Fund to post economic growth this year. The rest of the world is expected to slip into recession. The forecast comes despite the spread of COVID-19 in Myanmar, which has already resulted in the closing of its borders, worsening conflict in […]
Companies to receive COVID-19 loans, but discrepancies hamper number of approvals
April 24, 2020 by
The government has approved COVID-19 loans for 88 businesses at an interest rate of 1 percent, according to the Union of Myanmar Chamber of Commerce and Industry (UMFCCI). But the UMFCCI received more than 1600 applications for the loan on the April 9 deadline. According to U Naung Naung Han, chair of the Myanmar Tourism […]
Myanmar must be prepared to deal with economic fallout from spread of COVID-19
March 16, 2020 by
Although Myanmar has not officially detected any COVID-19 carriers, the virus has wreaked havoc on the economy and could lead to full-blown economic crisis if not contained soon. The tourism sector has suffered from a stampede of cancellations beginning in China. Now, most tourists from all other countries have decided to stay at home. The […]
Growth potential in agriculture restricted by quality, other issues
January 8, 2020 by
In Myanmar, agriculture contributes to a third of the country’s GDP, a quarter of its exports and creates the bulk of job opportunities. Yet, the sector’s true potential remains restricted by poor access to finance and technology, limited infrastructure, complex land tenure and quality issues as well as weak supply chains. Nevertheless, demand for products […]
A deep dive into growth projections
December 17, 2019 by
Despite rising costs, teething problems as a result of economic reforms and a slower flow of foreign capital into the country, government officials and institutions like the World Bank and International Monetary Fund have issued lofty growth forecasts for Myanmar in the year ahead. Among the most bullish of these institutions is the ASEAN+3 Macroeconomic […]
Prudential receives licence to operate in Myanmar
December 3, 2019 by
(L-R) Lilian Ng, chief executive, insurance, Prudential Corporation Asia, U Soe Win, Union Minister, Myanmar’s Ministry of Planning and Finance, and Tim Lau, chairman of the board, Prudential Myanmar Life Insurance Prudential Corporation Asia has received a life insurance licence from the Ministry of Planning and Finance (MoPF) of Myanmar, the insurer has announced in […]
