Chinese Group Proposes Major Garment Manufacturing Hub in Northern Myanmar

YANGON—A Chinese textile group has submitted a proposal to implement an international textile manufacturing cluster project in a major town in Sagaing Region, an economic hub for Upper Myanmar, at an expected cost of more than US$370 million (493.49 billion kyats). The Ministry of Planning, Finance, and Industry (MOPFI) said China’s Jiangsu province-based Eastern Development […]

Myanmar Appeals to Public to Help Fund Purchase of COVID-19 Vaccines

YANGON—Myanmar is seeking donations from the public to supplement an initial US$251 million (331.28 billion kyats) earmarked by the government to fund the purchase of COVID-19 vaccines, according to the Ministry of Planning, Finance and Industry (MOPFI). On Tuesday, the MOPFI said in a statement that the Fund Management Sub-committee on the Purchase of COVID-19 […]

Myanmar seeks around US$1B to acquire COVID-19 vaccines

Myanmar is asking the World Bank, Asia Development Bank (ADB), Japan International Cooperation Agency (JICA) and the International Monetary Fund (IMF) for almost US$1 billion in funds to buy COVID-19 vaccines, said U Tun Tun Naing, permanent secretary at the Ministry of Planning, Finance and Industry (MOPFI). “Like other countries, Myanmar is trying to get […]

Singapore Agency to Help Myanmar Find Partners for Key Infrastructure Projects

YANGON—Under an agreement with Myanmar’s Ministry of Planning, Finance and Industry (MOPFI), Singapore’s Infrastructure Asia (IA) will help identify suitable investors, including by inviting international-standard tenders, for infrastructure projects listed in Myanmar’s Project Bank, an online database of priority projects aligned with the country’s sustainable development plan. According to the Singapore Embassy, under the agreement, […]

Govt releases economic stimulus plan to fight COVID-19

This story has been updated on April 29 to include comments from the business community. The Ministry of Planning, Finance and Industry (MoPFI) on April 27 issued a comprehensive economic stimulus plan (CERP) consisting of seven goals, 10 strategies, 36 action plans and 76 actions that cover a range of emergency fiscal and monetary measures. […]