The Inside Story of Thailand and Myanmar’s Troubled Dawei Mega-Project

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

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 […]

Myanmar to continue efforts to support economy amid COVID-19

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

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 to export honey to EU this year

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

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 […]

Myanmar govt invites EOI for life insurance, general insurance licences

Myanmar is calling for Expression of Interests (EOI) for life insurance and general insurance licenses from citizen-owned firms. The government will choose either one or two companies from the applicants to award the licenses to, with the aim of further developing the country’s insurance sector, according to the Insurance Business Regulatory Board under the Ministry […]

Myanmar bets on industrial zones to draw investments, create jobs

Myanmar is betting on its industrial and special economic zones (SEZ) to draw foreign direct investments (FDI) and local economists say this strategy could also help it solve the conflict in the country’s poorest regions. “If we can implement the Kyaukphyu SEZ project, we can overcome the Rakhine crisis. Also, armed groups like the Arakan […]

Myanmar sees reduced trade for first quarter of 2020-21

Myanmar recorded US$8.9 billion in total trade in the first quarter of fiscal 2020-21, $2.5 billion less than the same period of last year. The fall was attributed to reduced exports of natural gas, gems, garment products, and fishery, and other animal products due to the COVID-19 outbreak. Imports also saw a decline with the […]

Myanmar starts India-made COVID jabs, but China vaccine on hold

YANGON — Myanmar began COVID-19 vaccinations on Wednesday, five days after receiving 1.5 million doses from India, whose commitment to the Southeast Asian nation overwhelms China’s in terms of volume and timeliness. At the Yangon General Hospital, vaccinations began for health care workers. Ma Khin Nyo Htway was one of the first to receive a […]