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 […]

Natural gas exports top $3.5 bln last FY

Myanmar’s exports of natural gas in the past financial year 2019-2020 amounted to US$3.5 billion, the Commerce Ministry’s data showed. The figures plunged from $3.88 billion registered in the FY 2018-2019, as per Commerce Ministry data. Natural gas is included in the list of major export items of Myanmar. Over 10 per cent of the […]

Companies asked to delay bringing in workers from covid-hit Myanmar

Health authorities will ask businesses to delay bringing in workers from Myanmar, amid reports of a wave of Covid-19 infections there. Sophon Iamsirithavorn, chief of the Communicable Disease Division, said on Friday there was a rise in the number of coronavirus disease cases reported in several countries. This included Myanmar, where most cases were reported […]

Kyaukphyu Airport to receive funds for repairs, upgrades

The government has allocated funds towards repairing and upgrading the Kyaukphyu Airport in Rakhine State, said U Kyaw Myo, deputy minister of Transport and Communications.U Kyaw Myo revealed that more than K500 million in state funds has been submitted for the development of Kyaukphyu Airport in fiscal 2020-2021. The minister was responding to questions raised […]

Myanmar has 2,642 Filling Stations Across the Country

More than 250 filling stations were allowed within ten months in 2019, bringing Myanmar’s total count to 2,462 filling stations across the country, according to figures from the Ministry of Electricity and Energy. There are 94 filling stations in Nay Pyi Taw, 186 filling stations in Yangon Region, 647 filling stations in Mandalay Region, 214 […]

Trade War Could be ‘Silver Lining’ for Myanmar

Myanmar has to move to tap into opportunities created by trade tensions between the world’s two largest economies, said a senior Singaporean academic. The US-China trade war has provided “silver linings” for many countries, such as Vietnam. in the Southeast Asia region, said Simon Tay, Chairman of Singapore Institute of International Affairs (SIIA), in the […]

Deal Signed to Purchase Power from Kyaukphyu Power Plant Project

According to a statement from the MOEE, the power purchase agreement (PPA) was signed last Tuesday. Kyauk Phyu Electric Power Co is a joint venture between Myanmar’s Supreme Group and Chinese state-owned firm Power China. The gas-fired power plant in Kyaukphyu, Rakhine State, is one of four projects expected to generate a total of 3111MW […]

Myanmar State Firm Signs Deal to Buy Electricity From Strategic Chinese Project in Rakhine

YANGON—A Myanmar state-owned enterprise has inked a power purchase agreement with a Myanmar-China joint venture company that is developing a 135-megawatt (MW) power plant project in Kyaukphyu, in western Myanmar’s Rakhine State. The plant is one of the strategic projects that make up the Myanmar section of Beijing’s grand infrastructure plan, the Belt and Road […]

Myanmar Military-Backed Firm Rejects Minister’s Account of Power Meter Bidding Problems

Military-run Myanmar Economics Holding Public Company Limited (MEHPCL) on Friday said that a deputy minister’s comments in Parliament regarding problems with the procurement process for electricity meters over the past three years were unfair and had harmed the company’s reputation. In a statement, MEHPCL said Union Deputy Electricity and Energy Minister U Tun Naing’s comments […]

UK shifts trade policy on Myanmar to open markets further

Britain is signalling a shift in its trade policy on Myanmar to focus on opening up specific sectors where UK companies already have a foothold, including education, financial and professional services, infrastructure and energy. In an interview with The Myanmar Times, Warren Pain, director of international trade at the British embassy, set out how the […]