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As China pushes for BRI, why Myanmar is coming close to India

China is taking a dangerous path in its attempts to make the Belt and Road Initiative (BRI) successful. The dragon is forcing the projects down the throat of its partners and Myanmar is one such example, a country that now regrets its contract with Beijing. Also read | Will China’s bad loan crisis lead to […]

Myanmar traders lament tough border trade with China

Myanmar border traders are still complaining about the difficulties they face in doing business with China despite recent government efforts to facilitate the process.Only 13 trucks are able to pass through the Myanmar gates through to China to deliver their goods every day. U Min Thein, deputy chairman of a rice trading center in the […]

OVL to invest additional Rs 900 cr in Shwe project in Myanamar

New Delhi: Giving a push to infrastructure development across sectors, the government on Wednesday approved a proposal for additional investment to be made by ONGC Videsh Ltd (OVL) in the development of an oil and gas project in neighbouring Myanmar. As per the clearance given by the Cabinet Committee on Economic Affairs (CCEA), OVL will […]

EU States Suspend US$100 M of Myanmar’s Debt Payments During COVID-19

Six European Union states have deferred debt payments from Myanmar worth nearly US$100 million for the rest of this year to help the country’s efforts to focus on economic recovery from the COVID-19 pandemic. On Wednesday, the ambassadors of the European Union, France, Germany, the Netherlands, Finland, Austria and Poland announced that the EU has […]

Myanmar govt announces 5 short-listed firms for steel plant JV

The Ministry of Planning, Finance and Industry has shortlisted five companies to apply to form a joint venture with state-owned No (1) steel plant (Myingyan). The ministry intends to restart the steel plant with the help of the private sector. The companies selected to participate in the tender are: Sinosteel Equipment & Engineering Co Ltd, […]

As Domestic Tourism Reopens in Myanmar, Businesses Struggle to Get Back on Their Feet

Domestic travel in Myanmar began to reopen this month, with tourism businesses working to revive the industry as the sector is among those most affected by the COVID-19 pandemic. After Myanmar confirmed its first COVID-19 cases in late March and the government imposed restrictions on travel, the tourism sector saw revenues plummet to zero in […]

Yangon bus payment cards to launch on July 21

The Yangon Payment System (YPS) will be launched on July 21, for a total of 597 buses run by the Yangon Public Bus Company (YPBC) and Bandoola bus lines. “The new payment system has been installed for buses travelling short distance flat payment routes, and will be installed in the longer-distance buses in the next […]

Invitation for Bids – : Design Supervision and Construction Supervision as FIDIC Engineer (MUSIP)

THE GOVERNMENT OF THE REPUBLIC OF THE UNION OF MYANMAR MANDALAY REGION GOVERNMENT MANDALAY CITY DEVELOPMENT COMMITTEE MANDALAY URBAN SERVICES IMPROVEMENT PROJECT Request for Expression of Interest No: MYWS 52.0 Contract No: MYWS 52.0 Contract Title: Design Supervision and Construction Supervision as FIDIC Engineer of the New Water Treatment Plant and Associated Pipe Line Works […]

Hotels, restaurants in Myanmar suffer as pandemic lingers

About 60 percent of hotels in the country have reopened but business remains sluggish as the COVID-19 pandemic lingers and restrictions continue on the entry of foreigners until the end of the month. The same is true for restaurants, which have all reopened since May. Their earnings have dropped as much as 50 percent from […]

Virus-hit local tourism, the continued shutdown of Yangon International Airport and weak signal for revival of businesses

According to the World Tourism Federation (WTF) for 2019, the total number of tourists around the globe exceeded 1,500 million. China has topped the list of global tourists as Chinese tourists account for 156 million. Due to the spread of COVID-19, almost all tourism businesses in the globe have stopped. The pandemic has resulted in […]