Can Myanmar sustain growth momentum?

YANGON — The World Bank’s forecast on Jan. 30 that Myanmar’s economy will grow by more than 7% annually for the next three years might appear to be overly optimistic. In the latest issue of its Myanmar Economic Monitor, the World Bank said that while growth would most likely be around 6.5% for fiscal year […]

Yangon to invest Ks 8 billion into agricultural sector

The Yangon Region Government has earmarked about Ks8 billion to spend on development of the mechanised agricultural sector in Yangon Region as part of a revitalization effort for farmland, said Yangon Region Chief Minister U Phyo Min Thein. “As far as the industry sector is developed in Yangon Region, it is found that the agriculture […]

Myanmar courting global producers

The Myanmar authorities have sped up efforts in recent months to increase the country’s attractiveness for global manufacturers. The latest move was revealed in September by the Myanmar Investment Commission (MIC) and concerns the move to allow local and foreign investors into industrial zones across the country. This follows requests by companies from Hong Kong […]

Japan based Toyo Seikan Co to join hands with Loi Hein Company

Japan based Toyo Seikan Co., Ltd will join hands with Loi Hein Company to set up a can manufacturing factory, it is learnt. Toyo Seikan Co., Ltd has already pledged to make an investment of US$23.5million in the factory. The joint venture (JV) will be founded under the name of Yangon Can Manufacturing Co., Ltd. […]

Rice sector faces long struggle

Whatever steps the incoming government may be contemplating to spur investment, agricultural experts see little improvement in the short term for rice cultivation. Even long-term development will be a drawn-out struggle, said Myanmar Rice Federation general secretary U Ye Aung. In a recent interview with The Myanmar Times, U Ye Aung said barriers to raising […]

Building on rural sector is key for Myanmar’s economic modernization: OECD

Improving Myanmar’s agricultural sector by building up food processing activities and related services could help transform the country’s economy into a more modern one that is able to produce higher-value goods for export, a new Organization for Economic Co-operation and Development (OECD) report says. The second volume of the OECD’s Multi-dimensional Review of Myanmar reveals […]

Manufacturing Sector Receives Most FDI

Over half of the total foreign investment made in the current 2013-14 financial year went into Myanmar’s manufacturing sector, a top Myanmar Investment Commission (MIC) official said. “Manufacturing sector has developed significantly during this financial year. More than 80 percent of the foreign investment came to this sector,” U Aung Naing Oo, director general of […]

Myanmar sees encouraging foreign engagement in agricultural sector

Myanmar has seen some encouraging foreign engagement in the development of its agricultural sector, in which foreign investment accounts for only 0.43 percent of the total. The International Fund for Agriculture Development (IFAD) recently granted 300,000 U.S. dollars’ aid to Myanmar to carry out project for agricultural development. The 18-month project from October 2013 to […]

Myanmar’s rice revival uncertain

Scant stocks, weak demand dent Myanmar’s hopes of rice revival. Shrinking global demand, poor infrastructure and hesitant investors could leave Myanmar far short of its rice export target this year, dealing a blow to its ambitions of competing with the world’s top shippers of the grain. Industry experts and government officials say the 3 million-tonne […]