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Myanmar’s economy to shine in 2020?

It was reported recently that the ASEAN +3 Macroeconomic Research Office (AMRO) had given Myanmar’s economy a positive outlook for the fiscal year of 2019 to 2020, expecting it to expand by 7.1 percent up from 6.8 percent in the previous fiscal year. This is largely thanks to reform momentum, improving business sentiments, growth in […]

A deep dive into growth projections

Despite rising costs, teething problems as a result of economic reforms and a slower flow of foreign capital into the country, government officials and institutions like the World Bank and International Monetary Fund have issued lofty growth forecasts for Myanmar in the year ahead. Among the most bullish of these institutions is the ASEAN+3 Macroeconomic […]

Trade war will drive Chinese investment in Asean to US$500 billion by 2035, think tank says

Chinese investment in Asean countries is set to more than triple to US$500 billion by 2035, with the US-China trade war likely to provide a catalyst for the spike, according to a regional think tank. The claim was made in a report published on Thursday by the Asean+3 Macroeconomic Research Office (AMRO), a regional macroeconomic […]

MIC Approves Another Offshore Oil and Gas Supply Base

The Myanmar Investment Commission (MIC) has approved an application to build an offshore supply base on Made Island, in Kaukphyu, Rakhine State, by the Myanmar Chemical & Machinery Company, according to an official MIC statement. The base will be developed on 146.7 acres of land in the Made village. The approval was granted after gas […]

Can the central bank’s new guard save businesses in Myanmar?

Among the nominees for deputy governor are economist and retired Budget Department of the Ministry of Planning and Finance officer U Soe Thein, incumbent deputy governor U Soe Min and existing member of the board U Bo Bo Nge. Meanwhile, the newcomers to the Board include former deputy director general of the Union Attorney General’s […]

Economy to Grow by Seven Percent This Fiscal Year, Observer Group Predicts

RANGOON — Burma’s economy is predicted to grow by at least seven percent in the 2017-18 and 2018-19 fiscal years after growth of six percent last fiscal year, predicted regional observer group ASEAN +3 Macroeconomic Research Office (AMRO). Moderate growth in Burma last fiscal year (6.3 percent) compared to 7.3 percent the year before was […]