ASEAN migrant remittances equal to Myanmar GDP

JAKARTA — Vast differences in living standards and wages across Southeast Asia have driven a massive rise in migration in the region since the mid-1990s, resulting in an estimated 6.77 million migrant workers sending home substantial chunks of their often meager wages to support families in poorer areas. According to a World Bank report released […]

SHL Eyes Myanmar Affordable Housing Market

KUALA LUMPUR (Aug 24): SHL Consolidated Bhd’s joint venture (JV) with Japan-based Marubeni Corp is looking at tapping into Myanmar’s affordable housing market, in line with their business venture across the Association of Southeast Asian Nations (Asean) region. SHL executive director Datuk Seri Yap Chong Lee said the JV planned to leverage areas where Marubeni […]

Myanmar’s Military Holds Key to Further Reform

What does Myanmar need to push through a successful democratic transition? It must build strong institutions, transform the economy, and end decades of conflict between ethnic armed groups and government forces, among numerous other challenges. Yet, these enormous tasks seem trivial when compared to what is probably the biggest obstacle to further democratic reform: the […]

Limited Links Sink Myanmar’s Potential

Despite its 2,000 kilometer-long coastline, reaching from Bangladesh to the west and Thailand to the east, Myanmar is home to only nine functioning ports, with the one in the commercial capital of Yangon spread across various sites and run by different owners. The ex-capital currently handles 95% of the country’s maritime trade. Annual port throughput […]

Myanmar coffee producers lag behind neighbouring countries

YANGON – Despite the fact that Myanmar has many fertile upland areas, the country is not known as a major coffee producer unlike neighbours Laos and nearby Vietnam. In recent years, local entrepreneurs have been exploring new ways to grow and market coffee domestically and abroad, with Ngwe Tun, the founder of Genuis Shan Highlands […]

Japan Competes With China for Myanmar Influence With 800 Billion Yen Aid Deal

Japanese Prime Minister Shinzo Abe and Myanmar’s de facto leader Aung San Suu Kyi. Photo: Kyodo Japan will provide aid worth 800 billion yen (US$7.73 billion) to Myanmar over five years as it competes for regional influence with the country’s biggest trading partner China. Prime Minister Shinzo Abe made the announcement at a joint news […]

AIIB Looks Forward to Promoting Infrastructure in Myanmar: President

President of the Asian Infrastructure Investment Bank (AIIB) Jin Liqun said here on Tuesday that the AIIB is looking forward to promoting infrastructure in Myanmar. A delegation from the AIIB led by Jin Liqun is visiting Myanmar. Speaking to the press in Nay Pyi Taw after meeting with Myanmar State Counselor Aung San Suu Kyi, […]

Japan to offer Myanmar ¥100bn in loans

TOKYO – Japan plans to offer ¥100 billion (US$995 million) in loans to Myanmar for infrastructure development, a Japanese government source said on Friday. It is the first such offer by Tokyo since the longtime opposition party led by Aung San Suu Kyi took office in March. Prime Minister Shinzo Abe plans to make the […]

Myanmar to ease restrictions on foreign investors

Reforms to Myanmar’s corporate law would allow foreigners to participate in the Yangon Stock Exchange. YANGON — Myanmar is determined to pass by the end of the year a series of bills designed to ease restrictions on foreign capital as the newly established civilian government steps up efforts to attract outside investment. The government had […]