Suu Kyi: Myanmar ‘not left behind’ in 4th Industrial Revolution

Myanmar leader Aung San Suu Kyi said on Wednesday her country, having been “practically bypassed” by the IT-based Third Industrial Revolution that began decades ago, is making “quantum leaps” to catch up amid the rapid advancement of transformative technologies driving the Fourth Industrial Revolution. “We have been forced to plunge straight into the fourth one,” […]

Myanmar official says ‘totally underestimated’ economic impact of Rohingya crisis

A Myanmar foreign investment official said on Wednesday he “totally underestimated” the economic damage of the Rohingya crisis, adding that the outcry over the jailing of two Reuters reporters would also have some impact on his country’s reputation. Asked at an investor forum in Singapore what impact the crisis had on Myanmar’s economy and investment, […]

UMFCCI suggests four points for the country’s economy

Zaw Min Win, President of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) submitted the four-point suggestion to Myanmar State Counsellor Aung San Suu Kyi. On August 27, Myanmar State Counsellor Aung San Suu Kyi held a talk with local entrepreneurs at Nay Pyi Taw. The four points are: export promotion, […]

Operators unfazed as Myanmar slows

YOUNG entrepreneurs in Myanmar remain upbeat on the country’s economic outlook despite weakening of the kyat, high inflation and delay to reform. “It is not good if you look at the exchange rate. The kyat is retreating against the US dollar and Thai baht, We are in a unstable period,” May Mon Thu, managing director […]

Waiting for Godot: farmers seek return of seized land

Farmers in Myanmar are still waiting for justice as many of their lands were confiscated by government officials, military personnel, authorities and their cronies for various reasons, a new report from New York-based Human Rights Watch (HRW) revealed. The NGO launched the report “Nothing for Our Land: Impacts of Land Confiscation on Farmers in Myanmar” […]

Myanmar gold exports could rise to 20 T in 2019 -industry official

KOCHI, India, Aug 4 (Reuters) – Myanmar could export as much as 20 tonnes of gold in 2019 after the Southeast Asian country earlier this year permitted exports of the precious metal for the first time in five decades, a senior industry official said on Saturday. A pick-up in legal exports will reduce the smuggling […]

Myanmar Gold Exports Could Rise to 20 Tons in 2019: Industry Official

Kochi, India. Myanmar could export as much as 20 metric tons of gold in 2019 after the Southeast Asian country earlier this year permitted exports of the precious metal for the first time in five decades, a senior industry official said on Saturday (04/08). A pick-up in legal exports will reduce the smuggling of gold […]

Myanmar scales back Chinese-backed port project over debt fears

Myanmar has scaled back plans for a Chinese-backed port on its western coast, sharply reducing the cost of the project after concerns it could leave the south-east Asian nation heavily indebted, a top government official and an adviser told Reuters. The Kyaukpyu port is a key part of China’s ambitious Belt and Road initiative, aimed […]

Can China-Myanmar Economic Corridor overcome hurdles to progress?

Recently, U Aung Naing Oo, director general of the Directorate of Investment and Company Administration of Myanmar, said that Myanmar and China will soon sign a Memorandum of Understanding (MoU) on building the China-Myanmar Economic Corridor (CMEC), one of the key projects of the Belt and Road initiative (BRI). The two sides reached a 15-point […]

China, Myanmar to sign MOU on Economic Corridor in 2018

China and Myanmar will soon sign a Memorandum of Understanding (MOU) on building the China-Myanmar Economic Corridor (CMEC), one of the highlight projects of the Belt and Road (B&R) initiative, according to reports by media in Myanmar. U Aung Naing Oo, Director General of the Directorate of Investment and Company Administration of Myanmar, was recently […]