fbpx

China Leads Investment in Yangon

YANGON—China was the largest investor in Myanmar’s financial hub, Yangon Region, in the first nine months of the current fiscal year, according to the Directorate of Investment and Company Administration (DICA). China is already the second-largest investor in the country. The director of DICA’s Yangon Region Office, U Myo Khaing Oo, said on Wednesday that […]

Rakhine Rebels Eager for Foreign Investment

YANGON—The Arakan Army (AA) has signaled to foreign developers it wants them to invest in Rakhine State, noting that the region is on an essential part of Chinese President Xi Jinping’s signature Belt and Road Initiative (BRI)—the proposed comprehensive trade and logistics route linking China and Europe through Central Asia, the Middle East and Russia. […]

China-Backed Venture Proposes $800M Development Near Kyaukphyu Seaport

YANGON—A Chinese petrochemical giant and a Myanmar firm have jointly proposed to the Rakhine State government the development of nearly US$800 million (1.21 trillion kyats) worth of projects near the Kyaukphyu Special Economic Zone (SEZ)’s deep seaport and Ramree Island. The centerpiece of the proposal is a new logistics terminal on Maday Island situated 10 […]

New Chinese Ambassador Vows to Seek ‘Practical Cooperation’ with Myanmar on BRI Projects

China’s new ambassador to Myanmar said he would push for deeper “practical cooperation” on Beijing’s grand infrastructure projects in the country while working to advance bilateral relations. One day after President U Win Myint accepted the credentials of Ambassador Chen Hai in Naypyitaw, the Chinese Embassy issued a statement on Wednesday regarding their discussion in […]

Gov’t Spells Out Conditions for Signing BRI Deals with China

A senior Myanmar official revealed that the government has drawn up a set of conditions for signing memorandums of understanding (MOUs) related to Beijing’s grand infrastructure projects in the country in order to avoid falling into a “debt trap” with China and to ensure the projects benefit both countries. The conditions include acquiring international financing […]

Myanmar-China Think Tank Forum kicks off in Yangon

The third Myanmar-China Think Tank Forum kicked off on Tuesday in Myanmar’s Yangon, gathering about 40 experts from both countries. Focusing on the Belt and Road Initiative (BRI) and Myanmar-China Economic Corridor, discussions and views were exchanged under four topics — “Economic Cooperation and Border Trade” “People-to-people Connectivity” “Socio-Economic Development” and “Cross-border Ethnic Communities” at […]

China-Backed Muse-Mandalay Railway to Cost $9 Billion

An ambitious China-backed railway project connecting two economic centers in Myanmar with Kunming, the capital of Yunnan province in southwestern China, will cost almost US$9 billion and final decisions on the specific details of the construction are expected to be made by the end of this year. As a part of the China-Myanmar Economic Corridor […]

Sino Great Wall: Crashing out on the belt and road

Mottama Holdings invited journalists to a high-profile “topping-out” ceremony for its M Tower project, a 26-storey office building near Hledan junction in Yangon that used prefabricated steel structure from the company’s factory in the city. After putting in place the final steel beam – complete with gold-coloured bolts – more than 100 metres above Pyay […]

Myanmar Signs 3 Agreements at Belt and Road Forum

Myanmar’s government signed two memorandums of understanding (MOUs) and an agreement letter with China at Beijing’s Belt and Road Forum on Thursday, detailing strengthened cooperation between the countries on the China-Myanmar Economic Corridor (CMEC), trade and technology. According to the Ministry of Information, Myanmar State Counselor Daw Aung San Suu Kyi and Prime Minister of […]

Public Needs Reassuring Over BRI-Related New Yangon City Project Yangon

Of all the development projects initiated by the Yangon government, the New Yangon City project is indisputably the most controversial. From the beginning, the project’s location—a 20,000-acre site on the west bank of the Yangon River—has been questioned due to the flood-prone topography of the area. Then it emerged that the project’s main developer, the […]