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Chinese Foreign Minister Visits Myanmar to Speed Up Belt and Road Projects

YANGON – A Chinese foreign affairs chief has pushed the Myanmar government to speed up construction of projects within the China-Myanmar Economic Corridor, which is a part of the giant Belt and Road Initiative (BRI). In Naypyitaw, China’s State Councilor Wang Yi told Myanmar’s State Counselor Daw Aung San Suu Kyi on Saturday that China […]

Myanmar State Firm Signs Deal to Buy Electricity From Strategic Chinese Project in Rakhine

YANGON—A Myanmar state-owned enterprise has inked a power purchase agreement with a Myanmar-China joint venture company that is developing a 135-megawatt (MW) power plant project in Kyaukphyu, in western Myanmar’s Rakhine State. The plant is one of the strategic projects that make up the Myanmar section of Beijing’s grand infrastructure plan, the Belt and Road […]

Taking a Quantum Leap to Revamp Myanmar’s Economy

YANGON—Since last year, Myanmar officials responsible for drumming up foreign investment have been shuttling between Naypyitaw and Asian countries to pitch the government’s latest legal, procedural, and institutional reforms to potential investors as part of efforts to revitalize the country’s economy. State Counselor Daw Aung San Suu Kyi often highlights foreign direct investment (FDI) as […]

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 […]