Myanmar Receives 16 Proposals for New Yangon City Project

YANGON — Myanmar says it has received 16 proposals from nine countries, including Japan, Singapore, Italy, Spain and France, to compete against a Chinese company’s proposal for the New Yangon City project, which is part of China’s Belt and Road Initiative (BRI). On Saturday, the Ministry of Investment and Foreign Economic Relations said 16 consortiums […]

Singapore’s Fincy Pulls Out of Controversial Chinese-Backed Gambling Hub in Myanmar

YANGON—Singapore-based financial services firm Fincy has announced it will withdraw from a controversial development project run by shady Chinese investors accused of involvement in illegal cryptocurrency and online casino operations near the Thai border in Myanmar’s Karen State. On Wednesday, Fincy said in a statement that it is pulling out of the Yatai New City […]

As China pushes for BRI, why Myanmar is coming close to India

China is taking a dangerous path in its attempts to make the Belt and Road Initiative (BRI) successful. The dragon is forcing the projects down the throat of its partners and Myanmar is one such example, a country that now regrets its contract with Beijing. Also read | Will China’s bad loan crisis lead to […]

Construction on China’s BRI Deep Sea Port to Start Soon in Myanmar’s Rakhine State: Govt

YANGON—The construction of the China-backed Kyaukphyu deep-sea port will begin soon, as preparations on both the Myanmar and China sides are on track, according to the Ministry of Commerce. The project is a crucial part of the Kyaukphyu Special Economic Zone (SEZ) in western Myanmar. The SEZ is expected to boost development in China’s landlocked […]

Diversifying Myanmar’s economy should be a priority for the next government

When Myanmar’s military regime began opening up the country politically and economically in 2010, one motive was to alleviate the country’s overreliance on China. Ten years down the road, in the context of China’s Belt and Road Initiative (BRI) and the threat of new Western sanctions triggered by human rights violations (HRV) against the Muslim […]

Myanmar Pulls Swiss Firm to Scrutinize China’s BRI Project

YANGON—The Myanmar government says it is receiving help from a Swiss company to scrutinize a China-backed study on Beijing’s ambitious railway project to connect Mandalay with Kunming, the capital of Yunnan Province in southwestern China. At a press conference in Naypyitaw on Wednesday, Myanma Railways Managing Director U Ba Myint said the Swiss company has […]

New Era, New Start, Map out a New Blueprint for China-Myanmar Economic and Trade Cooperation

China and Myanmar are close neighbors connected by shared mountains and rivers. Our people have lived alongside each other for thousands of years. The Pauk-Phaw friendship between our two peoples can be dated back to ancient times. To mark the 70th anniversary of the establishment of diplomatic relations between China and Myanmar, President of the […]

Singapore Agency to Help Myanmar Find Partners for Key Infrastructure Projects

YANGON—Under an agreement with Myanmar’s Ministry of Planning, Finance and Industry (MOPFI), Singapore’s Infrastructure Asia (IA) will help identify suitable investors, including by inviting international-standard tenders, for infrastructure projects listed in Myanmar’s Project Bank, an online database of priority projects aligned with the country’s sustainable development plan. According to the Singapore Embassy, under the agreement, […]

Kachin State Inks Border Business Park Deal With China-Myanmar Joint Venture

YANGON—The Kachin State government has signed a memorandum of understanding (MOU) with a Chinese-backed company to develop a business park project in Kanpiketi, a border town in northern Myanmar, as part of Beijing’s ambitious grand infrastructure plan, the Belt and Road Initiative (BRI). On Wednesday, the MOU was signed by the state government and Myanmar […]

Coronavirus Slows China’s Belt and Road Push

When President Xi Jinping made his first state visit to Myanmar this year and signed new infrastructure contracts, there was no indication of the obstacle about to trip up China’s plan for railways, ports and highways around the world: the coronavirus. Travel restrictions to prevent the spread of the disease, which has now killed more […]