China, Myanmar Agree 15-Point MoU on Economic Corridor

YANGON — Chinese and Myanmar officials agreed a 15-point Memorandum of Understanding (MoU) on building a China-Myanmar Economic Corridor, part of China’s One Belt One Road Initiative, said U Min Zaw Oo, the director of the Directorate of Investment and Company Administration (DICA). “The agreements have been reached. The 15-point MoU is ready,” U Min […]

Myanmar’s New Gold Mine is Dinosaur Amber

On the discovery of the “Amber hunter” for the discovery of the Jurassic Park-style of the Dinosaurs, through the rocks of precious resin in Myanmar – an attractive business that attracts the paleontologists but in the far north the struggle for decades also fueled. Kachin revolves around the merchants using the Amber Market torch and […]

Myanmar’s Waiting for the Western Investment That Never Came

Among business leaders in Myanmar, would-be investment from the U.S. and Europe is known by the wry acronym NATO. “No Action, Talk Only,” Sean Turnell, special economic consultant to Myanmar’s leader Aung San Suu Kyi, said in an interview, underscoring the country’s history of missed opportunities and unfulfilled potential. As Southeast Asia’s fastest-growing economy began […]

Yoma Strategic unveils new plans, new name

The family-run holdings company behind Yangon luxury developments Pun Hlaing Estate, StarCity and Yoma Central announced on June 26 that the real estate portion of their business dealings will be rebranded under the name Yoma Land and that they will also be delving into “mass market product offerings.” While Yoma Land Managing Director Cyrus Pun […]

Myanmar will ask China to downsize project, minister says

NAYPYITAW — Myanmar will seek to reduce the scale of a China-led special economic zone project in its western state of Rakhine, Planning and Finance Minister Soe Win said in an exclusive interview. Speaking with Nikkei on Tuesday, the minister, a former Deloitte managing partner, stressed the importance of heeding “lessons that we learned from […]

Myanmar shouldn’t write off China without understanding her neighbour

An old Chinese proverb goes like this: “Three men make a tiger.” It means that if an unfounded premise is repeated many times, the premise will be accepted as the truth. Once this “tiger” is invented, it would be extremely difficult to dispel it from people’s minds, especially when we are living in a post-truth […]

Myanmar to showcase investment projects, reforms in Hong Kong’s Belt and Road forum

The newly-appointed chair of Myanmar Investment Commission (MIC) U Thaung Tun, who is also Union Minister at the Office of the Union Government, is going to lead a delegation to the third annual Belt and Road Summit in Hong Kong this week. Demonstrated by the major economic reforms we have implemented over the past year, […]

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 […]

Over $231m paid so far for Chinese oil and gas loans

Myanmar loaned over US$1.6 billion from China for three oil and gas projects and has paid back over US$231 million plus interest of over US$418 million, according to a press conference on the report of EITI (Extractive Industries Transparency Initiative) for 2014-2015 fiscal year and 2015-2016 FY. The press conference was held at Sule Shangri […]

Sugar re-export earns revenue, creates job opportunities

After lifting a temporary ban on sugar re-exports from 1 June, Muse merchants are resuming sugar re-export, earning revenue and creating job opportunities, according to the Agriculture and Market Information Agency. A ton of imported sugar is worth US$480, while Myanmar merchants re-export it for $600. The re-exported sugar is not intended to be consumed […]