Myanmar unveils Bawdwin ‘starter pit’ scoping study

A SX-listed junior Myanmar Metals has unveiled the results of a scoping study for the Bawdwin polymetallic mine, in Myanmar, demonstrating the viability of developing a 13-year “starter pit” that will fund the life-of-mine infrastructure. Based on the indicated and inferred resources from the China lode of Bawdwin, the CSA Global-prepared scoping study demonstrates the […]

China hardsells big ticket but low on trust, India’s soft power push in Myanmar education and health

As Delhi seeks to expand its engagement with Myanmar, it is in sectors such as education, health and entertainment services that India hopes to make an impact in a country crowded with several international players, and completely dominated by China. In a state-of-the art classroom at the steel and glass Myanmar Institute of Information Technology […]

As the West isolates Myanmar, some investors dig in for the long term

YANGON/BANGKOK — A full generation has grown up since the State Law and Order Restoration Council (SLORC) of Senior Gen. Saw Maung seized power on Sept. 18, 1988, putting a bloody end to a nationwide pro-democracy uprising that lasted some six weeks. An estimated 3,000 people died in the crackdown, which re-established direct military rule […]

Local businesses propose to establish industrial zone in central Myanmar

YANGON, Sept. 2 (Xinhua) — Local businesses will submit a proposal to the regional government in Myanmar’s central Magway to establish an industrial zone there, the official Global New Light of Myanmar reported Sunday. The industrial zone was proposed to be located far from the residential area as the noise, odor and air pollution from […]

Falling kyat may put pressure on foreign debt

The falling value of the Myanmar kyat versus the US dollar could make repaying external debt harder for the government in the coming fiscal year. In 2018-19, it is expected to repay K877 billion out of the $9 billion Myanmar owes to foreign creditors, according to the budget submitted for the period. That amount may […]

Illicit export of pigs from Thailand to Myanmar rampant

The swine industry is in a difficult time, given what is happening in the region and the impact those developments caused, an industry leader said. U Zaw Myo Tun, joint secretary from Myanmar Livestock Federation said that China decided to end imports from Vietnam, due to a territory dispute at sea, and Japan stopped the […]

Kyat rebounds after re-export activities suspended

The spike in the exchange rate between the US dollar and Myanmar kyat appears to have tapered after the Ministry of Commerce (MOC) on August 17 temporarily suspended re-exports of sugar and diesel. “We suspended re-exports of sugar and diesel because the cash flows involved are huge enough to influence the exchange rate,” said U […]

Draft law for foreigner-only casinos in Myanmar: report

A bill that would authorise in principle the setting up of foreigner-only casinos in the Southeast Asia state of Myanmar was submitted to the lower house of the country’s legislature on Tuesday, the Myanmar Times newspaper reported on Wednesday. The Gambling Bill 2018 is said to include amendments to an existing statute, the Gambling Act […]

Chinese-Funded Port Gives Myanmar a Sinking Feeling

Myanmar’s government wants to sharply reduce the scale of a Chinese-funded port project on the Bay of Bengal that officials say risks saddling the country with unsustainable debt. Authorities in Myanmar are in talks with a Chinese consortium led by state-owned investment company Citic Group to shrink the size of what was originally envisioned as […]

Myanmar accepts loan from Italy as foreign debt rises

Pyidaungsu Hluttaw has approved a €30 million interest-free loan from Italy which will be used to provide electricity to villages in Chin State and other rural areas in Myanmar. Under its agreement with Italy, Myanmar will begin repaying the loan over a period of 10 years starting 2036. The repayment amount will be €3 million […]