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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 […]

Myanmar COVID-19 Recovery Plan Won’t Favor China’s BRI Projects, Official Says

YANGON—When Myanmar announced its seven-point economic relief plan to mitigate the economic impact of COVID-19 in late April, one item immediately raised eyebrows among China analysts in the country. The initiative’s third main objective is stated as “Easing the Impacts on Laborers and Workers”, and one of the ways the government intends to achieve this […]

Xi Hopeful on Belt and Road Projects in Myanmar During COVID-19

YANGON—Chinese President Xi Jinping expressed hope that Myanmar will speed up cooperation with China to implement its ambitious infrastructure projects in the country during a recent call with Myanmar President U Win Myint. In the phone conversation on Wednesday, Xi said that he is expecting the two sides will cooperate closely and speed up the […]

China’s Ant Financial buys stake in fintech Wave Money

<a href=”https://youtu.be/pCvYiQYDHcE” target=”_blank”><img src=”https://consult-myanmar.com/wp-content/uploads/2013/10/doingbusinessinmyanmar-thumbnail2.jpg” width=”600″ height=”250″ /> </a> China’s Ant Financial, a fintech affiliate of e-commerce giant Alibaba Group Holding, is set to acquire a minority stake in Wave Money, a Myanmar mobile payment firm. Wave Money said on Monday (May 18) that Ant Financial Services Group plans to invest US$73.5 million by way of […]

Operator of China’s Alipay to Invest Over US$73 Million in Myanmar’s Wave Money

YANGON—China’s Ant Financial Services Group plans to invest US$73.5 million (103.2 billion kyats) in Myanmar’s leading mobile money company, Wave Money. Owned by Alibaba Group, Hangzhou-based Ant is the operator of the online payment service Alipay. Wave Money, a joint venture between Telenor Group and Yoma Strategic, runs a network of more than 57,000 agents […]

China Closes Myanmar Border to Stop COVID-19 Returning

Mandalay – China has ordered a 60-day closure of all border checkpoints with Myanmar on Thursday, as the confirmed cases of COVID 19 rose to 139. The order from the Yunnan Province government said all kinds of travel between Myanmar were banned and Chinese citizens would not be allowed to cross the border until June […]

Pandemic puts China metals supply chain in jeopardy

China, the world’s top metals consumer, is looking to reboot industrial activity across the country, after the pandemic lockdown hit its economy hard. But potential shortages of key metal-making raw materials create risks to production of everything from home appliances to electric vehicle batteries. Copper China boosted copper imports year-on-year in March, but still faces […]

Thousands of Myanmar Migrant Workers Return from China into Quarantine

MANDALAY—Nearly 4,000 Myanmar migrant workers who were working in China have flooded into border checkpoints in Kachin State since last Thursday, where they were transferred to government facilities across the state for 21-day quarantines. Local officials were told to expect as many as 18,000 migrant workers to return in the coming weeks. According to local […]

UK Embassy Tells Citizens to Leave Myanmar Amid Coronavirus Concerns

YANGON—The UK Embassy in Yangon announced Tuesday that all British nationals in Myanmar are advised to leave the country if possible, due to the potential pressures on medical facilities from COVID-19 and the risk that flights departing the country will be cancelled. As of Wednesday afternoon, Myanmar has not yet seen a single confirmed case […]

China-Myanmar pipeline grows in its appeal

There was no second-guessing why China’s President Xi Jinping made Myanmar his first stop in a visit earlier this year, even as coronavirus was mercilessly gripping his nation: China has never ceased worrying about reliable supplies of gas, and the prospect of a pipeline with Myanmar is an attractive one. For years, since relations with […]