Belt and Road shields Myanmar from Beijing’s capital crackdown

BEIJING’S recent crackdown on outbound investments does not affect Myanmar because of its involvement in the Belt and Road Initiative (BRI). The sectors targeted by the restriction do not concern investment projects here, which are mostly infrastructure and energy-related. The Chinese government is blacklisting businesses which violate foreign investment rules as part of a broader […]

China Yunnan courting Myanmar with investment and BRI

Myanmar’s economy is inextricably linked to neighbouring China. The country exports more than half its agriculture produce across the border, making China one of its largest trade partners. Meanwhile, China is also the largest investor in Myanmar, with total approved investments totaling US$19.1 billion as at August 31. As a whole, foreign direct investments from […]

Crop insurance, land reform and investment are essential to Myanmar’s agricultural sector

Q: What is the state of the rice industry in Myanmar? A: The government relaxed its control of the rice industry in 2003. Since FY2012-2013, rice export volume has exceeded one million tons per year. Q: Rice from Myanmar does not meet international standards and fails to sell for good prices in the international market. […]

Muse trade rises again after merchant accounts unfrozen

The Muse land port of entry saw trade values increase by US$100 million in first four months of the current financial year compared to same period of last year, said the merchants engaged in Muse border trade. The increase in trade is due, in part, to the unfreezing of bank accounts by China after a […]

Myanmar businessmen propose Muse FX exchange for China trade

Myanmar businessmen are lobbying the government to open a new state-run foreign exchange bank near Muse Trade Zone in response to China’s recent closures of Myanmar traders’ bank accounts along the Yunnan border, according to a report of Myawady Daily newspaper yesterday. In an effort to crack down on illegal gambling, smuggling and other illicit […]

Traders wish for negotiations with Chinese for blocked bank accounts

Traders want the State to enter into negotiations with the Chinese government over 1,000 bank accounts of Myanmar merchants which are frozen by Chinese banks, merchants said. The Chinese government blocked the bank accounts which are used in transactions in the course of taking actions against illegal importers from Myanmar and Viet Nam. The bank […]

1,000 new YBS buses to hit YGN roads

Yangon Bus Service (YBS) is expanding its ride service with the addition of 1,000 new buses within the next two weeks, according to an announcement by the Yangon Region Transport Authority (YRTA) in Friday’s editions of The Mirror Daily. The Yangon region government purchased 500 new buses from China Yutong company and 500 buses from […]

Exports Prioritised to Meet Trade Target

​​ According to official figures from the Ministry of Commerce, trade volume reached US$23 billion until the end of January in this fiscal year. The ministry has set the target trade volume to be $31 billion, therefore the ministry will continue trying to achieve its target over the next two months, said U Khin Maung […]

Shops close as jade prices drop by 70pc in Kachin State

Demand has fallen after a Chinese government crackdown on traders who bought value-added jade without paying tax, said U Z Lum, chair of the Myanmar Gems and Jewellery Entrepreneurs’ Association in Myitkyina, the capital of Kachin State. “Chinese buyers have to pay high taxes in China if they buy our value-added products. This has had […]

BD to build 23km road inside Myanmar to connect with China

Bangladesh will build a 23-kilometre road from Gundam in Myanmar towards Kunming to connect with China to establish cross-border transport link among the three countries, Finance Minister AMA Muhith said Tuesday. “We will build 23-km road out of 170 kms which reaches from Gundam to Kunming as part of regional connectivity initiatives,” he told newsmen […]