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Japan envoy says development is solution for Rakhine

Japan’s top envoy to Myanmar said that economic development is an answer to Rakhine’s conflict and that Tokyo is considering providing aid for the state. “If there is economic development, I believe that there will be no conflict,” Japanese Ambassador Ichiro Maruyama said ahead of a Japan-backed investment fair in Ngapali. The first Rakhine Investment […]

Recovery expected as China executes BRI: OCBC Bank

Myanmar may be in for a tough patch with foreign direct investments declining, inflation rising and global uncertainty adding pressure to the kyat. Yet, recovery may be on the cards as opportunities emerge on the back of policy reforms and the execution of projects related to China’s Belt and Road Initiative (BRI), analysts from Singapore’s […]

China port pact in focus as President visits Myanmar

President Ram Nath Kovind’s first visit to Myanmar starting on Monday will be an occasion to build upon the strong bilateral relationship with India’s biggest link with the Asean region. However, with Myanmar signing the Kyaukpyu port project with China in November, officials in India are concerned that this port could become a greater security […]

China’s top planning agency doubles down on Belt and Road collaboration

Ning Jizhe, vice chair of China’s top planning agency National Development and Reform Commission (NDRC), visited Myanmar from November 24 to 27. The visit is built on the consensus reached by State Counsellor Daw Aung San Suu Kyi and China’s leader Xi Jinping at the end of 2017, with regards to the China-Myanmar Economic Corridor […]

China and Japan in Myanmar

Since 2015, Myanmar has been heading toward a market approach. There is also huge potential for the country to upgrade its structure with China, and also within the rest of the country. Things have been moving in the right direction. China and Japan have been assisting Myanmar’s Government despite the Rohingya crisis Myanmar is a […]

Kyaukphyu port: What happens next?

After more than two years of negotiations, the Myanmar government and China’s state-owned CITIC Group signed the framework agreement for the proposed US$1.3 billion deep-sea port in Kyaukphyu on November 8. At the press conference, CITIC chair Chang Zhenming said this meant “the beginning of further steps”. “Signing this agreement is the starting step for […]

China clinches multi-billion-dollar strategic port deal with Myanmar

China has clinched a multi-billion-dollar deal to build a port + at a strategic town along the coast of the Bay of Bengal in Myanmar, its third project in India’s neighbourhood after Sri Lanka and Pakistan. China and Myanmar signed an agreement on Thursday to build the deep sea port project in Kyaukpyu town after […]

Framework for Kyaukphyu Port to be signed next week

The Myanmar government and China-based CITIC Group will sign a framework agreement for the construction of the Kyaukphyu Deep Sea Port project in Rakhine State next week, said U Aung Htoo, deputy minister of commerce. “It was agreed that for the first phase, the deep sea port will be implemented with US$1.3 billion (K2.4 trillion) […]

An overview of the $9bn China-backed proposal for Myanmar’s Kyaukpyu port

In 2015, China’s state-owned investment giant CITIC Group won a tender to build a massive port at Kyaukpyu, a town in the west of Myanmar. The $9bn agreement was struck on the basis of CITIC assuming a 70% share, with the Myanmar government and local operators receiving the remaining 30%. Three years on, however, and […]

Myanmar reviews $9bn China-backed port project on cost concerns

Myanmar’s government is reviewing a $9bn deepwater port project backed by China over concerns it is too expensive and could ultimately fall under Beijing’s control if Myanmar were to default on its debt. Two people with direct knowledge of the discussions within Aung San Suu Kyi’s government said that economic officials were looking for ways […]