IMF projects muted growth for 2021 economy

Myanmar’s economy is expected to post muted growth this year due to the impact of COVID-19, but should rebound next year, the IMF said. In a statement, IMF projected this year’s growth to slow down to 0.5 percent, from a projected 3.2pc last year. “The economic fallout will be felt by lower income groups, SMEs […]

Myanmar’s economy depends on Rakhines stability: trade body

Despite rich resources and good geographical location, Rakhine State has many challenges to overcome if it is to attract foreign investments, people in the business community say. “Foreign investments have slowed due to conflict in the state. The economy of Rakhine needs to be promoted first and only when it is conducive, will problems such […]

Ministry to Compensate Mining Firms

The Ministry of Mining said it will compensate the companies that had to halt operation in Kachin state by extending permit periods. The government allowed jade mining operations to resume in Kachin state on September 1 after operations were suspended in May 2012 due to an armed conflict. The move comes as a response to […]

Lessons from Asia’s reversal of fortunes

The short flight from Bangkok to Yangon on Sunday took the usual 55 minutes and transported passengers from Thailand’s thriving metropolis to the more surreal world of Myanmar’s former capital. But this time, the “tale of two cities” – one just emerging from the shadows, the other on a rapid development track – had reversed, […]