Myanmar to continue efforts to support economy amid COVID-19

To mitigate the negative socio-economic impact of COVID-19 on livelihoods in Myanmar, the newly formed government under the Tatmadaw (military) will prioritise support for the agriculture industry, which employs around 70 percent of the country’s population, Minister for Foreign Affairs U Wunna Maung Lwin and Minister for International Cooperation U Ko Ko Hlaing told ambassadors […]

Domestic fuel oil price rises to nine-month high on vaccine optimism

The domestic fuel oil price has now risen to 30-50 percent per litre compared to April 2019, as the vaccine optimism grew, and some businesses resume their operations, the market data indicated. At present, the domestic oil market has recovered a bit as the COVID-19 heightened measures have eased a bit. The fuel oil was […]

Myanmar Starts Vaccinating Medics Nationwide Against COVID-19

Yangon – Myanmar has launched a nationwide coronavirus vaccination drive by inoculating health-care personnel, including volunteers, on the COVID-19 frontline. The vaccinations follow major programs in Singapore and Indonesia while Laos has vaccinated only a few hundred health-care workers. Other ASEAN members expect to begin vaccinations in February. On Tuesday, Myanmar reported 138,368 COVID-19 cases, […]

Mandalay wholesale centre to reopen

The Mandalay wholesale center of Brokers Traders & Millers Ma Har Ka Htain Taw Association is set to reopen its doors on January 21. Secretary of the centre, U Set Maung Swe, said the resumption of operations will be done in line with current COVID-19 rules and regulations. The centre was closed at the end […]

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 […]

Businesses positive of reform, policy change in post-election Myanmar

Myanmar’s incoming government was urged to consult and work more closely with the private sector and scale up COVID-19 support for small businesses, corporate figures said at a forum on January 12. Speakers at the virtual panel discussion “Myanmar in 2021: Navigating Reform, Recovery and RCEP” organised by the Myanmar-Hong Kong Chamber of Commerce and […]

Myanmar’s fintech startups go from strength to strength

Myanmar’s fintech sector is set to ride a tailwind in 2021, as strong interest from investors, government support, and consumer confidence provide a shot in the arm for the local fintech startups, with the COVID-19 pandemic hastening adoption in a country where cash has long been king. “Among different fintech verticals, payments have experienced the […]

Chief Minister calls for systematic maintenance of Smart Island in Myeik archipelago

The smart island of this kind in the Myeik archipelago is unique and rare in the world so conservation is necessary, said Taninthayi Region Chief Minister Myint Maung. The smart island also called Parpant island located in Kyunsu Township, Myeik District, has two different beaches—one full of white sand and the other full of colourful […]

40% of Myanmar’s population to be vaccinated against COVID-19 in 2021

Myanmar plans to vaccinate 40% of its population against COVID-19 in 2021, said Dr. Khin Khin Gyi, director of the Contagious Disease Prevention and Eradication Division under the Ministry of Health and Sports. Myanmar has received 1.5 million doses of the COVID-19 vaccine from India as per an earlier agreement. This translates to vaccination for […]

Domestic fish industry flounders due to COVID-19 pandemic

The COVID-19 impacts resulted in less fish consumption, according to the Myanmar Fisheries Federation (MFF). The coronavirus pandemic shut down the wedding, donation events, festivities and restaurants. It also poses difficulties in transportation. The restrictions caused a slump in fish consumption in the local market. Moreover, the individual income loses from heightened COVID-19 measures such […]