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Myanmar seeks to establish Myanmar-India-China economic corridor

As part of efforts to make Myanmar the doorway to ASEAN door, the government will try to establish a Myanmar-India-China economic corridor, says Yangon Region Chief Minister U Phyo Min Thein. The potential for Myanmar to become a trade hub is good because of its location between two rapidly developing countries with large populations U […]

Taking a Quantum Leap to Revamp Myanmar’s Economy

YANGON—Since last year, Myanmar officials responsible for drumming up foreign investment have been shuttling between Naypyitaw and Asian countries to pitch the government’s latest legal, procedural, and institutional reforms to potential investors as part of efforts to revitalize the country’s economy. State Counselor Daw Aung San Suu Kyi often highlights foreign direct investment (FDI) as […]

Bridging the gap: Yangon’s boom falls short across river

On her scruffy, downtrodden bank of the river, teashop-owner Khin works just a few hundred metres across the muddy water from Yangon and dreams of the riches promised by a new bridge linking to Myanmar’s commercial heart. “The quicker, the better,” 58-year-old Khin Than Myint tells AFP of the construction of the US$168 million bridge, […]

Can we turn suspended factories into engines of national economic growth?

Steel is an essential material in the industrial products and in building infrastructures. If Myanmar can produce steel on commercial scale, we will be able to save our foreign exchange used in importing steel products and build an industrialized country. In fact, the country has large deposits of iron ore. Myanmar set up steel mills […]

South Korean President Enhances Bilateral Economic Ties with Myanmar

YANGON- The president of South Korea pledged to accelerate Korea’s economic presence and to cooperate on development in Myanmar after meeting with the Myanmar State Counselor in Naypyitaw on Tuesday. The trip is a part of his “New Southern Policy” to deepen relations with Southeast Asian nations, including in the economic realm. Moon Jae-in arrived […]

LexisNexis to Help Develop Property Data System for Myanmar’s Commercial Capital

YANGON—The Yangon regional government on Wednesday signed a memorandum of understanding (MOU) with LexisNexis Southeast Asia, a provider of information analytics, to help set up a reliable housing and real estate information system (HREIS) for Myanmar’s commercial capital. According to the regional government, LexisNexis will carry out the initial analysis for the HREIS, the first […]

New entrepreneur’s association formed to voice concerns

Myanmar entrepreneurs now have a new platform to voice their concerns and to share knowledge and experience among members with the formation of the Myanmar Entrepreneurs Association (MEA). The MEA was inaugurated on August 22 with U Ko Ko Htwe as the chair of the association, while a number of industry groups including the Myanmar […]

German firm to advise central bank of Myanmar on licensing foreign lenders

Amid the ongoing liberalization of Myanmar’s financial sector, the central bank has hired a German consulting firm to provide advisory services on the process of awarding licenses to foreign banks looking to do business here. The Central Bank of Myanmar (CBM) announced on Tuesday that Germany’s Roland Berger Company Limited was chosen from among four […]

Myanmar appoints ex-world bank economist deputy minister

The Myanmar President’s Office on Thursday appointed former World Bank economist and poverty specialist Dr. Min Ye Paing Hein as deputy industry minister. Among his responsibilities will be promoting private investment in state-owned enterprises to make them commercially viable. Aged 41, the holder of a PhD from a US university will be the youngest minister […]

Conglomerate proposes development of Thanlyin industrial park

Local conglomerate Tah Moe Hnye Group Investment and Development Co Ltd is proposing the development of an industrial park in Thanlyin township, Yangon Region. The Thanlyin industrial park, located just southeast of the commercial capital of Yangon across the river, is one of 11 new industrial parks proposed by the regional government at the Yangon […]