EU Myan Ku Fund for garment workers extended amid coronavirus economic fallouts

Doubling support to 10 million euro, the EU Myan Ku Fund has been extended to help the tens of thousands of mostly unemployed women migrant workers in the sector amid the global economic crisis. The EU Myan Ku Fund’s extension phase is planned to operate from January 2021 until February 2022. Financial support for laid-off […]

ADB approves $171-mln loan to expand electricity access in Myanmar

The Asian Development Bank (ADB) has approved a US$171.27-million loan to expand electricity access in Myanmar. ADB provided $171.27-million loan to help Myanmar construct 44 medium-voltage substations and 1,006 kilometres of distribution lines across Kayin state and the Ayeyarwady, East Bago, and Magway regions. The Accelerated Rural Electrification Project will expand the electric grid to […]

Amid the pandemic, Avis Myanmar plans to invest around USD 4 million for their new fleets expansion and two new rental outlets in Myanmar

Avis, one of the world’s leading car rental brands, has marked its first year journey in Myanmar with the plan to continue their footprint and investment in the country amid the global pandemic COVID-19.The company has been providing the global standardization for short and long-term vehicle rental services with fresh new fleet for individual as […]

RCEP opens up a New Chapter for Myanmar

Last Sunday, I had the distinct privilege of representing Myanmar as our nation took yet another bold step forward in signing the Regional Comprehensive Economic Partnership (RCEP). In doing so, 15 partner nations – the 10 ASEAN member states together with Australia, China, Japan, New Zealand, and South Korea – joined forces in forming the […]

New Myanmar economic recovery and reform plan to include agriculture improvements

The government is drafting plans to reform the agriculture sector in line with the Myanmar Economic Recovery and Reform Plan (MERRP), which is now being drafted, according to the Ministry of Agriculture, Livestock and Irrigation (MOALI) in a November 18 statement.While the plan has yet to be finalised and made official, MOALI understands it includes […]

After the COVID election NLD has their job cut out for them

Myanmar’s “Covid election” has dominated the local psyche for more than a month now. The coronavirus crisis changed the nature of campaigning for the Nov 8 polls, severely affected the voting process and delayed the second stage of the government’s pandemic recovery plans. While everyone was preoccupied with the polls, the country was virtually on […]

No Change in Our Commitment to Support Myanmar’s Economic Development: Japanese Ambassador

The National league for Democracy (NLD) won another landslide in the Nov.8 election, and soon afterwards the Arakan Army (AA) requested that elections be held by the end of December in townships that could not vote Nov. 8 due to armed conflicts. Myanmar’s military welcomed the statement and showed willingness to hold the elections in […]

ANALYSIS: Suu Kyi’s election win to boost China-Myanmar ties, hasten economic recovery

HONG KONG, Nov 12 – The imminent victory of the ruling party in Myanmar’s general elections will help consolidate bilateral relations between Myanmar and China, with analysts expecting China to play an important role in its neighbor’s economic recovery. The National League for Democracy, or NLD, led by State Counselor Aung San Suu Kyi, is […]

Myanmar’s economic growth to recover but FDI under threat: ADB

Myanmar’s economic growth is expected to recover in the coming 2020-21 fiscal year, but the impact of a weakened global economy may affect foreign direct investments (FDI) into Myanmar in the future, according to a recent outlook report by the Asian Development Bank (ADB). Myanmar FDI approvals increased to US$4.3 billion for the three quarters […]

Myanmar businesses expect stronger economic agenda in November elections

Traffic passes along Sule Pagoda Road in downtown Yangon. Photo: Nyan Zay Htet/The Myanmar Times Myanmar businesses expect stronger economic agenda in November elections While economic growth has not been listed as one of the top three priorities in the ruling party’s manifesto, politicians are paying more attention to the private sector ahead of the […]