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 […]

Myanmar, S. Korea Pledge to Step Up Cooperation on Trade, Investment, Energy

YANGON—Myanmar and South Korea have agreed to cement their economic cooperation, particularly in the trade, investment and energy sectors, to help Myanmar overcome the economic fallout from the coronavirus pandemic. Speaking via videoconference during Wednesday’s first meeting of the two countries’ Joint Commission for Trade and Industrial Cooperation, South Korean Trade, Industry and Energy Minister […]

Despite Current Economic Fallout in Myanmar, ADB Forecasts a Bounce

YANGON — Although Myanmar’s GDP growth has fallen to 1.8 percent due to the effects of COVID-19, the Asian Development Bank (ADB) has reported that growth is forecast to bounce back to 6 percent in 2021. The bank’s Wellness in Worrying Times: Asian Development Outlook 2020 forecasts Myanmar’s GDP growth for the fiscal year ending […]