Myanmar’s manufacturing PMI rises to 49.3 in August

TOKYO — The Nikkei Myanmar Manufacturing Purchasing Managers’ Index, or PMI, rose slightly to 49.3 in August from 49.1 in July. A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction. The latest data marked the third consecutive month of contraction. “Higher raw material prices were commonly cited as the […]

Myanmar opts for domestic power generation

Plans are underway to generate electricity from local power plants even though China, Thailand, Laos and India have offered to sell their electricity to Myanmar, a senior official of the Ministry of Electricity and Energy (MOEE) said. Details on arrangements to buy electricity from other countries have yet to be made available, and is not […]

Electricity price hike set for April 1

In an effort to reduce state spending, the Pyidaungsu Hluttaw last week voted to move forward with a plan to increase the price of electricity as of April 1 for households by as much as 42.8 percent for units used over a certain threshold, parliament announced last week. Though households will still pay K35 per […]

Myanmar gets new SEZ law

In an effort to draw more foreign interest in Myanmar’s future Special Economic Zones (SEZ), the state-run media last week announced the promulgation of a new SEZ law, superseding the relevant laws adopted by the former military regime in 2011. “The new law seems to decentralise decision-making to the SEZ committee, so that central government […]

Myanmar’s clothing industry promises growth

Myanmar’s clothing industry is expected to grow as a result of the country’s readmission to a preferential EU trading scheme, according to sources from the industry. The European Union readmitted Myanmar to its trade preference scheme on June 12 which grants developing nations preferential access to the 27-nation bloc for several products in the form […]