Suu Kyi’s Myanmar election win fails to excite foreign investors

YANGON — Aung San Suu Kyi’s landslide Myanmar election win this month triggered a frenzy of excitement among her supporters, but it was met with cool shrugs by many foreign governments and investors seeking economic and political reform. On the polling day of Nov. 8, voters lined up from early morning to cast their ballots […]

Myanmar economy expanded during NLD govt’s term: minister

<a href=”https://youtu.be/pCvYiQYDHcE” target=”_blank”><img src=”https://consult-myanmar.com/wp-content/uploads/2013/10/doingbusinessinmyanmar-thumbnail2.jpg” width=”600″ height=”250″ /> </a> Myanmar saw a total of US$25 billion in foreign investment capital entering the economy during the National League for Democracy government’s term, said Minister of Investment and Foreign Economic Relations U Thaung Tun. He said the NLD government’s approach to social and economic reform is embodied in […]

Govt drafts new recovery, reform plan for Myanmar economy

The government is drafting a new Myanmar Economic Recovery and Reform Plan (MERRP) after a recent review of the COVID – 19 Economic Relief Plan (CERP), which was rolled out on April 27, U Thaung Tun, Minister of Investment and Economic Relations, said at during webinar organised by AusCham Myanmar last week. “We know that […]

Liquor sector among the latest COVID-19 casualty in local economy

Almost all liquor-related businesses in Yangon Region have closed and about 40 percent of liquor stores are likely to be permanently suspended, said U Myo Min Aung, chair of the Myanmar Beverages Merchants Association. “Most pubs and liquor stores had reopened after the first wave of COVID-19. Sales had yet to return to normal then, […]

Govt targets 6% GDP growth in 2020-21

Parliament has approved the National Planning Law for fiscal 2020-21, under which the Myanmar economy is forecast to grow at a rate of 6 percent. In comparison, the economy was projected to expand by 7pc in fiscal 2019-20 but due to COVID-19 is now expected to have grown by just 4.3pc instead, according to official […]

Yangon to push three large FDI projects to boost economy

Yangon to push three large FDI projects to boost economy Yangon Region Chief Minister U Phyo Min Thein, who is also chair of the Yangon Investment Committee, has revealed that the regional government is prioritising the implementation of quickly three industrial zones. Speaking at a meeting of the Yangon Investment Committee last week, U Phyo […]

How agritech solutions are shaping Myanmar’s digital economy

Agritech solutions are at the forefront of Myanmar’s emerging digital economy Apps such as Green Way & Htwet Toe are helping to solve productivity issues in the agriculture sector, where 65% of the Myanmar population works Just five years ago, owning a smartphone in Myanmar would have been an outrageous extravagance, and even then there […]

COVID-19 stalls Myanmar product-label law enforcement

Authorities are struggling to enforce the use of Myanmar language on the labels of all products on the local market due to the COVID-19 pandemic, a senior Consumer Affairs official said. U Zayar Swe, deputy director of the Consumer Affairs Department, said his agency has yet to conduct any inspections of manufactures for compliance with […]

Limited relief for microfinance borrowers as the clock ticks on debt payments

Myanmar’s five million microfinance borrowers will resume repayments on May 15, but many are now jobless or on reduced incomes because of COVID-19 and the health of the US$1.3 billion sector is unclear. By HEIN THAR | FRONTIER Ko Zaw Zaw Aung, general manager at the Kyauk Sein footwear factory in Yangon’s South Dagon Industrial […]

Myanmar economy still forecast to grow despite global recession: IMF

Myanmar is among just 10 percent of the globe projected by the International Monetary Fund to post economic growth this year. The rest of the world is expected to slip into recession. The forecast comes despite the spread of COVID-19 in Myanmar, which has already resulted in the closing of its borders, worsening conflict in […]