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The world bank’s latest report on Myanmar: 5 takeaways on growth and risks

The World Bank’s latest forecast predicts that Myanmar will see positive growth, risks and challenges in the short- to mid-term future. The forecast highlights the country’s growing GDP and reductions to poverty as well as increasing inflation and fiscal deficits. The World Bank’s “Weathering Growing Risks” report for East Asia and the Pacific, released on […]

Myanmar rushes power plant projects to avoid more blackouts

Myanmar’s government is trying to address the country’s worsening power shortage, aiming to add 1,072 megawatts of new electricity generating capacity ahead of elections in late 2020. The move reflects concerns about growing public dissatisfaction over crippling power blackouts and price increases to help fund a string of power plant projects. The energy ministry announced […]

Exodus of workers grows as living costs rise in Myanmar

Despite a 30 percent hike in the daily minimum wage last year, the soaring cost of living in Myanmar is driving workers abroad for better incomes. More recently, a growing number are leaving the country illegally, braving life-threatening conditions and risking deportation to find better paying jobs in neighbouring Thailand and farther south in Malaysia. […]

Myanmar still weak in enforcing contracts, protecting minority investors

Myanmar has done undertaken two reforms to improve access to power supply and the ease of starting a local business, according to the latest report from the World Bank. However, pace of reform on most regulations affecting the private sector remain stagnant. In the newly-released World Bank’s 2019 Doing Business rankings, Myanmar ranks 171th out […]

Govt still mulling hike in electricity tariffs, explores solar options

The government is once again discussing plans to raise electricity charges to partially offset widening losses from subsidising electricity tariffs. “We need to increase prices quickly as electricity consumption is now expected to rise by more than expected,” said U Soe Myint, deputy permanent secretary of the Ministry of Electricity and Energy (MOEE). According to […]

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 […]