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 […]

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 […]

High holiday count among productivity worries this year in Myanmar

Low private-sector productivity is one of the factors that could challenge growth in Myanmar and the number of public holidays in the country this year is among the top productivity killers, manufacturers said. Myanmar will have a total of 27 public holidays in 2020, which is nearly a month, excluding Saturdays and Sundays. By comparison, […]

FDI to drive Myanmar’s growth, but political risks remain

Myanmar’s economy could grow at 6.6 per cent annually until 2030, thanks to solid investment gains, improved productivity and favourable demographics, even as weak business conditions and political risks threaten to dampen investment inflows, Oxford Economics said in a report. “We expect capital deepening to continue supporting growth, with investment to increase at a healthy […]

Growth potential in agriculture restricted by quality, other issues

In Myanmar, agriculture contributes to a third of the country’s GDP, a quarter of its exports and creates the bulk of job opportunities. Yet, the sector’s true potential remains restricted by poor access to finance and technology, limited infrastructure, complex land tenure and quality issues as well as weak supply chains. Nevertheless, demand for products […]

Nay Pyi Taw real estate market seeing growth

As more and more people are moving to Myanmar’s capital Nay Pyi Taw, demand in the real estate market has been growing year by year, says Zayar Real Estate Agency’s managing director U Nanda Kyaw. “As new companies and offices move, there are more and more people who want to buy property to set up […]

Myanmar climbs six spots in world bank ease of doing business ranking

Myanmar moved up six places to 165th on the World Bank’s 2020 ease of doing business ranking in the bank’s latest report, which cites several reforms including creating an easier environment for starting a business and greater protections for minority investors. On Thursday, the World Bank’s latest report on ease of doing business ranked documented […]

South Korean president to visit Myanmar on sept. 3

South Korean President Moon Jae-in and his wife will pay a state visit to Myanmar on Sept. 3 at the invitation of the Myanmar President and First Lady. The visit will be part of Moon’s six-day tour of the region beginning Sept. 1 to build closer ties with Southeast Asian countries. He will first visit […]

News myanmar strategic opens first international school in yangon

Myanmar Strategic Holdings Ltd said the Yangon American International School officially opened on Monday. The developer and manager of consumer businesses said the school is based in Yangon and has a 25,000 square foot campus. Student enrolment for the school has already exceeded 50 students to-date, Myanmar Strategic said. The school will offer an American […]

SMEs need policies tailored for growth to flourish: MRCCI

The Mandalay Region government needs to have specific policies to boost small-and-medium enterprises (SMEs) in order to attract and grow high-skilled jobs. The Mandalay Region Chamber of Commerce and Industry (MRCCI) unveiled the 2019-2022 Mandalay Region Business Agenda last month suggested several initiatives including for taxation, regulations, labour and education that the regional government can […]