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Myanmar needs to accelerate economic reforms to sustain growth: ADB

Presenting an optimistic growth outlook for the current fiscal and the coming years, ADB urges government of Myanmar to continue focusing on economic reforms, particularly in the areas of public finance management, legal and regulatory frameworks and governance and accountability. Pointing out the need for prudent use of scarce resources for infrastructure and skill development […]

Leading Myanmar and Malaysia builders sign agreement to collaborate

Capital Diamond Star Group Co, one of Myanmar’s leading diversified companies, and Sunway Group of Malaysia, have signed a memorandum of understanding in Mandalay to implement infrastructure and construction projects in Myanmar. The agreement signed on April 1 will see the companies jointly investing in projects such as mixed-use developments, offices, and hotels in Yangon […]

New export strategy launched, but barriers remain

With export revenues having only increased by around US$2 billion over the past five years, Myanmar is aiming to boost its exports in the next five years by adding new sectors to its National Export Strategy (NES). Gems and jewellery, the digital economy, fruits and vegetables, agricultural product-based food products and industrial art products have […]

Growth, living standards to rise as Mandalay aims to be second growth engine

Living standards in Mandalay Region are expected to rise this year with per capita GDP rising to K1.7 million compared to K1.5 million in the past, said regional chief minister U Zaw Myint Maung at the Mandalay International Trade Fair and Business Forum held on March 23. This will come on the back of rising […]

Private Investments Worth $54M for Chin State

YANGON—The Chin State government signed four memorandums of understanding (MoUs) with private companies for projects totaling more than $54 million at an investment fair held at the weekend in Yangon, which aimed to stir up foreign investment interest in one of the poorest states of Myanmar. Among the four companies, the biggest project signed for […]

Guangdong to support Myanmar in infrastructure, productivity

Guangdong province will cooperate with Myanmar to support the development of four sectors under the Belt and Road Initiative, Mr. Ouyang Weimin, Deputy State Administrator from Guangdong province government in China, said at the China-Myanmar Trade and Investment Forum held in Yangon on March 12. Guangdong is a coastal province of southeast China which borders […]

Nine sectors to have priority under the China-Myanmar Economic Corridor

Myanmar is prioritising nine sectors covering infrastructure projects under the China-Myanmar Economic Corridor although more specific details as to which of the projects have been chosen remain under wraps. These sectors, part of the Myanmar Sustainable Development Plan, include electricity, road, bridge, telecommunication, basic construction, agriculture, transportation, research and technology. Union of Myanmar Federation of […]

The emergence of Suukyinomics

State Counsellor Aung San Suu Kyi’s National League for Democracy (NLD) administration in Myanmar has been heavily condemned by international policy analysts for its absent economic vision and lack of a tangible policy on minority management. But it seems now there is a plan: Suukyinomics, a brand that began with the announcement on 28–29 January […]

Construction of Yangon’s Outer Circular Road to Begin by Year End

YANGON—Myanmar’s Ministry of Construction has announced it will construct two circular roads inside and outside Yangon with the assistance of the Japan International Cooperation Agency (JICA). Construction of the outer road is to be divided into four phases and will start with the eastern section, according to U Kyi Zaw Myint, deputy director general of […]

Chin State offers greenfield opportunities for investors

Chin State is looking to attract local and foreign investors to accelerate the development of tourism, agriculture, livestock, and electricity generation in the state, U Aung Naing Oo, the secretary of Myanmar Investment Commission (MIC), said Tuesday. As part of efforts to attract potential investors theChin State Investment and Products Fair will be held on […]