China’s plans for Myanmar town hold few local opportunities

KYAUKPYU, Myanmar (AP) — China’s plan for its foothold on the Bay of Bengal, on Myanmar’s western coast in restive Rakhine state, includes an industrial zone, oil refinery and deep-water port that could transform a sleepy, remote town of 30,000 into a thriving business hub. The plan for Kyaukpyu is central to Beijing’s ambitions in […]

Economic sanctions can no longer power Myanmar’s democratic transition, US ambassador says

US Ambassador to Myanmar Scot Marciel yesterday defended the decision to purge the sanctions list, referring to the embargoes as no longer politically expedient and a constraint on trade between the two countries. “The cost of maintaining sanctions is greater than that of easing the sanctions,” he said, adding that the decision had been thoroughly […]

Myanmar kicks off investment law modernisation

Until March 26, the Myanmar government will welcome civil society consultations on a new investment law, which will combine the Myanmar Citizens Investment Law and the Foreign Investment Law. Titled “The Investment Law of the Republic of the Union of Myanmar”, the law was drafted in cooperation with the World Bank’s financial arm, the International […]