MoU for Kyaukphyu SEZ to be Finalized in September

Ministry of Commerce is trying to finalize the MoU for Kyaukphu SEZ in Rakhine state in September of this year and will implement the zone sector by sector. Kyaukphyu Special Economic Zone Management Committee is in talk with China’s CITIC on the first stage framework agreement and the two parties have reached profit sharing ratio-CITIC […]

After Pakistan, China trying to build economic corridor to Myanmar

BEIJING: China and Myanmar are close to signing a deal on the establishment of a China-Myanmar Economic Corridor along the lines of the controversial China-Pakistan Economic Corridor (CPEC). Once launched, the project will unleash a massive inflow of Chinese funds to Myanmar which can further weaken Indian influence over its eastern neighbor. A senior Myanmar […]

Can China-Myanmar Economic Corridor overcome hurdles to progress?

Recently, U Aung Naing Oo, director general of the Directorate of Investment and Company Administration of Myanmar, said that Myanmar and China will soon sign a Memorandum of Understanding (MoU) on building the China-Myanmar Economic Corridor (CMEC), one of the key projects of the Belt and Road initiative (BRI). The two sides reached a 15-point […]

New Chair of Kyaukphyu SEZ Wary of Chinese Loans

YANGON — Myanmar will endeavor to take on no loans from China to complete the Kyaukphyu Special Economic Zone (SEZ) but would offer the developer no sovereign guarantees to mitigate risk if it does, said the project’s new chairman, seeking to allay fears of a debt trap. Sean Turnell, an economic adviser to State Counselor […]

Deputy Finance Minister Named New Chair of Kyaukphyu SEZ

YANGON — Deputy Planning and Finance Minister U Set Aung has been appointed chairman of the Kyaukphyu Special Economic Zone (SEZ) Management Committee amid the government’s ongoing efforts to renegotiate its agreement with the project’s Chinese developer to give Myanmar a larger stake. The appointment took effect on May 8 and was approved by Vice […]

Myanmar shouldn’t write off China without understanding her neighbour

An old Chinese proverb goes like this: “Three men make a tiger.” It means that if an unfounded premise is repeated many times, the premise will be accepted as the truth. Once this “tiger” is invented, it would be extremely difficult to dispel it from people’s minds, especially when we are living in a post-truth […]

China firms up ties with Myanmar

China’s emergence as a global player and its generous foreign aid to Southeast Asian countries often leads to claims that its true actions are disguised and really a means to expand its power and influence throughout the region. However, Myanmar has adeptly managed its relations with the Asian powerhouse over the years and, contrary to […]

ICBC to become major BRI financier in Myanmar

The Industrial and Commercial Bank of China (ICBC) will position itself as the main financial services provider for all projects under China’s ambitious Belt and Road Initiative (BRI), Hong Laing, Chinese ambassador to Myanmar, said at the two-year anniversary ceremony of ICBC Yangon on October 21. The BRI is a huge project backed by the […]

China, Myanmar discuss establishment of border economic cooperation zone

The establishment of China-Myanmar border economic cooperation zone is being discussed between the two governments. The government of Yunnan Province has invested US$10 billion in Myanmar, while Myanmar entrepreneurs have also invested $100 million in the province, according to a press release. The press release came after a regular meeting between the Republic of the […]

Myanmar’s bargaining power rises along the Belt and Road

AS Hong Kong’s second Belt and Road Summit started today in the city The Myanmar Times asked two experts from The Economist Intelligence Unit and Lau China Institute at King’s College, London for their input regarding the dynamics of the Belt and Road Initiative (BRI) and China in relation to Myanmar and ASEAN. Much of […]