Trade on the rise, more FDI needed: U Ye Min Aung UMFCCI VP

U Ye Min Aung, vice president of the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry, told the Global New Light of Myanmar his views on Myanmar’s economy in an exclusive interview. Q: Please tell us about the current economic situation in Myanmar? A: At the present period, global economy […]

Japan constitutes nearly half of FDI in Thilawa SEZ

Japan has put investments of US$468 million into Thilawa Special Economic Zone (SEZ) so far, accounting for over 43 per cent of total foreign direct investments, according to Myanmar Japan Thilawa Development Limited. Thailand was second with FDI of over $130 million. The manufacturing industry attained the highest FDI of over US$773million, followed by the […]

Thilawa SEZ attains over US$120million FDI in two months

Over US$122million of foreign direct investments flowed into Thilawa Special Economic Zone (SEZ) so far in the current Fiscal Year 2017-2018, under previously permitted investments by Myanmar Investment Commission increasing. The investors from 16 foreign countries put investments into Thilawa.Last Fiscal Year 2016-2017 saw FDI of US$262.588million. Thilawa received FDI of nearly US$ 980million, including […]

Kyaukphyu: Asia’s Next Commercial Hub to Rival Singapore and Hong Kong

In a 13-minute project promotion video China International Trust and Investment Company (CITIC) celebrates the wonder of Asia’s rapid development with portraits of the pre-industrial ports of Singapore, Hong Kong and Taiwan’s Daxi fade into their modern incarnations of high-rise glass and steel marvels. The final image, however, is particularly jarring: a container ship approaches […]

China-Myanmar oil, gas project benefits both

The China-Myanmar crude oil and gas pipeline, a pioneer project of the China-proposed Belt and Road Initiative, has brought tangible benefits to both sides, and won broad support. The pipeline project consists of a crude oil pipeline and a natural gas pipeline, which run from the port of Kyaukpyu on Myanmar’s west coast to Ruili […]

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 […]

After decades of decay, Myanmar bets on Thilawa to lead industry boom

From the banks of the Yangon River rises Myanmar’s great economic hope, a $1.5 billion manufacturing complex designed to lure investment and help the impoverished country compete in the global marketplace. The first phase of the 2,400-hectare (5900-acre) Thilawa Special Economic Zone (SEZ), an hour from the commercial capital Yangon, is only months away from […]

Myanmar pipeline project gives China pause for thought

China National Petroleum Corporation (CNPC) on June 4 announced the completion of its Sino-Myanmar gas pipeline project (Myanmar section), signaling that it is ready to enter trial production. The oil pipeline between the two countries is currently 94 percent complete. As China’s fourth largest strategic energy import channel, the China-Myanmar Oil and Gas Pipeline Project, […]