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Mandalay property market hits COVID-19 doldrums, but prospects intact

Mandalay’s real estate sector had been growing steadily before the COVID-19 pandemic struck but land prices may now start falling, opening up a rare opportunity for buyers to take a serious look at the market, according to a major developer in Myanmar’s second largest city. U Kyaw Kyaw Win, head of New Star Light Group, […]

World Bank’s Myanmar Economic Monitor 2020

Executive Summary   The Covid-19 pandemic has interrupted Myanmar’s economic expansion, and while Myanmar is expected to narrowly escape a recession, helped by a strong start to the fiscal year, policy responses, and the limited disease outbreak, the growth recovery is at great risk. Myanmar’s GDP growth is estimated to drop from 6.8 percent in […]

China’s coronavirus hits Myanmar economy

China’s coronavirus epidemic is hitting Myanmar’s important manufacturing and tourism industries as well as disrupting border trade, but in the longer term the crisis could encourage more supply chain factories to relocate from its giant neighbour. “We have lost all our customers,” said Ma Khin Khin Win, director of tourist agency Myanmar YoYo Travels and […]

‘Myanmar manufacturing lifted by higher output, new orders and jobs’

Ihs Markit, a London-based information provider, says that Myanmar’s Manufacturing Purchasing Manager’s Index (PMI) has been lifted by sharper growth of output, new orders and jobs. The business information provider said this in a press statement issued on Monday. The release said, “Business conditions in Myanmar’s manufacturing sector improved at the start of 2020, according […]

Malaysian investors attracted to Myanmar despite rift over Rakhine

Investors from Malaysia say they are attracted to Myanmar’s agriculture and other industries despite the rift between the two governments since the northern Rakhine crisis. “Malaysian businesses are keen to invest in sectors such as technology, construction, manufacturing, and service in Myanmar. They showed extra interest in agriculture-based businesses,” said Gilbert Lee, president of Malaysian […]

Zone for agriculture, manufacturing to be built in Thabeikkyin

A special zone will be built in Mandalay Region’s Thabeikkyin township to produce value-added products from agricultural goods and livestock, according to Pentagon Group (Myanmar) Co Ltd. The project will be located on 3237 hectares in Ohn Ta Kue, Ohn Paing, Pay Taw and Gway Maw villages. The company has sought a land-use permit for […]

Toyota to build first Myanmar assembly plant in Thilawa

Japan’s Toyota Group will start building an assembly plant in Thilawa Special Economic Zone (SEZ) this year, according to a Myanmar Times source. Toyota Motor Corp, the automobile branch of Toyota, will invest several billion yen for the facility to manufacture pick-up trucks through semi-knockdown (SKD) production for the Myanmar market. An official announcement will […]

Bonded warehouse programme set to provide boost to Myanmar industries

The Customs Department, Ministry of Planning and Finance, and the DaNa Facility, a UK aid funded programme, yesterday launched the Developing Custom Bonded Warehouse programme to introduce customs officers and relevant stakeholders to the potential of a bonded warehouse system in supporting the local industry. Bonded warehouses are specifically designed to support industry, particularly those […]

Myanmar’s First Signature Watch Sports a Vintage Flair

A young man’s watch-collecting hobby developed into a skill after he learned to assemble and repair them himself. Kyaw Thura Naung eventually developed his own brand, Mandalay Watch, and it has become highly sought after. “Back in 2014, when I was studying in a foundation year program in Manchester [in the U.K.], I started to […]

Illicit imports threaten Myanmar’s e-commerce players

The commerce ministry committed to developing the country’s nascent e-commerce sector as a means to boost trade and create jobs, but the lack of infrastructure and rampant illicit trade pose a serious threat to the emerging industry. The report from the United Nations Conference on Trade and Development (UNCTAD) titled “Rapid eTrade Readiness Assessment of […]