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IFC report recommends alternatives to high-risk Myitsone

A government-sponsored study warned against restarting the highly controversial Myitsone dam and recommended alternatives to develop the country’s hydropower sector. The final version of the Strategic Environmental Assessment (SEA) of the hydropower sector, supported by the energy and environment ministries and authored by the International Finance Corporation, has been published. The SEA involved a range […]

Ministry of Planning and Finance to set up Project Bank

‘The project bank will enhance transparency and competitiveness’: U Set Aung The Ministry of Planning and Finance is preparing to launch an interactive and publicly accessible online “project bank” containing priority initiatives that have been screened and approved by the government for their positive impact on economic and social development. The initiative aims to overhaul […]

Invest Myanmar Summit 2019, 28-29 January 2019 Nay Pyi Taw

Invest Myanmar Summit 2019 is a collaboration between the Union Government of Myanmar, the Region States of Myanmar and the business community to create a platform for businesses to meet. The two-day event is designed to provide international and local investors the opportunity to discover the investment potential of Myanmar. It is a platform where […]

Project bank to facilitate infrastructure development established

A Project Bank of Public Investment Programs to facilitate major project proposals from the States and Regions has been established under the Myanmar Sustainable Development Plan (MSDP), Minister of Planning and Finance U Soe Win said during the 2018 Commerce Fair held in Yangon on December 1. “Currently, Myanmar still lacks basic infrastructure. If this […]

Beijing Urges Gov’t to Get Ball Rolling on China-Myanmar Economic Corridor

The vice chairman of China’s top economic planning agency has pushed Myanmar’s State Counselor to work out an implementation plan for the China-Myanmar Economic Corridor, a part of Beijing’s Belt and Road Initiative (BRI). China National Development and Reform Commission (NDRC) Vice Chairman Ning Jizhe held talks with State Counselor Daw Aung San Suu Kyi […]

Don’t blame “economic malaise” on Rakhine, business groups warn, calling for less protectionism, gerontocracy

Two major business groups in Myanmar have warned against blaming all of the country’s economic woes on the northern Rakhine crisis, urging the government to tackle protectionism, involve the younger generation and provide clarity in the regulatory environment. The British Chamber of Commerce Myanmar (BritCham) said Rakhine is “far from being the sole or main […]

Fitch Solutions downgrades Myanmar’s construction outlook on Rakhine and reform inertia

Consulting firm Fitch Solutions Macro Research downgraded the growth forecast for Myanmar’s construction industry, saying economic reforms which would boost infrastructure development had been knocked off course and the northern Rakhine crisis would weigh on the economy. Fitch Solutions Macro Research, a unit of London and New York-headquartered Fitch Group, on Friday cut the expectations […]

Viability of infrastructure projects essential for investments

Sean Turnell, economic adviser to the State Counsellor, said the country’s macro-economy is “remarkably robust and resilient” despite the odds during the Myanmar Global Investment Forum by Euromoney held in Nay Pyi Taw yesterday. The adviser cited the World Bank’s estimate of 6.7 percent GDP growth in 2018-19 and said that the budget deficit has […]

State Counselor Offers Reassurances Amid Economic Woes

YANGON—Myanmar’s State Counselor Daw Aung San Suu Kyi offered words of reassurance to the business community regarding the current economic slowdown saying that her government is working to deal with some major complaints, though the progress will take time. At a meeting with members of the business community in Naypyitaw on Monday, Myanmar’s State Counselor […]

Myanmar urged to fix key issues for industrial revamp

MYANMAR’S potential to become a regional investment hub would be realised only if the government manages to address major challenges businesses are facing in the nation, a banking expert has warned. Than Lwin, a senior consultant at KBZ Bank Ltd and former deputy governor of the Central Bank of Myanmar (CBM) stressed the importance of […]