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Myanmar to Launch Investment Policy Review

YANGON—Myanmar has finalized its second Investment Policy Review (IPR) with the help of the France-based Organization for Economic Cooperation and Development (OECD) to identify further policy reforms needed to make the country a more attractive destination for quality, responsible investment for both foreign and local investors. At a press conference in Naypyitaw on Wednesday, the […]

Myanmar projected to grow at 0.5pc, poverty rates to rise: World Bank

The global consequences of the COVID-19 pandemic is dealing a severe blow to Myanmar’s economy, the World Bank said on June 25. As a result, the country’s economy is forecast to expand by just 0.5pc in the current fiscal year, compared to 6.8pc in fiscal 2018-19. If the pandemic draws on for much longer, the […]

World Bank: Myanmar Economy to See Growth Drop by 6.3% This Fiscal Year Due to COVID-19

YANGON—The latest report from the World Bank says Myanmar’s economic growth could drop from 6.8 percent to 0.5 percent this fiscal year, as the country has been severely hit by impacts from COVID-19. The 2019-2020 fiscal year began on Oct.1, 2019 and ends on Sept. 30. “The global COVID-19 pandemic is dealing a severe blow […]

Myanmar to hold general election on Nov 8

YANGON: Myanmar will hold its next general election on Nov 8, the country’s election commission announced on Wednesday (Jul 1), in a test for the country’s fledgling democratic government led by Aung San Suu Kyi. The Nobel laureate ushered her National League for Democracy (NLD) to a landslide victory in 2015 polls after five decades […]

Myanmar to lure investments in healthcare, agri and industry

Myanmar will focus on drawing investments into healthcare, agriculture, livestock and fisheries and industrial zones in the wake of COVID-19, said U Thant Zin Lwin, Director General of the Directorate of Investment and Company Administration. “We will prioritise attracting investors in these three sectors after experiencing COVID-19 this year. In healthcare for example, businesses that […]

Myanmar govt commits to new refinery projects with private sector

The Ministry of Electricity and Energy (MOEE) is making plans to build new oil refineries in Myanmar to meet domestic oil demand and boost energy security in the country, said U Tin Maung Oo, Permanent Secretary of the MOEE. The new refinery projects will be implemented with the private sector under Public Private Partnership schemes, […]

Street vendor builds Yangon’s top seafood chain

YANGON — In 1987, when Khin Khin San was 13, she began selling bowls of mont ti fish soup under the shade of a tamarind tree in the western Myanmar state of Rakhine, where the rice noodle dish is fishier and fierier than elsewhere in the country. Sometimes she would hawk mont ti with her […]

How agritech solutions are shaping Myanmar’s digital economy

Agritech solutions are at the forefront of Myanmar’s emerging digital economy Apps such as Green Way & Htwet Toe are helping to solve productivity issues in the agriculture sector, where 65% of the Myanmar population works Just five years ago, owning a smartphone in Myanmar would have been an outrageous extravagance, and even then there […]

Myanmar fruit export revenues stable due to strong banana demand

Revenue from Myanmar’s fruit exports have reached US$370 million in the current fiscal year, which is on par with revenues generated over the same period in the previous fiscal year despite COVID-19, according to the Myanmar Fruit, Flower and Vegetable Producer and Exporter Association. This was due to higher demand from China for good quality […]

Myanmar Extends Travel Ban, Curfews to Contain Virus Spread

Sign up here for our daily coronavirus newsletter on what you need to know, and subscribe to our Covid-19 podcast for the latest news and analysis. Myanmar is imposing a 15-day extension of its virus measures and directives until July 15 to prevent the spread of the pandemic from inbound travelers and within the country. […]