Myanmar’s economy to shine in 2020?

It was reported recently that the ASEAN +3 Macroeconomic Research Office (AMRO) had given Myanmar’s economy a positive outlook for the fiscal year of 2019 to 2020, expecting it to expand by 7.1 percent up from 6.8 percent in the previous fiscal year. This is largely thanks to reform momentum, improving business sentiments, growth in […]

ADB Forecasts Myanmar’s Economy to Resume Growth This Year

YANGON — The Asian Development Bank (ADB) expects Myanmar’s economy to resume growth this year and continue to expand in the next thanks to more foreign investment and a positive response to the government’s economic and policy reforms. The Asian Development Outlook 2019 forecasts Myanmar’s economy to grow by 6.6 percent in 2019 and by […]

Myanmar’s economy depends on Rakhines stability: trade body

Despite rich resources and good geographical location, Rakhine State has many challenges to overcome if it is to attract foreign investments, people in the business community say. “Foreign investments have slowed due to conflict in the state. The economy of Rakhine needs to be promoted first and only when it is conducive, will problems such […]

Midterm report card: Myanmar’s economy is not working

In another 2.5 years’ time, many voters will be asking what the first NLD-led administration has delivered. The current numbers are hardly encouraging. Between April and August this year, approved FDI totalled US$1.4 billion, less than half of the US$3 billion forecast by the government for the April-September six-month period between the two fiscal years. […]

We speak to the GM of Grand Mercure in Myanmar – Accor’s latest gem in the “land of gems”

Grand Mercure recently announced the opening of its first property in Myanmar. One of Southeast Asia’s largest and most diverse countries, Myanmar remains one of the most undiscovered destinations but is emerging as a popular travel destination. According to the United Nations World Tourism Organisation, the country welcomed just 21,000 international arrivals in 1990, that […]

New, Improved Deal on China-Backed Kyaukphyu SEZ Due Soon: Deputy Minister

YANGON — Since the 2015 elections that swept the National League for Democracy (NLD) to power, the government has been negotiating with the China International Trust and Investment Corporation (CITIC) to raise Myanmar’s stake in the Kyaukphyu SEZ in Rakhine State. The shareholders agreement CITIC struck with the previous government, under President Thein Sein, just […]

How EuroCham Myanmar helps Myanmar’s economy

Filip A. Lauwerysen is the Executive Director at the newly established EuroCham Myanmar (European Chamber of Commerce in Myanmar) since September 2015. Mr Lauwerysen is a Dutchman who graduated from Leiden University in the Netherlands with a Bachelor and Master of Arts in History, specialised in European globalisation (mainly in Asia). Then he also went […]

Myanmar can become middle-income country by 2030: Prabir De

Myanmar can become a middle-income country by 2030 and triple its per capita income, says Indian economist Prabir De. In a book “Myanmar’s Integration with the World” co-authored with Ajitava Raychaudhuri, that was released during the first India-Myanmar dialogue, De says Myanmar can become one of the fastest growing economies and grow at 7-8 percent […]

Myanmar tycoon says economy neglected by Suu Kyi’s government

Myanmar tycoon Serge Pun, one of the wealthiest men in Asia, said on Thursday the government led by Aung San Suu Kyi has neglected the nation’s much-needed economic reform. Pun, head of property-to-banking conglomerate First Myanmar Investment 00001.YG, urged authorities to give more attention to growth in one of the region’s poorest countries. He said […]

Myint and Associates Telecommunications Enter Agreement to Resell Data Centre Space to Local, Foreign Companies

Local data centre operator Myint and Associates Telecommunications (MAT) has signed an agreement to allow ICT solutions company NTT Communications to resell space from its Yangon data centre to local and international clients. NTT Communications will purchase what is known as server collocation space from MAT’s own data centre and then resell it on to […]