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Magwe on track to see more investments this year

Magwe Region received K1.5 billion (US$966,000) in investments between last October and April this year, says Regional Minister for Planning and Development U Zaw Min. The investments, all from local businesses, created 134 local jobs between October 2018 and April 2019. In the 2017-2018 fiscal year, the region received six domestic investments totalling K1.57 billion […]

NLD calls bureaucracy ‘stumbling block’ in reforms

A spokesperson for the ruling party has blamed “some in the bureaucracy” for the country’s poor economic reform, saying excessive redtape is a “stumbling block in Myanmar’s democratic transition”. U Myo Nyunt, spokesperson of the National League for Democracy (NLD) party, made the comments during an interview with Chinese media group Caixin’s subsidiary publication Globus […]

New investment-related ministry to be announced

The National League for Democracy-led government is going to add one more ministry soon which is likely to deal with investment matters. The name of the new ministry and its responsibilities will be explained by a union minister during the parliament session today, according to the agenda of the Pyidaungsu Hluttaw. The Myanmar Times tried […]

Govt racks up larger debt, but more is local

The NLD government has accumulated debt totaling K6.7 trillion during the duration it has been in power, according to documents supporting the 2018-19 Budget. That’s more than half the K11.7 in debt racked up by U Thein Sein’s former administration during its entire five-year term. However, while U Thein Sein’s Union Solidarity and Development Party […]

Can China-Myanmar Economic Corridor overcome hurdles to progress?

Recently, U Aung Naing Oo, director general of the Directorate of Investment and Company Administration of Myanmar, said that Myanmar and China will soon sign a Memorandum of Understanding (MoU) on building the China-Myanmar Economic Corridor (CMEC), one of the key projects of the Belt and Road initiative (BRI). The two sides reached a 15-point […]

New Yangon City Project CEO Questioned About Role of Chinese Firm

YANGON—Serge Pun, the CEO of the controversial New Yangon City project on Saturday partially disclosed the terms of a deal with a Hong Kong-listed Chinese firm that could see it provide infrastructure for the first phase of the development. The revelation came amid a question and answer session at a public meeting organized by the […]

Myanmar drawn into China’s shadow

Myanmar has been drawn into the sphere of influence of its superpower neighbour – China – advancing the Chinese geostrategic interests through the so-called “Guanxi” diplomacy as Western powers retreat from the country, a local think tank has said in a report. The Institute of Strategy and Policy (ISP)-Myanmar said in a report released in […]

NLD government to face tougher challenges in 2018

Among the many countries struggling for democracy, some succeed, some fail, while others slide back after a few measures of success. Myanmar is one of these countries, which recently gained democracy through peaceful reforms and elections but now appears to be sliding back to its old draconian ways. After more than 20-year military rule, the […]

The Europeans are back in town

With the 26th annual European Film Festival upon us, Myanmar film censors have their scissors at the ready Less than two weeks after the end of the Wathann Filmfest, another film festival has arrived in town. The 26th annual European Film Festival will see 13 films from 11 European countries screened over 10 days at […]

Faster, easier loans for Mandalay SMEs

The chair from Loan Implementation sub-committee, U Maung Maung Win, who is also the deputy minister for planning and finance, headed the meeting. It was held on Sunday at the Mandalay Regional Chamber of Commerce (MRCCI) premises. U Maung Maung Win said a working committee will ensure that a separate loan facility will be set […]