Beyond China: Nation must diversify FDI

While for a long time the world has been focussed on political reforms in Myanmar during its transition from military rule to a democracy, the country has also witnessed a significant economic transformation. The most obvious sign of this is the sudden jump in foreign direct investment (FDI), from US$4 billion (K5.46 trillion) in 2013-14 […]

Myanmar Economy Needs ‘Predictable Policy,’ New Reform Leader Urges

NAYPYITAW — “Winston” Set Aung, Myanmar’s newly-appointed deputy minister for national planning and finance, has urged fellow government leaders to pursue further regulatory and policy reforms for the economic development of Myanmar during a panel session at the Myanmar Democratic Transition Forum. “It is required to establish predictable and stable policy with clear and simple […]

Suu Kyi’s dilemma over Myanmar energy mix

YANGON — When Aung San Suu Kyi’s National League for Democracy was swept into power in 2015, economic development was a key priority and the fledgling government’s social and environmental stance seemed tailor-made for foreign investors. But few foresaw the complexity of adhering to core environmental principles while also dragging a long-neglected economy into the […]

Suu Kyi Government Brings Back Myanmar’s ‘Mr. SEZ’

YANGON — Myanmar’s government has brought a key architect of the previous administration’s economic policy back into the fold, aiming to bolster confidence in the business community. President Htin Kyaw’s office on Monday announced the appointment of Set Aung, until recently the deputy governor of the central bank, as deputy minister for national planning and […]

Minimum wage war in Myanmar

Factory owners are under pressure to raise worker wages but any dramatic rise could discourage foreign brands from investing in the low-cost nation When Myanmar passed its first minimum wage in September 2015, the legislation was widely hailed as a landmark achievement for labor rights and clear sign the country was firmly on the path […]

New Myanmar oil pipeline bolsters China’s energy security

The opening of an oil pipeline through Myanmar is a big step forward for China’s energy security, reducing the major importer’s reliance on shipments through waters where the U.S. exerts strong influence. Chinese President Xi Jinping and Htin Kyaw, his counterpart from Myanmar, agreed Monday to activate an oil pipeline stretching roughly 770km from Kyaukpyu, […]

Myanmar opens Thilawa SEZ to foreign insurers

Myanmar is opening up its Thilawa special economic zone near Yangon to international insurance companies — part of a market liberalization effort expected to gain momentum this year. The government does not allow foreign insurers to offer their services outside of Thilawa — a Myanmar-Japanese joint venture and the country’s only operational SEZ. Only three […]

Can Myanmar sustain growth momentum?

YANGON — The World Bank’s forecast on Jan. 30 that Myanmar’s economy will grow by more than 7% annually for the next three years might appear to be overly optimistic. In the latest issue of its Myanmar Economic Monitor, the World Bank said that while growth would most likely be around 6.5% for fiscal year […]

Myanmar’s FDI rush recedes

Myanmar’s economy looked like it was enjoying a brisk tailwind after progress in democratization led the U.S. to lift its sanctions last year, but the boost appears to be waning. The government that took office in March 2016, with pro-democracy icon Aung San Suu Kyi as its de facto leader, has so far proposed few […]

Create Jobs in Myanmar, Suu Kyi Tells Japan Inc.

TOKYO — Myanmar’s Aung San Suu Kyi urged Japanese business leaders Friday to invest in the Southeast Asian nation in ways that will create jobs. Myanmar’s youth have few employment opportunities, making economic growth difficult, the state counselor said during a meeting in Tokyo with officials from groups such as the Japan Chamber of Commerce […]