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 […]

Myanmar to ease restrictions on foreign investors

Reforms to Myanmar’s corporate law would allow foreigners to participate in the Yangon Stock Exchange. YANGON — Myanmar is determined to pass by the end of the year a series of bills designed to ease restrictions on foreign capital as the newly established civilian government steps up efforts to attract outside investment. The government had […]

Indian cold pills pour over remote border to fuel Myanmar narcotics boom

Five years ago, when cold pills first trickled across Myanmar’s untamed border with India, many local officials were baffled. Where was this medicine going, and why were smugglers so interested in it? Today, the cross-border trickle has become a torrent and everyone knows why the Indian-made pills are so valuable: they are bound for secret laboratories in […]

Burma Removes Hundreds of Names from Blacklist

RANGOON — The names of some 600 foreign and Burmese nationals were removed from Burma’s blacklist, the Ministry of Labor, Immigration and Population told The Irrawaddy on Thursday. A move that was pledged by Union minister Thein Swe as part of his ministry’s 100-day plan, led to the removal of 607 names—more than 200 Burmese and 300 […]

Over-Extraction, Chinese Slowdown Blamed for Jade Price Slump ​​

RANGOON — With the government’s biannual gem emporium looming at the end of this month, prices for Burmese jade have continued to slide against weakening demand. Industry insiders have blamed an economic slowdown in China, over-extraction in jade mines, and market uncertainty linked to the transition of power to a democratically elected government in Burma. […]

China seeks ‘new chapter’ in first visit with Myanmar’s Suu Kyi

HONG KONG – China and Myanmar pledged to open a “new chapter” in their sometimes strained relationship, raising the prospect that stalled Chinese investment projects in the Southeastern Asian country could be allowed to resume. Aung San Suu Kyi, head of Myanmar’s ruling National League for Democracy and newly installed foreign minister, and her Chinese counterpart, […]