Government Commits to Long Term Aquaculture Development; Starts Dialogue on Issues

Myanmar has taken its first major step towards developing a sustainable aquaculture industry that will meet domestic dietary needs and support the country’s fishery exports business at a time when wild fish stocks are declining rapidly. “The fisheries sector is one of the most important for our ministry, contributing to the protein needs of our […]

Myanmar hopes to double electricity capacity by 2021

YANGON: Myanmar is planning to double its electric power capacity by 2021 by building natural gas-fired power plants, two senior officials told Reuters on Wednesday, in an ambitious move to tackle chronic power shortages in the energy-starved country. With only one-third of the country’s 60 million people connected to the electrical grid and cities experiencing […]

Davos 2018: China’s economic shift and implications for Myanmar

Myanmar will capture Chinese investment as Beijing prioritises poverty alleviation and development in Yunnan AS the fight against poverty takes centre stage in Beijing’s economic policy, Yunnan and Myanmar will remain a priority for Chinese investment, while China’s fast-growing middle-income population, especially those in the southwest, presents a crucial market for Myanmar’s growth-oriented businesses as well […]

Kyat Hits Strongest Level Against Dollar in Over a Year

The Myanmar kyat appreciated to its strongest level against the US dollar in a year after the Central Bank of Myanmar (CBM) set its daily reference rate at K1,345 per dollar on Tuesday. The kyat had weakened to K1,360 against the dollar last year. It opened this year at K1,361. The kyat hit a record […]

Lack of policy direction leads to drop in investor confidence

Alarm bells are ringing after a substantial drop in investor confidence in Myanmar as a result of the lack of a clear economic policy and plan in the economy. According to the second Myanmar business confidence survey conducted by Roland Berger in partnership with Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) […]

Construction of Dawei SEZ back on the cards

The government is exploring ways to restart development of the suspended Dawei Special Economic Zone (SEZ), saying the SEZ will benefit Myanmar as well as the region. The Dawei SEZ includes construction of the highway as well as a deep-sea port which will link Thailand, Cambodia and Vietnam in the ASEAN region to India, the […]

Forest rights create new livelihoods in Myanmar

In Myanmar, the National League for Democracy (NLD) is transferring the rights to forest land – and all its potential bounty – to local communities. Duncan McQueen explains how this important move, supported by peer-to-peer learning, is helping to establish new long-term livelihoods. It is impossible to talk about Myanmar without acknowledging the persecution of […]

MoU signed in Rakhine for mega projects

SITTWE – With the aim of implementing three mega projects for regional development in Rakhine State, a memorandum of understanding (MoU) has been signed between the Rakhine State Government Committee and private companies on October 30. The mega projects are construction of Kanyinchaung trade zone on Maungdaw Township, development of Manaung Island and construction of […]

Local shrimp market shrinking on falling US demand

As the US has stopped buying wild shrimp, the local market for shrimp is shrinking, U Hnin Oo, deputy chair of Myanmar Shrimp Association, told The Myanmar Times. In the past, Myanmar exported both wild and farmed shrimp to the US, EU as well as its neighbours in ASEAN. However, the US has said that […]

National electrification project Invitation for Bids. Closing Date 12 Dec 2017

Date: 23rd October, 2017 Specific Procurement Notice IDA Credit No. : 5727-MM Contract Title: Surge Arrester, Fuse, Transformer Accessories, Medium Voltage Cable & Low Voltage Cable (Accessories) for National Electrification Project Reference No. : C1-G6 1 The Ministry of Electricity and Energy has received financing from the World Bank toward the cost of the National […]