fbpx

China-Backed Venture Proposes $800M Development Near Kyaukphyu Seaport

YANGON—A Chinese petrochemical giant and a Myanmar firm have jointly proposed to the Rakhine State government the development of nearly US$800 million (1.21 trillion kyats) worth of projects near the Kyaukphyu Special Economic Zone (SEZ)’s deep seaport and Ramree Island. The centerpiece of the proposal is a new logistics terminal on Maday Island situated 10 […]

Foreign Developer Proposes 7,000-Acre Project in Sittwe

YANGON—Foreign developer Gold Coast KTMG Myanmar has proposed a US$38 billion “new city” project in the suburbs of Sittwe, Rakhine State’s capital. Sittwe is near eight townships in northern Rakhine currently affected by armed clashes. A KTMG delegation met with U San Kyaw Hla, the speaker of the Rakhine State parliament, and a group of […]

Amnesty for Reuters reporters seen easing EU trade tensions

The release of two Reuters reporters and some 20 other political prisoners may help ease tensions with the EU but the government will need to do more to maintain Myanmar’s trade privileges, according to business leaders in Yangon. Wa Lone and Kyaw Soe Oo, jailed for more than 500 days, were freed on May 7 […]

Australian Firm Seeks to Reassure Locals on Gas Drilling off Rakhine

YANGON—Australian energy giant Woodside is stepping into war-torn Rakhine State with a plan to begin drilling in two oil-and-gas blocks in the Bay of Bengal. This week the company sought to reassure residents in southern Rakhine State’s Kyaukphyu that there was a need for the projects, citing the potential economic benefits and pledging to minimize […]

A Conversation With US Ambassador Scot Marciel

On March 8, The Irrawaddy’s editorial team invited US Ambassador Scot Marciel to our office in Yangon to participate in a conversation on a range of issues, particularly the many challenges Myanmar is facing. The ambassador offered his frank views in response to questions from senior editors. Here are excerpts from the interview: The Irrawaddy: […]

New prospects in Myanmar’s oil and gas blocks

Next month, 15 offshore blocks and 18 onshore blocks will be put up for tender. It is Myanmar’s second international bidding and local and foreign oil firms are interested in participating. But how much oil and gas is present? Are more discoveries possible? Which blocks have potential? Industry watchers may wish to know. Among the […]

Rakhine opens new beaches for hotel, tourism investments

The Ministry of Hotels and Tourism and the Rakhine State Government will open up new beaches along the Rakhine coast for new hotel projects in order to draw more tourism investments into the state, said U Ye Aung Moe, director of Ministry of Hotels and Tourism. So far, the ministry has designated the Gyite Taw, […]

Selling Rakhine to the World

In the wake of the 2017 Rohingya crisis and ongoing fighting between the military and Arakan Army, the Myanmar government is desperate to attract investors to Rakhine State in hopes that they will help reverse the fortunes of one of the country’s poorest regions. To that end, it invited more than 600 of them to […]

Japan envoy says development is solution for Rakhine

Japan’s top envoy to Myanmar said that economic development is an answer to Rakhine’s conflict and that Tokyo is considering providing aid for the state. “If there is economic development, I believe that there will be no conflict,” Japanese Ambassador Ichiro Maruyama said ahead of a Japan-backed investment fair in Ngapali. The first Rakhine Investment […]

Rakhine ups efforts to draw investments, hopes for development

Rakhine State will target investments in tourism, fisheries and agriculture at an investment fair that will be held in February in Ngapali, southern Rakhine, Rakhine State Chief Minister U Nyi Pu told the media in Yangon yesterday. With the aim of drawing funds that will be channelled towards the development of the state, the three-day […]