What to expect from Myanmar’s top five export sectors

Even though Myanmar managed to bring down its trade deficit by US$500 million to $1.3 billion during the period between April 1 and September 30 from the same period last year, the volatile exchange rate and rising oil prices may well continue to drive up import costs in the coming months. U Yan Naing Tun, […]

Framework for Kyaukphyu Port to be signed next week

The Myanmar government and China-based CITIC Group will sign a framework agreement for the construction of the Kyaukphyu Deep Sea Port project in Rakhine State next week, said U Aung Htoo, deputy minister of commerce. “It was agreed that for the first phase, the deep sea port will be implemented with US$1.3 billion (K2.4 trillion) […]

India, Myanmar sign MoU towards Sittwe Port operationalisation

NEW DELHI: India and Myanmar signed an important MoU on Monday for the appointment of a private Port Operator for the Operation and Maintenance of Sittwe Port, Paletwa Inland Water Terminal and associated facilities included in the Kaladan Multi Model Transit Transport Project in implementation of India’s Act East Policy. Following this MoU the process […]

Myanmar targets FDI from East Asia in long-term investment plan

Myanmar is gunning for more foreign direct investments (FDI) from East Asia in the next 20 years under its new Myanmar Investment Promotion Plan (MIPP), U Than Aung Kyaw, deputy director general of the Directorate of Investment and Company Administration (DICA) told The Myanmar Times at a book launch in Yangon on Thursday. Besides strengthening […]

China to hold 70% stake in Myanmar’s planned strategic seaport

Myanmar will hold a 30 percent stake in its strategic deep-water seaport project led by cash-rich China, giving Beijing a 70 percent interest, under their final agreement reached during recent talks between the two countries, according to a visiting senior Myanmar official. That is an improvement for the emerging Southeast Asian economy from the initially […]

Ministry of Electricity and Energy invites bids for Installation of Distribution Lines and Transformers, national electrification project, submission date: 1 November 2018.

Specific procurement notice Date : 28th September, 2018 Invitation for Bids IDA, Credit No 5727-MM Contract Title Installation of Distribution Lines and Transformers for Sagaing, Magway, Chin, Magway, Rakhine, Bago (West), Bago (East), Kayin & Mon For National Electrification Project Reference No MOEE-NEP/C1-W2/18, MOEE-NEP/C1- W3/18 & MOEE-NEP/C1-W6/18 1. The Republic of the Union of Myanmar […]

China hardsells big ticket but low on trust, India’s soft power push in Myanmar education and health

As Delhi seeks to expand its engagement with Myanmar, it is in sectors such as education, health and entertainment services that India hopes to make an impact in a country crowded with several international players, and completely dominated by China. In a state-of-the art classroom at the steel and glass Myanmar Institute of Information Technology […]

Can Myanmar’s garment sector reach its full potential?

After a United Nations (UN) report this week branded Myanmar’s refugee problem one of the world’s worst humanitarian and human rights crises, David Birnbaum looks at the knock-on impact for the country’s garment export sector. He argues that while Myanmar is one of the few alternatives to China for high value-added, complex and difficult-to-make products, its poor […]

Myanma Apex Bank gives loans to almost 700 farmers this harvesting season

A pilot project which provides loans to farmers spearheaded by Myanma Apex Bank (MAB) and Myanmar Rice Federation (MRF) has supported almost 700 farmers for this harvesting season to date, according to the MRF. U Ye Min Aung, MRF secretary, said that the MAB has provided medium-term loans to farms in agriculture, livestock and fishery […]

Myanmar will ask China to downsize project, minister says

NAYPYITAW — Myanmar will seek to reduce the scale of a China-led special economic zone project in its western state of Rakhine, Planning and Finance Minister Soe Win said in an exclusive interview. Speaking with Nikkei on Tuesday, the minister, a former Deloitte managing partner, stressed the importance of heeding “lessons that we learned from […]