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Industrial zone in Kyaukphyu SEZ to be built at $30B

An industrial zone project within the Kyaukphyu Special Economic Zone (SEZ) in Rakhine State will be developed for US$30 billion, deputy commerce minister U Aung Htoo told Pyithu Hluttaw this week. CITIC Consortium from China owns 51 percent of the industrial zone while the Myanmar government owns 49pc, he said. The industrial zone will be […]

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South Korean conglomerate Posco International Corporation has discovered a new gas field in Block A3 at the Shwe natural gas project located offshore Rakhine, The Myanmar Times understands. The company confirmed that it had found a gas column of around 18 meters at its Mahar-1 exploration well after it began exploratory undersea drilling in Block […]

Myanmar eases visa rules for five countries

The government will relax its visa regulations for five more countries from January 1 as part of its effort to attract more foreign visitors to the country, according to the Ministry of Hotels and Tourism. Travellers from the Czech Republic, Luxembourg, New Zealand, Hungary and Austria will be given visas on arrival upon entering the […]

China, Myanmar Firms to Invest $130m in Four Agriculture Centres

China’s state-owned CITIC Construction group, the Myanmar Rice Federation and Myanmar Agribusiness Public Corporation signed a cooperation agreement for the construction of agricultural centres in three key regions. The US$130 million (K197 billion) deal signed in Nay Pyi Taw last week will construct centres in Yangon, Ayeyarwady, Mandalay and Rakhine. “The project intends to upgrade the […]

Historian Gives Inside View of Myanmar’s Bumpy Journey

As Myanmar embarked on an uncertain transition toward democracy after the flawed elections of 2010 there were relatively few people in the country who could offer advice on the process of change. One of them was Thant Myint-U, a former United Nations official with experience in the war-torn Balkans and Cambodia, and a grandson of […]

Govt Promises to Meet Myanmar’s Rising Electricity Demand

Yangon — The Ministry of Electricity and Energy is hoping to expand electricity access to half of the population by December, according to Deputy Minister U Khin Maung Win. Of 10,877,832 households in Myanmar, 5,140,061 – or 47 per cent of the population – had access to electricity by October. The deputy minister told the […]

Taking a Quantum Leap to Revamp Myanmar’s Economy

YANGON—Since last year, Myanmar officials responsible for drumming up foreign investment have been shuttling between Naypyitaw and Asian countries to pitch the government’s latest legal, procedural, and institutional reforms to potential investors as part of efforts to revitalize the country’s economy. State Counselor Daw Aung San Suu Kyi often highlights foreign direct investment (FDI) as […]

Thandwe in Rakhine to receive international-airport status

The government has approved the upgrade of a local airport in Thandwe, Rakhine State to international status, said U Kyaw Aye Thein, Rakhine State Planning and Finance Minister. The decision was made at the Union level after the Rakhine State Government submitted the request to upgrade, he said. The authorities were responding to private sector […]

Despite Critical Remarks, Malaysia Keen to Invest in Myanmar

YANGON—Depite Malaysian Prime Minister Mahathir Mohamad’s remarks criticizing Myanmar’s political and military actions in Rakhine State, Malaysia will maintain its economic ties with Myanmar, Malaysian Ambassador to Myanmar Zahairi Baharim said at a press conference concerning the upcoming Malaysia-Myanmar Connect 2019 business forum meant to increase economic engagement between two countries. In an exclusive interview […]

China’s Extending Reach in Myanmar

Dissonance in the Hinterlands as China Moves In Myanmar’s dependence on China is easy to see. Brightly colored Chinese company signs and billboards are prominent, Chinese-looking businessmen stroll along the streets of Yangon, Myanmar’s largest city, and Chinese tourists seem to be everywhere. While I was visiting, a Chinese crew happened to be filming in […]