Myanmar renews SEZ push

Myanmar’s special economic zones (SEZs) are a central part of a revitalised economic strategy in which increased manufacturing activity will play a key role. And breathing renewed life and energy into stagnant or stalled SEZs has moved to the top of the government’s agenda. “SEZs promote the transfer of technology, encourage infrastructure development and attract […]

Myanmar mulls reforms to meet infrastructure funding

YANGON — With Myanmar mired in the Rohingya humanitarian crisis and few signs of any short-term solution, Aung San Suu Kyi’s government is struggling to maintain recent efforts to shore up the economy as uncertainty assails investment confidence and domestic sentiment. The government is facing an international outcry over its handling of the Rohingya refugee […]

Govt urged to establish Belt and Road taskforce

From tackling illegal border trade to constructing Kyaukphyu SEZ, the to-do list for Belt and Road in Myanmar is very long. THE Myanmar government is urged to take a proactive role and form a taskforce to carve out its involvement in China’s Belt and Road Initiative (BRI). An adviser to the National League for Democracy-led […]

High potential of Myanmar Economy

The topic of economic transformation in Myanmar was thoroughly discussed at the Forum on Myanmar Democratic Transition held from 11 to 13 August 2017 in Nay Pyi Taw. The talks could generally be summed up that despite the slow economic take-off in Myanmar, the good potential of the Myanmar economy will be seen in the […]

Fixing the Myanmar economy

Major structural overhauls have to be carried out so the country can maximise its potential for growth. Myanmar’s economy is projected by the World Bank to grow by an average of 7 percent between 2017 and 2019. Last year, GDP rose by 6.5pc. That’s among the fastest growing economies in Asia, alongside the likes of […]

Myanmar moves forward

The government of Myanmar is about to take dramatic steps to spur economic development and improve government efficiency. Several significant cabinet changes are in the pipeline, detailed economic strategies are being finalised and a shake-up in the bureaucracy is already under way. These planned changes in ministerial personnel are aimed at strengthening the government’s leadership […]

Belt and Road should not dictate infrastructure priorities: Melvyn Pun

Beijing’s Belt and Road Initiative (BRI) should not dictate Myanmar’s infrastructure priorities despite the importance of Chinese finance, according to the head of Yoma Strategic. Infrastructure should be developed for Myanmar’s national interest. During the 2nd ASEAN-Myanmar Forum hosted by the Singapore Institute of International Affairs in Sedona Hotel yesterday, Melvyn Pun, the chief executive […]

Myanmar Wants to Modernize Its Banking System

Myanmar is embarking on the first comprehensive audit of state-owned banks in decades, part of a push to modernize the financial system and tackle risks to the nation’s rapid economic growth. The World Bank is working with Aung San Suu Kyi’s government on the project and the results will help to clarify options for restructuring […]

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 […]

Asia’s New Tiger Economy Fears Currency Slide

​​ Myanmar’s central bank is braced for a deeper slide in the nation’s currency and has little scope to tackle the decline after the kyat fell the most in Southeast Asia, according to one of the monetary authority’s top officials. The kyat has weakened about 10 percent against the dollar in the past six months, data […]