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Cryptocurrency scheme not in Mong La, company says

A Yongbang cryptocurrency scheme in a border area of eastern Shan State is not located in Mong La Special Administrative Region 4, the Chinese firm in charge clarified. “The physical jurisdiction of Yongbang is a couple hours away from Mong La. Any control of incidental overlap [there should be none] will be maintained by the […]

Chinese tech firm claims digital plans for Mong La SEZ

A Shanghai blockchain company claimed it intended to set up a special economic zone in a rebel-held border area of eastern Shan State where it would issue digital currencies and IDs to the local population. Executives from Shellpay Internet Technology Co, in a Channel News Asia (CNA) broadcasting programme aired last December, said that the […]

Full steam ahead for China-Myanmar high-speed railway

Once stalled plans to build a high-speed railroad connecting China’s southern city of Kunming and Myanmar’s Kyaukphyu port on the Bay of Bengal are firmly back on track. If completed, the 1,400-kilometer railroad will be a crucial link in a strategic economic corridor through which China’s imports and exports would bypass the congested Malacca Strait […]

Japan-backed bridge project begins in Yangon

Construction of a Japan-funded bridge in Myanmar, seen as a symbol of competing interests between China and Japan, kicked off Wednesday with a groundbreaking ceremony in Yangon, the country’s commercial capital. The bridge, funded by a ¥31 billion (K427.5 billion) low-interest loan from the Japan International Cooperation Agency, will be constructed over the Bago River […]

Two-lane road connecting Dawei SEZ to be built

YANGON-Myanmar will be constructing a road that connects Dawei Special Economic Zone (SEZ) and the border area with Thailand, says Dr Than Myint, Commerce Minister and Chairman of the Task Force on SEZ construction. “Myanmar is now discussing about construction of road to Dawei SEZ with Thailand. We have conducted the survey for construction. Construction […]

Corporate Japan urges Myanmar to address business concerns

The most senior Japanese business leader in Myanmar urged the government to recognise how liberalisation, efficient bureaucracy and reliable power supply allowed Thilawa Special Economic Zone (SEZ) to attract considerable investments. He also warned that current restrictions placed on foreign firms in the retail and wholesale sector are already “the maximum” but commended the ministry’s […]

Kyaukphyu port: What happens next?

After more than two years of negotiations, the Myanmar government and China’s state-owned CITIC Group signed the framework agreement for the proposed US$1.3 billion deep-sea port in Kyaukphyu on November 8. At the press conference, CITIC chair Chang Zhenming said this meant “the beginning of further steps”. “Signing this agreement is the starting step for […]

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) […]

State Counselor Encourages Japanese Investment in Myanmar

Myanmar’s State Counselor Daw Aung San Suu Kyi has invited Japanese investors to seek investment opportunities in Myanmar as she believes that Japan has a deep understanding of the country’s struggle in the Rakhine crisis and peace process. On Monday, in her keynote speech at the Myanmar Investment Conference in Tokyo, Daw Aung San Suu […]

MTSH reiterates plans to invest in Kyaukphyu, Thilawa

Myanmar Thilawa SEZ Holdings (MTSH), which is listed on the Yangon Stock Exchange (YSX), has plans to invest in two of the three special economic zones (SEZ) in Myanmar. These include the deep sea port project in Kyaukphyu, Rakhine, and a multi-modal logistics hub in Thilawa, Yangon. It will also invest in the Myitkyina Economic […]