SMEs in Myanmar struggle to survive COVID-19 pandemic

Small-and medium-sized enterprises have been especially hard hit by the COVID-19 pandemic, according to an industry group in Yangon. “We plan to release data showing our members’ difficulties,” said U Min Thu, secretary of the Yangon MSME Association. Small businesses have been closed since early September, which has damaged their chances to make a profit, […]

Investment in Myanmar continue to grow despite COVID-19

Although garment and other factories have been hugely impacted by the COVID-19 pandemic, local and foreign investments are still flowing into the country, according to the Yangon Region Investment Committee. The government approved two investments totalling US$2.65 million in shoemaking and garment manufacturing by China and Singapore at the end of October that are expected […]

ADB approves loan to fund new Myanmar expressway

The Asian Development Bank (ADB) has approved a US$483.8 million loan to build a 64-km expressway connecting the capital of Bago region and the township of Kyaikto in Mon state in Myanmar. The move supports the Myanmar government’s aim to increase investment in transport infrastructure to 3 percent of GDP by 2030, up from an […]

Myanmar expects more US investments in telecommunications, technology

The United States may increase its investments in energy, telecommunications, tourism, and natural gas production sectors following a discussion to cooperate in Myanmar beyond the COVID-19 pandemic, said U Maung Maung Lay, chair of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI). The development comes after a delegation led by Mr […]

Five Shan towns to be promoted as tourism cities

Five towns in Shan State have been designated as tourism cities with the aim of improving Myanmar tourism in the post-COVID-19 period, said U Soe Nyunt Lwin, Shan State Planning and Finance minister. A tourism master plan has taken into account the “new normal” in Shan. “Under the plan, the country will promote tourism under […]

Myanmar’s growth prospects shrink on resurgence of COVID-19

Two men walk at the Ayeyarwady COVID-19 treatment centre built inside Thuwanna Stadium in Yangon. Photo: Aung Htay Hlaing/The Myanmar Times Myanmar’s growth prospects shrink on resurgence of COVID-19 Stringent containment measures, an uncertain export outlook and strengthening of the local currency against the US dollar could delay Myanmar’s economic recovery into 2021 following a […]

Tourism companies and tour guides shift to other businesses

Myanmar Tourism Operators Association Chairman Naung Naung Han said that domestic tourism companies had to shift to other businesses such as the food industry since almost all tourism businesses had to be stopped in the wake of COVID-19 outbreak in the country. COVID-19 positive cases are surging in Myanmar and domestic airlines and express bus […]

‘No rain, no visitors and no income’: Bagan adjusts to tourism crash

In common with popular destinations around the world, Bagan has been hit hard by the economic effects of the pandemic and many there who rely on tourists for a living have had to adapt to survive. Words & photos by NYEIN SU WAI KYAW SOE | FRONTIER Cries of “morning glory and other vegetables!” punctuate […]

Virus-hit local tourism, the continued shutdown of Yangon International Airport and weak signal for revival of businesses

According to the World Tourism Federation (WTF) for 2019, the total number of tourists around the globe exceeded 1,500 million. China has topped the list of global tourists as Chinese tourists account for 156 million. Due to the spread of COVID-19, almost all tourism businesses in the globe have stopped. The pandemic has resulted in […]

Myanmar Airways gears up for rebound in tourism

Myanmar Airways International (MAI) is restructuring its fleet of aircraft to operate more domestic and international routes despite a domestic and worldwide slump in travel and tourism, said U Tin Maung Than, head of the administration department at MAI. MAI is expanding its fleet despite an ongoing suspension of international commercial flights to and from […]