Myanmar’s Waiting for the Western Investment That Never Came

Among business leaders in Myanmar, would-be investment from the U.S. and Europe is known by the wry acronym NATO. “No Action, Talk Only,” Sean Turnell, special economic consultant to Myanmar’s leader Aung San Suu Kyi, said in an interview, underscoring the country’s history of missed opportunities and unfulfilled potential. As Southeast Asia’s fastest-growing economy began […]

Myanmar witnesses more development during incumbent gov’t: survey

YANGON, July 1 (Xinhua) — Myanmar has witnessed improvement of living condition during the last two years of the government led by the National League for Democracy (NLD), the official Global New Light of Myanmar reported Sunday. With the cooperation of the UN Development Program (UNDP) and the World Bank, a government survey was conducted […]

Upgrading Myanmar’s internet connection

In 2010, internet penetration in Myanmar was less than 0.3 per cent of the population, amounting to a mere 130,000 users. By 2016 this figure had risen 100 times to 13 million citizens online, and this number continues to grow. A World Bank-funded telecom reforms program led to the arrival of two private operators in […]

Uncertainty for economy remains despite pick-up in growth: World Bank

Despite the strong performance and favourable economic outlook for Myanmar, risks have emerged that could affect business confidence and derail future developments if not addressed, according to the World Bank’s Myanmar Economic Monitor released yesterday. The report said that the country’s economy performed better in 2017-18 amid growing global and domestic uncertainty, partially offsetting slower […]

19 agreements worth over $50 million signed for national power supply project

Nineteen agreements worth over US$50 million have been signed for the national power supply project to be implemented with a World Bank loan, according to the Ministry of Electricity and Energy. Thanks to the project, over 5,000 villages in 14 regions and states in Myanmar will enjoy electricity. Purchasing contracts and consultancy service agreements were […]

Retail interest in Myanmar robust, but investment avenues lacking

When RHB, a Singapore brokerage, first selected Singapore Exchange-listed Yoma Strategic Holdings as one of its top five stock picks for retail clients on May 2, shares of the company soared 15 percent, hitting a 4-month high of 48 cents on May 9 as investors hurried to get onboard. “Yoma Strategic offers a pure play […]

Disaster-prone Myanmar presses alert button as monsoon looms

Vice President U Henry Van Thio is a possessed man, running here and there, to check on the preparations of local governments in response to the perennial threats of the monsoon, which is just around the corner. The vice president, who is also chairman of the National Natural Disaster Management Committee, assured that he will […]

Economic prospects for Myanmar favorable, but downside risks intensified: World Bank

While the economic outlook for Myanmar is looking “favorable,” with growth projected to rise to 6.8 percent in 2018-19 from 6.4pc before, the risks to those prospects have “intensified,” according to the World Bank’s Myanmar Economic Monitor (MEM), which was released in Yangon yesterday. Lower tourism arrivals resulting from the ongoing Rakhine crisis could weaken […]

Request for expressions of interest (consulting services – firms selection), Closing Date: 1 June 2018.

MYANMAR South East Asia Disaster Risk Management Project Project ID. P160931 Assignment Title: Component 1 Review of governance and legal structure of Southeast Asia Disaster Risk Insurance Facility (SEADRIF). Reference No. C1 CS2 The Government of the Republic of the Union of Myanmar has applied for financing from the World Bank toward the cost of […]

IFC, YCDC to improve construction permit system

The International Financial Corporation (IFC) the sister organisation of the World Bank, is partnering with the Yangon City Development Committee(YCDC) to reform the city’s construction permit system and optimise the role of the private firms. “The goal of this partnership with IFC is to streamline and automate Yangon’s construction permit process by June 2019. This […]