Myanmar throws weight behind Hong Kong as BRI “superconnector”

Myanmar recognises Hong Kong’s “distinctive role” as the Belt and Road Initiative’s “super connector”, a cabinet minister said last week during an official visit to the city, while businesses urged Nay Pyi Taw to take a more proactive approach in the scheme. Newly appointed chair of the Myanmar Investment Commission (MIC) U Thaung Tun, who […]

China set to build Rakhine port

Myanmar says it is eager to begin work on a Chinese-backed port and industrial park project in the Rakhine State town of Kyaukpyu with a decision is expected soon. National security adviser Thaung Tun denied the country was in a “debt trap” with Beijing, calling it a “win-win” deal. “We would like to see this […]

BCIM offers pathway for broader China-India energy cooperation

China’s natural gas supply can’t meet its soaring demand, especially since the government wants to use more of the fuel to cut pollution. There’s a similar situation in India, which has 17 percent of the global population but only 1 percent of the world’s oil and natural gas reserves. India is also a rapid-growth economy, […]

Government reveals plans to build first modern oil refinery in Myanmar

State-owned Myanma Petrochemical Enterprise (MPE) is planning to build a new oil refinery near an existing state-run facility in Magwe Region, Daw Yin Yin Aung, deputy director of MPE, told The Myanmar Times. The government intends for the project to be implemented in cooperation with the private sector under a Public Private Partnership, in line […]

China Faces Increasing Competition in Myanmar

Chinese domination of Myanmar can not be denied, as China is Myanmar’s top trading partner, and over the past three decades has also emerged as the single largest source of foreign direct investment (FDI) in the southeast Asian state. Myanmar-China bilateral trade had already reached $5.5 billion in the first half of the present fiscal […]

Political make-up a bottleneck for Shan economy

The political make-up of the state’s executive and legislature results in a lot of time and energy spent on negotiations instead of implementing sweeping economic reforms in Shan, according to a local chamber of commerce. The state needs political stability and it needs to generate value-added agricultural products in order to grow its economy. Shan […]

Beyond China: Nation must diversify FDI

While for a long time the world has been focussed on political reforms in Myanmar during its transition from military rule to a democracy, the country has also witnessed a significant economic transformation. The most obvious sign of this is the sudden jump in foreign direct investment (FDI), from US$4 billion (K5.46 trillion) in 2013-14 […]

Myanmar exports 2m tonnes of oil via pipeline over 4 months

OVER 2 million tonnes of crude oil has been exported to China through the Myanmar-China pipeline, according to U Toe Aung Myint, permanent secretary of the Ministry of Commerce (MOC). The pipeline connecting Made Island in Rakhine State to Kunming, capital of China’s Yunnan Probince was inaugurated on May 2, 2017. By September 1, the […]

China, Myanmar discuss establishment of border economic cooperation zone

The establishment of China-Myanmar border economic cooperation zone is being discussed between the two governments. The government of Yunnan Province has invested US$10 billion in Myanmar, while Myanmar entrepreneurs have also invested $100 million in the province, according to a press release. The press release came after a regular meeting between the Republic of the […]