Myanmar’s hotels have been closing and the authorities axed a deal to develop a giant economic zone. Meanwhile, an alarming fall in foreign trade has been reported.
This week a Japanese beer giant took a stand against Myanmar’s military, tea orders arrived from the United States and remittance firms were licensed to transfer cash.
This week saw a Korean desk open in Yangon to boost bilateral trade. Work is also due to start on the Thai-backed Amata Smart City.
Myanmar’s economy is trying to break out of the COVID-19 gloom by relaxing restrictions and starting large infrastructure projects.
Investment in Myanmar’s Thilawa Special Economic Zone has slumped this year as the World Bank predicts more trouble amid ongoing COVID-19 restrictions.
Myanmar’s watermelons and avocados are heading for new markets as COVID-19 hits farmers, rice exporters allege Chinese fraud and the World Bank makes dire forecasts.
China has responded to the NLD’s re-election by saying it wants to deepen economic cooperation while Myanmar looks to relax COVID-19 measures.
As Myanmar continues to attract foreign investment, a sweeping study by the Organization for Economic Cooperation and Development has called for reform of state-owned industries.
This week, Myanmar inked the world’s largest free-trade pact, approved loans for pandemic-hit businesses and prepared to scale back COVID-19 restrictions.
Despite the twin distractions of the general election and COVID-19, Myanmar continues to attract investment for major development projects.
Defying Myanmar’s newly extended ban on flights, a US delegation arrived this week promising to boost investment in Myanmar.
Myanmar continues to attract foreign investment from Europe and Hong Kong, despite the impact of COVID-19, which continues to hit exporters.
This week Myanmar’s authorities continued to dig deep into reserves to help firms struggling with COVID-19 while the ban on international flights was extended.
To break the COVID-19 blues, Myanmar’s government has extended tax exemptions and held talks with South Korea to boost bilateral trade.
Bucking the COVID-19 downturn, Myanmar is seeing rapid activity on Yangon’s new city and the Dawei industrial zone.