This week Myanmar’s authorities and food dealers moved to ensure staples arrived at reasonable prices amid the panic-buying that followed three COVID-19 confirmations.
It’s been a busy business week in Myanmar with the government looking to protect firms from COVID-19 and the textile sector taking drastic measures to import supplies.
The coronavirus has dominated business in Myanmar with interest rates falling, the Indian border closing and a special committee opening to address the economic impact.
Despite the lack of any coronavirus cases in Myanmar, the virus has hit factory supply chains, the dollar exchange markets and the export sector.
Myanmar got its own barcode, the Dawei Special Economic Zone may move ahead, Myanmar’s new online Project Bank went live and Kachin State approved a BRI project.
This week, Myanmar saw news of a South Korean oil project, a new link to India and rising foreign investment while the gem and garment sectors faced setbacks over coronavirus.
This week, Myanmar saw trade and tourism slow due to the coronavirus outbreak and faced criticism from European investors, but signed a major deal with a Thai developer.
This week, Myanmar saw major signs of foreign support for its IT, insurance and creative sectors, as well as power production, especially liquid natural gas.
This week, Myanmar celebrated the opening of a Thai fish factory and border trade with Laos, while the World Bank is forecasting a growth boost.
In the first week of 2020, Myanmar businesses forged new financial partnerships, hosted jade emporiums and made progress on an international transparency initiative.