The Chinese tech giant is helping several major companies in Myanmar through their transition into the digital era amid fears over cybersecurity.
Myanmar is hoping to offset its COVID-19 woes by boosting foreign investment and allowing Yangon’s garment factories to reopen.
More than 600 Myanmar migrants, many of them ethnic Shan, made often arduous journeys to Chiang Mai in recent days to cast advance ballots for November’s election.
The health ministry says economic necessity has forced it to allow many of Yangon’s factories to reopen despite rising numbers of COVID-19 cases.
The financial institution says 75 percent of firms across various sectors have suffered because of coronavirus and only 8 percent look to banks to cover cash shortfalls.
This week Chinese firms won numerous solar project contracts across Myanmar and a Singaporean finance firm ditched the new city project in Karen State.
A human rights group says the Danish shipping giant, Maersk, will stop serving Myanmar’s military-owned ports in protest over Rohingya rights.
A major Thai bank says it is opening in Myanmar and trade reopened on the Chiang Rai border. Myanmar’s government also says it is drafting an economic reform package.
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.
The Asian Development Bank is hopeful that Myanmar’s economy will spring back from the current 1.8 percent growth to 6 percent in the next financial year.
Bucking the COVID-19 downturn, Myanmar is seeing rapid activity on Yangon’s new city and the Dawei industrial zone.
COVID-19 continues to disrupt the global economy. Myanmar’s exporters are being squeezed by the strong kyat and garment factories face a slump in orders.
As the government imposes partial lockdowns in more areas to curb the spread of coronavirus, some fear restrictions are crushing the economic recovery.
The government says it will offer two months’ salaries as interest-free loans to civil servants as it tries to boost the economy