This week, Myanmar moved to join an Indo-Pacific economic pact and approved over US$500 million in investments, including $180 million for what will be Myanmar’s largest mall.
This week, Myanmar announced new industrial and economic zones and approved US$1 billion in loans, including $250 million for COVID-19 relief and $747 million for a highway.
Opposition lawmakers condemned the proposed US$483.8 million loan as excessive for 62 km of road.
Employers in Bagan are reeling as they were counting on an influx of domestic visitors to help cope with the coronavirus downturn.
Myanmar’s Parliament gave the green light to borrow US$250 million from the ADB to help fund the government’s COVID-19 Economic Relief Plan which it began rolling out in April.
The Asian Development Bank-funded power project aims to bring electricity to 400,300 rural homes not reached by the national grid.
This week, a survey found 36 percent of export companies have no new orders, MIC said 10 more firms will close and trade data showed a US$200 million drop in exports to China.
Mandalay’s chief minister, Dr. Zaw Myint Maung, expelled special branch agents from his press conference after he noticed them recording him.
This week, garment factories say they have almost no orders from the EU, the government says GDP will grow by 6 percent next year and China okays official rice imports Myanmar.
Governmental approval of commercial breeding of 90 protected species, including the dolphin, will fail to protect wild animals and could boost the illegal wildlife trade.
Myanmar’s military has led a raid on a large casino on the Thai border. Under the May 2019 Gambling Law gambling is only legal for foreigners.
Myanmar’s many clothing factories have received almost no orders this year and thousands of workers face unemployment, owners warn.
The Jordanian authorities are yet to grant landing permission to the Myanmar Airways International flights that are due to fly home of hundreds of migrants.
Myanmar will remain out of bounds to foreign visitors as the country extends travel and gathering restrictions.
Senior Myanmar and Chinese officials and executives agreed at an online meeting to implement e-commerce systems to facilitate trade amid the COVID-19 pandemic.