Money

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.

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.

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...

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...

A woman from Rathedaung filed a complaint with police saying she was raped by three Myanmar military soldiers who also attempted to rape her 19-year-old daughter.

This week, six EU states suspended debt payments from Myanmar while the country resumed rice exports, approved new investments and allocated US$10.6 million in loans.

Six European Union countries agreed to a one-year deferral for debt payments from Myanmar worth almost US$100 million, in a bid to help the country deal with COVID-19.

This week, many regions in Myanmar approved new investments, the World Bank released a new GDP projection and local firm Yoma moved to back mobile money company Wave Money.


The Ministry of Commerce says construction will start soon on the Kyaukphyu deep-
sea port, a key piece of China’s Belt and Road Initiative with access to the Indian Ocean.