Country languishes at 171st out of 190 economies—the same as last year—despite government’s vow to boost investment.
Though 70 percent of Myanmar’s garment exports go to the EU, investors in the industry are mostly Asian, so revoking the GSP won’t affect foreign investment, according to DICA.
Agency plans to invite East Asian investors to major summit in December
The plan aims to see Myanmar in the top 40 of the ease of doing business index and the GDP increasing to $203 trillion within 20 years.
Chinese factory owners looking to relocate amid trade spat with U.S., Serge Pun says
1,700-km-long project will connect China’s Yunnan Province to Mandalay, Yangon and Kyaukphyu Special Economic Zone.
Speaking at an investor forum in Singapore, the DICA official said last year saw the lowest rate of foreign investment in Myanmar since 2013.
Beijing’s aggressive approach could see it grab most of the benefit of reforms.
The huge infrastructure project is part of Beijing’s One Belt One Road Initiative; critics warn of potential for Myanmar to fall into a debt trap
Rethinking the financial basis of the project could keep the strategically vital deep-sea port from falling into China’s debt trap.