Aung San Suu Kyi’s government is opening the economy and growth is rebounding in Burma, though the possibility of broader Western sanctions over the Rohingya crisis is nevertheless giving some foreign investors pause, according to a senior IMF official.
Burma’s short-term business confidence dropped to 49 percent in 2017 from 73 percent a year ago, according to a survey.
Business Economy Lead Story News
The International Monetary Fund on Friday forecast an economic rebound in Burma this year, but said the Rohingya refugee crisis may dampen investment as the country faces international pressure over its treatment of the Muslim minority.
Business Economy Lead Story News
An International Monetary Fund delegation visits Burma this week for an annual economic checkup of a country whose treatment of its Rohingya Muslim minority has put it in the international spotlight.
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Burmese tycoon Serge Pun, one of the wealthiest men in Asia, says the government led by Aung San Suu Kyi has neglected the nation’s much-needed economic reform.
International Relations Lead Story News Peace Process
State Counsellor Aung San Suu Kyi met UN Secretary-General Antonio Guterres on Monday and invited him to attend the 21st Century Panglong Conference next week, the Ministry of Foreign Affairs announced.
International Relations Lead Story News
Chinese President Xi Jinping on Monday urged major multilateral institutions to join his new Belt and Road Initiative, stressing the importance of rejecting protectionism in seeking global economic growth.
Economy Finance Lead Story News
Kyaw Kyaw Maung, the governor of the Central Bank of Myanmar, was reappointed to the position in 2013 by former president Thein Sein, after previously serving under Burma’s former military junta.
Business Development Economy Lead Story News
Burma’s government wants to pursue more sustainable economic development by depending less on resources, says a German business delegation.
Burma’s first freely elected cabinet in more than half a century will focus on income equality, rural development and boosting budget revenue, the finance minister-elect said in his first interview since being picked for the job.
Lenders say they have been forced to turn to unlicensed brokers for scarce dollars to keep the wheels of trade turning.
Burma’s vice president opened on Wednesday a $1.5 billion manufacturing complex aimed at investment and creating jobs, showcasing government achievements.
2015 Elections Analysis Contributor Lead Story News Politics
Post-election Sino-Burmese relations will be determined by Naypyidaw’s veto power versus Beijing’s hegemonic power, says academic Dr Bryan Pak-Nung Wong.
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Burmese finance analysts have predicted that the US dollar will continue to strengthen against the kyat until the end of the year, state media reports.
Business Business Weekly Lead Story News
This week in business; Coca-Cola defends claims of links to military company, the Thilawa Special Economic Zone steams ahead and KFC opens in Rangoon.
A consultation team from the International Monetary Fund (IMF) who visited Burma through June has cautioned finance officials against the “downside risks” of the country’s development. Such risks include persistent[…]
Business Weekly Lead Story News
Tourism in Karen and Mon hit hard by renewed conflict; Master Sports auction fetches $300,000; World Bank backs maternal & infant health care in Burma; Hong Kong mining firm gets exploration license in Shan State.
The International Monetary Fund (IMF) emphasized during a regional press briefing on Friday that Burma’s projected growth rate will surpass eight percent for 2014-2015. Jerry Schiff, deputy director for the IMF’s[…]
The World Bank estimates Burma’s economic growth rate at 8.5 percent for 2014 and 2015, a figure higher than any other nation it surveyed, including China.
Business Weekly Lead Story News
Chin SEZs, Thai banking, Shwedagon tourist boom and flights to the Philippines in this week’s Burma Business Weekly.
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BUSINESS in BURMA THIS WEEK: Ooredoo defends against boycott; Rangoon to get more freight ports, jetties; ADB supports renewable energy in Burma; US govt fines Fokker for breaking sanctions rules.
Burma received a total of about US$480 million in international aid and loans during the month of May — four times the amount received in April — according to data[…]
In a speech on Wednesday, US President Barack Obama pointed to “American leadership” as a driver of democratic reform in Burma.
Despite an influx of foreign investment and large resource base, Burma’s exponential growth could be held back by inadequate basic infrastructure and a lack of skilled workers, says an international business analyst.
Burma is set to grow 7.5 percent during the current fiscal year, and about 7.7 percent in the next, the IMF said on Tuesday, as services and manufacturing expand in one of Southeast Asia’s fastest-growing economies.
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BUSINESS THIS WEEK: Burma and the Philippines pledge increased trade and investment; Shangr-la plans new hotel in Rangoon; IMF chief pledges support for Burma’s banking sector.
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BUSINESS IN BURMA THIS WEEK: Hotels open in Naypyidaw for SEA Games; India eyes pan-Asian gas contract; rubber deal signed with Japan; IMF’s Christine Lagarde is en route to Burma; and both Mercedes and Chevrolet plan auto showroom launches in Rangoon.
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This week: Gold price resettles; ‘Made in Burma’ Nissans on the way; Apple launches in Rangoon; Central Bank considers cutting interest rates; and govt invites tender bids for Kyaukphyu economic zone.
Burma’s lending and savings rates are among the highest in the world, but now the Central Bank is weighing up the pros and cons of bringing them in line with international standards.
As an unprecedented amount of investment is set to pour into Burma soon, DVB’s David Stout spoke with Jared Bissinger, a PhD candidate at Macquarie University who is studying Burma’s[…]
