Myanmar is proposing to include the Mee Lin Gyaing Project including a LNG power plant and gas pipelines connecting with Yangon with an estimated investment value of US$2.5 billion in the list of early harvest projects of the China-Myanmar Economic Corridor (CMEC), state-run newspapers reported. Three Chinese companies – Union Resources and Engineering Company (41%),..

uel can now be purchased without limit at the local filling stations but the price of a liter of 92 Ron octane has increased by 50 kyats, according to some customers in Yangon Region. On April 19, domestic fuel prices were Ks1,890 per liter of 92 Ron octane, Ks1,975 per liter of 95 Ron octane,..

Central Bank of Myanmar issued notification dated March 3 on the use of Thai baht and Myanmar kyat for direct payment at Myanmar-Thai border. CB stated that in its effort to facilitate bilateral trade, flow of goods, payment and settlement system and to promote the use of local currency according to the objectives of Asean..

Exports of heavy rare earth minerals from Myanmar to China have resumed after a months-long closure of the land border aimed at preventing the spread of Covid-19, China’s Global Times reported. This is likely to mean more profits flowing to militia groups in Kachin State that are allied with the military regime and control areas..

Myanmar has approved the development of an Integrated Domestic Gas to Power Project involving US$2 billion in investments in Kyaiklat, Ayeyarwady Region. The Ministry of Electricity and Energy granted a Notice to Proceed to Thai national oil company PTTEP for the 592-megawatt project, which will be carried out under a 20-year Build, Operate and Transfer..

Construction of an expressway connecting the city of Bago and Kyeik Hto township in Mon State is expected to start in fiscal 2022-23, U Aung Myint Oo, Director General of Department of Highways under the Ministry of Construction, told the Myanmar Times. This comes after the Asian Development Bank (ADB) last week approved a US$483.8..

  Some small and medium-sized enterprises (SME) have started suffering from the effects of coronavirus outbreak, business owners say.  “It has already affected the country’s economy very much. Especially, hotels. As they have lost customers, they have no money to pay for their employees’ salaries. Restaurants and shops are facing difficulties also. Many SME businesses..

  U Thaung Tun, Union Minister for Investment and Foreign Economic Relations (MIFER) and Chair of Working Committee to Address the Possible Impacts of COVID-19 on the Country’s Economy had separately met with Gevorg Sargsyan, Acting Country Director of the World Bank Myanmar and Newin Sinsiri, Asian Development Bank (ADB) Country Director, March 23, Nay Pyi..

  The International Development Association (IDA), which is a part of the World Bank, will lend US$100million (K140.1 trillion to Myanmar to promote the basic education sector, the World Bank announced on March 3. According to the World Bank, Myanmar will use the funding for a plan to promote inclusive access to quality education over..

The Ministry of Electricity and Energy (MOEE) has signed an agreement to purchase electricity generated by the 135 MW gas-fired Kyaukphyu Power Plant that will be built by independent power producer Kyauk Phyu Electric Power Co. According to a statement from the MOEE, the power purchase agreement (PPA) was signed last Tuesday. Kyauk Phyu Electric..