The International Finance Corporation expects its investments in Myanmar to total US$1 billion in three years’ time, aiming to support the backbone for the country’s economic growth and job creation efforts, according to Vivek Pathak, IFC East Asia and Pacific department director.
The United Nations will support Myanmar’s efforts to graduate from Least Developed Country (LDC) status, though it may take some time, according to officials.
The gems and jade industry attracts its share of interest and controversy. Given Myanmar’s endowment of the precious jewels, it’s a huge revenue-generator – a Harvard report issued in 2013 estimated it brought in US$8 billion in 2011.
A crackdown is coming to foreign investment circumventing rules by registering under the names of Myanmar citizens, according to Myanmar Investment Commission (MIC) secretary U Aung Naing Oo.
State-owned carrier Myanma Airways will re-christen as Myanmar National Airways as it looks to once again take to international skies, officials said on December 10.