Myanmar's economic outlook is good, Finance Minister U Kyaw Win told a meeting of Asian Development Bank governors in Frankfurt last week, despite cautions from economic experts that the country still faces an array of challenges.
Talk about electricity blackouts has dominated conversation over the past few weeks as people across the country brave the sweltering heat to meet by candlelight or to shout over the hum of smoke-belching generators.
Myanmar will soon have another source of support in its efforts to better track economic data and foreign direct investment, when an ASEAN+3 research arm starts a new technical assistance program later this year.
China's growing economic influence through the One Belt, One Road initiative and the newly operational Asian Infrastructure Investment Bank were key topics of discussion at the Asian Development Bank’s annual conference in Frankfurt this week.
A temporary ban on logging has been proposed to the government and is likely to be approved, according to Myanma Timber Enterprise managing director U Saw John Shwe Ba, though restrictions are not yet in place, as has been widely reported.
The long-awaited Condominium Law passed in the closing days of the last parliament has failed to stimulate the housing market as expected, say industry insiders.
The loss-making Inland Water Transport department has cut its services by over 70 percent and risks closure within months, as road and air travel becomes more popular while climate change reduces rainfall, altering the course of rivers and forcing many of the country’s waterways out of use.