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.
Factory owners tired of electricity cuts say they will build their own power station in Yangon’s Hlaing Tharyar industrial zone. Owners say they will cover the construction cost if the government agrees to sell them the gas needed to power the plant.
A new foreign exchange committee will bring state, domestic and international banks together for the first time to work toward creating a vibrant interbank market.