Fitch Solutions downgrades construction outlook
Fitch Solutions has downgraded its growth forecast for Myanmar’s construction industry, putting the blame mainly on sluggish economic reforms and the crisis in Rakhine State. Fitch Solutions Macro Research, a unit of the Fitch Group, cut its estima
Retailers banned from selling foreign alcohol
Authorities have announced they will ban liquor retailers from selling imported brands as part of attempts to tackle illicit alcohol in the country. According to a report in the Myanmar Times, members of several government departments held a meeting
New Yangon City to provide 2 million jobs
A planned major city development in western Yangon expects to create an estimated two million jobs in 12 labour-intensive sectors, according to a report in the Myanmar Times. The article cited a new Socio-Economic Master Plan for the New Yangon City
Myanmar becomes member of rubber producing bloc
Myanmar has become the 13th member of the Association of Natural Rubber Producing Countries (ANRPC), an inter-governmental organisation that aims to help countries improve the quality of its rubber products. According to a report in Tire Business, M
Govt underestimated economic impact of Rakhine crisis: Official
A Myanmar official has admitted that the government underestimated the impact the crisis in Rakhine State has had on the country’s economy. Speaking at an investor forum in Singapore, U Aung Naing Oo, director general of the Directorate of Investme
