COVID rates drop, first vaccines in sight

The rate of confirmed COVID-19 cases continues to decline into the new year, with daily case counts dipping to between 500 and 700 this week. The number is a huge drop from a mere month ago, when daily confirmed cases ranged between 1000 and 1500. Fu
Myanmar to open up Yangon stock exchange to foreign investments

COVID hit YSX trades in 2020

Trades on the Yangon Stock Exchange (YSX) plunged in 2020, according to its annual report. Only MMK 12.6 billion worth of shares were traded, a drop of nearly MMK 800 million from the previous year. The downturn came despite a sixth company, Everflow

Myanmar aims to borrow USD 1 billion for vaccines

The Myanmar government is requesting a total of roughly USD 1 billion in loans to buy its first COVID-19 vaccines. It has petitioned the World Bank, IMF, ADB and JICA, U Tun Tun Naing, permanent secretary of the Ministry of Planning, Finance and Indu

Can plane tours help the industry take off?

This week, Myanmar National Airlines conducted the first contactless, no-land flight tours — a government-backed attempt to revitalize domestic tourism. The two flights made low passes over Mount Zwegabin (near Hpa-Ann) and Kyaiktiyo (home of Golde
Factory closures and lay-offs put over 65,000 out of a job

Factory closures and lay-offs put over 65,000 out of a job

“A total of 65,707 workers lost their jobs when factories closed or suspended operations and laid off workers amid COVID-19. Most of the affected factories were involved in contract manufacturing,” said an official of the regional ministry of Imm
Thilawa SEZ investment declines by 50% YoY

Thilawa SEZ investment declines by 50% YoY

Investments in the Thilawa Special Economic Zone is the last victim of the COVID-19 induced economic fallout. The Thilawa SEZ in South Yangon has reported a 50-percent year-on-year decline in foreign investment, according to the SEZ management commit