Myanmar should brace for the consequences of COVID-19 on the local and global economy, senior government officials and analysts say. The Myanmar Investment Commission (MIC), which oversees investments in the country, said the economic slowdown caused by the virus outbreak is already being felt in other countries and will likely have an impact on Myanmar. […]
Read MoreThe Central Bank of Myanmar announced on Monday announced that it is revoking the banking licence of locally incorporated Asia Yangon Bank Ltd (AYB). The central said in its announcement that the revocation is for “breaching the country’s existing laws” but did not provide any further details on the matter. Since the announcement, the central […]
Read MoreThe government on Monday announced that it will implement relief measures to address the possible economic impacts of the COVID-19 pandemic might bring to the country. State Counsellor Daw Aung San Su Kyi said this in televised address to the country about measures that will be taken to prevent, control and treat the virus if […]
Read MoreLocal supermarkets have been packed with shoppers since the evening of March 12 and some goods have been out of stock. The panic buying was sparked by rumours that the government planned to close schools and cinemas for up to a month, and that a patient had tested positive for COVID-19 at the Yangon General […]
Read MoreThe rice industry body in Myanmar has reassured the public that there will be sufficient rice for domestic consumption and prices will be controlled amid the global COVID-19 pandemic. The Myanmar Rice Federation (MRF) released a statement on Friday that it would try to have a sufficient and stable supply of rice for the local […]
Read MoreThe flow of foreign direct investment (FDI) into Myanmar could be hampered by the global COVID-19 pandemic, hitting manufacturing businesses which rely on labours and imports of raw materials, according to a senior official. The COVID-19 outbreak could curb FDI inflow in Myanmar to a certain extent, warned U Thant Sin Lwin, secretary of the […]
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