President of the Republic of the Union of Myanmar U Min Aung Hlaing, who was in Russia on an official visit, delivered a speech at the 2026 Russia-Myanmar Business Forum held at the G V Plekhanov Russian University of Economics in Moscow yesterday.
In his speech, the President expressed his pleasure at having
the opportunity to speak at the forum, which was organized to deepen economic
cooperation between Myanmar and the Russian Federation. He said he believed
that the current visit would further strengthen friendship and economic
cooperation between the peoples of Myanmar and Russia and contribute to
regional economic development
Regarding the Myanmar-Russia bilateral relationship, he
highlighted that diplomatic relations between Myanmar and Russia were
established on 18 February 1948, just 45 days after Myanmar regained
independence, and that the two countries would mark the 80th anniversary of
their diplomatic relations in 2028.
Through decades of mutual understanding, trust and
friendship, bilateral relations have now developed into a strategic
partnership.
Therefore, there is considerable potential to further expand
mutually beneficial cooperation not only between the two governments but also
among the peoples and business communities of the two countries.
He noted that new opportunities are emerging in the global
economy amid changes in supply chains, technological advances and regional
cooperation. Despite the growing geopolitical and economic challenges facing
the world, Myanmar-Russia relations have continued to develop in the
international landscape through mutual understanding and trust.
In particular, trade and investment ties, based on the
countries’ diplomatic relations, are important drivers of bilateral friendship,
economic development and prospects.
At present, Myanmar mainly exports mango paste, value-added
products and garments to Russia, while importing petroleum products and
fertilizers from Russia. Discussions are also underway to increase exports of
Myanmar products such as rice, pulses, maize, sesame and fishery products.
Myanmar’s Pawsan rice is a premium variety with strong market potential.
Russia has already undertaken investment projects worth
US$97.359 million in Myanmar’s oil, natural gas and industrial sectors. Looking
ahead, there is confidence that Myanmar and Russia can further deepen
cooperation in agriculture, energy, infrastructure, industry, science and
technology, education and human resource development.
He continued that Myanmar is strategically located at the
crossroads of South Asia, South-East Asia and China, making it important both
geopolitically and economically. It is an ASEAN member and shares borders with
China, Laos, Thailand, India and Bangladesh. The country has a population of
more than 51 million, with Nay Pyi Taw as the administrative city and Yangon as
the commercial city.
Myanmar has a large working-age population, accounting for
66.9 per cent of the total population. Since 2001, Russia has provided
education and training to more than 7,000 Myanmar students in fields such as
politics, economics, technology and management.
With a hot and humid monsoon climate, Myanmar has favourable
conditions for year-round agriculture and livestock farming. The government is
promoting modern agricultural and livestock-based production, MSMEs and other
economic sectors. Myanmar also has abundant mineral resources, including
copper, gold, silver and coal, providing opportunities for value-added mineral
processing as well as coal-based power and fertilizer production.
For the infrastructure sector, the President added that the
government is working to attract greater domestic and foreign investment by
creating a clearer, more stable and transparent business environment,
streamlining procedures and providing appropriate policy support. It is
particularly encouraging quality and responsible investments while emphasizing
maintaining a sustainable ecosystem and a balanced economy. The government will
provide necessary support to the extent possible and is undertaking economic
reforms to improve the country’s business and investment environment. For
example, tariff rates have been reduced for investments related to electric
vehicles (EVs) and associated industries. The country is also accelerating
digital transformation to make processes easier and faster and is developing
the Myanmar Digital Roadmap 2030.
The President also highlighted the market potential, saying
Myanmar has a strong domestic market and access to the major international
markets of China, India and ASEAN countries, not only through land routes but
also through ports along the Bay of Bengal and the Gulf of Mottama. Myanmar is
also a strategically located land transportation hub, or “choke point,” facing
the Indian Ocean. With India having a population of 1.47 billion, China 1.41
billion and ASEAN member states more than 660 million, Myanmar serves as a
bridge between the Southeast Asian and Asian markets. A 4,000-kilometre-radius
circle centred on Nay Pyi Taw would encompass an area containing about four
billion people, or half of the world’s population.
Myanmar is located at the centre of major regional
connectivity routes, including the India-Myanmar-Thailand Trilateral Highway,
the ASEAN Highway Network, the East-West Economic Corridor and the
China-Myanmar Economic Corridor. Given its strategic geographic position,
Myanmar is a member of ASEAN, the Lancang-Mekong Cooperation framework and
BIMSTEC, and is also a dialogue partner of the Shanghai Cooperation
Organization.
Myanmar’s participation in the Regional Comprehensive
Economic Partnership (RCEP), one of the world’s largest free trade agreements,
also provides opportunities to expand trade links with countries such as China,
Japan, South Korea and Australia.
Myanmar offers a wide range of investment opportunities due
to its fertile agricultural land, abundant natural resources, and freshwater
and marine resources. Russian investors are encouraged to invest in
agriculture, livestock, agricultural machinery, seed technology, research,
value-added food and fishery processing, manufacturing, technology-based
industries, cold storage and logistics. Energy is another key area for
Myanmar-Russia cooperation, with opportunities in oil and gas, petroleum
refining, fertilizer production and natural gas exploration. Myanmar has more
than 1,000 rivers, including four main rivers such as Ayeyawady, Thanlwin,
Chindwin and Sittoung, and streams and significant hydropower potential,
estimated at 100 GW, with 40-50 GW considered commercial production.
The country also has strong potential for solar energy with a
51973.8 TWh per year production rate, particularly in the central dry zones
such as Magway, Mandalay and Sagaing. Tourism offers further opportunities,
with Myanmar’s natural beauty, cultural heritage and unique destinations
attracting Russian and international visitors and creating potential for
investment in tourism-related services.
He continued that the country has many tourist attractions,
including the Maravijaya Buddha Image and surrounding stone stupas in Nay Pyi
Taw, the renowned Shwedagon Pagoda in Yangon, Kanbawzathadi Palace in Bago, and
Mandalay Palace. The country also boasts famous beaches such as Ngapali,
Chaungtha and Ngwehsaung, with November to February being the best time to
visit due to the pleasant weather. Ancient cultural sites such as Sri Ksetra,
Hanlin, Beikthano, Bagan and Inwa, dating from the 4th to 9th centuries AD,
offer rich historical heritage, unique cultural traditions and scenic
landscapes, providing attractive opportunities for visitors.
Regarding entry arrangements, the reciprocal visa exemption
for diplomatic and special/service passport holders of Myanmar and Russia,
allowing stays of up to 90 days, came into effect on 27 January 2026. Ordinary
tourists are also eligible for a 30-day visa exemption, except for those
entering for employment, study or permanent residence.
He added that the global economy is undergoing rapid digital
transformation, and investment in digital technology is an investment in
Myanmar’s future economic competitiveness. In the ICT sector, Myanmar’s first
and largest ICT hub, the Yadanapon Cyber City project, has been established
near PyinOoLwin in central Myanmar.
PyinOoLwin is well known as a hill resort city with a
pleasant climate and beautiful surroundings. It is also located near Mandalay,
an important economic centre, and is accessible year-round by road. An
international-standard airport capable of handling jet aircraft has also been
established, facilitating domestic and international travel.
Yadanapon Cyber City already hosts a major internet and
telecommunications hub developed by Yadanapon Teleport. The project covers
about 4,047 hectares and includes office facilities for IT startups and
software companies, business incubation centres, technology universities and
training institutions.
A High-Tech Zone has also been designated for environmentally
friendly technology- and service-based manufacturing. Russian investors
interested in digital transformation of government services, communications
technology, artificial intelligence (AI), digital payment systems and
innovation-driven business development are invited to invest in these sectors.
Russian investors can establish not only industrial zones and special economic
zones but also integrated agricultural zones and industrial projects in Myanmar.
Myanmar has three special economic zones: Thilawa, Dawei and
Kyaukpyu. Thilawa Special Economic Zone in Yangon Region is currently the most
successful and, with access to maritime routes, is well suited for
export-oriented and manufacturing businesses.
The Dawei Special Economic Zone, which is being jointly
implemented by Myanmar and Russia, is expected to become strategically
important in the future, and Russian investors are invited to participate in
investment opportunities there.
The Dawei Deep Sea Port and Special Economic Zone Development
Project, LNG terminals, oil refineries, power plants and natural-gas-based
infrastructure upgrade projects are strategic projects for bilateral
cooperation. Myanmar also welcomes responsible investments in the modern
exploration and development of its mineral and natural resources, including
value-added processing, while emphasizing the development of local workers’
skills and environmental protection. Such Myanmar-Russia joint ventures can help
develop domestic supply chains and create opportunities to increase exports to
regional and international markets.
For facilitation the financial flows, Myanmar’s seven
state-owned banks and 25 private banks are maintaining connections with
international banks and financial institutions for domestic and international
financial transactions.
Direct cooperation between businesses is also underway to
facilitate banking and payment systems between Myanmar and Russia. Russia’s Mir
Card payment system has already been directly connected to Myanmar’s Myanmar
Payment Union (MPU) network through a Host-to-Host connection.
Therefore, Russian tourists and businesspeople can use Mir
Cards in Myanmar to withdraw cash from banks and ATMs and make convenient
payments at stores and hotels. Direct kyat-ruble payment arrangements can also
now be used to facilitate bilateral trade and reduce transaction costs for
businesses. This system is expected to further strengthen economic cooperation
between the two countries.
Efforts are also underway to establish Myanmar-Russia trade
offices to further promote bilateral economic cooperation and trade. Myanmar is
not only seeking to increase bilateral trade with Russia but is also
emphasizing cooperation with the Eurasian Economic Union (EAEU). Developing new
markets for agricultural, fisheries, garment and manufacturing products can
create greater opportunities for Myanmar products to enter the Eurasian market.
Moreover, the Myanmar-Russia Agreement on the Promotion and
Protection of Investments entered into force on 11 April 2026, while a
memorandum of understanding on economic and investment cooperation between the
two countries was signed on 4 June 2026. Similarly, Myanmar is also protecting
domestic products and investments in accordance with four intellectual property
laws.
He added that Myanmar underscores the importance of
technology transfer, creating quality employment opportunities and developing
domestic industries when inviting foreign investment. At the same time,
investors’ interests will be protected in accordance with relevant policies.
Myanmar has a large workforce and more than 33 million acres
of agricultural land, along with fertile soil and a favourable climate, making
it well suited for agriculture and livestock farming. Its long coastline also
provides strong potential for freshwater and marine aquaculture, with
opportunities to export products to regional and neighbouring markets.
The country is also rich in oil, natural gas and mineral
resources, while Russia has advanced agricultural technologies and expertise in
mining, renewable energy and other technology sectors. Therefore, combining
Myanmar’s abundant resources and strategic location with Russia’s technology
and experience offers strong potential for long-term, sustainable and mutually
beneficial economic development between the two countries.
In conclusion, he stated Myanmar would continue to cooperate
with Russia as a reliable strategic economic partner on the path towards
long-term development. He expressed his desire for the two countries to jointly
build “a partnership based on trust, development driven by technology, and a
mutually beneficial future”. Myanmar invites Russian businesspeople, investors
and technology companies to invest in Myanmar and work together as long-term
development partners. He continued that as bilateral relations continue
deepening, the two countries will be able to jointly achieve sustainable,
strong and mutually beneficial economic development.
After the session of delivering a speech, Rector Mr Lobanov
Ivan Vasilyevich presented President U Min Aung Hlaing with the G V Plekhanov
Russian University of Economics Medal of Merit.
The President and attendees then posed for a documentary
group photograph.
At the university’s Situation Centre, the officials gave
presentations to the President and delegation on economic development and
changes in Russia, including population and GDP data, foreign investment,
financial information and foreign exchange rates, as well as market trends.
They also explained the university’s information analysis and
research activities, including estimates of Myanmar’s population, geographic
conditions and regional income and expenditure based on data from Myanmar,
direct regional monitoring of maritime activities and components of the
university’s low-orbit satellites, research on science and technology
development and education, and assessments of developments in IT technology
across universities.
The President asked questions and held discussions on matters
of interest following the presentations. He then presented commemorative gifts
to the Rector.
The President departed from G V Plekhanov Russian University
of Economics and was warmly seen off by the rector and faculty members.
MNA/KTZH
#TheGlobalNewLightOfMyanmar
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