Myanmar to commence usage of "Mir" cards from February onward
In a significant move, Union Minister for Investment and Foreign Economic Relations, Kan Zo, announced the launch of accepting "MIR" cards in Myanmar, starting from February 20. This announcement was made during Kan Zo's participation in the 2nd Russia-Myanmar Business Forum, which took place on the sidelines of the "Russia" exhibition-forum.
The 2nd Russia-Myanmar Business Forum provided a platform for Kan Zo to express the intention of Naypyidaw to develop economic cooperation with Moscow. The minister expressed hope that Russia would become the main investor in Myanmar's economy in the near future.
Meanwhile, in a separate development, the press service of Boris Titov, the chairman of the Russia-Cuba Business Council, announced that 'MIR' card payments are expected to become available in Cuba by June 30, 2025. This date represents the planned completion of the integration process, after which MIR cards will be operational in Cuba.
The MIR payment system, a Russian payment system, has been expanding internationally amid restrictions faced by Russian payment cards outside Russia. Following its integration in Cuba, MIR will join other countries where the system is operational or being introduced, such as Iran.
The announcement regarding 'MIR' cards in Cuba was made on Saturday, January 27, but no specific details about the timeline for the implementation of the cards in Cuba have been provided. Similarly, the current article does not mention any specific Russian investments in Cuba.
Russia has already invested $94 million in Myanmar's economy, but the timeframe for Russia becoming the main investor in Myanmar's economy is not explicitly stated. The announcement was made by RIA Novosti, a Russian state-owned international news agency.
In Myanmar, the possibility of paying for goods and services with 'MIR' cards will also be available, as previously announced. The integration of the MIR payment system into Cuba's financial infrastructure is expected to provide a boost to trade relations between Russia and Cuba.
The integration of the MIR payment system into Cuba's financial infrastructure is anticipated to spur trade relations between Russia and Cuba, similar to the anticipated impact in Myanmar, where 'MIR' cards will soon be accepted in the industry, potentially boosting business and finance transactions. With Russia expressing hope that it could become the main investor in Myanmar's economy, there might be potential news regarding increased investment in both countries' business sectors.
