Capital for a brief period during the 18th century during the Konbaung dynasty under King Alaungpaya, who is considered one of the three greatest kings of Burma, Shwebo is now principally a trading post on the Mandalay to Myitkyina railway line which visitors usually pass by. 

Although little remains of the old capital’s architecture, the town is still surrounded by its huge moat, and there is a reconstruction of the Konbaung royal palace. There are also numerous pagodas dotted around town, including the Shwe-taza Paya .

Shwebo has attained national fame for Paw San Wei, the premium rice of choice across Myanmar. First grown by a local farmer, Paw San Wei has a distinctive fragrence and taste, leading it to surpass the Irrawaddy Region-cultivated Paw San as Myanmar's most favored rice.