Myanmar Morning News For June 12

Foreign investment in Myanmar up in April
FOREIGN direct investment in Myanmar reached US$656 million in April, with the majority of that investment going into the manufacturing sector, according to the monthly report of the Directorate of Investment and Company Administration (DICA) released last week.
– Global New Light of Myanmar

JICA offers K1.3b loan to SMEs
JAPAN International Corporation Agency (JICA) is going to lend K1.3 billion via local banks to small and medium-sized enterprises (SMEs), an official from JICA told The Myanmar Times.
– The Myanmar Times

Foreign investment in Thilawa SEZ tops a billion dollars
Foreign investment in Thilawa Special Economic Zone reached more than US$1.07 billion at end of last month, Thurein Aung, vice president of Myanmar Japan Thilawa Development Ltd, has said.
– Eleven Myanmar

Thai contractor TTCL plans over-$6b investment in two coal power plants in Myanmar
TTCL Plc, one of Thailand’s largest listed contractors, is considering investing over $6 billion (Bt 204 billion) in setting up two coal-fired power plants in Myanmar, according to The Nation.
– Deal Street Asia

Thailand’s Exim Bank chooses Yangon for first overseas office
State-owned Export-Import Bank of Thailand was due to open its first overseas representative office in Yangon on June 9, media reports said.
– Frontier Myanmar

Gas production declines at Yetagon and Zawtika
Output at the Yetagon and Zawtika gas projects, which export to Thailand, has declined, according to the Ministry of Electric Power and Energy.
– Eleven Myanmar

Vocational training deal signed with Singapore
The Ministry of Labour, Immigration and Population and Temasek Foundation International in Singapore have signed a memorandum of understanding on the TVET Quality Assurance Framework Programme for National Skills Standards Authority.
– Eleven Myanmar

Govt will miss affordable housing targets: sources
Although the Ministry of Construction says it will build a million low-cost and affordable apartments in 20 years, only about 200,000 would be built, sources said.
– Eleven Myanmar

Mercedes Benz leaves the competition in the rear view mirror
If money is not a problem, the world of luxury cars has now opened its doors in Myanmar.
– The Myanmar Times

Pre-1995 model cars to be deregistered
Following up the deregistration of 20-year-old buses, pre-1995 and 1995 model cars in Yangon will continue to be swapped, said U Phyo Min Thein, Chief Minister of Yangon Region, at a transferring ceremony of China-made buses on 10th June at People’s Square and Park.
– Global New Light of Myanmar

IFC urged to turn down cement plant partnership
Nearly 200 local civil society groups have jointly urged the International Finance Corporation to refuse investment in the expansion of a Mandalay Region cement plant by one of the country’s largest construction firms.
– Frontier Myanmar

With a forgotten temple city, Myanmar hopes to strike tourism gold
The next Angkor Wat? Securing world heritage status for historic Mrauk U could bring much-needed prosperity to troubled Rakhine state
– The Guardian

Kyaw Win looks for farming investment
Kyaw Win, minister for planning and finance, said domestic and foreign investors would be allowed to invest to develop a supply chain for the agricultural sector.
– Eleven Myanmar

Maungtaw Farmers get quality rice seeds
Under the arrangement of Rakhine State Agriculture Department, officials distributed quality rice seeds to local farmers free of charge yesterday.
– Global New Light of Myanmar

Feature photo Paul Arps
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Myanmar morning news by AEC News Today is your one stop source for Myanmar news on matters of governance and policies affecting Asean business communities. It is published M-F by AEC News Today: Governance, not government; policies not politics.