Myanmar Morning News For June 26

Korea-backed industrial zone to locate in northern Yangon
South Korea and Myanmar have reached an agreement to establish an industrial zone in northern Yangon, and constructions will begin in early 2018, Daw Moe Thida, assistant director of the Department of Urban and Housing Development (DUHD), told The Myanmar Times on June 21.
– The Myanmar Times

Oil and gas sector needs efficient pipelines
The Myanmar government urged EU companies to invest in the country’s energy sector as industry insiders noted that gas exploration is one of the biggest opportunities in the power-hungry Southeast Asian country.
– The Myanmar Times

Border trade over US$1.4 billion, decrease of US$ 19 million in export
Border trade from 1st April to 16th June 2017 hit US$ 2.47 billion, a decrease of US$ 19.86 million in export and an increase of US$ 70.55 million in import, according to the official statistics of the Ministry of Commerce.
– Global New Light of Myanmar

Agricultural export earnings decreased by US$ 32 million
Agricultural export earnings as of the mid of June this fiscal year hit over US$ 742 million, a decrease of over US$ 32 million from the same point of last year, according to the statistics released by the Ministry of Commerce.
– Global New Light of Myanmar

Value-added gold to encourage exports
Minister of Planning and Finance Kyaw Win says jewellery and gold products are going to be promoted as value added in order to encourage exports.
– Eleven Myanmar

Turkey agrees to launch flights
Myanmar and Turkey have signed an agreement for bilateral flights, according to the Department of Civil Aviation.
– Eleven Myanmar

Thai-Myanmar regulators tie up deal
AS MYANMAR tries to grow its young capital market with the help with international partners, Thailand will become the first foreign country to sign a memorandum of understanding (MoU) with the Securities and Exchange Commission of Myanmar in less than three months, according to Htay Chun, commissioner of SECM.
— The Nation

Consumer prices rise 4%
The Consumer Price Index (CPI) increased by 4 per cent this year, coming in at 132.4 per cent at the end of May, according to the Central Statistical Organisation (CSO).
– Eleven Myanmar

Chin State gets priority for future business development
The Ministry of Planning and Finance said yesterday that Chin State will be prioritised for help in its future business development.
– Global New Light of Myanmar

Questions remain over Mon State cement factory development fund
Questions remain over how and when the $400 million Mawlamyine Cement Limited (MCL) cement factory project in Mon State will contribute to an ongoing regional development fund.
– Burma News International

IFC helps Myanmar firms to improve information disclosure for fundraising
AS MYANMAR encourages public companies to list on the Yangon Stock Exchange (YSX), the International Finance Corporation is helping the government educate companies about the importance of transparency and disclosure standards in company reporting, according to an IFC executive.
– The Nation

MIST’s organizers committed to identify region’s top travel startups
Mekong Innovative Startup Tourism (MIST) intend to incubate new tourism industry companies, match them with investors and expand Myanmar’s travel sector in 2018, according to press release issued on Saturday.
– Global New Light of Myanmar

China unblocks over 300 bank accounts
China has unfrozen over 300 bank accounts, containing about Ks200 billion owned by traders from Myanmar, and the Chinese government asked for the list of bank accounts owned by citizens which are still frozen for further scrutiny, according to traders from Muse.
– Eleven Myanmar

Vice President U Myint Swe attends 7th regular meeting with Myanmar entrepreneurs
With a view to fulfilling the needs of entrepreneurs encountered in the respective sectors, and to promptly, smoothly and successfully operate their businesses, the 7th regular meeting with Myanmar entrepreneurs was held at the meeting hall of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) in Lanmadaw Township, Yangon yesterday.
– Global New Light of Myanmar

Myanmar, World Bank renews agreement for development aid worth US$1.2bn
Myanmar and the World Bank Group have agreed to a two-year extension of a partnership that will promote growth in rural areas, improve nutrition, health and education services, build infrastructure and create more jobs.
– Global New Light of Myanmar

Workers protest against sackings
About 500 workers from Honey clothing factory staged a protest at Mahabandoola Park in Yangon yesterday, calling for an end to the unfair dismissal of workers and demanding full workers’ rights.
– Eleven Myanmar

U.S. to drop Iraq, Myanmar from child soldiers’ list (VIDEO)
U.S. Secretary of State Rex Tillerson planning to remove Iraq and Myanmar from a list denouncing the world’s worst offenders in the use of child soldiers, sources told Reuters exclusively.
– Reuters

Feature photo Eddy Milfort
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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.