Myanmar Morning News For April 7

Myanmar Morning News For April 7
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Myanmar morning news

ADB forecasts positive turnaround for Myanmar’s economy
More tourists visiting Myanmar and a growing manufacturing sector, according to ADB’s annual Asian Development Outlook. However, it says Myanmar should further tap the ASEAN Economic Community to fuel growth.
— Channel NewsAsia

Rohingya Villagers Bear Witness to a Brutal Crackdown in Myanmar
On the morning of Oct. 10, Hussein Muhammad, an old Rohingya man who doesn’t know his age, was awoken at 6 a.m. by a noise outside his home. When he stepped outside, he saw that dozens of soldiers and members of Myanmar’s Border Guard Police had his hut surrounded.
— Time

Myanmar President Heads to Beijing Amid Reported Chinese Rethink of Myitsone dam
A Myanmar Foreign Ministry official was cautious on Thursday about reports that China was willing to walk away from a controversial $3.6 billion dam on the Irawaddy River, a project suspended in 2011 in the face of popular opposition.
— Radio Free Asia

Startups from Myanmar accelerator Phandeeyar secure funds
Myanmar tech hub Phandeeyar has announced that four teams from its startup accelerator successfully completed an intensive six-months coaching programme and secured $25,000 as seed money in the form of a convertible note.
— Deal Street Asia

Myanmar: Flymya acquires UK travel reservation developer SWITCH.CM for $600K
Flymya.com, Yangon-based air ticket, hotel reservation and car rental platform owned by local investment firm BOD Tech, has acquired SWITCH.CM, a London-based engineering team that designs reservations platforms for hotel and airlines, for a consideration of $600,000.
— Deal Street Asia

Vietnam’s Dragon Capital inks microfinance JV with Myanmar’s Loi Hein Group
Vietnam’s investment firm Dragon Capital has forged a joint venture with Myanmar-based Ruby Financial Company to provide microfinance services in the frontier market.
— Deal Street Asia

Mitsubishi Corp. Courts Myanmar’s Wealthy With New Hospitals
Mitsubishi Corp. will team with local companies to establish medical complexes in Myanmar, where a growing health care market is being fueled by the increasing number of middle- and upper-class residents.
— Consult-Myanmar

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Aung San Suu Kyi: Interviewed on BBC on 5 April 2017
Aung San Suu Kyi has denied there is ethnic cleansing of the Rohingya Muslim minority in Myanmar, despite widespread reports of abuses.
— Consult-Myanmar

Myanmar’s Stock Exchange Struggles a Year After Launch
Housed in a stately colonial building at the heart of Myanmar’s financial district sits the Yangon Stock Exchange, which amid great expectations opened its doors as the country’s first bourse a year ago this month.
— Consult-Myanmar

State Counsellor: some success, but we are not home and dry yet
In an interview with the BBC, State Counsellor Daw Aung San Suu Kyi defended the progress her government has made since coming to power one year ago in terms of infrastructural improvements, the peace process and free elections, and also speculated that the October attacks last year on border police outposts that resulted in months of area clearance operations were an effort to derail attempts to negotiate peace between Myanmar and the many ethnic armed insurgent groups. The following is the complete text of the BBC television interview.
— Global New Light Of Myanmar

Bill committee points to weaknesses of Yangon Bus Services
Rules and regulations for Yangon Bus Services (YBS) should be implemented by the Yangon Region Transport Authority (YRTA), the Bill committee of Yangon Region has suggested.
— Eleven

Plans are underway to continue implementing another 20 hydropower projects
The Ministry of Electric Power and Energy is planning to generate more than 1,600 megawatts of power from six projects, including Shweli and Yeywa, that are still being built.
— Eleven

Bean growers already face loss of agricultural costs
As the price of pigeon pea is set to drop considerably, growers in nearby Pakokku Region are already facing less income and predict more difficulties with the upcoming rainy season.
— Eleven

Buyers beware of squatter land scam!
Owners of several vacant plots of land in some Myothit areas in Mandalay city risk losing their property to squatters who have not only trespassed but have built huts and temporary shacks.
— Myanmar Times

Group urges govt to relook Inle Lake tender
An environmentalist group is urging the Union and Shan State governments to reinvestigate the tender agreement that allowed entrance and zone fees to be collected at Inle Lake.
— Myanmar Times

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Myanmar businesses urged to support peace process
In a bid to enhance private sector contribution to the nation-building endeavours, local businesses on Tuesday gathered at the office of the Union of Myanmar Federation of Chamber of Commerce and Industry to celebrate the launch of the Business for Peace initiative in Myanmar.
— The Nation

Bangladesh and Myanmar to seal border if Rohingya crisis recurs?
A top Bangladesh Border Guard official on Thursday said the border agencies of Bangladesh and Myanmar have resolved to shut all crossing points between the two countries if there is any repeat of the recent Rohingya refugee crisis.
— Dhaka Tribune

Is foreign investment really stalling in Myanmar?
Foreign direct investment is crucial to Aung San Suu Kyi’s plans to build a flourishing and dynamic economy in a country that has suffered decades of mismanagement. Myanmar’s colossal infrastructure needs cannot be met without the help of international capital.
— Nikkei Asian Review

Kyaukphyu shows need for SEZ law reform
Reform of the 2014 Special Economic Zone Law is essential to ensure that land acquisitions for the projects do not violate the human rights of farmers and others who are affected.
— Frontier Myanmar

Myanmar young talents to go to China to learn ICT
Chinese giant telecommunication equipment company, Huawei, launched a program Thursday to send 10 outstanding students from Myanmar to learn the culture and Information and Communication Technology (ICT) in China.
— Xinhua

 

Feature photo Markus Kostner / World Bank
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Stella-maris Ewudolu

Stella-maris Ewudolu

Journalist at AEC News Today
Stella-maris graduated with a Bachelor of Arts, Education from Ebonyi State University, Nigeria in 2005. Between November 2004 and February 2011 she was a staff writer at Daylight Online, Nigeria writing on health, fashion, and relationships. Since 2010 she has worked as a freelance screen writer for 'Nollywood', Nigeria.
Stella-maris Ewudolu

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