Myanmar Morning News For June 14

EXIM Bank opens first office in Myanmar
The Export-Import Bank of Thailand (EXIM Bank) has opened its first overseas branch in Yangon, the capital of Myanmar.
– NNT

Myanmar needs foreign investment to increase export products
Myanmar will need foreign investment to increase exports of products made in special economic zones and industrial zones, said permanent secretary Toe Aung Myint from the Ministry of Commerce.
– Eleven Myanmar

China’s economic ascension: not a race to the bottom for Myanmar
China’s global economic footprint is projected to grow exponentially through its ‘Belt and Road’ initiative, to which China initially pledged US$124 billion, but may grow to US$900 billion according to the Financial Times.
– New Mandala

Global economic instability drives the rubber price to decline
Rubber prices in Myanmar have declined due to global economic instability, particularly in durable goods markets and petroleum which are closely linked to rubber said U Khaing Myint, the general secretary of Myanmar Rubber Planters and Producers Association.
– Global New Light of Myanmar

Supporting SMEs, manufacturing locally and operating in underdeveloped areas criteria for FDI approval, official says
A top official from the Ministry of Commerce told an audience of foreign investors and businesses that foreign investments should be able to support SMEs, manufacture products in Myanmar and operate in underdeveloped areas.
– The Myanmar Times

Education Ministry to remove hurdles to jobs for disabled
The Ministry of Education will make arrangements to have undemocratic orders and instructions which are hindering disabled persons from acquiring jobs repealed or amended as needed after careful scrutiny, said the Union Minister for Social Welfare, Relief and Resettlement Dr Win Myat Aye at the Pyithu Hluttaw yesterday.
– Global New Light of Myanmar

More than half of child labourers face workplace risks
More than 600,000 of Myanmar’s 1.3 million working children faced physical, mental and moral danger in the workplace in 2015, according to a study by the Ministry of Labour and the International Labour Organisation.
– The Myanmar Times

Dutch businesses keen for deals in Myanmar
A DOZEN Dutch companies took part in the Netherlands’ first trade mission to Myanmar last week, reflecting keen interest to expand business ties.
– Eleven Myanmar

Regional TVET Conference -2017 kicks off in Nay Pyi Taw
Regional Technical and Vocational Education and Training—2017 was held at 9 am yesterday at the Myanmar International Convention Centre-II, with the intention of upgrading cooperation in the sectors on technology, vocation and training between ASEAN Countries and acquiring more agreements with each other.
– Global New Light of Myanmar

European businesses call for stronger collaboration and consultation between government and private sector
“The key message is political support’ – these words from the vice president [Myint Swe] at the opening speech were perceived as a strong and welcoming message to European investors in Myanmar and European companies looking at Myanmar as a possible new investment destination in ASEAN,” said Filip Lauwerysen, executive director of the European Chamber of Commerce in Myanmar (EuroCham) during the Myanmar-EU Economic Forum held in Nay Pyi Taw on June 8.
– The Myanmar Times

Ooredoo Myanmar intros private APN service for businesses
Ooredoo Myanmar has launched its Private APN service for its business customers. Dubbed ‘Corporate APN, this private APN service is designed to enable enterprise and corporate entities to access their private LAN network through the mobile network.
– TelecomPaper

Commercial tax stamp for gold shops to be rolled out in July
Gold and jewellery shops in Yangon and Mandalay have started putting commercial tax stamp labels on vouchers. The new requirement will take effect in other regions and states on July 1, according to the Internal Revenue Department.
– Eleven Myanmar

Online realty pioneer aims for the top
WITH more and more Myanmar home-buyers taking to their screens, House.com.mm says it is confident of establishing the lead in the country’s online property market even as it faces up to potentially stiffer competition in the near future.
– The Nation

Mon State residents protest against polluting quarrying company
The residents of Mon State’s Paung Township held a protest on June 12 against a quarry run by the Long Life Aggregate Company, which has long been accused of polluting the area’s farms and waterways.
– Coconuts Yangon

UN Changes Top Myanmar Official
The UN confirmed on Tuesday that its top official in Myanmar, UN Resident and Humanitarian Coordinator Renata Lok-Dessallien, would be leaving the post.
– The Irrawaddy

Feature photo Paul Arps
Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).

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.