Myanmar morning news for August 2

Latest CBM ruling seen as setback for cashless transactions
An announcement from the Central Bank of Myanmar (CBM) disallowing the use of prepaid cards in the local currency is a step backwards for cashless transactions, industry observers said.
— Myanmar Times

CPI hits 154.56 pc in late June
Consumer Price Index (CPI) reached 154.56 per cent in late June, up 9.51 per cent compared with the same period last year, according to the report on the CPI and inflation rate issued by the Central Statistical Organization (CSO).
— Eleven Myanmar

UN report criticises Myanmar over child soldier recruitment
A United Nations report on children and armed conflict issued Tuesday takes Myanmar to task for its failures in preventing the recruitment of children by the military in 2018 and in holding those responsible accountable for their actions, RFA reported.
— BNI Online

9 more investment enterprises permitted in Myanmar
Myanmar Investment Commission (MIC) has recently permitted nine more investment enterprises from home and abroad, according to a release from the Directorate of Investment Company Administration (DICA).
— Xinhua

Myanmar grants local-foreign joint ventures to operate life, non-life insurance businesses
Myanmar finance authorities have granted three local insurance companies to form joint ventures with three foreign counterparts to operate life insurance business in the country, according to an announcement of the Ministry of Planning and Finance released on Thursday.
— Xinhua

Mitsui Sumitomo to invest in Myanmar general insurer
Mitsui Sumitomo Insurance Co. (MSI) will invest in IKBZ Insurance Co., a privately owned general insurer in Myanmar.
— Insurance Business Mag

Foreign insurers scrap Myanmar launches over last-minute policy change
Three foreign insurance companies have canceled plans to launch operations in Myanmar after the government tweaked the requirements at the last minute.
— Nikkei Asian Review

Govt calls for sustainable tourism investments in Tanintharyi
Amid a rise in the number of Chinese tourists and so called zero-dollar tours to Myanmar in the recent months, the government is now calling for sustainable and quality investments for Tanintharyi Region’s tourism industry.
— Myanmar Times

Central Banks of Myanmar and Thailand to collaborate on trade
Central Banks of Myanmar and Thailand will collaborate in financial matters to assist the development of trade and investment, according to the Central Bank of Myanmar (CBM) Wednesday, Xinhua reported.
— Mizzima

Telenor CSR projects reach 1 million people in Myanmar
Telenor Myanmar reports that over 1 million people across the country have been benefitted from its corporate social responsibility (CSR) initiatives. Telenor Myanmar has been running CSR projects since 2014, including Emergency Response Initiatives, Safe Internet, Mobile Birth and Death Registration (MBDR) and an MBA Scholarship programme.
— Telecompaper

Commercial Arbitration Centre to be opened
The Myanmar Arbitration Centre (MAC) will be opened on 3 August at the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry to resolve commercial disputes among Myanmar entrepreneurs, state media reported.
— Mizzima

Japan urges Myanmar to improve refugee plan
Japanese Foreign Affairs Minister Taro Kono said he asked the Myanmar government to improve the repatriation plan for Rakhine State refugees who have fled to Bangladesh.
— Myanmar Times

Myanmar: Drop charges against detained filmmaker
In response to the opening of the trial of filmmaker Min Htin Ko Ko Gyi today, Nicholas Bequelin, Amnesty International’s Director for East and South East Asia said:
— Amnesty

Japan offers jobs in 14 industries
Myanmar will send workers skilled in 14 types of jobs to Japan, starting with the hospitality industry, the Labour Ministry said on Wednesday.
— Myanmar Times

Military MPs no show for parliamentary session on Myanmar constitution
The Myanmar military is set to strongly resist a bid to loosen its ongoing grip on political power, despite an electoral mandate for Aung San Suu Kyi’s National League for Democracy (NLD).
— UCA News

Some 3300 illegal homes cleared in Mandalay
The Mandalay City Development Committee has cleared away more than 3300 illegal houses within the city area over the last three years, said U Aye Lwin, head of the MCDC’s Revenue Department.
— Myanmar Times

FDI jumps 77pc to US$2.3 billion in first half of 2019
Government-approved foreign direct investment (FDI) into the country stood at US$2.3 billion in the first-half of 2019, a 77 percent improvement from the same period last year when approved FDI came in at US$1.3 billion.
— Myanmar Times

Education Ministry to focus on building up human resources
The education minister has instructed its top officials to study how to improve the ministry’s work to better prepare human resources and get the country ready for the 21st century.
— Eleven Myanmar

Thailand repatriates 103 migrant workers to Myanmar
Officials from Thailand’s Ranong Immigration Department handed over 103 migrant workers — 86 men, 16 women, and one child — to Myanmar authorities on Wednesday evening at the Kawthoung border gate.
— The Global New Light of Myanmar

Skilled Myanmar workers to be allowed up to five-year work in Japan
Under a memorandum of cooperation (MoC) between Myanmar and Japan signed on March 28 this year, skilled Myanmar workers will be allowed to stay in Japan for five years to work for 14 sectors.
— Eleven Myanmar

Gold AYA Motors Int’l Group to manufacture 5,000 units annually
Gold AYA Motors International Group in Myotha Industrial Park, Mandalay Region can manufacture 5,000 cars annually.
— The Global New Light of Myanmar

DASSK Grateful for Japanese Support During Myanmar’s “Difficult Times”
“I believe Japanese people who have passed through similar difficult times will have compassion and understanding for the Myanmar people,” said Daw Aung San Suu Kyi, who is also the foreign affairs minister.
— Irrawaddy

Pyidaungsu Hluttaw continues debate on constitution amendment report
The Pyidaungsu Hluttaw held a second debate on the report submitted by the Joint Committee on Amending the 2008 Constitution during its seventh-day meeting, 13th regular session, yesterday.
— The Global New Light of Myanmar

‘We’re not afraid to lead’: Myanmar’s displaced find a new voice
Bawk Nu Awng hasn’t been home since 2011. All three of the villages where she spent her childhood have been destroyed.
— The Guardian

VP U Myint Swe addresses 10th private sector development committee meeting
Vice President U Myint Swe said that the main obstacle toward Myanmar’s economy was the illegal trade sector. As the illegal trade sector still remained strong it was a great hindrance to businesses conducted legally.
— The Global New Light of Myanmar

MFF warns fish farmers of floods
Fish farmers need to make necessary preparations for fish lakes as there may be floods in August, said Win Kyaing, General Secretary of Myanmar Fishery Federation (MFF).
— Eleven Myanmar

Union Minister Nai Thet Lwin receives Vietnamese delegation
Union Minister for Ethnic Affairs Nai Thet Lwin received a Vietnamese delegation led by Mr Dieu K’re’, the Central Committee member and Permanent Deputy Head of Central Commission for Mass Mobilization, at his office in Nay Pyi Taw yesterday.
— The Global New Light of Myanmar

Myanmar to attract more foreign direct investments | Video
It’s a year to the day Myanmar rolled out a new Companies Law to attract more foreign direct investment (FDI) into the country. The new law is one of several initiatives to reform the economy. But experts caution that FDI targets this year may still fall short. Leong Wai Kit reports.
–Channel NewsAsia

Yakult bets on Myanmar market for further growth
Yakult, the Japan-headquartered probiotic drinks maker, has invested in a US$47 million factory in Myanmar’s Thilawa Special Economic Zone.
— Myanmar Times

Rain-induced landslide wreaks havoc on Myitkyina-Tanai Road
Following heavy rain, a 100-feet long hillside collapsed on the evening of 30 July on the Myitkyina-Tanai Road in Mogaung Township of Kachin State, according to the Township Fire Services Department.
— The Global New Light of Myanmar

Military Nets 16-Billion-Kyat Drug Haul in Northern Shan State
The Office of the Commander-in-Chief says the Tatmadaw seized 16-billion-kyats worth of drugs, raw materials and production equipment from 96 camps in Shan State.
— Irrawaddy

Burgeoning speciality coffee in Myanmar
Coffee production is not new in Myanmar, but speciality coffee production is. Recently Myanmar has adopted new methods of harvesting cherries and processing coffee beans and starts to stand out for its high-end coffee in a global market.
— Mizzima

From Conflict Zones to Courtrooms, Myanmar’s Media Under Fire
Authorities are stepping up their use of security-related laws to suppress journalists.
— Irrawaddy

Myanmar Mily delegation visits Varanasi, 39 Gorkha Training Centre in India
The Myanmar delegation led by Commander-in-Chief of Defence Services Senior General Min Aung Hlaing, accompanied by wife Daw Kyu Kyu Hla visited the Chaukhandi Stupa near Varanasi yesterday morning during their visit to India.
— The Global New Light of Myanmar

Feature photo International Organization for Migration

This week’s Myanmar morning news features photo focuses on World Day against Trafficking in Persons, July 30.

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).

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