Myanmar morning news for February 4

Myanmar morning news for February 4

Myanmar morning newsMyanmar’s Investment Outlook for 2019
Strategically located between China, India and Thailand, Myanmar is surrounded by some of the fastest growing economies in the world. A large and cheap workforce, natural resources and generally low production costs make Myanmar a perfect destination for foreign investment. Growth rates of over 6 percent over the last few years and the need of the government to attract more FDI for development signal increasing opportunities.
— Asean Briefing

Myanmar’s sea trade sees growth in current fiscal year
Myanmar’s marine trade stood at USD7.7 billion as of Jan. 25 in the current fiscal year 2018-2019 which started in October.
— Menafn

Myanmar lets foreign banks buy into local peers
Myanmar’s central bank will allow foreign banks to hold stakes of up to 35% in domestic banks, part of reforms to boost capital levels and activity in the financial sector.
— Nikkei Asian Review (paywall)

Real Estate Services Bill submitted to parliament
The Real Estate Services Bill aiming to increase tax revenues and to build confidence in the industry has been submitted to the Pyithu Hluttaw.
— Myanmar Times

The hardening grip of Myanmar’s soft media repression
Media freedom is under siege in Myanmar amid criticism of State Counsellor Aung San Suu Kyi’s estrangement from and failure to fortify the press.
— East Asia Forum

Commentary: Did the Rohingya crisis snuff out foreign direct investments in Myanmar?
The European Union is considering imposing sanctions which may debilitate the fragile Myanmar economy.
— Channel NewsAsia

Survey starts for major railway project
China Railway Eryuan Engineering Corporation (CREEC) has started a partial survey for the Muse-Mandalay-Kyaukphyu railway line, part of the China –Myanmar Economic Corridor (CMEC) and the larger Belt and Road Initiative (BRI).
— Myanmar Times

Long-term investment is the key, according to Ascent Capital founder
Myanmar is an emerging market and long-term play for investors seeking to come in. In the following interview, Mizzima talked with Mr Lim Chong Chong, Ascent Capital Partners Founder and Managing Partner about the launch of a Myanmar-focused private equity fund – Ascent Myanmar Growth Fund – and the prospect for the economy and investors.
— Mizzima

CBM allows 35pc foreign stakes in local banks
The Central Bank of Myanmar (CBM), in Regulation No 1/2019 issued January 29, has formally allowed foreign equity ownership of up to 35 percent in licensed banking institutions in Myanmar.
— Myanmar Times

Myanmar-Thailand border trade reaches over 1 bln USD in FY 2018-19
Border trade between Myanmar and neighboring Thailand reached over 1 billion U.S. dollars as of Jan. 25 in the fiscal year 2018-2019 which started in October, according to Myanmar’s Commerce Ministry on Saturday.
— Xinhua

Jailed Reuters reporters launch last appeal to Myanmar court
Lawyers for two Reuters journalists jailed for seven years in Myanmar on charges linked to their reporting of the Rohingya crisis lodged an appeal Friday (Feb 1) with the Supreme Court – a last chance of a reprieve through the legal system.
— Channel NewsAsia

State Counsellor says MPs have responsibility for amending the Constitution
Myanmar State Counsellor Aung San Suu Kyi said that if one wants to enter the legislative branch or wants to be a member of parliament, then one must learn how to win people’s support.
— Mizzima

Level crossings on western side of Yangon Circular Railway to be upgraded this month
The Myanma Railways will upgrade level crossings on the western side of Yangon Circular Railway, between Kyimyindine and Insein stations, in February, said U Tun Aung Thin, the General Manager of Myanma Railways (Lower Myanmar).
— Global Newlight of Myanmar

Normalcy returns to Myanmar’s central region after quarrel
Normalcy has returned to Thayet town in Myanmar’s central Magway region due to a quarrel that nearly sparked a riot, according to the Information and Public Relations Department of the Information Ministry Sunday.
— Xinhua

Human Rights Watch says Myanmar government using ‘abusive laws’ to punish critics
urma’s government under Nobel laureate Aung San Suu Kyi has used repressive laws to prosecute peaceful critics, dashing hopes that its first democratic leader in decades would safeguard free speech, Human Rights Watch said on Friday.
— Telegraph

Charcoal trade a threat to Myanmar’s vital mangrove forests
While Southeast Asia is known as one of the world’s fastest-growing economic regions, home to booming metropolises like Bangkok, Ho Chi Minh City and Kuala Lumpur, it also hosts some of the planet’s most vital ecological areas.
— AsiaTimes

10 men arrested for money extortion in Myanmar’s southern region
A total of 10 men have been arrested for extorting money from local charcoal makers in a forest in Myanmar’s southern Bago region, Myanmar News Agency quoted the police as reporting Sunday.
— Xinhua

U.K. Duo Gives Myanmar’s Premium Coffee Scene a Jolt
Myanmar, particularly around the highlands of southern Shan State with its perfect topography and climate, could be a globally important coffee growing region with the potential to produce some of the world’s best quality beans.
— The Irrawaddy

Inaugural Pride of Myanmar Awards a success
The Pride of Myanmar Awards 2018’s award giving ceremony took place on February 1 at the iconic Pegu Club on Pyay Road.
— Myanmar Times

Myanmar army attacks ULFA-I camp
The Myanmar Army launched an attack on an abandoned camp of the banned militant outfit ULFA-I in Northern Myanmar at Taga.
— NagalandPost

Retail major City Mart partners Sandanila to invest in food SMEs in Myanmar
City Mart Holdings Co Ltd (CMHL), a leading retail chain in Myanmar, is partnering Sandanila, a financial intermediary firm, to set up City Invest Fund which will target investments in SME food manufacturers in Myanmar, according to an announcement.
— DealStreetAsia

Myanmar Considers Alternatives To Controversial China-funded Dam, Cardinal Speaks Out Against Project
A Myanmar government project commission is considering alternatives to the controversial Chinese-backed Myitsone Dam on the Irrwaddy River in the northern state of Kachin, which is politically unstable. The project has been stalled since 2011 in the face of considerable public opposition due to environmental and social impacts.
— Ooskanews

Rohingya infiltration continues unabated: 7 children, suspected to be trafficked, detained in Tripura
Guwahati: Seven Rohingya children, who were on their way to Assam, have been detained on Sunday by the Railway Protection Force (RPF) at a railway station in Tripura.
— My Nation

 

Feature photo Yangon International School

This week’s Myanmar morning news feature photo acknowledges Chinese New Year, 2019.

 

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.

 

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Sreypov Men recently completed a course of study in International Relations at the Institute of Foreign Languages.

She commenced as an intern at AEC News Today and was appointed as a junior writer/ trainee journalist on April 2, 2018

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