Myanmar morning news for February 5

Myanmar morning news for February 5

Myanmar morning newsMyanmar Opens Up For Foreign Insurance Companies
Myanmar’s financial regulator will begin granting licenses to foreign-owned insurance companies, allowing them to operate in the market by April this year.
— Investvine

Myanmar Investment Commission approves nine investment proposals which will create over 5,700 job opportunities
The Myanmar Investment Commission (MIC) meeting (2 / 2019) was convened at the meeting room of MIC in Yangon on 4 February 2019.
— Global Newlight of Myanmar

Export earnings from industrial finished products up
From October 1 to January 25 of this fiscal year, the export earnings from industrial finished products hit 4,636.771 million USD, up 418.388 million compared with the same period last year, according to the figures from the Ministry of Commerce.
— Eleven Myanmar

Myanmar manufacturing PMI improves for the third month running
Operating conditions across the Myanmar manufacturing sector improved for the third month running in January.
— Nikkei Asian Review (paywall)

Yangon sets sights on smart-city goal
As the world advance, Yangon city has to become a smart city and also be made more liveable, said Yangon Region Chief Minister U Phyo Min Thein during the 10th anniversary of Barcamp Yangon held recently.
— Myanmar Times

Yoma Bank offers $1.46m loan to Myanmar MFI Mahar Bawga Finance
Myanmar’s Yoma Bank is offering a K2.2-billion ($1.46 million) loan support to Mahar Bawga Finance Company Limited (MBF) enabling the firm to meet the demand of an additional 5,000 customers.
— DealStreetAsia

China Proposes Skytrain For Yangon
China has proposed to fund a $1.5-billion elevated railway project in Myanmar’s commercial capital, Yangon. China Railway Eryuan Engineering Group Co., Ltd (CREEC) made a presentation about its planned project to develop an elevated railway to lawmakers in a media room in the regional parliament on January 28, according to a report in The Irrawaddy.
— Investvine

Trademark Law and Industrial Design Law enacted
Myanmar has enacted legislation to protect intellectual property (IP)in another step forward for businesses in the country.
— Myanmar Times

Myanmar’s opium farmers cling on to lucrative crop
Fields of purple opium poppy stretch across the pastures and peaks of mountainous eastern Myanmar, with many farmers reluctant to give up the profitable cash crop in spite of incentives offered.
— Channel NewsAsia

Negotiation on Kyaukphyu Deep Seaport Project to be finalized this year
Myanmar and China will finalize the negotiation on the development of Kyaukphyu Deep Seaport Project during this year, said Dr. Than Myint, Union Minister for Commerce and Chair of the Central Working Committee for the Special Economic Zone.
— Eleven Myanmar

Tourists visit Ngapali beach on board cruise
A group of 12 tourists visited Ngapali beach on board the Ms Silver Discoverer cruise ship, under an arrangement with Destination Asia Co. Ltd, supervised by the Ministry of Hotels and Tourism.
— Global Newlight of Myanmar

Scores of Thais arrested in Myanmar for illegal entry
Myanmar authorities asked to help find fugitives in major cases have detained 81 Thai nationals near the border with Chiang Rai province on charges of illegal entry.
— Bangkok Post

CSOs form temporary committee for total shutdown of Myitsone Dam Project
Civil Societies Organizations (CSOs) formed a temporary committee for the complete cancellation of Myitsone Dam Project at an educative talk held in conjunction with the CSOs meeting, at the Free Funeral Service Association (Yangon) in North Dagon Township on February 3.
— Eleven Myanmar

Tatmadaw MPs object to lower marriage age
Tatmadaw (military) MPs in parliament have objected to a clause in the Children’s Rights Bill allowing marriage at or under 16.
— Myanmar Times

Former MP Hla Swe says he does not agree with constitutional amendments
Former MP Hla Swe aka Bullet Hla Swe said at a mass rally welcoming the military’s announcement of ceasing fire, that he would not agree to amendments which would jeopardize the constitution and endanger the country’s sovereignty.
— Mizzima

Myanmar’s Karen rebels mark 70th anniversary of struggle
Thousands of people sporting traditional ethnic costumes and Karen rebel fighters showing off their guns marched, sang and danced last week to celebrate 70 years since the start of the struggle for greater autonomy from Myanmar.
— Bangkok Post

On track to meet Yangon’s growing water needs
With the hot season not far away, water shortages are set to become a problem again in many parts of Yangon.
— Myanmar Times

Myanmar army launches attack on ULFA camp
The Myanmar Army launched an attack on an abandoned camp of the banned militant outfit United Liberation Front of Assam (ULFA) in Northern Myanmar at Taga, the Nagaland Post reported.
— Mizzima

DAWN Microfinance gears up for higher borrower demand
Early Dawn Microfinance Company Ltd (DAWN) is expecting lending in Myanmar to pick up on the back of the launch of a credit bureau in the country later this year, and as the banking sector opens up.
— Myanmar Times

MNDAA carries out forced recruitment of villagers in Kunlong Township
Myanmar National Democratic Alliance Army (MNDAA) forcibly recruited the locals from villages in Kunglong Township in Shan State (North), according to a statement issued by the Commander-in-Chief’s Office on February 2.
— Eleven Myanmar

Myanmar’s Nobel laureate Aung San Suu Kyi could release 2 jailed journalists. She has not.
When Vice President Pence met with Myanmar’s Aung San Suu Kyi at a major Asian summit in Singapore last November, they found themselves at odds over one issue in particular: The case of two Reuters journalists jailed in Myanmar for investigating suspected atrocities.
— Washington Post

Flexible Pass expands to Mandalay, diversifies services
Sully Bholat, founder and chief executive of Flexible Pass, Myanmar’s first fitness booking app, is expanding into Mandalay, where interest in mixed martial arts, yoga and gym classes is growing along with the middle class.
— Myanmar Times

The wait’s nearly over for foreign insurers
After years of waiting, foreign insurers have been given the go-ahead to enter the domestic market, to the chagrin of their Myanmar competitors.
— Frontier Myanmar

India halts pulses imports; mung bean prices hit three-month low
India’s provincial court issued a notice halting importation of pulses and beans on 30 January, prompting Indian merchants to stop purchases, which led to prices of mung beans sliding to a three-month low in the domestic market, said traders at the Bayintnaung commodity depot.
— Global Newlight of Myanmar

Ten reporters arrested for extortion in Bago Region
Ten reporters for a Nay Pyi Taw news journal have been arrested by police over accusations of extortion, the Ministry of Information said in a statement.
— Myanmar Times

Aid Workers Race to Batten Down Rohingya Refugee Camp with No Sign of Crisis Ending
With no sign of the crisis ending and the looming monsoon and cyclone season starting from May, aid workers at Cox’s Bazar are rushing to secure the camps for the long haul.
— The Irrawaddy

Thousands march to support Tatmadaw
Thousands of people marched in Yangon yesterday to show their support for the Tatmadaw (military), which has been severely criticised by the international community for allegedly committing grave human rights abuses against Muslims in Rakhine State.
— Myanmar Times

Stop Pigging Out and Save the Planet, Chinese Told Ahead of Lunar New Year
As Chinese people celebrate the new Year of the Pig this week, environmental campaigners are urging them to eat less pork.
— The Irrawaddy

 

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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