Myanmar Morning News For July 6

Myanmar trade deficit reaches over US$1 B
Myanmar’s trade deficit has reached more than US$1 billion as imports have overtaken exports, according to Ministry of Commerce.
– Eleven Myanmar

Japanese businesses express no interest in Dawei or Kyaukphyu SEZ
Japanese businesses have not indicated any interest in Dawei SEZ or Kyaukphyu SEZ, and see the lack of reliable power supply as the biggest challenge in Myanmar, the chair of the Japanese Chamber said.
– The Myanmar Times

Yangon’s economy–the strength of the nation
Yangon Region is a place where most of the income of the nation earns.
– Global New Light of Myanmar

Tax revenue increased by K203b for second half of fiscal year 2016-17
In the second half of the last fiscal year, from October 2016 to March 2017, receipts from taxes on oil and natural gas extraction and income taxes were lower than expected.
– The Myanmar Times

Garment sector earned nearly US$400 million
Myanmar earned nearly US$400 million from garment sector exports in the past three months, according to the official figures of the Commerce Ministry.
– Global New Light of Myanmar

Mandalay to slap higher fines on errant gold shops
Gold shops which do not collect stamp duty for their sales would be penalised with stiffer fines starting July 3, an official of the Mandalay Region International Revenue Department (IRD) said.
– The Myanmar Times

World Bank has committed over $2b in Myanmar as of June
The World Bank is currently supporting 43 active projects in Myanmar, Cambodia and Laos, with commitments of over US$2.7 billion as of June, according to the World Bank’s press statement.
– The Myanmar Times

Local, foreign investment invited to electrify 26 towns in Ayeyawady
Local and foreign investment will be invited in an effort to provide electricity to 26 towns in Ayeyawady Region, said Win Htay, the regional minister for electric power and energy and for industry and transport.
– Eleven Myanmar

KBZ wins Best Bank in Myanmar from Finance Asia
In the ceremony for the best banks of 2017 from different Asian countries held by London based Finance Asia on 29 June, KBZ bank won the Country Awards for Achievement 2017: Best Bank in Myanmar, making it the second year in a row.
– Global New Light of Myanmar

Ban lifted on going to Malaysia for work
Myanmar has lifted a six-month ban on sending workers to Malaysia, a senior labour official said, as the country struggles with influx of tens of thousands of returning migrants from neighbouring Thailand.
– The Myanmar Times

Myanmar, Thailand negotiate to solve migrant labour issue
In an attempt to solve the growing problem of undocumented Myanmar migrant workers in Thailand who are returning to their homeland out of fear of a new labour decree, the two countries are negotiating on issuing official documents to workers, but the talks are still ongoing and incomplete, said Union Minister for Labour, Immigration and Population U Thein Swe at a news conference in Nay Pyi Taw yesterday.
– Global New Light of Myanmar

Taking off in Indochina
Y&R Yangon’s Milla Chaplin shares five tips for a unique brand challenge: Myanmar’s crowded airspace.
– Campaign Asia

Gagging the messengers of Myanmar’s wars
The arrests of three Myanmar journalists in recent days has focused attention on the squeeze of media freedoms and the residual repressive laws still used by the military and government to target any perceived critics.
– Asia Times

Hunger rife among Rohingya children after Myanmar crackdown – WFP
More than 80,000 young children may need treatment for malnutrition in part of western Myanmar where the army cracked down on stateless Rohingya Muslims last year, the World Food Programme (WFP) said on Wednesday.
– Reuters

Feature photo Eddy Milfort
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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.