Myanmar Morning News For July 5

UMFCCI to conduct business survey
THE UNION of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) will conduct a survey of Myanmar’s businesses development with assistance from foreign partners, according to a statement by U Zaw Min Win, the President of UMFCCI in yesterday’s Myawady Daily news.
– Global New Light of Myanmar

Thailand, Myanmar approve border road development project
Thailand and Myanmar have passed a project to develop a border road at the 8th meeting of Thailand-Myanmar Joint Coordination Committee (JCC) for the comprehensive development of Dawei Special Economic Zone and related projects.
– VietnamPlus

Myanmar eases rules to magnetize more investment
With its abundant natural resources and growing domestic market, Myanmar has become one of the most attractive investment destinations in the ASEAN
– Thailand Business News

Thai soft loan for two-lane project to seek parliamentary approval
The eighth Joint Coordinating Committee (JCC) meeting was held in Thailand on June 29-30 and has decided to seek parliamentary approval in order to ask Thailand for a soft loan to fund the two-lane project.
– The Myanmar Times

Ayeyawady region gov’t seeking micro-grid investment
Ayeyawady region government will invite investment to create a micro electrical generation and grid system to supply 52 village-tracts in Ayeyawady region, said U Win Htay, the minister for Ayeyawady Region Electrical Power, Energy, Industry and Transport at a meeting which was held at the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) on 3 July.
– Global New Light of Myanmar

Myanmar fisheries exports down, prawn farming under strain
MYANMAR’s weekly fisheries exports to China declined by 200 tonnes 17-23 June compared to the previous week.
– Global New Light of Myanmar

Domestic tourism growing faster than foreign visits
Domestic tourism is on the rise. Myanmar recorded some 7.1 million domestic travellers from August 2016 to April 2017, according to U Myoe Gyi, vice chairman of the Domestic Pilgrimages and Tour Operators Association.
– The Myanmar Times

Fees for foreigners at travel destinations may lower hotel occupancy in Mandalay
Admission fees for foreigners visiting cultural heritage sites in Mandalay may impact hotel businesses, according to a report in Myawady Daily yesterday.
– Global New Light of Myanmar

Regional development fund spending under spotlight
Union Auditor-General Maw Than told media yesterday that his office has begun checking the spending by region and state development funds under the previous government after a session of Upper House of parliament.
– Eleven Myanmar

Myanmar-centric MIL raises $7.3m in equity fundraising for investment pipeline
Myanmar Investment International (MIL), the AIM-listed investment company dedicated to investments in the frontier market, on Tuesday announced the closing of a $7.3-million equity fund raising exceeding its original target of $3 to $5 million.
– Deal Street Asia

Acecook presses for tenfold surge in Myanmar noodle sales
Japan’s Acecook aims to sell around 3 million servings of instant noodles monthly in Myanmar by March, hoping a new factory in the country will multiply previous figures by 10 or more.
– Nikkei Asian Review (paywall)

Oway digitizes Myanmar’s taxi market
The Global New Light of Myanmar Daily spoke with U Nay Aung, founder and chief executive officer of Oway Ride, one of a number of mobile application-based transportation service company in Myanmar whose competitors include international taxi firms like Uber and Grab.
– Global New Light of Myanmar

Belt and Road must learn from mistakes of Myitsone Dam, says academic
The success of China’s Belt and Road scheme hinges on whether Beijing can learn from the mistakes of Myitsone Dam and engage with Myanmar on an equal basis, the chair of a Singapore-based think tank told The Myanmar Times.
– The Myanmar Times

Mob in western Myanmar kills Rohingya despite police guards
A mob in Myanmar’s western Rakhine State killed a member of the Muslim Rohingya ethnic minority and injured six others who were on a police-guarded trip Tuesday from the displacement camp where they live to the city that many Rohingya were forced to flee five years ago.
– The Seattle Times

EU issues statement in support of media freedom in Myanmar
The European Union Delegation has issued the following statement in agreement with the EU Heads of Mission in Myanmar.
– Burma News International

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.