Myanmar Morning News For June 9

Myanmar Morning News For June 9

Myanmar morning news

Government vows more reforms as it sees economy taking off this year
The government has plans to intensify reforms to boost growth and further attract foreign investments as it sees the economy taking off this year, said Union Minister U Kyaw Win of the Ministry of Planning and Finance.
The Myanmar Times

Central bank to stop fixing kyat value
The Central Bank of Myanmar will no longer fix foreign currency exchange rates and will start introducing an interbank market rate in late 2017, according to Dr Sandar Oo, the managing director of the Ministry of Planning and Finance, at the Myanmar Investment Forum 2017 held at the MICC-2 in Nay Pyi Taw.
Eleven Myanmar

Myanmar needs $650 billion of investment until 2030: Investment Forum
Some international organisations have estimated that Myanmar requires US$650 billion in investment until 2030 and US$320 billion needs to be invested in the country’s infrastructure, said Vice President Myint Swe.
Eleven Myanmar

Burma Signals for Foreign Investment
Burma’s businesspeople are expecting foreign investments to help launch their projects after buying thousands of acres across the country to develop industrial zones and large-scale operations, according to the Myanmar Investors Development Association (MIDA).
The Irrawaddy

New electricity generation and distribution planned for Sagaing Region under five year plan
The government will build at least three new power plants and electrical distribution systems in Sagaing Region under a multibillion kyat 2017-2022 plan of Ministry of Electricity and Energy plan, according to a Myanmar News Agency report on yesterday’s Pyithu Hluttaw proceedings.
Global New Light of Myanmar

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IRD lowers stamp duty on property
The Internal Revenue Department (IRD) has announced that stamp duty for buying, transferring and mortgaging property will be reduced to 4 percent.
The Myanmar Times

National education plan ensuring all nationals’ right for education underway
The Ministry of Education is implementing the national education strategic plan (2016-2021) in accordance with national education law to ensure all citizens’ right to basic education, higher education, technical education and vocational education, said Union Minister for Education Dr. Myo Thein Gyi in the 2nd Amyotha Hluttaw 5th regular session 11th day meeting.
Global New Light of Myanmar

Irrawaddy River Urban Project Gets Green Light
The Mandalay divisional government has allowed a company to begin the initial stages of a major development project on an island in the Irrawaddy River despite protests from locals and environmentalists.
The Irrawaddy

Decentralise and let regions and private sector develop infrastructure: WEF takeaways
Key lessons from the World Economic Forum on ASEAN include tapping in the private sector when making infrastructure policies and decentralisation.
The Myanmar Times

MOU opens doors to Myanmar for more Singapore firms
Homegrown transport and logistics firm Bok Seng Group signed an agreement with Myanmar’s Ayeyar Hinthar Group earlier this year to develop a one-stop logistics hub in the Pathein Industrial City — the region’s first large-scale industrial park.
Today Online

China’s $10 billion strategic project in Myanmar sparks local ire
Days before the first supertanker carrying 140,000 tonnes of Chinese-bound crude oil arrived in Myanmar’s Kyauk Pyu port, local officials confiscated Nyein Aye’s fishing nets.

Car rallies expected to rev up tourism with Thailand
Tourism between Myanmar and Thailand is set to accelerate after the Tourism Authority of Thailand and Myanmar Tourism Marketing Committee (MTM) decided for the first time to cooperate on allowing rally cars to pass through their common border.
The Myanmar Times

Chinese traders prefer Hpakant over Mandalay gems market
Buyers from China have found it much easier to do business in the mines of Hpakant than in Mandalay’s Maha Aung Myay Gems Trading Centre, the city’s largest emporium which features more than 1000 shops, especially if they want to buy raw or uncut jades.
The Myanmar Times

New export markets boost rice sales
New international rice export markets mean earnings have tripled to US$117 million so far this financial year until May 26, compared with last year, according to Ministry of Commerce.
Eleven Myanmar

Domestic cement production reduces imports this FY
New foreign competitors in the domestic cement industry have reduced demand this fiscal year for more expensive cement imports into Myanmar, according to a report on Wednesday in Myawady Daily newspaper.
Global New Light of Myanmar

Humanitarian leaders to gather at Aid & Development Asia Summit next week
More than 250 high-profile representatives from NGOs, businesses, government and UN organisations are set to convene at the Aid & Development Asia Summit in Nay Pyi Taw next week to exchange innovative and sustainable solutions for improving aid delivery and development strategy in Southeast Asia.
The Myanmar Times

Meet Mr. Finance, The Chatbot Schooling Myanmar’s Microentrepreneurs In Money
Imagine that you’re an aspiring entrepreneur in Myanmar.

Onion price rises
One viss (1.6 kilograms) of onions has reached over Ks1,000 (US$0.7) as the demand rises, sources say.
Eleven Myanmar

31 bodies found from missing plane, survivors ‘unlikely’
Rescuers pulled 31 bodies from the sea off the southern coast of Myanmar yesterday, one day after a military plane went missing with 122 soldiers, family members and crew, prompting tears from relatives of those aboard and donations from those wishing to help.
Global New Light of Myanmar

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Feature photo Asian Development Bank
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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