Myanmar morning news for April 1, 2019

How new banking regulations will affect foreign equity in Myanmar
As part of ongoing efforts to liberalise the financial services industry and increase credit to the private sector, the Central Bank of Myanmar (CBM) has introduced regulations to facilitate foreign investment in domestic lenders.
— The Borneo Post

Myitsone Dam protests will impact Myanmar economic development: expert
A campaign aimed at putting an end to the Myitsone Dam project is reportedly to be held in Myanmar’s Yangon on Monday, which Chinese experts said will exert a negative influence on the Southeast Asian country’s economic development.
— Global Times

After 3 years, Suu Kyi running out of time to energize Myanmar economy
Myanmar State Counselor Aung San Suu Kyi’s government is racing against the calendar. Her National League for Democracy marks the third anniversary of its rise to power on Saturday, but this is only a reminder that she has less than two years to rev up the economy before the next general election.
— Nikkei Asian Review (paywall)

Myanmar’s sea trade reaches over 11 bln USD from Oct. to mid-March
Myanmar’s trade with foreign countries through sea route reached over 11.05 billion U.S. dollars as of March 15 in the current fiscal year 2018-2019 starting in October last year, according to Myanmar’s Commerce Ministry Saturday.
— Xinhua

Watermelon exports to China through Muse gate on the rise
Exports of watermelons and muskmelons to China through the Muse border gate have risen significantly, with around 700 fruit trucks entering the Muse market every day.
— Global Newlight of Myanmar

Gold mining companies still owe govt
Small gold mining companies still owe more than 1200 ticals (19.6 kilogrammes) of gold to the government, Mandalay Region Auditor General Daw Khin Aye Swe told the Mandalay Region Hluttaw.
— Myanmar Times

Investment, not criticism, will heal Rohingya woes
What’s the solution to the Rohingya crisis? It’s a question that affects the lives of hundreds of thousands of Rohingya people in temporary shelters in Bangladesh and needs to be urgently answered.
— Mizzima

China-built offshore fixed pilot station opens in Myanmar
The offshore fixed pilot station which was constructed by a Chinese engineering company opened in Myanmar’s Yangon on Saturday.
— Global Times

Myanmar works to improve corruption image
Myanmar has fallen further in a global corruption ranking but could improve its image following some high-profile arrests this year and as the government moves to strengthen the anti-graft agency.
— Myanmar Times

Ministry to release list of foreign life insurance companies soon
Ministry of Planning and Finance will release the list of foreign life insurance companies on April 5, according to its statement.
— Eleven Myanmar

Young Myanmar textile entrepreneurs to attend China study programme
Young entrepreneurs from Myanmar will visit China under a programme to study textile and garment manufacturing technologies in the first week of June, according to the Myanmar Textile Manufacturers’ Association.
— Mizzima

Border trade between Myanmar, Bangladesh decline
Border trade value between Myanmar and Bangladesh, as of 15 March, reached US$ 16.12 million, which showed a decrease of $ 1.9 million, compared with the same period last year, according to statistics provided by the Ministry of Commerce.
— Global Newlight of Myanmar

Nepal, Myanmar collaboration for infrastructure development
Federation of Contractors’ Association of Nepal and Myanmar Licensed Contractors Association signed a memorandum of understanding to move ahead in collaboration for the infrastructure development.
— Setopati

JICA plans two-step loans for farmers to buy farm machinery
Myanmar Agricultural Development Bank will loan Ks 50 million to an individual farmer and K500 million to a group of farmer who want to purchase rice mills, oil mills and combined harvesters under a two-step loan plan of Japan International Cooperation Agency (JICA), according to sources from the bank under the Ministry of Planning and Finance.
— Eleven Myanmar

Some urge government intervention to fix ceiling prices for commodities
Government intervention is needed to fix ceiling prices for certain agricultural products because they are sold at exorbitant prices, regardless of whether agricultural production costs are high or not, according to consumers.
— Global Newlight of Myanmar

Life imprisonment penalty set for child rape
The Myanmar government has amended the penal code to set a penalty of life imprisonment for rape of women and children.
— Myanmar Times

Myanmar army has developed new 105mm light tank based on 2S1 chassis
Myanmar army has developed a new 105 mm light tank based on the chassis of Russian-made 2S1 tracked self-propelled howitzer fitted with a new Chinese-made two-man turret armed with one 105 mm cannon. A picture of the new light tank was released on the Facebook account of the Myanmar armed forces.
— Army Recognition

MNA to offer 15 per cent discount on some flights to Thailand
Myanmar National Airlines (MNA) will announce a low fare offer in which passengers would be able to travel on some international flights with a 15 per cent discount, state media reports.
— Mizzima

MADB to disburse agricultural loans in Rakhine State
For the development of Rakhine State, Myanmar Agricultural Development Bank (MADB) plans to disburse agricultural loans to farmers who own more than 10 acres of farmland at a rate of Ks 150,000 per acre, according to Myanmar Rice Federation (MRF).
— Eleven Myanmar

Myanmar Ambassador at National Chamber
The National Chamber of Commerce of Sri Lanka will organise a bilateral session with Ambassador of Myanmar Han Thu at the Chamber auditorium on Wednesday, April 10 from 3.00 p.m. to 4.30 p.m. followed by a Q & A. The objective of the session is to discuss business trends, trade potential, opportunities for export-import, investment and other services available in Myanmar.
— Sunday Observer

Myanmar Government Sorry About Fighting in Rakhine State
The Myanmar government has acknowledged the plight of the innocent civilians and families in the conflicted Rakhine State. Zaw Htay, the President Office spokesman said the government ‘feels sorry’. He said the government is extremely sorry to see people fleeing from their homes.
— Devdiscourse

Solar power lighting up homes in Myanmar
Of the 630 million people who live in Southeast Asia, over 100 million do not have access to electricity.
— Myanmar Times

Digital technology key for better future of MSMEs
Micro, Small, and Medium Enterprises, or MSMEs, make up 99 percent of Myanmar’s businesses. Therefore, only when MSMEs are developed can the country’s economy progress.
— Global Newlight of Myanmar

Myanmar seizes largest crystal meth haul this year
YANGON: Myanmar authorities seized more than 1,700kg of crystal meth worth nearly US$29 million in a multi-state operation this week, the biggest haul of 2019 in a country widely believed to be the world’s largest methamphetamine producer.
— Channel NewsAsia

Active Vigor of Myanma Radio and Television
In the 21st century of modern technology, news, literature and other kinds of entertainment are at the tip of our hands with easy access.
— Global Newlight of Myanmar

Roundtable on Revising the Basic Education Curriculum
The roundtable on revising the basic education curriculum for Myanmar part 1 and 2 was broadcasted by MRTV.
— Global Newlight of Myanmar

Losing steam on Myanmar’s railways
Train-loving photographers are helping to keep Myanmar’s last steam locomotives rolling but not for much longer, thanks to big-budget railway upgrades.
— Frontier Myanmar

SPC opens first service station in Myanmar
Singapore Petroleum Company (SPC) opened its first service station in Myanmar on Saturday (Mar 30).
— Channel NewsAsia

Offshore fixed pilot station opened, can handle over 600 ships
An offshore fixed pilot station, located 20 nautical miles from Yangon, was opened yesterday.
— Global Newlight of Myanmar

Thingyan Music festival comprising of top DJs will be held in Yangon
Thingyan Music Festival comprising of top DJs from the world will be held in Yangon four days. It is the 6th time held in Yangon.
— Eleven Myanmar

Feature photo Myanmar Autism Association

This week’s Myanmar morning news photo features World Autism Awareness Day, April 2.

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.