Myanmar morning news for February 8, 2019

Chinese company proposes new circular railroad for Yangon
Representatives from China Railway Engineering Co Ltd (CREC) have met with the Yangon Region government to discuss the possibility of constructing of a new Yangon circular railroad, U Than Naing Oo, a member of the Yangon Region Hluttaw’s Transportation, Communications, Construction and Industry Committee told The Myanmar Times.
— Myanmar Times

Myanmar Passes Industrial Design Law
On January 30, 2019, Myanmar’s long-awaited Industrial Design Law—the first legislation specifically addressing the protection of industrial designs.
— Lexology

Cambodia, Myanmar mirror decline of democracy in Southeast Asia
Political freedom across the globe has been declining in the last 13 years, and Southeast Asia is no exception.
— Southeast Asian Press Alliance

Central bank to issue official remittance licences soon
The Central Bank of Myanmar (CBM) will grant official remittance Llicences to authorised money changers within two months, CBM Deputy Governor U Bo Bo Nge told the media on Wednesday.
— Myanmar Times

Value of stocks traded on Yangon Stock Exchange slide
The value of stocks traded on the Yangon Stock Exchange (YSX) in January slid to K526 million from a record of K1.2 billion last year, according to the monthly report released by the stock exchange, state media reported.
— Mizzima

Myanmar’s Parliament Votes to Approve Committee to Reform Constitution
Myanmar’s full parliament on Wednesday approved a motion to form a committee to draft amendments to the constitution, despite strong opposition by military legislators whose political power is guaranteed by the charter.
— Radio Free Asia

Upgrade infrastructure to attract global manufacturing, GMS told
There is a significant need for Mekong region countries to upgrade their infrastructure to take on a larger share of global manufacturing, said Sok Siphana, chairman of independent Cambodian think-tank Asian Vision Institute (AVI).
— Myanmar Times

Anti-Graft Commission eyes grand corruption
Anti-Corruption Commission is trying to effectively control outbreaks of corruption in the government’s tender processes which is a major center of grand corruption, said Aung Kyi, Chair of Anti-Corruption Commission, at the technical course on Corruption Prevention Unit (CPU) at Kempinski Hotel in Nay Pyi Taw on February 5.
— Eleven Myanmar

Local youths seek digital solutions to world problems
Two young adults from Myanmar will compete with others from around the world for the funds and support they need to harness the power of technology to solve important social issues.
— Myanmar Times

Myanmar MFI Hayman Capital raises $2m debt from Swiss Symbiotics SA
Hayman Capital, a deposit taking microfinance institution operating in Myanmar, has closed a $2-million debt investment from Switzerland-based social impact investor, Symbiotics SA, according an announcement.
— DealStreetAsia

Myanmar Cardinal lashes out at controversial dam on Irrawaddy
Cardinal Charles Bo of Myanmar is vehemently opposing the China-backed Myitsone dam on the Irrawaddy River saying it is “the death sentence” to the people of Myanmar.
— Newsbook

Red Dot closure concerns spread to industry, draws light on licensing procedures
Disenfranchised agents of the now defunct Red Dot Network Ltd plan to file a court case against the payment-solutions provider after being turned down by the Consumer Protection Central Committee, which said their case could not be handled under the Consumer Protection Law.
— Myanmar Times

Affordable English-language bookseller arrives in Myanmar
A Malaysian seller of affordable English books with a unique business model has branched out to Myanmar to capture demand among the country’s legion of English-language learners.
— Nikkei Asian Review (paywall)

Bangladesh Seals Border After Buddhists Flee Fighting in Myanmar
Fearing fresh violence in Myanmar’s Rakhine state, at least 160 citizens—many of them Buddhists—have fled into Bangladesh over the last three days, government officials said Wednesday, while announcing that the South Asian nation was sealing its southeastern border.
— Radio Free Asia

Making a sober Myanmar landmark a party venue
The Secretariat building is more than just an important historical structure in Myanmar, it’s a powerful political landmark. Next week, a host of American companies, including Krispy Kreme, will set up temporarily on its grounds.
— SBS

Worker from Myanmar dies on expressway
A Burmese worker was killed when his truck collided with the rear of a trailer truck on the Kanchanapisek elevated expressway in Bangkok on Thursday, police said.
— The Nation (very annoying popup)

Myanmar military overruns insurgent camps in northwestern region
Myanmar government troops have captured two base camps of two ethnic insurgent groups in Naga Self-Administered Zone in Sagaing region, Myanmar News Agency reported Thursday.
— Xinhua

Thai company to conduct impact study for offshore block
Thailand’s national oil and gas company PTT Exploration and Production Public Co Ltd will conduct an environmental impact assessment (EIA) of the offshore block called M9 before drilling exploratory and test wells in the second quarter of the year, the company has told Myanmar Times.
— Myanmar Times

Chinese traditional lion, dragon dance contest kicks off in Myanmar’s Yangon
Chinese traditional lion and dragon contest kicked off in Myanmar’s Yangon, in celebration of Chinese Lunar New Year, late Wednesday.
— Xinhua

Myanmar has kept three-month FX reserves: CBM Dy Governor
The country has kept foreign exchange reserves for about three months, said Bo Bo Nge, Deputy Governor of the Central Bank of Myanmar at a press conference at the Central Bank in Yangon on January 6.
— Eleven Myanmar

20 Kg Gold Worth 6.73-Crore Smuggled From Myanmar Seized In West Bengal
Authorities seized nearly 20 kg gold worth Rs. 6.73 crore from West Bengal’s Howrah, allegedly smuggled into the country from Myanmar. Directorate of Revenue Intelligence officials have arrested two persons in the matter.
— NDTV

Overconfident Ceres yields to Myanmar
Unceremoniuosly booted out of the AFC Champions League qualifiers, Ceres Negros coach Risto Vidakovic said the Busmen paid the price for somehow underestimating a match-fit Yangon United in a first-round encounter they expected to hurdle given the homefield and the psychogical edge they enjoyed.
— PhilStar

Concerns grow over safety of ancient tower in Mandalay
Concerns are growing over the structural integrity of the watchtower in Mandalay Palace, home of the last Konbaung Dynasty, and one of the most popular tourist spots in the country, said people in the tourism industry.
— Myanmar Times

Myanmar’s narcotic cash crop
Myanmar is the biggest source of opium in the world after Afghanistan. Despite government programs and police crackdowns, people keep harvesting the lucrative crop. It’s used to produce the narcotic heroin, feeding demand for the drug from around the world.
— DW

Twenty small quakes hit country so far in 2019
Twenty small earthquakes struck the country in the first weeks of 2019, though none of them caused damage or casualties, according to the Department of Meteorology and Hydrology.
— Myanmar Times

Despite Threats, Myanmar Opium Farmers Stay Committed To Illegal Crop
The Myanmar government have had a longstanding conflict with opium farmers on the country’s mountainous eastern region. The country even went as far as given these farmers incentives just to lure them out of the illegal opium trade. Despite these incentives, opium farmers continue their operation due to the high profitability of the illegal crop.
— Business Times

Over 180 Chin and Rakhine ethnics fled to Bangladesh
More than 180 Rakhine and Khami (Khumi) fled to Bangladesh on February 3 and 4 due to fighting in Chin State, sources said.
— Eleven Myanmar

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.