Myanmar morning news for January 3, 2019

Investing in Myanmar – not when but how
DECADES of stunted development under military rule gave way to Asia’s newest democracy after victory by Aung San Suu Kyi’s National League for Democracy (NLD) in 2015. This, along with the lifting of country-based sanctions by the US government, was supposed to be the turning point for Myanmar, thought to be the “last economic frontier” in Asean.
— Business Times

New Year Opens With Fighting, Attack on Top Official in Myanmar’s Rakhine State
Myanmar government troops opened 2019 with exchanges of gunfire with an ethnic armed organization in Rakhine state’s Buthidaung township, while police accused the same rebel group of attacking a convoy transporting the regional chief.
— Radio Free Asia

Vietnam Ride-Hailing Service Expands To Myanmar
Vietnam’s first homegrown ride-hailing service, FastGo, has kicked off operations in Myanmar as part of its Southeast Asia expansion plans. The firm partnered with Myanmar conglomerate Asia Sun Group in a joint venture and began offering its services starting from December 28.
— Investvine

Myanmar ready to open door to foreign insurers
Myanmar is bringing foreign companies into its insurance market, allowing both life and nonlife insurers to do business here.
— Nikkei Asian Review (paywall)

Govt counting on Asian travellers to boost tourism
Myanmar’s tourism sector has borne the brunt of the Rakhine refugee crisis, with growth in tourist arrivals dropping to 1 percent in 2018 compared with 7.1pc in 2017, according to the World Bank. The number of western tourist arrivals fell the most, more than offsetting arrivals from Asia.
— Myanmar Times

Fuel oil prices fall by 20% to 35% since last October
Local fuel prices have decreased by 20 percent to over 35 percent since October 10 due to decreasing global oil prices and slight fluctuation in dollar price, according to local filling stations.
— Eleven Myanmar

Myanmar says police attacked as western fighting displaces thousands
Myanmar police have clashed with insurgents in the troubled western state of Rakhine, state-run media said on Wednesday (Jan 2), as intensified fighting continued between the security forces and an armed group representing the Buddhist Rakhine ethnic group.
— Channel NewsAsia

MAB launches wealth banking service as competition rises
Myanmar Apex Bank (MAB) has launched a special wealth banking and rewards programme – MAB Gold Wealth Banking – for high net worth individuals in Myanmar.
— Myanmar Times

In Second Batch, 6 Rohingyas Get Deported To Myanmar: Sources
A Myanmar national from the Rakhine state, believed to be a Rohingya Muslim who was detained in India over illegal entry, has been sent back via the Manipur border on Wednesday, sources in the Manipur Police said.
— NDTV

Digital landscape rapidly changing
Today’s smartphones can now show people what apps they use most frequently, how much time they spend on them and remind them to take a break. Moreover some mobile applications can have different settings for use by adults and children and limit applications and games by age, because many children use their parents’ phones.
— Myanmar Times

Myanmar shuts down border crossing to China
The closure of a border crossing to China in Myanmar’s northern Shan state has stranded more than 1,000 trucks transporting fruit, causing heavy financial losses for Myanmar farmers and traders exporting produce and seafood to Chinese consumers.
— Fresh Plaza

Myanmar reforms regulatory regime ahead of upstream offering
Myanmar is preparing incentives to lure upstream investors as part of a planned bidding round due to be launched during the first quarter of this year.
— Interfaxenergy

Untimely rains delay salt production in Ayeyawady Region
Salt production in Ayeyawady Region is sluggish due to frequent rains, according to salt farmers.
— Eleven Myanmar

Railway works to recover lost transport market share
“Fried rice with chicken or fish, only K500 a plate!” a train hawker shouted at the top of her lungs on a train from Nay Pyi Taw to Yangon in the wee hours one day last week, rousing passengers from their sleep.
— Myanmar Times

Depression in South China Sea may bring rain to southern Myanmar
Depression formed over South China Sea is likely to move to westwards and may cause rain in southern areas of Myanmar from January 4, said Hla Tun, deputy director of Department of Meteorology and Hydrology (DMH).
— Eleven Myanmar

Myanmar to make utmost efforts to ensure security of CMEC
Since the beginning of 2018, the friendly ties between China and Myanmar have continued their steady progress, with the two nations deepening pragmatic cooperation in a variety of areas. On September 9, 2018, the two sides signed a memorandum of understanding (MOU) in Beijing to build the China-Myanmar Economic Corridor (CMEC), one of the key projects of the China-proposed Belt and Road initiative (BRI).
— Global Times

India’s North-east eyes S-E Asia as trading partner via Myanmar
India’s Seven Sisters – Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland and Tripura – and the State of Sikkim are ready to trade across borders through Myanmar with Asean states.
— Business Times

Maungdaw trade resumes after three-day suspension due to Bangladeshi elections
Maungdaw Border Trade Camp resumed trade activities on January 1 after Bangladesh had closed its ports for three days during the election period.
— Eleven Myanmar

Feature photo Myanmar Fire Services Department

This week’s morning news photo focuses on the death, pain, and loss that typically occurs at this time of year on Asean roads due to drunk driving, speeding, and a failure to wear protective helmets when travelling on motorbikes.

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.