The economic slowdown in China will not affect its position as Myanmar’s most important trade and investment partner, but there are challenges ahead.
While the rest of Southeast Asia has been reeling from China’s economic slowdown, Myanmar has remained relatively immune to the regional contagion with its economy likely to grow at least 8 per cent in the fiscal year ending March 31.
China has already accounted for a big share of foreign direct investment in fiscal 2015-16, with US$665.5 million by November, second only to Singapore’s $2.1 billion, show figures from the Directorate of Investment and Company Administration. China is still by far the single largest investor in Myanmar, with $15.4 billion since 1989, compared with Singapore’s $10.9 billion and Thailand’s $10.3 billion. (Courtesy of Frontier Myanmar)
Tuesday, February 2, 2016
New political era begins in Myanmar
In a modest dormitory in Myanmar’s capital Naypyidaw, novice MP Tin Thit recites a poem he has penned called “No Retreat,” steeling himself to enter Myanmar’s parliament carrying the dreams of a nation left traumatised by army rule.
A poet, editor, activist — and now newly elected MP — he is among hundreds of political newcomers poised to take their seats on Monday in the country’s most democratic legislature in generations, following the huge November landslide win by Aung San Suu Kyi’s National League for Democracy (NLD).
“This is our era,” the newly minted NLD lawmaker told the reporter on Saturday as he prepared for a last-ditch round of parliamentary training organised by his party, brushing off concerns about his and his colleagues’ lack of experience. (Courtesy of gulftoday.ae)
A poet, editor, activist — and now newly elected MP — he is among hundreds of political newcomers poised to take their seats on Monday in the country’s most democratic legislature in generations, following the huge November landslide win by Aung San Suu Kyi’s National League for Democracy (NLD).
“This is our era,” the newly minted NLD lawmaker told the reporter on Saturday as he prepared for a last-ditch round of parliamentary training organised by his party, brushing off concerns about his and his colleagues’ lack of experience. (Courtesy of gulftoday.ae)
Mobile financial services promising in Myanmar
A BOOM in mobile financial services (MFS) is anticipated, thanks to the rapid increase in penetration rate and poor infrastructure in Myanmar, according to Takashi Shigeno, director of KDDI Summit Global Corporation.
He cited three main reasons for this.
"Firstly, more than 70 per cent of the population live in rural areas. Secondly, only 20-25 per cent of adults have bank accounts. Thirdly, Myanmar has a lot of infrastructure deficiencies. There are a lot of difficulties to access banking facilities and power shortages," Shigeno said at the Mobile Money & E-Commerce Summit 2016 last week.
The draft of mobile financial service regulations was completed recently with the support of Japan's Bank of Tokyo-Mitsubishi UFJ (BTMU), KDDI and its local partner Myanmar Posts and Telecommunication (MPT), who are cooperating with BTMU to provide mobile money services in Myanmar.
According to Shigeno, many products will soon be available and the market is likely to evolve quickly. (Courtesy of The Nation)
He cited three main reasons for this.
"Firstly, more than 70 per cent of the population live in rural areas. Secondly, only 20-25 per cent of adults have bank accounts. Thirdly, Myanmar has a lot of infrastructure deficiencies. There are a lot of difficulties to access banking facilities and power shortages," Shigeno said at the Mobile Money & E-Commerce Summit 2016 last week.
The draft of mobile financial service regulations was completed recently with the support of Japan's Bank of Tokyo-Mitsubishi UFJ (BTMU), KDDI and its local partner Myanmar Posts and Telecommunication (MPT), who are cooperating with BTMU to provide mobile money services in Myanmar.
According to Shigeno, many products will soon be available and the market is likely to evolve quickly. (Courtesy of The Nation)
More robust debates, new political tone expected in Myanmar's new Parliament
Myanmar will see the opening of its new Parliament session on Monday (Feb 1), dominated for this first time by Members of Parliament (MPs) from Aung San Suu Kyi’s National League for Democracy (NLD).
The NLD won the November elections by a landslide, capturing 390 national parliamentary seats out of 664. The country’s Union Solidarity and Development Party (USDP) will be stepping aside, having only won 42 national parliamentary seats in the elections.
Many expect more robust debates in a house dominated by the incoming NLD.
“In the past, in the previous Parliament (where the) USDP was the majority, people did not see (them as) a big difference from the military government,” said Saw Kapi, Director at the Salween Institute for Public Policy. “But with the new NLD, because there were some promises that were made by the party during the elections and prior to the elections, people have a lot more expectations.” (Courtesy of Channel NewAasia)
The NLD won the November elections by a landslide, capturing 390 national parliamentary seats out of 664. The country’s Union Solidarity and Development Party (USDP) will be stepping aside, having only won 42 national parliamentary seats in the elections.
Many expect more robust debates in a house dominated by the incoming NLD.
“In the past, in the previous Parliament (where the) USDP was the majority, people did not see (them as) a big difference from the military government,” said Saw Kapi, Director at the Salween Institute for Public Policy. “But with the new NLD, because there were some promises that were made by the party during the elections and prior to the elections, people have a lot more expectations.” (Courtesy of Channel NewAasia)
Suu Kyi allies form Myanmar ruling party after decades of struggle
Hundreds of lawmakers from Aung San Suu Kyi's National League of Democracy were sworn into Myanmar's parliament on Monday, with enough seats to choose the country's first democratically elected government since the military took power in 1962.
The NLD won some 80 percent of elected seats in November's historic vote, catapulting it to power as Myanmar's ruling party after decades of struggle that saw many of its members imprisoned.
But the junta-drafted constitution means the party will have to share power with the army that for years suppressed, often brutally, the Nobel Peace Prize laureate and her allies.
The first sitting of the NLD-dominated parliament is another step in Myanmar's drawn-out transition, which started with the election and will go on until the NLD government officially begins its term in April after parliament has picked a president.
"This is Myanmar's first parliament in years that was chosen by the people," said Pyon Cho, who is now a lawmaker and spent 20 years in jail as a member of the anti-junta group the 88 Generation Students. (Courtesy of Reuters)
The NLD won some 80 percent of elected seats in November's historic vote, catapulting it to power as Myanmar's ruling party after decades of struggle that saw many of its members imprisoned.
But the junta-drafted constitution means the party will have to share power with the army that for years suppressed, often brutally, the Nobel Peace Prize laureate and her allies.
The first sitting of the NLD-dominated parliament is another step in Myanmar's drawn-out transition, which started with the election and will go on until the NLD government officially begins its term in April after parliament has picked a president.
"This is Myanmar's first parliament in years that was chosen by the people," said Pyon Cho, who is now a lawmaker and spent 20 years in jail as a member of the anti-junta group the 88 Generation Students. (Courtesy of Reuters)
A Historic Day in Burma
After more than 50 years of military rule, Burma has sworn in hundreds of lawmakers in the country’s first democratically elected parliament.
The inaugural session on Monday in Nay Pyi Taw, the capital, came three months after the National League for Democracy (NLD), the party of Nobel Laureate Aung San Suu Kyi, won 80 percent of contested seats in the two-house parliament, defeating the junta-backed Union Solidarity and Development Party. The country, also known as Myanmar, has been under army control since 1962.
Old and new lawmakers marked the transition with dance, karaoke, and jokes in the parliament chambers Friday, reported EFE, the Spanish news agency. (Courtesy of The Atlantic)
The inaugural session on Monday in Nay Pyi Taw, the capital, came three months after the National League for Democracy (NLD), the party of Nobel Laureate Aung San Suu Kyi, won 80 percent of contested seats in the two-house parliament, defeating the junta-backed Union Solidarity and Development Party. The country, also known as Myanmar, has been under army control since 1962.
Old and new lawmakers marked the transition with dance, karaoke, and jokes in the parliament chambers Friday, reported EFE, the Spanish news agency. (Courtesy of The Atlantic)
Monday, February 1, 2016
Gold worth over Rs 17 lakh seized from Myanmar national
Customs officials at the city Airport today seized 643 gms of gold valued at Rs 17.42 lakh from a Myanmar national.
Khin Maung Win landed at the NSCBI Airport from Dhaka by a Bangladesh Biman flight, customs officials said. (Courtesy of Business Standard News)
Khin Maung Win landed at the NSCBI Airport from Dhaka by a Bangladesh Biman flight, customs officials said. (Courtesy of Business Standard News)
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