Myanmar Monitor

World Bank

Photo Credit: Myanmar Monitor

Economy, Investment and Trade

Deeper port necessary to meet growing trade demands
(19 September 2017) Logistics businesses from European and Japanese chambers have called for Myanmar to build a deep-sea port with access to Yangon, the commercial capital, to cater for significant volume increase in trade to improve its competitiveness. A report by the European Chamber of Commerce in Myanmar (EuroCham) stated that the lack of port infrastructure and congestion present a significant constraint for sea trade, and called for the establishment of a deep-sea port together with a Special Economic Zone (SEZ). However, previous studies concluded that such an undertaking would be difficult, according to Tatsuya Ueki, head of Mitsui OSK Lines and chair of the logistics group under the Japan Chamber of Commerce and Industry in Myanmar (JCCM).
Read More >

New gas turbine power plants to meet energy supply for 2018
(19 September 2017) Three new natural gas-fired power plants in Myanmar are nearing completion. The power plants have the capacity to generate more than 450 megawatts of power, and are expected meet the energy demands of Myanmar for 2018. U Khin Maung Lay, deputy managing director of the Ministry of Electricity and Energy (MOEE) Electric Power Generation Enterprise said that the annual electricity demand in Myanmar is between 300MW and 400MW. The new power plants will also help to relieve the government’s burden from subsidising loss-making electricity tariffs to households nationwide, estimated at US$400 million for the fiscal year of 2017-18.
Read More >

Myanmar government targets US$6 billion foreign investment for 2017-18 fiscal year
(12 September 2017) According to the Myanmar Ministry of National Planning and Finance, the government seeks to attract US$6 billion in foreign direct investment (FDI) for the current 2017-18 fiscal year. Singapore is Myanmar’s largest investor, followed by China, Hong Kong and Thailand, according to Myanmar Investment Commission (MIC) secretary, U Aung Naing Oo. Myanmar’s national planning and finance deputy minister for U Hset Aung reported that Myanmar had a total FDI of US$6.7 billion for the fiscal year 2016-17, exceeding that year’s targeted amount of US$6 billion.
Read More >

Foreign & Internal Affairs

China backs Myanmar amid Rakhine crisis
(13 September 2017) China has voiced its support for Myanmar’s military crackdown that has been criticised by the United States, causing international divisions ahead of a UN Security Council meeting. International pressure on Myanmar has been strong after United Nations rights chief Zeid Ra’ad Al Hussein said the military actions seemed to be a “textbook example of ethnic cleansing”. The Myanmar government denies any abuses, and blames the Arakan Rohingya Salvation Army (ARSA) for burning down thousands of villages. Beijing’s foreign ministry spokesman Geng Shuang voiced support for the Myanmar government’s efforts to “uphold peace and stability” in Rakhine.
Read More >

Visiting US official barred from Rakhine State Conflict Zone
(8 September 2017) Myanmar is looking to fence the remaining 40 miles of the 170-mile border with (16 September 2017) Myanmar state government secretary, U Tin Maung Swe said that visiting US Deputy Assistant Secretary of State for Southeast Asia Patrick Murphy will be barred from the Maungdaw District of the Rakhine State. The area has seen ongoing conflict since 25 August when self-identifying Rohingya insurgents attacked police posts and an army camp, killing a dozen people. Myanmar dismissed claims that it was barring aid workers, but said it was concerned over security.
Read More >

Leave a Reply

Your email address will not be published. Required fields are marked *