Myanmar Monitor

Photo Credit: File Photo

Economy, Investment and Trade

Myanmar’s October PMI rises
(1 November 2017) Myanmar’s Nikkei Purchasing Managers’ Index, or PMI, rose to 51.1 in October compared to 49.4 in September. Sian Jones, Economist at IHS Markit, which compiles the survey, said, “October survey data signalled the first improvement in manufacturing operating conditions since May. The return to growth was supported by strong upturns in output and new orders.”
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Myanmar changes fiscal year
(31 October 2017)Myanmar’s national fiscal year will be changed starting from the 2018-19 financial year. Myanmar President U Htin Kyaw submitted a letter to Parliament late last month urging lawmakers to change the 12-month period beginning on April 1 and ending on March 31 to October 1 through to September 30. Deputy Minister for the Planning and Finance Ministry U Maung Maung Win said the main purpose for the change was to secure maximum consecutive dry months as the monsoon season in Myanmar starts in June and ends in October.
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Rakhine to create economic border zone
(1 November 2017) The Rakhine State government signed memorandum of understanding with a group of companies to develop an economic border zone with Bangladesh. The Kanyin Chaung border economic zone is on the outskirts of Maungdaw Township. The Maungdaw border trade station has been re-opened as the situation in region has stabilised following attacks by rebels in August 2017. The Myanmar Ministry of Commerce reported a US$5.9 million trade volume through the Maungdaw border trade station in the 2016-17 fiscal year.
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Foreign & Internal Affairs

Delays in the Union Peace Conference
(1 November 2017) There is uncertainty in Myanmar over whether national-level dialogues will be held in Rakhine and Shan states. This is likely to impact the third round of the Union Peace Conference (UPC) or 21st Century Panglong planned for the end 2017. The national level dialogues are large scale consultations with the public the results of which are discussed at the UPC. Dr. Salai Lian Hmung Sakhong vice-chairman of nationwide ceasefire agreement (NCA) signatory Chin National Front said national-level political dialogue, the third step in a seven-step political roadmap of the NCA is key to seeking the opinion of the ethnic people concerned.
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International organisation warns against Myanmar sanctions
(30 October 2017) The International Crisis Group (ICG) warned policymakers in Europe that returning to sanctions may not help Myanmar’s people or the Rohingya crisis. It pointed out that sanctions could limit future policy options as well as impact the economy to the detriment of the country’s people. This warning came after the announcement by the European Union that it will suspend invitations to the Commander-in-Chief of the Myanmar armed forces and other senior military officers and review all practical defense cooperation due to the alleged disproportionate use of force against Rohingya Muslims in northern Rakhine State.
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