Myanmar Monitor Weekly
National
Fire in Rohingya Camp Leaves 1,700 Homeless in Western Myanmar
A fire in an internally displaced persons camp in western Myanmar’s Rakhine state destroyed more than 400 huts on 3 May and left more than 1,700 ethnic Rohingya homeless, a local police official said. Initial reports indicate that 14 people have been injured with unconfirmed reports that there may be fatalities, according to a statement issued by the United Nations.
Read More >
Politics
Laws Restricting Media to Be Amended: Minister
Myanmar media should look forward to enjoying more freedom as laws enacted under the previous government are repealed, according to Information Minister Pe Myint, who spoke in Yangon on 3 May in commemoration of World Press Freedom Day. The minister said he intended to collaborate with media organizations to decide how to proceed before taking their recommendations to Parliament
Read More >
Business and Investment
Myanmar approves oil refinery project
Myanmar has approved a US$2.6 billion investment by Longwin Global Petrochemical Co Ltd, a joint venture company, to set up a five million MT oil refinery along with related logistics facilities in Tanintharyi region in the south. China’s Guangdong Zehenrong Energy Co Ltd (GDZR), Union of Myanmar Economic Holdings Ltd (UMEHL) and an energy company under the Htoo Group of Companies form part of the consortium.
Read More >
Business and Investment
Singapore bakery heads to Myanmar
The Myanmar real estate giant Shwe Taung Group has signed a deal to set up and run local franchises of Singapore’s BreadTalk chain, marking the group’s first try at the food and beverage business. The agreement marks the international firm’s first foray into the Myanmar market but the bakery has nearly 800 locations in Singapore, Thailand, Indonesia and other countries.
Read More >
Business and Investment
Japan pledges more aid for Myanmar
Japanese Foreign Minister Fumio Kishida vowed to help with the peace process and national reconciliation during a joint press conference with Myanmar State Counsellor Aung San Suu Kyi, who he met for an hour at the Ministry of Foreign Affairs in Naypyidaw on 3 May. The United Nations issued a statement thanking Japan for its US$31.7 million donation to their operations in Myanmar.
Read More >
China-led development bank to visit Myanmar
The president of the Chinese-led Asian Infrastructure Investment Bank (AIIB) plans to visit Myanmar this year to start identifying potential projects, Jin Liqun, president of the AIIB said on the side-lines of the annual Asian Development Bank meeting in Frankfurt. “We will process the projects that are ready and bankable, so countries that have those projects would be the best candidates,” he said, adding that the bank also has a duty to help finance infrastructure in Myanmar as Myanmar is an AIIB member country.
Read More >