Burma/Myanmar's relationship with the Global Economy

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Title: Over 30,000 Myanmar migrant workers sent abroad in November
Description: "Myanmar authorities sent 30,841 migrant workers to work in foreign countries in November, according to a release from the Information Ministry on Friday. In November alone, 21,405 workers were sent to Thailand while 8,440 workers to Malaysia and 591 to Japan. Also, 230 workers were sent to South Korea, 83 to Jordan, 61 to Singapore, 24 to the United Arab Emirates (UAE) and seven to Qatar, respectively. During the period, a total of 24,268 local employments were also offered by the Ministry of Labor, Immigration and Population and of them, 23,943 workers engaged in private sector. The ministry has been offering local and foreign employment opportunities to local people through online labor exchange management system, with an aim to promote development of the country and help local people increase their incomes..."
Source/publisher: "Xinhua" (China)
Date of entry/update: 2019-12-14
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Title: China on mind, India set to hand over sub to Myanmar
Description: "In a big boost to bilateral defence cooperation, Myanmar is set to soon commission its first-ever submarine after it is formally handed over by India.The impending transfer of the Russian-origin INS Sindhuvir is part of India’s continuing policy to counter China’s strategic inroads into Myanmar. The 3,000-tonne INS Sindhuvir may be 31 years old but it has undergone regular refits in India and Russiak being undertaken on the diesel-electric boat at Hindustan Shipyard Limited in Visakhapatnam..."
Source/publisher: "The Times of India" (Oslo)
Date of entry/update: 2019-12-09
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Title: Xi's Belt-Road Initiative: Recalibration, Strategic Imperatives
Description: "The second Belt-Road Forum (BRF) was held in Beijing from 25-27 April 2019. The three-day event was organized to promote the ‘Belt-Road Initiative’ (BRI) - President Xi Jinping’s multi-trillion-dollar infrastructure development and investment venture. The Summit was attended by 40 global leaders, including Russian President Vladimir Putin and Pakistan’s Prime Minister Imran Khan, China’s two closest allies. The gathering was larger than the first Summit held in 2017, which had just 29 participants. Among the new entrants were Austria, Portugal, the United Arab Emirates, Singapore and Thailand. Italian Prime Minister Giuseppe Conte became the first G7 leader to join the BRI. India stayed out for the second time on grounds of sovereignty given that the China Pakistan Economic Corridor (CPEC) traverses through Pakistan-occupied Jammu and Kashmir (PoJK). BRI has come under fire due to lack of transparency, weak institutional mechanism, scepticism about Chinese loans leading to debt trap, and poor environmental record. Besides, it is being perceived as an exclusive ‘Chinese Club’. With new deals aggregating US$ 64 billion signed and 283 concrete deliverable outcomes, despite criticism particularly from the US and its allies, the grand plan apparently remains on track and is gaining international traction. With a view to dispel growing concerns, the focus of this second Forum was on projecting BRI as an attractive investment destination. President Xi staunchly defended the Belt-Road, assuring its ‘win-win’ outcome..."
Source/publisher: "Institute for Defence Studies and Analyses (IDSA)" (New Delhi)
Date of entry/update: 2019-12-09
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Title: Xi’s Nepal Visit Reveals a Grander Chinese Himalayan Approach
Description: "Not long ago, Beijing’s perspective towards Nepal was limited to that of a ‘good neighbour’ only.1 Though the presence of about 20,000 Tibetans in Nepal has been an issue of major concern to Beijing, it has carefully managed its relations with Nepal which it sees as a strategic geographic zone in the Himalayan valley. The Chinese outlook seems to be changing fast as evident from the outcomes of President Xi Jinping’s recent visit to Nepal on October 12-13, 2019. With growing emphasis on strengthening bilateral cooperation especially on building sub-regional connectivity,2 Beijing seems to be orchestrating a Himalayan approach in its relations with Kathmandu – revealing a grander Chinese policy in making. On the side-lines of his Nepal visit, President Xi’s article published in Nepali newspapers sketched a bigger Chinese ambition with a view to forge “strategic and long-term” cooperation between the two sides.3 Stressing on a ‘renewed friendship’, Xi’s article was a curtain raiser to the joint statement which outlined resolute Chinese goals to promote “trans-Himalayan multi-dimensional connectivity network” in the region. Such ambitions are not unusual in Chinese strategic calculus — a similar approach could be noticed in China’s interactions with other immediate neighbours such as Pakistan, Bangladesh and Myanmar in particular. What is striking about China’s recent outreach to Nepal is its effort to transform the relationship into a comprehensive partnership, aiming to integrate with its Belt and Road Initiative (BRI) in the Himalayan valley..."
Source/publisher: "Institute for Defence Studies and Analyses (IDSA)" (New Delhi)
Date of entry/update: 2019-12-09
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Title: Chinese Projects Under Belt & Road Initiative in Central Asia, Pakistan, Myanmar Projected to Lose Money: Report
Sub-title: For instance, the Kara-Balta oil refinery -- Kyrgyzstan's largest Chinese investment -- has faced significant problems with overcapacity in the recent years.
Description: "Chinese infrastructure projects under its One Belt One Road (OBOR) initiatives in Central Asia, Pakistan and Myanmar are projected to lose money due to underutilisation and could potentially cause more harm than good, a prominent US think-tank said in a report on Thursday. In its latest report on China, the Centre for Strategic and International Studies (CSIS) said India has expressed significant hesitation toward the Belt and Road Initiative (BRI) of China. Leaders in New Delhi opted out of both the 2017 and 2019 Belt and Road Forums. In addition to being generally skeptical of the BRI, one specific major concern is building of the China Pakistan Economic Corridor (CPEC) through Kashmir, it said. Economic considerations further complicate these concerns, the CSIS said in its report. "BRI infrastructure projects in Central Asia, Pakistan and Myanmar are projected to lose money due to underutilisation and could potentially cause more harm than good, it said. For instance, the Kara-Balta oil refinery -- Kyrgyzstan's largest Chinese investment -- has faced significant problems with overcapacity in the recent years..."
Source/publisher: "News 18" (UK)
Date of entry/update: 2019-12-08
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Title: The reforms behind Myanmar’s climb up the ease of doing business index
Description: "In an endorsement of ongoing efforts to reform the economy, Myanmar has been named one of the top-20 most-improved countries in the World Bank’s 2020 ease of doing business index. The index – part of the “Doing Business 2020” report – lists the economies that have recorded the greatest improvement in their ease of doing business score. The bank identified five recently implemented initiatives that have strengthened the business environment. In terms of regulatory and legal measures, the reforms cited include the City of Yangon’s decision to impose stricter qualification requirements for architects and engineers, along with a new companies law that strengthens minority investor protections and boosts transparency by mandating fuller disclosure of transactions. To streamline bureaucratic processes, the government, via the Directorate of Investment and Company Administration, launched an online company registration platform, simultaneously digitising and merging several previously existing procedures..."
Source/publisher: "The Borneo Post" (Malaysia)
Date of entry/update: 2019-12-08
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Title: Myanmar admits foreign life insurers
Sub-title: AIA, Chubb and others hope for rich pickings in South-East Asia’s most populous mainland country
Description: "Ko phoe thar is a cheery 22-year-old liquor-store clerk from Mandalay, a city in central Myanmar. Death, and other less-certain future misfortunes, are far from his mind. A host of insurance companies newly arrived in the country would like to change that. Last week the finance ministry issued licences to foreign life insurers for the first time. Five—aia, Chubb, Dai-Ichi Life, Manulife and Prudential plc—have been permitted to operate as wholly owned subsidiaries. Others are required to find local partners. Foreign insurers have long licked their lips at the prospect of moving into Myanmar..."
Source/publisher: "The Economist" (London)
Date of entry/update: 2019-12-06
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Title: Expo held to boost Lancang-Mekong sub-regional trade and investment
Description: " The 2019 Lancang-Mekong Cooperation (LMC) Exposition opened Thursday in Kunming, capital of southwest China's Yunnan Province, aiming at boosting sub-regional trade and investment. More than 2,000 merchants from home and abroad are expected to attend the five-day event, which has set up 1,800 booths in five exhibition halls, covering investment and trade, culture and tourism, featured commodities of Lancang-Mekong countries and other areas. The Lancang-Mekong Cooperation Dianchi Forum was held on the same day, focusing on cross-border economic cooperation and the construction of a pilot free trade zone. It also consists of several parallel sessions including the China-Laos and China-Cambodia investment symposiums, according to the organizer. Lu Pengqi, vice chairman of the China Council for the Promotion of International Trade, said such activities will help deepen economic and trade cooperation between Lancang-Mekong countries..."
Source/publisher: "Xinhua" (China)
Date of entry/update: 2019-12-05
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Title: The US-China trade war and Brexit don’t help, but behind sluggish global growth lies political gridlock
Description: "The US economy ended 2018 with a whimper and a 1.1 per cent annual rate of gross domestic product growth, and then started the first quarter of 2019 with a bang – 3.1 per cent growth. The economy has since settled back to 2 per cent or less, where it seems likely to linger unless major shocks occur. The world economy is slowing, too, but fears of an escalation in China-US trade tensions or a very disorderly Brexit have eased. Three cuts in interest rates by the US Federal Reserve, along with large liquidity injections to prevent disorderly short-term money markets, have helped keep the economy turning over, if not humming. Consumers keep spending, but business investment is sluggish. Monetary authorities have eased about as much as they can. Short and long interest rates in the United States are now zero in real terms – adjusted to remove the effects of inflation and reflect real borrowing costs and yield – and negative in nominal terms in much of Europe and Japan. A major question mark is China. It has not resorted to extremely expansionary credit growth or very large government deficits. Its economy is officially growing at about 6 per cent a year, but many outside experts suggest that the actual growth rate is 2 to 3 percentage points lower than that..."
Source/publisher: "South China Morning Post" (Hong Kong)
Date of entry/update: 2019-12-01
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Title: Myanmar opens market to foreign insurers
Description: "British Prudential, Japanese Dai-ichi Life, Hong Kong AIA, US Chubb, and Canadian Manulife have been permitted to issue life insurance policies in Myanmar with their fully-owned subsidiary, more than six months after the five insurers were granted provisional licences. According to Prudential, Myanmar has a fast-growing middle class, as well as an increasingly urbanised and tech-savvy population. The country has around 57 million mobile subscriptions, with a mobile penetration of around 105%. The insurer will attempt to harness its wide-ranging digital capabilities and broad range of offerings in Asia, and implement a digital-led strategy, complemented by face-to-face distribution, to broaden access to life insurance in Myanmar, the insurer said in a statement. The department also granted licences to three life and three non-life joint ventures between foreign and local firms - AYA Myanmar General Insurance and Sompo Japan Nipponkoa Insurance, Grand Guardian General Insurance and Tokio Marine & Nichido Fire Insurance, and IKBZ Insurance and Mitsui Sumitomo Insurance..."
Source/publisher: "International Investment"
Date of entry/update: 2019-11-30
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Title: Assessing the Belt and Road Initiative
Sub-title: We should not play down the geopolitical consequences of the Chinese-led globalization that BRI v.2.0 represents.
Description: "Last week, China hosted the second Belt and Road Forum (BRF) for International Cooperation in Beijing. This was an occasion to take stock, as well as introduce course corrections into the process of unrolling the six-year old Belt and Road Initiative. 37 countries and 29 international organizations participated in the event, with notable presence of Russian President Putin, President Pinera of Chile, President Ueli Maurer of Switzerland, Prime Minister Giuseppe Conte of Italy and Malaysian Prime Minister Mahathir Mohamad. Prominent India’s neighbors who marked their presence over there were President Bindiya Bhandari of Nepal, Prime Minister Imran Khan of Pakistan, State Counsellor Aung San Su-Kyi of Myanmar. The UN Secretary General Antonio Guterres and managing director of the IMF Christine Lagarde also attended the event. The first phase of BRI was an unfolding of China constructing connectivity hardware — railway lines, highways, ports and pipelines. The emphasis now is to improve the software —­ international cooperation, trade agreements, customs and taxation procedures and financial processes, which is to be linked with China’s overall plans for transforming its domestic economy to emphasize “quality construction” based on innovation and science and technology. On the other hand there is a conscious effort to connect it to a new phase of Chinese global policy which seeks to expand China’s geopolitical reach by assisting developing countries to overcome poverty and joblessness..."
Source/publisher: "Observer Research Foundation (ORF)" (India)
Date of entry/update: 2019-11-30
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Title: Cross-border trade registers wobble amid global meltdown
Description: "Thailand's cross-border trade dropped 1.94% year-on-year in the first 10 months of this year, with the strong baht, global economic slowdown, continued trade war and an overall volatile foreign exchange listed as the key threats. On Thursday, the Commerce Ministry's Foreign Trade Department reported the country's overall cross-border trade, including transit trade, amounted to 1.12 trillion baht for the year to October. Transit trade consists of businesses involved in the passage of goods through more than one country. Of the total figures, exports from Thailand accounted for 627 billion baht, down 2.05% from the same period last year, while imports were worth 498 billion, resulting in a trade surplus of 129 billion..."
Source/publisher: "Bangkok Post" (Thailand)
Date of entry/update: 2019-11-30
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Title: Myanmar approves 5 more local, foreign investment enterprises
Description: "Myanmar Investment Commission (MIC) recently approved five more investment enterprises from home and abroad, said a release from the Directorate of Investment and Company Administration (DICA) on Saturday. The local and foreign investment enterprises which will create over 1,001 local employment opportunities were approved at the commission's meeting held on Friday. The permitted enterprises will engage in the country's power, livestock and fishery, and real estate sectors. Meanwhile, Myanmar attracted over 292.1 million U.S. dollars' foreign direct investment in manufacturing, other services and real estate sectors in October, first month of present fiscal year 2019-2020. Regionally, Yangon region attracts 60 percent of both local and foreign investments, followed by Mandalay region with 30 percent and the rest flows into other regions and states..."
Source/publisher: "Xinhua" (China)
Date of entry/update: 2019-11-30
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Title: OUELH expands into Myanmar healthcare with US$19.5m acquisition
Description: "OUE Lippo Healthcare (OUELH) is venturing into Myanmar with stake acquisitions in two joint venture companies that own three hospitals, one medical centre and two clinics. This will give the company presence in the key cities of Yangon, Mandalay and Taunggyi, the subsidiary company of OUE Limited said on Thursday. OUELH’s wholly owned units have signed a sale and purchase agreement with Waluya Graha Loka to acquire a 40 per cent stake in Yoma Siloam Hospital Pun Hlaing Limited (YSHPH), and a 35 per cent stake in Pun Hlaing International Hospital Limited (PHIH), for US$19.5 million in all. The vendor is considered an associate of Stephen Riady, the non-independent, non-executive director of OUE Lippo Healthcare. It is also an indirect wholly owned subsidiary of property company Lippo Karawaci. Both YSHPH and PHIH are joint venture companies with First Myanmar Investment (FMI), which is part of the enlarged Yoma Group that also comprises SGX-listed Yoma Strategic. FMI, which has businesses in real estate, health care, financial services, and tourism, is also the first company listed on the Yangon Stock Exchange..."
Source/publisher: "The Business Times" (Singapore)
Date of entry/update: 2019-11-30
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Title: Does China Want to Take Over the World? Part Two: The Belt and Road Initiative
Description: "There are three major components to China’s global ambitions: The Belt and Road Initiative, 5G, and the South China Sea. Simone Gao: I mean in the history of the world, very few power or no power has been able to dominate both land and sea, you know, at the same time. But China, through belt and road initiative is trying to do that. John Sitilides: One of the benefits of having a command economy is you can plan out what your objectives are and then order your corporations, your banks, your lending institutions, your industrial leaders to undertake the policies you need to achieve the goals under a command economy. Huawei has secured 5G contracts with over 60 countries around the world, many of which are U.S. allies, despite American warnings over cybersecurity concerns. John Sitilides: China probably has its single most effective lobbying operation in Brussels, than anywhere else in the world. Simone Gao: What do you think China’s final goal is in the South China sea and what is America’s plan on China?..."
Source/publisher: "The Epoch Times" (New York)
Date of entry/update: 2019-11-29
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Title: Myanmar tycoon open to foreign investment in wake of Ayala deal
Description: "Myanmar tycoon Win Aung is open to foreign investment in the listed industrial-estate provider he oversees, following Ayala Corp's tie-up with a firm traded on the nation's fledgling stock exchange. In an interview in Yangon, Win Aung said a stake sale is an option as he plans to expand Myanmar Thilawa SEZ Holdings, which operates a manufacturing zone where 109 firms have opened factories or plan to do so. "We'll need more capital and technology," Win Aung, the firm's chairman, said on Thursday (Nov 28). "Detailed plans will be revealed later after the authorities officially allow foreigner participation on the Yangon Stock Exchange." Myanmar is trying to expand a stunted bourse that currently has just five stocks by allowing overseas purchases of domestic equities from 2020. The Philippines' oldest conglomerate Ayala is investing in one of those five - First Myanmar Investment - via an US$82.5 million convertible loan that will become a 20 per cent shareholding when rules permit. The four-year-old Thilawa special economic zone is viewed by some as the largest in Myanmar. Japanese, Thai and Malaysian firms account for the bulk of the factories located there, according to Win Aung..."
Source/publisher: "The Straits Times" (Singapore)
Date of entry/update: 2019-11-29
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Title: India-Myanmar-Thailand connectivity will boost development in Southeast Asian region, says PM Modi in Thailand
Description: "Prime Minister Narendra Modi Saturday said that the India-Myanmar-Thailand connectivity will boost development in the entire Southeast Asian region. Addressing the Indian diaspora at 'Sawasdee PM Modi' event in Bangkok, Thailand, the prime minister said that his government wants to bring both nations closer by transforming India's northeast region into a gateway to Southeast Asia. "Once the India-Myanmar-Thailand trilateral highway is opened, there will be seamless connectivity between both our countries. I am glad that all of you will have a chance to be part of this story," he said at the event held to interact with Indian diaspora.ASEAN leaders meet under US-China trade war tensions "India and Thailand are connected through emotions," quoted PM Modi at the Nimibutr Stadium in Bangkok, who is on an official trip to Thailand to attend the 16th ASEAN-India summit on Sunday. "History has united us and has developed our relations," he added..."
Source/publisher: "Business Today" (India)
Date of entry/update: 2019-11-28
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Title: Investing in Myanmar? Do due diligence
Sub-title: The Tatmadaw has a long reach into commercial interests. Companies accountable to a growing range of stakeholders need to assess their exposure to the military.
Description: "RISK and opportunity have always accompanied investors in Myanmar. The recent initiatives by both the United Nations (UN) and the US to ensure that foreign direct investment (FDI) only enriches civilian enterprises and not Myanmar's powerful military-backed entities make it imperative for foreign investors keen on operating in Myanmar to be very sure about the background and military links of their partners. In August this year, the UN's Independent International Fact Finding Mission on Myanmar released an 111-page report outlining how companies affiliated with the Tatmadaw (Myanmar's armed forces) have supported "extensive and systematic human-rights violations against civilians in the Kachin, Shan and Rakhine states." The UN report urged companies to stop doing business with firms linked to the military, in particular the Myanmar Economic Corporation (MEC) and the Union of Myanmar Economic Holdings Ltd (UMEHL). Primarily owned by the Ministry of Defence, MEC and UMEHL between them control businesses that range from golf resorts and sugar mills to telecommunications, breweries and gemstones..."
Source/publisher: "Business Times" (Singapore)
Date of entry/update: 2019-11-28
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Title: Multinationals pry open Myanmar’s insurance market
Sub-title: UK Prudential, US Chubb, AIA and others granted licenses to tap previously state monopolized sector
Description: "Myanmar has injected new life into its laggard insurance industry with today’s (November 28) issuance of licenses to a handful of foreign companies, including UK Prudential, Japan’s Dai-ichi Life, Hong Kong’s AIA, US Chubb and Canadian Manulife. The Ministry of Finance authorized the widely anticipated but long delayed move to allow foreign insurers to operate in the local market as 100% wholly owned subsidiaries. It also provided for local-foreign joint ventures, with six life and non-life insurance licenses approved for Japan’s Mitsui Sumitomo Insurance, Taiyo Life and Nippon Life. The announcement marks a significant step towards financial sector liberalization, allowing foreigners access to one of the last largely untapped insurance markets in the world. The move follows on other market-opening measures granted to the education, retail and wholesale sectors under the current administration..."
Source/publisher: "Asia Times" (Hong Kong)
Date of entry/update: 2019-11-28
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Title: China's Belt and Road Initiative: Where it goes and what it's supposed to accomplish
Sub-title: Economic powerhouse is investing billions of dollars in infrastructure projects around the world
Description: "This story is part of a CBC News series exploring China's expanding influence around the world and how Canada and other countries are contending with China's growing power. Back in 2013, when the U.S. and many other countries were still recovering from the Great Recession, Chinese President Xi Jinping announced perhaps the most transparently ambitious foreign policy of the new century: the Belt and Road Initiative. The name is a nod to the Silk Road, the ancient network of trade routes that connected China with the Roman Empire and many societies in between. The modern version envisioned by Xi goes even further. China is financing hundreds of billions of dollars' worth of infrastructure projects — including ports, roads, bridges, railways, power plants, telecommunications networks and much more — in partnering countries throughout Asia, Africa, Europe and beyond. The purpose, China says, is to accelerate and enhance development and trade in order to create new markets and opportunities for China and its partners..."
Source/publisher: "CBC news" (Toronto)
Date of entry/update: 2019-11-27
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Title: Myanmar earns over 2 bln USD from export in FY 2019-20
Description: "Myanmar earned over 2.28 billion U.S. dollars from export to foreign countries as of Nov. 15 in fiscal year (FY) 2019-2020 which started in October, according to figures from the Commerce Ministry on Wednesday. Myanmar mainly exports agricultural products, animal products, marine products, minerals, forest products, manufacturing goods and others to foreign trade partner countries. From Oct. 1 to Nov. 15, manufacturing goods were mainly exported, earning 1.12 billion U.S. dollars' capital, following by minerals with 526.8 million U.S. dollars. This FY's total export increased by over 568.9 million U.S. dollars, compared to the same period of last FY 2018-2019 when it was 1.7 billion U.S. dollars. Meanwhile, the country's total foreign trade reached over 4.59 billion U.S. dollars as of Nov. 15 this FY, with 2.3 billion U.S. dollars' import value..."
Source/publisher: "Xinhua" (China)
Date of entry/update: 2019-11-27
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Title: Myanmar holds investment forum in northern state
Description: "Myanmar held an investment forum in Taunggyi, northern Shan state Tuesday to promote investment in tourism and agriculture in the state, according to the Ministry of Investment and Foreign Economic Relations Wednesday. The event was organized by the ministry, Myanmar Investment Commission (MIC) and Shan State Investment Committee. A total of 92 foreign investors joined the forum. Myanmar Minister of Investment and Foreign Economic Relations and Chairman of the MIC U Thaung Tun highlighted at the forum that Myanmar, as an agro-based country, considered agriculture sector to be important to achieve sustainable development, stressing that agriculture growth was critical for inclusive development and for food security. He called for raising agricultural productivity to ensure national growth, believing that the forum would enable many agro-businesses to thrive an flourish in Shan state..."
Source/publisher: "Xinhua" (China)
Date of entry/update: 2019-11-27
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Title: China Focus: China, ASEAN embrace shared future along Belt and Road
Description: "The Belt and Road Initiative (BRI) provides momentum for regional economic integration and connectivity, helping China and ASEAN forge a closer community of shared future, said Cambodian Deputy Prime Minister Hor Nam Hong. Hor made the remarks Saturday at the opening ceremony of the 16th China-ASEAN Expo themed "Building the Belt & Road, Realizing Our Vision for a Community of Shared Future." The deputy vice prime minister envisioned that the China-ASEAN strategic partnership and the BRI will further deepen the cooperation between the two sides in the joint pursuit of shared prosperity. Statistics show that China has signed cooperation agreements with more than 130 countries across the globe and 30 international organizations on jointly building the Belt and Road, benefiting people of the involved nations. Highlighting regional economic cooperation, this year's China-ASEAN expo is expected to lift the practical and comprehensive cooperation between China, ASEAN and other countries participating in the BRI to new heights..."
Source/publisher: "Xinhua" (China)
Date of entry/update: 2019-11-26
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Title: Elections obscure Myanmar’s economic outlook
Summary: "Myanmar-based executives and investors are bracing for a business slowdown in the run-up to next year’s general elections, as uncertainty rises over the Southeast Asian nation’s political and policy...
Sub-title: Businesses are bracing for a slowdown and possibly worse ahead of risk-laden 2020 polls
Description: "Myanmar-based executives and investors are bracing for a business slowdown in the run-up to next year’s general elections, as uncertainty rises over the Southeast Asian nation’s political and policy directions. The election, tentatively scheduled for November 2020, will essentially pit de facto national leader Aung San Suu Kyi’s National League for Democracy (NLD) against the military-aligned Union Solidarity and Development Party (USDP), the country’s two major political parties. The NLD romped to victory in 2015 in the nation’s first competitive election in 25 years, a shift from quasi-military to quasi-democratic rule that many then hoped would fuel a foreign investment-led economic boom. But Suu Kyi’s ability and willingness to orchestrate that boom has been constrained by a power-sharing arrangement with the autonomous military, which controls the crucial defense, home affairs and border affairs ministries, as well as her singular focus on flagging peace process..."
Source/publisher: "Asia Times" (Hong Kong)
Date of entry/update: 2019-11-26
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Title: S. Korea, 5 ASEAN members sign MOU on development assistance
Description: "South Korea and five member states of the Association of Southeast Asian Nations (ASEAN) signed a memorandum of understanding (MOU) on Monday on boosting development cooperation in education, smart cities and other fields, Seoul's aid agency said. The MOU, signed with Cambodia, Laos, Myanmar, the Philippines and Vietnam, aims to expand official development assistance (ODA) in the five countries under five flagship programs designed by the Korea International Cooperation Agency (KOICA), KOICA said in a release. The signing took place on the margins of the special summit between leaders of South Korea and ASEAN partners being held in Busan to commemorate the 30th anniversary of their dialogue relations. The programs focus on forging digital partnerships for inclusive development, providing assistance for higher education and establishing smart cities and transportation, the aid agency said. The programs are designed based on the New Southern Policy, a key policy initiative pushed for by the Moon Jae-in government that seeks to deepen economic and other ties with ASEAN members and India..."
Source/publisher: "The Korea Times" (South Korea)
Date of entry/update: 2019-11-25
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Title: ASEAN and China struggle to buckle the belt and road
Description: "China’s ambitious Belt and Road Initiative (BRI) continues to draw criticism and disapproval. Its sceptics brand it as China’s Marshall Plan or as a ‘neo-imperial project’. To ensure the initiative’s success, China should heed some of these concerns and take steps to improve the implementation of BRI-related projects. Doing so is particularly important in ASEAN — a region that stands to greatly benefit from BRI investment, if done right. ASEAN is the world’s sixth-largest economy with a total GDP of more than US$2.5 trillion. Economies across the region are growing steadily at an average annual rate of around 5 per cent. Sustaining this growth requires the region to meet its growing infrastructure needs, which are estimated to amount to US$2.8 trillion from 2016 to 2030. China’s BRI is important for ASEAN because it can help to fund and meet the region’s infrastructure needs. It also supports the success of the ASEAN Community Vision 2025 and Master Plan on ASEAN Connectivity 2025 initiatives. A major BRI–ASEAN project is the Pan-Asia Railway Network designed to connect China with Southeast Asia. Its three main railway routes — the eastern, central and western routes — all begin in Kunming, China. The eastern route has a total estimated cost of US$600 million and will pass through Vietnam and Cambodia into Thailand. The central route will pass through Laos, Thailand and Malaysia into Singapore. As a high-speed railway project, it is the most expensive route with an estimated cost of more than US$33 billion. The western route will pass through Myanmar into Thailand and is estimated to cost US$2 billion..."
Source/publisher: "East Asia Forum" (Australia)
Date of entry/update: 2019-11-23
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Title: China’s international partnerships: Beyond One Belt, One Road
Description: "China’s power in the Asia-Pacific is growing according to assessments of military strength. Independent analysts predict that the country is already close to becoming an Asian superpower on par with the United States. A new wave of involvement in overseas port acquisition and construction has pointed to the possibility of basing rights and power projection as far as Africa. These more recent developments raise crucial questions: has China’s security concept already reached a post-Asia-Pacific stage? If so, what are the consequences for other regions where Beijing’s overseas ambitions come up against preexisting regional balance-of-power dynamics and security frameworks? This article looks at how and why China’s strategic vision has shifted westward, and how traditional security and risk management concerns are driving efforts to link continental states beyond the immediate periphery – focusing first on Bangladesh – with an existing cluster of interests and influence in Southeast Asia..."
Source/publisher: "Global Risk Insights" (Canada)
Date of entry/update: 2019-11-23
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Title: BBL thriving after Asean pivot
Description: "Despite fading foreign direct investment in China amid the Sino-US trade war, Bangkok Bank (BBL) says its international banking business is thriving from a shift towards Asean. The bank's international banking business, covering nine of the 10 Asean nations, shows positive signs, mainly due to higher investment in Asean from regional business operators and foreigners, said a source familiar with the issue. Large Thai and regional investors have shifted investment away from China and towards Asean, driven by trade tensions, and the fast-growing economies of the bloc are providing greater business opportunities, the source said. The mainland's intense competition in all areas, including funding, market, technology and people, is compelling Thai business operators to shun China and shift to regional markets..."
Source/publisher: "Bangkok Post" (Thailand)
Date of entry/update: 2019-11-22
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Title: China’s Belt and Road Gets a Reboot to Boost Its Image
Description: "Sign up for Next China, a weekly email on where the nation stands now and where it’s going next. By many measures, China’s Belt and Road Initiative has been a monumental success. Since 2013, when China launched the effort to expand trade links, more than 130 countries have signed deals or expressed interest. The World Bank estimates some $575 billion worth of energy plants, railways, roads, ports and other projects have been built or are in the works. But President Xi Jinping’s signature effort has also come in for criticism, including accusations that China is luring poor countries into debt traps for its own political and strategic gain. The mixed reviews abroad and worries at home about the cost have led China into something of a reboot as it tries to increase transparency, improve project quality and reduce financial risks..."
Source/publisher: "Bloomberg News" (USA) via Washington Post" (USA)
Date of entry/update: 2019-11-22
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Title: Trade War Incentive Schemes in ASEAN
Summary: "ASEAN members have issued a variety of incentives to attract investors affected by the US-China trade war. These incentives come in the form of tax breaks as well as initiatives to improve the...
Description: "ASEAN members have issued a variety of incentives to attract investors affected by the US-China trade war. These incentives come in the form of tax breaks as well as initiatives to improve the investment climate. Investors should seek the help of registered advisors to better understand which incentives are beneficial for their business. Governments across ASEAN have been unveiling an array of incentive packages to entice businesses affected by the US-China trade war. Countries such as Thailand, the Philippines, Malaysia, and Indonesia have introduced tax breaks and initiatives to improve the ease of doing business whereas Vietnam, Singapore, and Cambodia have accelerated business reforms, such as executing free trade agreements (FTAs), and double taxation agreements (DTAs). We consolidate and briefly discusses the development of each country’s incentives over the past year. The developments showcase how ASEAN members are distinguishing themselves from the fellow competition and what opportunities are available for investors looking elsewhere in Asia..."
Source/publisher: "ASEAN Briefing"
Date of entry/update: 2019-11-22
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Title: The ASEAN-Hong Kong China Free Trade Agreement and Vietnam
Description: "The ASEAN-Hong Kong, China Free Trade Agreement (AHKFTA) came into effect on June 11 for Vietnam, Laos, Myanmar, Singapore, and Thailand. The remaining ASEAN member states will complete the ratification process later this year. The deal was first signed and agreed in November 2017 to increase economic cooperation, reduce taxes, and increase investment between regional markets and Hong Kong. Analysts have noted that with ongoing trade tensions, Hong Kong businesses are keen to expand investment opportunities in Southeast Asia, and particularly in Vietnam. At the end of 2018, Hong Kong businesses had invested more than 1,300 projects in Vietnam on key sectors such as textiles and garments, real estate and investments. Many expect these numbers to improve following the AHKFTA. Vietnam and Hong Kong trade Vietnam is Hong Kong’s third largest trade partner and biggest export market in ASEAN. In the first five months of this year, Hong Kong accounted for 30.4 percent of total FDI investment in Vietnam, equaling US $5.08 billion. Hong Kong’s importance as an entrepôt for trade between mainland China and Vietnam will continue to grow at a much faster pace with the FTA coming into force. Re-exports of goods of ASEAN origin through Hong Kong to China have been growing at an annual average rate of 6.4 percent since 2012..."
Source/publisher: "Vietnam Briefing" (Vietnam)
Date of entry/update: 2019-11-21
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Title: Australia-US Relations: Focussed on Balancing China?
Description: "At the annual Australia-US Ministerial meeting (AUSMIN) 2019, US Secretary of Defence, Mike Esper and US Secretary of State, Mike Pompeo, presented a proposal to use Australia as part of the US’ Asia-Pacific regional defence network against Chinese expansionism. Mike Esper stated that ‘the US would like to place either long-range or cruise missiles’ in Australia. Despite ruling out this notion, Australia’s defence minister, Linda Reynolds, did not completely preclude the deployment of US military hardware, adding, ’The presence of the US and its military forces in this region has been a force for stability for decades, and Australia has consistently welcomed that force and presence.’ Although China remains Australia’s biggest trading partner, the South China Sea issue, along with Beijing’s push for aggressive economic development and acquisition of strategic maritime assets in Southeast Asian countries, have raised concerns about its intentions. Furthermore, the Darwin port acquisition by Chinese SOE, Landbridge Group, back in 2015, fuelled further concerns for the security of both Australian and US naval assets. The US request to use Australian territory as part of its defence network is a response to Beijing’s use of economic development as a weapon to undermine US influence in both South-East Asia (SEA) and the Pacific. In recent years, China has increased its diplomatic efforts in the Pacific Island states by using foreign direct investment (FDI) as a means of winning favours from their governments. Building opulent Chinese-owned casinos in the Northern Marianas is an example of this strategy. China favours the use of casinos to attract Chinese tourists to the islands as a means of boosting the domestic economy. In practice, this often backfires on the island economy and, instead, damages local businesses, which increases dependence on Beijing..."
Source/publisher: "Future Directions International"
Date of entry/update: 2019-11-21
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Title: Bangladesh-China Silk Road Forum launched in Bangladesh
Description: "Bangladesh and China have launched a new platform, the Bangladesh-China Silk Road Forum, in Bangladeshi capital Dhaka, focusing on lasting links under the Belt and Road Initiative (BRI) between the two countries for mutual benefit. The event was attended by political leadership, high-ranking officials from the private and public sector, community representatives and the members of the business sector and media. Bangladesh prime minister's foreign affairs adviser Gowher Rizvi and Chinese Ambassador to Bangladesh Zhang Zuo among others, spoke at the launching ceremony Saturday. "I want truly to felicitate the launch of Bangladesh-China Silk Road Forum," said Rizvi. "Congratulate and thank you for initiative to establish the forum." "The BRI is not only one of the important initiatives of our time but it is also very needful in fixing our (Bangladesh development) priorities," he said. According to the advisor, Bangladeshi Prime Minister Sheikh Hasina in the last 10 years has been emphasizing the importance of connectivity. She sees connectivity as mechanisms or tools through which Bangladesh's prosperity and stability can be rebuilt, he added..."
Source/publisher: "Global Times" (China) via "Mizzima" (Myanmar)
Date of entry/update: 2019-11-21
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Title: Belt and Road Initiative: Challenging South and Southeast Asia
Description: "The euphoria about the Belt and Road Initiative (BRI) in Indonesia and elsewhere in South and Southeast Asia (SEA) has been felt since 2017, particularly following the country’s participation in the BRI Summit in Beijing that year, where Indonesia (along with other SAARC and ASEAN member states) was expected to receive massive investments from China to support several infrastructure projects. This year, the debates concerning the BRI are again becoming prevalent after Indonesia’s Coordinating Minister for Maritime Affairs Luhut Binsar Panjaitan as Indonesia’s representative signed 28 BRI projects last April. Among the various debated subjects is the growing concern about the real nature of the BRI. Is that a Chinese developmental initiative or a geopolitical instrument that uses debt-trap as a tool to bring targeted countries into the desired terms..."
Source/publisher: "Modern Diplomacy"
Date of entry/update: 2019-11-21
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Title: Developing Global Free Trade: China and the Southern African Customs Union
Description: "Chinese President Xi Jinping has just returned from Brazil where he attended the annual meeting of the BRICS nations in Brasilia. With the Presidents and Prime Ministers from India, Russia, and South Africa also all attending, the Brasilia Summit’s Declaration stated that the BRICS bloc had expressed common goals of “expanding trade and innovation”. There are significant global trade issues to examine here: most notably exactly how such trade can be increased. At present, the BRICS countries represent over 3.1 billion people, or about 41 percent of the world population. As of 2018, these five nations have a combined nominal GDP of US$18.6 trillion, about 23.2 percent of the global total, a combined GDP (PPP) of around US$40.55 trillion (32 percent of world’s GDP PPP) and an estimated US$4.46 trillion in combined foreign reserves. The IMF has projected that the BRICS nations will account for over 50 percent of global GDP by 2030. Achieving that growth will require some planning and innovation on the part of the countries concerned. This can be reasonably expected to include advancing free trade agreements. To this end: China is a lead player in the Belt and Road Initiative, Brazil with its influence and membership in Mercosur is a leader in the South American region, Russia has a similar role in the development of the Eurasian Economic Union, India has a prominent role within the South Asia Free Trade Area (SAFTA), while South Africa is a major strategic partner in the Southern African Customs Union (SACU)..."
Source/publisher: "China Briefing" (China)
Date of entry/update: 2019-11-21
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Title: China-made cancer drug approved for US market
Description: "A Chinese pharmaceutical firm has won market approval from the United States Food and Drug Administration for a self-developed lymphoma drug, marking the first entry of an innovative cancer drug from a Chinese company into the US and giving a boost to domestic drugmakers’ ambitions to create new treatments for patients around the world. The drug, known as Brukinsa, is a product from Beijing-based BeiGene. It received the FDA’s approval on Friday and will probably become available to US patients by the end of the year, Wu Xiaobin, BeiGene president, said at a news conference on Friday. The application was accepted by the FDA in August, and approval came sooner than originally expected. In January, the drug was granted Breakthrough Therapy designation, an official status that speeds up review processes for drugs that may demonstrate substantial advantages over existing therapies, according to the FDA. It was also the first time that such a beneficial policy was granted to a Chinese company, according to BeiGene..."
Source/publisher: "Eleven Media Group" (Myanmar)
Date of entry/update: 2019-11-20
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Title: US official tells Asean claimant countries: assert rights vs China
Description: "US Secretary of Defense Mark Esper has urged all South China Sea claimant countries, including the Philippines, to take a “very public posture” and assert their sovereign rights against China’s aggressive moves in the disputed waters. Esper also said the United States was open to revisiting and strengthening its Mutual Defense Treaty (MDT) with the Philippines “based on changes in the environment and world situation.” Ambiguities At a press conference with Esper on Tuesday, Defense Secretary Delfin Lorenzana said he initially introduced the idea of revisiting the MDT which was signed by the two countries in 1951. Lorenzana cited the ambiguities in the treaty, including a provision that indicates that an attack on “Metropolitan Philippines” would automatically trigger a military response from the United States. Esper meanwhile reiterated the US commitment to the MDT which covers the entire Pacific region, including the South China Sea..."
Source/publisher: "Eleven Media Group" (Myanmar)
Date of entry/update: 2019-11-20
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Title: ASEAN distances itself from the United States
Description: "Tensions between the United States and China entered a dangerous new phase this week. For the first time in 25 years, US authorities labelled China a currency manipulator after the RMB fell below the 7 yuan-per-dollar level. This opens the door to the United States’ levelling sanctions against China as well even more extreme trade restrictions, as the global trade and technology war morphs into a currency war. The actions of the United States were arbitrary, to say the least, and have rocked global financial markets. The recent ‘ASEAN Outlook on the Indo-Pacific’ shows that ASEAN countries are more and more wary of the approach being taken by the United States in the region. They are right to be worried. Labelling China a currency manipulator made little sense, both economically and institutionally. Economically, a weakening RMB is to be expected in the current economic circumstances. The Chinese economy has been slowing while the United States continues its longest economic boom in history. Chinese exports to the United States have been under increasing strain while escalating global risks have seen increased demand for safe haven US financial assets. All of these variables point to a weakening RMB against the US dollar. ‘They are not driving the currency down’ notes Marc Chandler, Chief market strategist at Bannockburn Global Forex, ‘but just accepting market forces’. Within a narrow band the Chinese monetary authorities let the currency settle where the market took it..."
Source/publisher: "East Asia Forum" (Australia)
Date of entry/update: 2019-11-19
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Title: China steals a Nepalese march on India
Sub-title: Xi Jinping’s first ever visit to Nepal underscored Himalayan nation’s shift towards Beijing and away from Delhi
Description: "While Chinese President Xi Jinping’s recent unofficial summit with Indian Prime Minister Narendra Modi made global headlines, the two rival nations’ subsequent moves were arguably more telling of their strategic intent. Asia’s most populous nations are locked in an intensifying competition for South Asian influence, one where China is increasingly stealing a march in a region India has long considered its sphere of influence. Underscoring the point, a Xinhua report quoted Xi as saying that the “dragon and elephant dance is the only correct choice for China and India” and that differences should be handled in a “correct way.” Sun Shihai, a Chinese India expert, was quoted in regional media as saying that “despite the leadership summits, there’s still deep-rooted suspicion and antagonism between the two countries.” Core to that antagonism is a still festering border dispute in the Himalayan Doklam region, where the two sides engaged in a weeks-long standoff in 2017, and the long-time presence of Tibet’s exiled spiritual leader Dalai Lama in India..."
Source/publisher: "Asia Times" (Hong Kong)
Date of entry/update: 2019-11-19
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Title: China winning new Cold War on the Mekong
Sub-title: Beijing has leveraged its Belt and Road Initiative to gain the upper hand on the Mekong River while the US and Japan’s competing initiatives wash away
Description: "When the state tabloid China Daily ran a paid advertisement in the New York Times extolling the virtues of Beijing’s proliferating dams in Laos, the piece sparked a new cold war controversy. Entitled “Employment on hydroelectric project in Laos delivers better lives”, the piece stated that a proposed cascade of dams on the Nam Ou River will enable well-paid local workers to buy pickup trucks and provide the poor country with badly needed electricity. The paid placement also noted the Nam Ou cascade “is a key part of the China-led Belt and Road Initiative and is the first project undertaken by a Chinese-invested company to cover an entire river.” With its rising regional clout and massive state resources, China has recently gained a clear upper hand vis-à-vis the United States and Japan in determining the crucial waterway’s future development and direction. It’s an economics-over-environment vision that downstream nations have often opposed but without recourse or resources to fight back there is little they can do as US and Japan-backed counter-initiatives for the river wash away into irrelevance..."
Source/publisher: "Asia Times" (Hong Kong)
Date of entry/update: 2019-11-19
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Title: China-Laos friendship ‘blossoming’
Sub-title: Chinese built high-speed railway expected to transform southern neighbor and boost economy
Description: "The friendship between China and Laos is blossoming, according to an editorial in the Vientiane Times and quoted by Xinhua on April 22. Laos is a partner in China’s Belt and Road Initiative and the most significant project in that relationship is the construction of a high-speed railroad from the Chinese border to the Laotian capital Vientiane. According to Xinhua, Laotian President Bounnhang Vorachit recently visited one of the many construction sites and described the railroad as a critical project that would transform Laos from being a landlocked country into a “land-linked” one. The railroad will “boost economic growth,” the report said, and recognize business opportunities in Laos. “Several Chinese banks have expanded their operations here in Laos.” The number of Chinese tourists in Laos is also increasing and has become a vital source of income for Laos. The country expects to receive more than a million Chinese visitors this year..."
Source/publisher: "Asia Times" (Hong Kong)
Date of entry/update: 2019-11-19
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Title: China’s anniversary not cause for all to celebrate
Sub-title: US, EU and Japan are all mounting economic, financial and strategic counters to China’s peaceful rise narrative
Description: "Days before China started to celebrate the 70th anniversary of its people’s republic, communist leaders issued a policy declaration entitled “China and the World in the New Era” which hailed “a development path with Chinese characteristics.” Reporting on the document’s release on September 27, the state-run Global Times newspaper opined that “China has grown into a giant” that has taken aim at “Western logic – that a country is destined to seek hegemony after becoming strong.” That, according to the Global Times, “does not apply to China” and its strictly peaceful, not confrontational, rise. China is only interested in global development and “win-win cooperation”, the paper asserted. While no one would dispute that China’s people’s republic has emerged into an economic and political superpower on its 70th anniversary, the paper’s other conclusions are not generally shared by rival powers..."
Source/publisher: "Asia Times" (Hong Kong)
Date of entry/update: 2019-11-19
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Title: Controversial security firm moving into Myanmar
Sub-title: Blackwater founder Eric Prince’s Frontier Service Group continues to expand in Asia
Description: "The Frontier Service Group (FSG), founded by former US military contractor Eric Prince, is moving into Myanmar to provide security services for Chinese and other foreign investors, the Myanmar Times reported on March 19. FSG, a Hong Kong-registered company, has established a joint-venture security company in Myanmar called FSG (Myanmar) Security Services Co Ltd and is advertising for 30 security personnel in Myanmar. According to the Myanmar Times, the company profile lists Daw Sandar Win (Myanmar), Zhang Huagang (China), Tan Qing (China) and U Si Thu (Myanmar) as directors. Prince is also the founder of the defunct military contract company Blackwater, which, the Myanmar Times says, “was condemned internationally after its employees allegedly opened fire on a Baghdad street in 2007, killing at least 14 civilians.” The Myanmar Times quoted Doi Ra, a local Kachin NGO worker, as saying that “we need to know the details of FSG’s operations in Myanmar … the current information is almost non-existent.” Doi Ra said civil society organizations were concerned that the company would be used to provide security for large-scale infrastructure projects such as the controversial Myitsone hydro-electric dam project in northern Myanmar..."
Source/publisher: "Asia Times" (Hong Kong)
Date of entry/update: 2019-11-19
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Title: How Chinese enterprise can overcome barriers to ODI
Description: "Chinese enterprises are frequently encountering obstacles as they invest in overseas markets. Foreign direct investment activities are often politicised because they can impact the domestic politics of host countries. Overseas direct investment (ODI) can bring new rules and practices for corporate operation, which can trigger political debates regarding standards of ‘market behaviour’ in host countries. The most direct effect of ODI is changing the income distribution of social groups in the host country. Those with positive views of ODI believe it can significantly increase the demand for labour in the host country and contribute to an improvement in labour conditions. But local owners of capital are likely to encounter rising costs and intensified market competition. Those with a negative view of ODI believe that it can widen labour income gaps and worsen conditions for low-income groups. A pro-labour government may encourage ODI inflows that contribute to improvements in workers’ wellbeing, while a pro-capital government may encourage ODI inflows that will lower labour costs. For these reasons, the type of political obstacles that investors encounter are closely related to issues of redistribution in the host country. Employment security is the biggest political appeal of ODI. ODI enterprises generally have a competitive advantage and offer higher wages and more stable jobs. But ODI inflows may have a negative effect on the employment of low-skilled workers in the recipient industry..."
Source/publisher: "East Asia Forum" (Australia)
Date of entry/update: 2019-11-19
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Title: How the US is losing hearts and minds in Southeast Asia to China
Description: "The 35th Asean Summit has come and gone, and the United States has again lost ground in its struggle with China for the hearts and minds of Southeast Asia. Over the last few years, the decline in US soft power in the region has accelerated, after its withdrawal from the Trans-Pacific Partnership and President Donald Trump’s “America First” policy, which neglects the region’s strategic interests while economically punishing and alienating potential supporters. US soft power has been declining for years, absolutely and relative to China’s influence. In the run-up to the 2017 Asean summit, both the US and China lobbied heavily for their preferences. China wanted no reference to its claims and activities in the South China Sea and the 2016 arbitration ruling against it. It also refused to support any reference to the need for a “legally binding” code of conduct between China and Asean..."
Source/publisher: "South China Morning Post" (Hong Kong)
Date of entry/update: 2019-11-19
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Title: The pains of a prolonged US–China trade war
Description: "Reality once again demonstrates that in a trade war surplus countries like China hold a disadvantage against those with deficits such as the United States. But with little to show for its efforts, it is not in the best interests of the United States to fight with China. The best option for both sides is to reach an agreement. US President Donald Trump’s trade war has not achieved its original objectives. First, the US total current account deficits will remain massive this year. The politically sensitive goods trade deficit with China in the first half of 2019 registered US$167 billion. Second, the trade war has failed to impede China’s technological enhancement. Despite the Chinese government and media renouncing the slogan ‘Made in China 2025’, China continued boosting investment and innovation in the strategic industries listed under the initiative. Geo-economic factors are also intensifying downside risks to the US macroeconomic outlook, as shown by the recent economic indicators. But China still has more palpable losses. US tariffs have slowed China’s GDP by an estimated 0.6 per cent. The trade war also affects GDP through indirect channels. It has driven dozens of firms to shift their supply chains from China to ASEAN countries and deterred Chinese investment in the United States. Chinese global investment is decreasing, but investment in the United States has shrunk more significantly from US$24 billion in 2017 to US$9 billion in 2018 and US$3.2 billion in 2019..."
Source/publisher: "East Asia Forum" (Australia)
Date of entry/update: 2019-11-19
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Title: What can we expect from this year’s East Asia Summit?
Description: "As ASEAN leaders descend on Bangkok for the ASEAN Summit, regional leaders such as Shinzo Abe, Moon Jae-in and Scott Morrison are expected to join them for the East Asia Summit (EAS). First held in 2005, the EAS is a meeting of 18 leaders for strategic dialogue and cooperation on key political, security and economic challenges. It brings together the major regional players — China, Japan, South Korea, India, Australia, New Zealand and newest members Russia and the United States — to meet with the 10 ASEAN leaders annually on the sidelines of the ASEAN Summit. While the G20 and APEC summits receive significant coverage, the EAS barely rates a mention in most media outlets. It is hard to point to a set of concrete initiatives and impact it has delivered. Despite its low profile, the EAS has the potential to be a valuable forum. It is leaders-led. As Nick Bisley points out, the EAS’ leader-level format accurately ‘reflects the reality that, in statecraft, there are some things that only leaders can do’. While there is now also an EAS Foreign Ministers’ Meeting, an Economic Ministers’ Meeting and other ministerial meetings, its main value is the leaders’ meeting. It is inclusive. Hosted by the current ASEAN chair, it provides a voice to a diverse range of countries in the region, not just to those that have set the agenda in the past. The 18 EAS participating countries collectively represent 54 per cent of the world’s population and 58 per cent of global GDP. It has a broad remit. Unlike some other regional forums, the EAS aims to cover political, security and economic challenges facing the region. It has covered many different topics. Last year, EAS leaders discussed the South China Sea, the Korean Peninsula, the situation in Myanmar’s Rakhine State, counterterrorism, regional economic integration, maritime cooperation and connectivity. This year, it is expected that US–China tensions, the South China Sea and the Regional Comprehensive Economic Partnership (RCEP) trade deal will be high on the agenda. Last year, RCEP participating states expressed their eagerness to sign off on the deal at this year’s summit, though it may still not be finalised in time..."
Source/publisher: "East Asia Forum" (Australia)
Date of entry/update: 2019-11-19
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Title: Myanmar earns US$1.2 B more from border trade
Description: "Myanmar earned US$1.2 billion more from border trade within nine months of this fiscal year compared with the same period in last fiscal year despite lowered trade t the Muse border trade center, according to statistics from the Ministry of Commerce. Myanmar earned over US$8 billion from border trade within nine months from October 1 to June 28 in 2018-19 FY and it earned over US$6.730 billion from border trade in the same period. The export value was reduced over US$850 million from Muse border trade center within nine month of this fiscal year while the import value rose by over US$68 million from Muse border trade center. Myanmar earned US$3.8 billion from Muse border trade center within nine months of this fiscal year and it is less than over US$780 million compared with the same period in last fiscal year, according to the ministry. However, Myanmar earned over US$1.824 billion more from exports from Nabule/Htikhi border trade center in the same period in this fiscal year and over US$25 million more from imports in the same period, according to the ministry..."
Source/publisher: "Eleven Media Group" (Myanmar)
Date of entry/update: 2019-11-18
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Title: Over 1,100 tons of onion exported to Bangladesh in Oct
Description: "In October, Myanmar exported onion worth nearly 700,000 US dollars to Bangladesh, according to Maungdaw Border Trade Camp. Myanmar exported 180 tons of onion worth 79,950 US dollars to Bangladesh via Maungdaw Border Trade Camp in September and 1,175 tons of onion worth 696,600 US dollars in October. In October, Myanmar exported 319 tons of Rohu worth 294,355 US dollars and 46 tons of dried fishes worth 28,935 US dollars. Thar Tun Sein, an in-charge of the Maungdaw Border Trade Camp said: “We have to ship onion by three vessels a day. Sometimes, we ship onion by five vessels. On November 3, we exported around 75 tons of onion. The export volume is not regular. The onion-loaded trucks arrive in the border trade camp every day. The most export item is onion with more than 1,000 tons.” Currently, Myanmar exports 40 to 80 tons of onion via Maungdaw border trade jetty a day. Despite the arrival of onion at Maungdaw border, the onion price is still high. The price of onion increased from Ks 1,500 in October to Ks over 2,000 per viss in early November. Likewise, Myanmar exports onion via Sittwe Border Trade..."
Source/publisher: "Eleven Media Group" (Myanmar)
Date of entry/update: 2019-11-18
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Title: Ayala to invest $237M in Myanmar’s Yoma Group
Description: "AYALA CORP. (AC) is investing up to $237.5 million in Myanmar’s Yoma Group, marking the biggest investment by a Philippine company in Myanmar. AC announced the landmark deal in a statement yesterday, where it said it is taking a 20% stake in both of Yoma’s holding companies — Yoma Strategic Holdings Ltd. and First Myanmar Investment Public Co. Ltd. Yoma Strategic is listed in Singapore and has interests in property development, construction & piling services, project management and design services. First Myanmar Investment, on the other hand, is listed in Myanmar and is in the business of financial services, healthcare, real estate and tourism. AC will become the second-largest shareholder of these two companies, after the Pun family. AC President and Chief Operating Officer Fernando Zobel de Ayala will be nominated to the board of the two companies. AC Chairman and Chief Executive Officer Jaime Augusto Zobel de Ayala said the partnership with the Yoma Group gives the Philippines’ oldest conglomerate a chance to ride on Myanmar’s growth trajectory..."
Source/publisher: "BusinessWorld" (New Delhi)
Date of entry/update: 2019-11-17
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Title: Germany keen to raise investment and trade in Myanmar
Sub-title: Germany is keen to continue fostering trade and investment ties with Myanmar, said Oliver Hoos, first secretary and head of the economic and commercial section at the German Embassy in Myanmar.
Description: "Mr Hoos added that German businesses are also keen to invest in the Myanmar energy and agriculture sectors, adding to the US$32 million worth of investments by four other German businesses in Myanmar to-date, according to the Directorate of Investment and Company Administration. The largest investment by a Germany company in Myanmar is Metro Wholesale, which has channeled approximately US$10 million into its business operations in the country. Metro Wholesale is involved in food service distribution for hotels, restaurants, catering firms, independent small retailers and offices. It is a joint venture partnership between Metro AG, the German specialist in wholesale food and Yoma Strategic Holdings Limited, which is listed in Singapore. Metro Wholesale procures its raw materials directly from local farmers. Meanwhile, total trade volumes between Myanmar and Germany surpassed US$580 million in 2017-18, with exports exceeding imports by US$180 million. During the year, Myanmar exported a total of uS$380 million worth of goods, mainly garments and textiles, to Germany. It imports machinery and pharmaceutical products from Germany..."
Source/publisher: "Myanmar Times" (Myanmar)
Date of entry/update: 2019-11-17
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Title: Myanmar approves 8 more investment projects
Description: " Myanmar has approved eight more projects in five sectors in a latest scrutiny of submitted foreign investment projects, according to the Myanmar Investment Commission on Sunday. The investment projects worth a total of 232.21 million U.S. dollars were granted at Saturday's meeting of the commission in Yangon. These projects are in the sectors of manufacturing, real estate, service, livestock and fishery which will create over 1,700 job opportunities. According to the commission's statistics, by the end of October, Myanmar received the investment mainly from Singapore, China and Thailand in three top sectors with oil and gas accounting for 27.29 percent, power sector 25.77 percent and manufacturing sector 14.04 percent. In October, the commission had given green light to eight investment projects from home and abroad which were worth a total of 384.48 million U.S. dollars. Those projects, scattered in real estate, education service, agriculture and manufacturing sectors, were designed to create 33,279 local employment opportunities..."
Source/publisher: "Xinhua" (China)
Date of entry/update: 2019-11-17
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Title: Myanmar approves 8 more local, foreign investment enterprises
Description: "The Myanmar Investment Commission (MIC) recently approved eight more investment enterprises from home and abroad, according to a release from the Directorate of Investment and Company Administration (DICA) on Tuesday. At the meeting held on Monday, the commission gave the green light to local and foreign enterprises with investment capital of 279.88 million U.S. dollars and 156.9 billion kyats (104.6 million U.S. dollars) respectively. The permitted investments are set to flow into the country's real estate, education service, agriculture and manufacturing sectors, creating 33,279 local employment opportunities, the DICA's release said. From fiscal year (FY) 1988-1989 to FY 2018-2019 which ended in September, Myanmar attracted more than 81.8 billion U.S. dollars of investment from 1,837 foreign enterprises. During the period, Singapore, China and Thailand are the three leading investors, and by sector, oil and gas sector attracted most foreign investments, followed by power and manufacturing sectors..."
Source/publisher: "Xinhua" (China)
Date of entry/update: 2019-11-16
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Title: IFC study highlights potential for solar to help power businesses in Myanmar
Description: "A new IFC study shows there is significant potential for distributed solar solutions in the commercial and industrial sectors in Myanmar, presenting businesses an opportunity to bring down their power costs, as well as their climate impacts, according to a press release. The Myanmar Distributed Generation Scoping Study estimates there are more than 700 megawatts worth of potential commercial and industrial solar projects in the country, equivalent to around 10 percent of the existing electric power generating capacity in the country. And it says solar is now cost competitive with other sources of electricity for many commercial and industrial businesses, providing a viable addition to help diversify Myanmar’s sustainable energy mix. Myanmar needs to provide electricity to more than half of its population who are not connected to the national electricity grid and lack reliable electricity. Power outages are still common. Access to reliable electricity is a key challenge for businesses which are forced to rely on expensive costly, polluting backup diesel generators. The study found that businesses were getting an average of around 10 percent of their power from diesel due to frequent power cuts..."
Source/publisher: "Mizzima" (Myanmar)
Date of entry/update: 2019-11-15
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Title: Italy-Based ENI to Begin Exploring for Oil in Myanmar’s Mandalay Region
Description: "ENI, a multinational oil and gas company headquartered in Italy, will explore for oil and gas in eight townships in Mandalay Region, U Tin Win Hlaing, the chairman of the Mandalay regional parliament’s Industry, Energy and Electricity Committee, confirmed to The Irrawaddy. Exploration will be carried out in PSC-K, an onshore oil and gas block encompassing 1.3 million acres (approximately 526,000 hectares) and more than 370 villages in Tatkon, Yamethin, Pyawbwe, Wundwin, Thazi, Myittha, Kyaukse and Singaing townships, he said. ENI Co. explained its exploration plans to the Mandalay regional government and parliament in early November, and plans to hold consultations with local residents later this month. “First, it will conduct geophysical surveys before conducting a feasibility study,” U Hlaing Win said. ENI Co. and local company Myanmar Petroleum Exploration and Production (MPEP) won a tender in 2014 to explore onshore block PSC-K. The Italian company owns 90 percent of the venture, and the local company 10 percent..."
Source/publisher: "The Irrawaddy" (Thailand)
Date of entry/update: 2019-11-14
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Title: Myanmar hopes to be the next Asian winner of US-China trade war as Vietnam nears capacity
Description: "Myanmar expects to attract more investment as manufacturers seeking to relocate production from China to skirt US tariffs encounter capacity constraints in Vietnam. The Southeast Asian nation aims to woo a total of US$5.8 billion in foreign direct investment this year and cut back the red tape that deters some companies, according to a senior government official. “When it comes to relocation, Vietnam might be preferable but it’s already congested,” said Aung Naing Oo, permanent secretary at the Ministry of Investment and Foreign Economic Relations. “So, investors are now eyeing Indonesia and Myanmar.”..."
Source/publisher: "South China Morning Post" (Hong Kong)
Date of entry/update: 2019-11-12
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Title: Myanmar lags as ASEAN sees record FDI
Sub-title: Foreign direct investment (FDI) into Myanmar still lags other countries in ASEAN, according to a report issued by the ASEAN Secretariat last week.
Description: "The report ASEAN Investment Report 2019: FDI in Services showed that FDI into Myanmar declined despite record-high inflows into other countries in the grouping. FDI in Myanmar in 2018 slumped 11 percent to US$3.6 billion, primarily because of a 48 percent decline in investments in extractive industries. Although the country benefits from over 59 percent of investments from ASEAN countries, Myanmar is the only one among the CLMV countries - Cambodia, Laos, Myanmar, and Vietnam - that saw a decrease in intra-ASEAN investment. Myanmar continues to be favoured by companies based in Singapore, though many of them are subsidiaries of Chinese or Hong Kong entities. In 2018, more than 48 per cent of all intra-ASEAN investments went to Indonesia, making it the largest recipient of intraregional investment. Globally, the ongoing US-China trade war has seen combined FDI to the CLMV countries rising by 4 pc to $23 billion last year, accounting for 15pc of FDI in ASEAN, though Myanmar, along with Laos, still lagged behind. “Chinese and other Asian multinational enterprises are shifting production to the CLMV countries for cost reasons and in some cases because of the effect of the United States-China trade tensions,” the report stated..."
Source/publisher: "Myanmar Times"
Date of entry/update: 2019-11-12
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Title: Myanmar expects factory investment to jump on US-China tension
Summary: "Myanmar expects to attract more investment as manufacturers seeking to relocate production from China to skirt US tariffs encounter capacity constraints in Vietnam. The Southeast Asian nation,...
Description: "Myanmar expects to attract more investment as manufacturers seeking to relocate production from China to skirt US tariffs encounter capacity constraints in Vietnam. The Southeast Asian nation, whose goal is to woo a total of $5.8 billion in foreign-direct investment this year, is trying to cut back the red tape that deters some companies, according to a senior government official. “When it comes to relocation, Vietnam might be preferable, but it’s already congested,” said Aung Naing Oo, permanent secretary at the Ministry of Investment and Foreign Economic Relations. “So, investors are now eyeing Indonesia and Myanmar.” One advantage for Myanmar -- where about a third of the population lives in poverty -- is that Europe and the US offer preferential export terms to boost growth, according to Aung Naing Oo. At the same time, the $71 billion economy continues to face traditional obstacles such as insufficient supplies of electricity and industrial land..."
Source/publisher: "Bloomberg News" (New York) via "Bangkok Post" (Thailand)
Date of entry/update: 2019-11-11
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Title: PPB associate Wilmar to build largest rice mill in Myanmar economic zone
Description: "PPB Group Bhd's 18.5%-owned associate Wilmar International Ltd will build the largest rice mill in Myanmar's Thilawa Special Economic Zone to capitalise on Myanmar's economic growth, Eleven Media Group Co Ltd reported, quoting Wilmar International chairman and chief executive officer Kuok Khoon Hong. Eleven Media reported that Singapore-listed Wilmar International via subsidiary Wilmar Myanmar will build the mill, which will produce up to 1,200 tonnes of rice a day. Kuok was quoted as saying: "I believe that Myanmar owns the prosperity of business and agriculture sectors. So, it can create not only local agricultural imports (but) local and foreign markets." It was reported that upon completion of the rice mill, rice bags will be exported to other countries via Thilawa. "Wilmar Myanmar had opened the Wilmar Jetty on March 25, 2018. Myanmar Investment Commission granted Wilmar (the right) to operate Wilmar Myanmar Port Terminals (Thilawa) under a 50-year build, operate and transfer agreement with the government..."
Source/publisher: "The Edge Market" (Malaysia, Singapore)
Date of entry/update: 2019-11-10
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Title: Myanmar earns US$ 65 million from rice and broken rice export of more than 220,000 tons
Description: "Myanmar earned US$ 65 million from exporting more than 220,000 tons of rice and broken rice within one month of the current fiscal year, up US$ 21 million on more than 90,000 tons, compared to the same period of last year, said a source from the Ministry of Commerce. From October 1 to 25 in 2019-2020 financial years, Myanmar exported 220,000 tons of rice and broken rice, up more than 90,000 tons compared to the same period of last year, Khin Maung Lwin, Assistant Secretary of the Ministry of Commerce. “Rice and broken rice export volume reaches US$ 65 million, up 21 US$ million, compared to the same period of last year,” said Khin Maung Lwin. In the same period of last year, Myanmar exported up to 2.954 million tons and earned US$ 1,003.662 million. Myanmar is exporting rice to EU and African markets by water and China through Muse by land. Myanmar managed to extend its rice market into the world during 2017-2018 FY exporting almost 3.6 million tons..."
Source/publisher: "Eleven Media Group" (Myanmar)
Date of entry/update: 2019-11-09
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Title: Japan leads the way in trade with ASEAN
Description: "Tens of thousands of Japanese companies operate in ASEAN and their number is increasing year by year.Japan is establishing chambers of commerce in many areas and many companies are participating in their activities. These chambers of commerce are members of the Federation of Japanese Chambers of Commerce and Industry in ASEAN (FJCCIA), a group consisting of 10 Japanese chambers of commerce in nine ASEAN countries, excluding Brunei. Their objective is to improve the business environment for Japanese companies in the ASEAN region. Since 2008, FJCCIA has held a dialogue with the Secretary-General of ASEAN every year. This gives Japanese companies in ASEAN and the Japan External Trade Organization (JETRO) the opportunity to make proposals for improving the business environment to ASEAN. There has been success, for example, in improving the operation of certificates of origin, which are necessary to give preferential treatment to mutual goods in the ASEAN region’s trade. Why is that important? Bilateral or multilateral free trade agreements (FTAs) can be signed to reduce tariffs and eliminate non-tariff barriers to increase free trade and investment. In the case of trade under FTAs, the importer submits a Preferential Certificate of Origin to customs when importing. The format of the certificate of origin is different according to each FTA and the importer must follow each agreement. Normally, the most favoured nation (MFN) tariff rate is applied — a lower rate than the General Tariff Rate, Temporary Tariff Rate or Tariff Rate of the World Trade Organization. But among FTA countries, goods can be imported at an even lower preferential tariff than the MFN tax rate..."
Source/publisher: "East Asia Forum" (Australia)
Date of entry/update: 2019-11-07
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Title: Making the Belt and Road work for Southeast Asia
Description: "Southeast Asia is an important strategic partner in China’s Belt and Road Initiative (BRI). The region serves as a key link in the BRI’s Maritime Silk Road, which aims to connect China’s coast to South Asia, the Middle East and Europe through the South China Sea and Indian Ocean. But criticisms of the BRI highlight some of the risks of participation. Southeast Asian countries should address these risks by persuading China to adopt multilateral rules that broaden participation in the BRI, including by leveraging ASEAN’s potential role. According to a 2018 study by Oxford Economics and the CIMB ASEAN Research Institute, BRI projects in ASEAN countries amount to more than US$739 billion. Indonesia is home to the highest BRI investment total amounting to US$171 billion, followed by Vietnam (US$152 billion), Cambodia (US$104 billion), Malaysia (US$98.5 billion), Singapore (US$70.1 billion), Laos (US$48 billion), Brunei (US$36 billion), Myanmar (US$27.2 billion), Thailand (US$24 billion) and the Philippines (US$9.4 billion). In April 2019, China hosted the second Belt and Road Forum which was attended by 37 heads of state, government and international organisations. During the Forum, President Xi Jinping said the BRI will adopt multilateral rules and international best practices in implementing the projects. Xi’s apparent willingness to multilateralise the BRI is necessary to prevent projects in Southeast Asia from being exposed to operational risks, policy risks and project cancellations and to address criticisms of its lack of transparency and inclusivity..."
Source/publisher: "East Asia Forum" (Australia)
Date of entry/update: 2019-11-07
Copyright holder: https://www.eastasiaforum.org/2019/07/13/making-the-belt-and-road-work-for-southeast-asia/
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Title: Dawei SEZ draws investor interest, but lacks infrastructure
Sub-title: Businesses from China, Thailand, Korea and Japan, including those from the power and logistics sectors, have said they are keen to invest in the Dawei Special Economic Zone (SEZ) in Tanintharyi, which is near the Thai border.
Description: "Investor interest in Dawei, which has yet to be developed, has been on the rise since Myanmar and Thailand agreed to speed up development of the SEZ during the 9th Myanmar – Thailand Joint Coordinating Committee meeting last month. “Power companies from China, steel firms from Thailand and logistics firms from South Korea have said they want to make site visits as they are interested to invest,” said U Myint San, vice chair of Dawei SEZ Management Committee. Although official invitations have yet to be sent out, China’s V Power, which will import liquefied natural gas (LNG) into the country next year, has voiced interest in the SEZ, as has China National Technical Import and Export Corp (CNTIC), which is also interested in selling LNG to Myanmar and its neighbours. “CNTIC has had discussions with the government on supplying LNG which can be converted into energy due to the electricity shortage in Myanmar. They plan to transport the LNG to Myanmar using gas tankers and set up base in Dawei SEZ,” U Myint San said. The other Chinese energy and power firms are Power China International Group, China Tianchen Engineering Corporation and TBEA Xi’an Electric Technology Co. Korean logistics firm Hyundai Glovis is keen to offer logistics and transportation services to the SEZ, linking it to Bangkok via land and to Thilawa SEZ in Yangon via and land and sea, it said. Meanwhile, Thai firms are interested in steel production at the SEZ. “Given that steel requirements in both Thailand and Myanmar are high, they want to build steel mills in Myanmar,” said U Myint San..."
Source/publisher: "Myanmar Times" (Myanmar)
Date of entry/update: 2019-11-06
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Title: Myanmar becoming an important catalyst in US-UN, China-Russia tensions?
Description: "Much has been reported on the recent release of the two Reuters journalists in Myanmar. Whilst the focus has been on issues of press freedom, many commentators have not evaluated the international response to the release. In my view, the response by the likes of Europe, USA, China and Russia, is an indicator of the growing geo-political tensions within the Asian region. More importantly, it highlights the potential that Myanmar has to unify China and Russia’s stance against what they view as the USA’s geo-political and ideological threat. This Sino-Russia unification is being facilitated by developments along the China Belt Road Initiative (BRI), in which the China Myanmar Economic Corridor is playing an increasing role. As mentioned in earlier articles, Myanmar and the port of Kyauk Phyu, provides China with a solution for energy and trade security by allowing China to bypass the Malacca Straits. It also shifts the previous relations between China, Russia and Myanmar from being military in design to that built around trade. This is in direct contrast to the US and UN pushing for more sanctions against Myanmar over what they see as human rights violations. Exacerbating this divide, is that the call for increased sanctions comes at a time when Myanmar is further opening its economy through regulatory change..."
Source/publisher: "Mizzima" (Myanmar)
Date of entry/update: 2019-11-06
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Title: Egat talks power trade with Cambodia, Myanmar
Description: "The state-run Electricity Generating Authority of Thailand (Egat) is planning to talk with power authorities in Cambodia and Myanmar to trade electricity from Thailand at a combined capacity of 500 megawatts. Patana Sangsriroujana, deputy governor for policy and planning, said Egat has been ordered by Energy Minister Sontirat Sontijirawong to talk with the two governments about future power trading. "The sales to Cambodia will happen quicker than Myanmar because some transmission lines have been developed in Cambodia," said Mr Patana. "Myanmar requires new investment for power infrastructure." He said the electricity trade to both countries should begin by 2023. The energy ministers of the three countries need to agree on a contract. Mr Patana said the Laos government is also interested in trading power to Cambodia and Myanmar under its Battery of Asia policy..."
Source/publisher: "Bangkok Post" (Thailand)
Date of entry/update: 2019-11-05
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Title: Giants vie for influence in Myanmar
Description: "Behind the scenes of this year's Asean and East Asian summits, currently taking place in Bangkok, the region's key nations -- China, India and Japan -- are engaged in a quiet battle for greater influence in Myanmar. While on the sidelines, the countries of Asean, especially Thailand, as the current chair of the regional organisation, are offering qualified support for its problematic ally, largely behind the scenes. The fact that the State Counsellor, Aung San Suu Kyi, is here is a measure of how important she and the Myanmar government regard their relations with the region and its top powers. In the face of growing Western criticism, Myanmar is anxious to secure greater support from its Asian "friends". Sources close to "the Lady", as she is affectionately known in the country, say she feels bitterly betrayed by the United Kingdom and United States. Last year she told a close confidante that Myanmar only had two friends it could really trust -- China and Japan, and to a lesser degree India. Asean's support, though less significant than the big three "neighbours", was taken for granted, according to diplomatic sources..."
Source/publisher: "Bangkok Post" (Thailand)
Date of entry/update: 2019-11-04
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Title: Modi favours expansion of ties between India, ASEAN
Description: "India's Prime Minister Narendra Modi laughs next to Singaporeand's Prime Minister Lee Hsien Loong at the ASEAN-India Summit on the sideline of the 35th ASEAN Summit in Bangkok, Thailand November 3, 2019. REUTERS Photo Bangkok, November 3 (PTI): Prime Minister Narendra Modi on Sunday presented a brief blue-print for further expansion of India's multi-sectoral engagement with the Association of Southeast Asian Nations (ASEAN), one of the most influential groupings for trade and investment globally. In his opening address at the India-ASEAN summit, the prime minister said enhancing surface, air and maritime connectivity between India and 10 nations of the bloc will significantly boost regional trade and economic growth. Modi said there was opportunity for boosting cooperation in the maritime security sphere and blue economy as well as in areas of agriculture, engineering, digital technology and scientific research. The prime minister also welcomed convergence of views between India and ASEAN for cooperation in the Indo-Pacific region..."
Source/publisher: "The Morung Express" (India)
Date of entry/update: 2019-11-04
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Title: World's largest trade deal RCEP faces delay as India pushes back against China
Sub-title: Sixteen-nation Regional Comprehensive Economic Partnership will cover half the planet’s people
Description: "The world’s largest trade deal is unlikely to be signed this year, with a draft statement from south-east Asian leaders suggesting it will be delayed until 2020, despite China’s desire to bring it into operation as soon as possible as a counterweight to its debilitating tariff war with the US. The 16-country Regional Comprehensive Economic Partnership – known as the RCEP – would be the world’s largest when operational, spanning India to New Zealand, including 30% of global GDP and half of the world’s people. But resistance from India – concerned about a flood of cheap mass-produced Chinese goods hurting small businesses in its economy – appears set to cruel hopes of finalising the pact at the Association of Southeast Asian Nations summit in Bangkok, where members of the 10-nation bloc have been joined by the leaders of powerful observer nations India and China for the East Asia Summit. On a bilateral level, the Chinese premier, Li Keqiang, has met the Australian prime minister, Scott Morrison, on the sidelines of the Bangkok meeting, offering to help get the China-Australia relationship “on the right track”. “We are ready to work with the Australian side to keep our relationship on the right track, deepen our mutual trust, and jointly maintain regional and global peace,” Li told Morrison..."
Source/publisher: "The Guardian" (UK)
Date of entry/update: 2019-11-04
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Title: Asean leaders meet under US-China trade war cloud
Sub-title: US delegation downgrade signals revised role, Modi defends India's hard line on RCEP
Description: "Southeast Asian countries must stick together in the face of a trade war started by US President Donald Trump, Malaysian Prime Minister Mahathir Mohamad said on Saturday at the start of a regional summit held in the shadow of US-China tensions. But as Asean leaders met in Bangkok on Saturday, there was no sign they had yet finalised a planned trade deal backed by China that could create the world’s biggest free trade area. “Asean is quite a big market for the whole world. We don’t want to go into a trade war,” Dr Mahathir told a business summit on the sidelines of the main meeting. “But sometimes when they’re unnice to us, we have to be unnice to them.” He described campaigns against exports of palm oil from Malaysia and Indonesia over concerns regarding labour and the environment as “sabotage”. “If you cut back some imports of palm oil from Malaysia, we can cut back our imports from them,” he said..."
Source/publisher: "Bangkok Post" (Thailand)
Date of entry/update: 2019-11-03
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Title: Belt And Road Initiative: Why China Pursues It – Analysis
Description: "As BRI is now enshrined in the Communist Party Charter as Xi’s signature foreign policy initiative, a failure could undermine the legitimacy of the party itself. After spending billions of dollars abroad, failure could lead to a challenge of Xi’s authority. By Anu Anwar* Originally announced by Chairman Xi Jinping in 2013 as the One Belt One Road initiative (一带一路 ), which is still the name used in China and in the Chinese language, China simplified the English translation of this project to the Belt and Road Initiative (BRI). While OBOR implied two routes, a maritime road through the Indian Ocean and a land belt across central Asia, in reality, there are multiple and growing interconnected global networks. In addition, the name BRI tries to counter the critical narrative that both routes go only to Beijing. The BRI aims to bolster China’s connectivity with the world. It combines old and new projects, covers an extended geographic region, and includes efforts to strengthen hard and soft infrastructure development, investment, and cultural ties. At present, the initiative extends to 138 countries with a combined gross domestic product of US$23 trillion and includes some 4.4 billion people..."
Source/publisher: "Eurasia Review"
Date of entry/update: 2019-11-03
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Title: Myanmar's foreign trade reaches over 2 bln USD in single month
Description: "Trade between Myanmar and foreign countries reached over 2.3 billion U.S. dollars in the first month of present fiscal year (FY) 2019-2020 which started in October, according to figures released by the Commerce Ministry on Saturday. As of Oct. 25, Myanmar earned over 1.15 billion U.S. dollars from its export while its import reached 1.2 billion U.S. dollars. During the period, the country's foreign trade through sea route totaled over 1.78 billion U.S. dollars while its border trade amounted over 598.8 million U.S. dollars. About 80 percent of the country's foreign trade are done through sea-borne trade and its border trade is being conducted through 17 border trade points with four neighbouring countries -- China, Thailand, India and Bangladesh. Myanmar mainly exports agricultural products, animal products, marine products, minerals, forest products, manufacturing goods and others while importing capital goods, intermediate goods and consumer goods from other countries..."
Source/publisher: "Xinhua" (China)
Date of entry/update: 2019-11-03
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Title: Challenges in Belt and Road construction
Sub-title: Cooperation urged at forum to ensure high-quality development
Description: "In April 2019, the second Belt and Road Forum for International Cooperation was held in Beijing, launching a new journey of the joint construction of the Belt and Road with high quality. In the keynote speech at the opening ceremony of the forum, President Xi Jinping pointed out that we should work together for high-quality development of the Belt and Road cooperation, fully implement the principle of extensive consultation, joint contribution and shared benefits, pursue open, green and clean cooperation, and follow a high-standard, people-oriented and sustainable approach. The connotation of high-quality development of Belt and Road cooperation was clarified. During the forum, relevant departments also released or launched the Debt Sustainability Framework for participating countries of the Belt and Road Initiative, Beijing Initiative for the Clean Silk Road, Cooperation Initiative on Silk Road of Innovation and Green Investment Principles. Background of the high-quality belt and road construction For some time now, some countries in Europe and the United States have questioned and made accusations against the Belt and Road Initiative. First, the questions are about “best practices” or international rules. Some European and American countries believe that the Belt and Road Initiative does not comply with “internationally accepted rules”, including “transparency”, “environmental social security” and “debt sustainability”; fails to perform “free trade” or “fair competition”; undermines the ecological environment; disrespects the legitimate rights and interests of workers in the host country; and increases the debt burden of the host country..."
Source/publisher: "Asia Times" (Hong Kong)
Date of entry/update: 2019-10-28
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Title: What Is the Belt and Road News Network?
Sub-title: A centralized source for BRI information would be welcome, but BRNN may blur the line between data and party-state talking points.
Description: "In April, China quietly launched a new media group: The Belt and Road News Network (BRNN). The BRNN’s mission is to boost “understanding, friendship and cooperation, and form a normalized mechanism for collaboration,” across the participating countries and regions of China’s multi-billion dollar connectivity project. Concepts of dialogue, the exchange of ideas, information, and products, and innovation feature prominently in BRNN materials. The BRNN is likely an outgrowth of ideas posited by Chinese President Xi Jinping at the first Belt and Road Forum in 2017. In the concluding portions of his address that year, Xi said “We will also develop a network for cooperation among the NGOs in countries along the Belt and Road as well as new people-to-people exchange platforms such as a Belt and Road news alliance and a music education alliance.”Two years on, the platform is headquartered in Beijing and chaired by the People’s Daily, China’s largest newspaper group and the official outlet of the Central Committee of the Chinese Communist Party. According to the network’s charter, the BRNN’s council consists of 14 members from China and 26 others from Asia, Africa, Europe, Latin America, the Middle East, and Eurasia (Bangladesh, Belarus, Egypt, Ethiopia, France, Indonesia, Kazakhstan, Laos, Mexico, Mongolia, Myanmar, Netherlands, Nigeria, Pakistan, Portugal, Russia, South Africa, South Korea, Spain, Sudan, Tanzania, U.A.E, U.K. and Zambia)..."
Source/publisher: "The Diplomat" (Japan)
Date of entry/update: 2019-10-27
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Title: Why Foreign Policy Matters to Myanmar’s Democratic Transition
Sub-title: In the best-case scenario, Myanmar would be rich like the East and democratic like the West.
Description: "Global media coverage has not been easy on Myanmar. The refugee crisis in northwestern Rakhine sparked a firestorm of international criticism that has only been intensified by allegations of ethnic cleansing. A barrage of punitive actions followed, though most were targeted at the Tatmadaw, the Myanmar military, and have not yet resulted in drastic, direct impact on the population at large. Still, serious contemplation was given to imposing broader economic restrictions, in particular the withdrawal of general scheme of preferences benefits by the European Union (EU). Myanmar’s tarnished images also brought about a decline in tourist arrivals, notably from Western countries. Foreign investors, fearing economic sanctions and reputational risk, have hesitated to bring in more capital. Coupled with public dissatisfaction over the pace of economic reforms and a period of exchange rate volatility, the country’s growth forecast has decreased to 6.2 percent in the 2018/2019 fiscal year, from the 6.8 percent growth experienced in the 2017/2018 fiscal year..."
Source/publisher: "The Diplomat" (Japan)
Date of entry/update: 2019-10-25
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Title: Declining imports, trade deficit not a cause for concern: experts
Sub-title: Myanmar saw a shrinking of its trade deficit to US$1.1 billion in fiscal 2018-19, the first time in six years that exports grew faster than imports.
Description: "“The trade deficit for 2018-19 declined substantially due to higher export volumes and a dip in imports compared to last year,” said U Khin Maung Lwin, assistant secretary at the Ministry of Commerce (MOC). While some question if the fall in imports is as a result of a slower economy, experts see no cause for concern yet, saying the dip is due to higher volumes of local production and stricter regulations. Meanwhile, they expect exports to rise further, driven by growth and investments. Total trade volumes for the period between October 1, 2018 and September 30, 2019 were almost $35 billion, with exports valued at $16.9 billion compared to imports of $18 billion. At $1.1 billion, the trade deficit falls short of the government’s target of $500 million. In comparison, total trade volumes the year before were slightly higher at $35.9 billion, with the trade deficit for that year exceeding $3 billion. Exports totaled $16.4 billion while imports were valued at $19.4 billion..."
Source/publisher: "Myanmar Times" (Myanmar)
Date of entry/update: 2019-10-22
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Title: TCP targets Myanmar with plant
Description: "TOA-Chugoku Paints (TCP) has earmarked 500 million baht to construct its first overseas paint factory in Myanmar, expecting to capture demand from megaprojects. The new factory will produce two paint products -- heavy-duty coating and marine paint -- with a monthly capacity of 300 tonnes. The project will be located in Thilawa Special Economic Zone on an area of 12 rai. It is scheduled to begin operations in April 2020. TCP set up a new local unit in Myanmar, Chugoku-TOA Paints Myanmar, to operate the factory. Chugoku Marine Paints (CMP) from Japan holds a 51% stake in the Thilawa company, while TOA Venture Holding (TOAVH) from Thailand owns the remainder..."
Source/publisher: "Bangkok Post" (Thailand)
Date of entry/update: 2019-10-22
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Title: Myanmar: A New Pattern of China-Japan Interactions?
Sub-title: If Japan and China focus on different rail systems in Myanmar, can their division of labor create a new pattern for cooperation?
Description: "Myanmar Railways (MR) has been variously criticized for its low efficiency and increasing costs. Solutions are needed. Since the country’s independence, the British colonial era meter gauge rail system has not been modernized much. Antiquated semaphore signals and manual blocking systems are still broadly in service, suggesting both the limited capacity of lines, and the poor maintenance of tracks. Rolling stock operates at significantly reduced speed, only 40km/hr on average. It takes trains about 15 hours to complete the 620 km journey between Mandalay and Yangon, much slower than buses, which can make the trip in as little as 8 hours depending on the type of bus in question. Unsurprisingly, then, MR’s share of land transport in Myanmar has been dropping in the last three decades and the company faces rising deficits. Naypyidaw is aware of the challenge, but it has the same dilemma other Southeast Asian countries face: whether to upgrade the existing meter gauge system for practicality’s sake, or to establish an entirely new standard gauge system for higher speed connection with China. Based on Myanmar’s financial capacity, upgrading the existing system is already a difficult ask, not to mention building an entirely new rail network. However, thanks to Japanese and Chinese capital, upgrades to the existing system are ongoing, and a standard gauge system is likely to be built. Tokyo has financially and technologically modernized the MR network, mainly the Yangon circle line and the trunk line between Yangon and Mandalay, in addition to improving five MR maintenance sites. These projects are scheduled to be finished by 2024, after which MR passenger services will reach a top speed of 100 km/hr, and more than double of the amount of service. Furthermore, more efficient freight services will contribute to Myanmar’s blooming inland dry port projects, a considerable factor for import and export costs..."
Source/publisher: "The Diplomat" (Japan)
Date of entry/update: 2019-10-18
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Title: Individuals' border trade totals nearly 40 mln USD in Myanmar in FY 2018-19
Description: "Myanmar's border trade using Individual Trading Cards (ITCs) totaled over 59 billion kyats (39.3 million U.S. dollars) in the fiscal year 2018-2019 which ended in September, according to figures from the Commerce Ministry on Tuesday. During the period, 163 ITCs were permitted by the ministry and its export value through border gates amounted to over 9.38 billion kyats (6.25 million U.S. dollars) while import value was 49.6 billion kyats (33.1 million U.S. dollars). From Oct. 1, 2018 to Sept. 30, 2019, Myawady border gate registered the highest trade using the ITCs with capital of 32 billion kyats (21.3 million U.S. dollars). Since FY 2012-2013, the ministry issued 1,687 ITCs and its total trade value amounted to over 169.2 billion kyats (112.8 million U.S. dollars), the ministry's figures showed. The country is conducting border trade with China, Thailand, Bangladesh and India. Myanmar mainly exports agricultural products, animal products, fisheries, minerals and forest products to foreign countries while capital goods, intermediate goods and consumer goods are imported into the country..."
Source/publisher: "Xinhua" (China)
Date of entry/update: 2019-10-16
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Title: Myanmar to benefit from ASEAN trade pact: official
Sub-title: Myanmar will reap the benefits of a regional trade pact being hammered out by the 10-member Association of Southeast Asian Nations (ASEAN), according to its secretary-general, Lim Jock Hoi.
Description: "Lim said that once the Regional Comprehensive Economic Partnership (RCEP) is concluded between ASEAN, Australia, China, India, Japan, South Korea and New Zealand, the region will experience more growth and development. ASEAN groups Brunei, Cambodia, Indonesia, Laos, Myanmar, Malaysia, the Philippines, Singapore, Thailand and Vietnam. Lim said that ASEAN is confident that the regional pact will be completed despite Malaysia’s recent decision to backtrack on its commitment to the deal, and the intensifying trade spat between Japan and South Korea. “I am optimistic that RCEP negotiations will continue as planned,” he told reporters during a forum in Bangkok. If concluded successfully, the RCEP could be one of the largest trade blocs in the world, accounting for 45 percent of the world’s population, 40pc of global trade, and about one third of the world’s GDP. Lim said Myanmar need not immediately join the RCEP, but can take its time in preparing its economy before agreeing to the pact..."
Source/publisher: "Myanmar Times" (Myanmar)
Date of entry/update: 2019-10-08
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Title: Over 4.15 bln USD of foreign investment enter Myanmar in FY 2018-19
Description: "Over 4.15 billion U.S. dollars of investment capital from the permitted foreign enterprises entered Myanmar in the fiscal year 2018-2019 which ended in September, according to the Directorate of Investment and Company Administration (DICA) on Saturday. From Oct. 1, 2018 to Sept. 30 this year, 282 foreign enterprises were approved by the Myanmar Investment Commission (MIC). During the period, the transport and communication sector topped the list with over 1.53 billion U.S. dollars, followed by manufacturing sector with over 1.34 billion U.S. dollars and other services with 650 million U.S. dollars. The figures dropped by over 1.5 billion U.S. dollars, compared to the FY 2017-2018 when Myanmar attracted over 5.7 billion U.S. dollars of foreign investment..."
Source/publisher: "Xinhua" (China)
Date of entry/update: 2019-10-05
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Title: Myanmar's rubber exports exceed target for 2018-19
Description: "Myanmar exported 192,980 tons of rubber worth of 247.56 million U.S. dollars in the first 11 months from October to August of the present fiscal year 2018-19 , exceeding the targeted of 170,000 tons, according to the figures of the Ministry of Commerce on Sunday. The rubber exports increased by 41,090 tons compared with the same period of the previous year of 2017-18 when it registered 151,890 tons worth 184.36 million U.S. dollars. There are over 1.63 million acres (660,100 hectares) of rubber plantations across Myanmar and its rubber is mostly exported to China, Singapore, Indonesia, Malaysia, Vietnam, South Korea, India and Japan. Myanmar Rubber Planters and Producers Association has called on growers and all stakeholders in the rubber supply chain in the country to make efforts to produce profitable quality rubber to boost the export..."
Source/publisher: "Xinhua"
Date of entry/update: 2019-09-15
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Title: Taking a Quantum Leap to Revamp Myanmar’s Economy
Summary: "Since last year, Myanmar officials responsible for drumming up foreign investment have been shuttling between Naypyitaw and Asian countries to pitch the government’s latest legal, procedural, and...
Description: "Since last year, Myanmar officials responsible for drumming up foreign investment have been shuttling between Naypyitaw and Asian countries to pitch the government’s latest legal, procedural, and institutional reforms to potential investors as part of efforts to revitalize the country’s economy. State Counselor Daw Aung San Suu Kyi often highlights foreign direct investment (FDI) as a key driver of Myanmar’s economy. Starting last year, both abroad and at home, Myanmar has held investment and business forums with Japan, South Korea, China, Malaysia, Thailand, Hong Kong and Singapore among Asian countries, and the US, UK, Czech, Hungary and Australia among Western nations. Between January and September this year, the government organized a Union-level investment summit in Naypyitaw and four major investment forums in Yangon and Mandalay regions, and in Rakhine and Chin states, inviting both local and foreign investors to attend. This is part of the government’s investment promotion plan, which has emphasized East Asian countries since the country’s image took a battering in the wake of the 2017 Rohingya crisis in Rakhine State, which turned off Western investors..."
Source/publisher: "The Irrawaddy"
Date of entry/update: 2019-09-12
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Title: Myanmar Economic Zone reimagined as Export Hub to India
Description: "Plans for an Economic Zone in Southern Myanmar will be reworked by Japan into an export base to such markets as India, in an attempt to kick start the stalled project as China expands its economic influence in the Southeast Asian Country. The new proposal for the Dawei Special Economic Zone being developed jointly by Japan, Myanmar and Thailand will prioritise building logistics and port facilities to turn it into a base for shipping and light industry by 2030. Japan, Thailand and Myanmar signed an agreement on developing Dawei in 2015, with Tokyo investing in the project through the Japan Bank for International Cooperation. The original plan was to focus on heavy industry and chemical manufacturing. But much of the land in the area remains vacant, and the planned port has yet to be built..."
Source/publisher: "Belt & Road News"
Date of entry/update: 2019-09-04
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Title: How China is redrawing the map of world science
Sub-title: The Belt and Road Initiative, China’s mega-plan for global infrastructure, will transform the lives and work of tens of thousands of researchers.
Description: "On a freezing November morning, Ashraf Islam is 3,000 kilometres from his family in balmy Bangladesh, but the weather is far from his mind as he gushes about the science opportunities he has encountered in Beijing. “We have good facilities at home, but the facilities here are nothing like what I’ve used before,” says Islam, who is working towards a PhD in China researching techniques to remove organic matter from wastewater, an acute problem in Bangladesh. Htet Aung Phyo, a PhD student from Myanmar, is using his Chinese-funded fellowship in Beijing to develop ways to use bacteria to extract copper from low-grade ore. If his project succeeds, it could help to extend the lives of copper mines in Myanmar, some of which are operated by a Chinese company. A breakthrough would also mean more jobs in his own country. “This is why I am here,” he says proudly. Phyo and Islam are two of 1,300 graduate students from dozens of countries who are spending up to four years in Beijing carrying out research to help solve scientific problems back home. Two hundred positions are funded each year by the Chinese Academy of Sciences (CAS) in conjunction with The World Academy of Sciences (TWAS) in Trieste, Italy. But this is no ordinary fellowship scheme. Each of the 200 is a small part of the Belt and Road Initiative (BRI), the world’s largest programme of loans and investments, including some grants, which China is brokering with 126 countries..."
Source/publisher: The Belt and Road Initiative, China’s mega-plan for global infrastructure, will transform the lives and work of tens of thousands of researchers.
Date of entry/update: 2019-08-16
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Title: Myanmar economy losing momentum: IMF
Sub-title: Fund says growth could be hit by factors linked to Rohingya refugee crisis and banking sector weakness
Description: "The International Monetary Fund has warned that the Myanmar economy “appears to be losing momentum”, citing concerns over fallout from the Rohingya refugee crisis and weaknesses in the banking sector, The Myanmar Times reported on April 21. “A prolonged humanitarian crisis and any withdrawal of trade preferences could reduce concessional donor financing and investment leading to lower growth,” the IMF said. The fragility of its banks presents another risk, the Myanmar Times quoted the IMF as saying. Macro-financial spillovers from ongoing restructuring of the banking sector may become more severe if banks delay recapitalization, the IMF warned. Headline inflation was moderate in fiscal 2017-2018, averaging 4.0%, but is rising now because of increased fuel prices and depreciation of the Myanmar currency, he kyat. The kyat has depreciated 14.5% since April 2018. Despite the IMF’s assessment that the country has “favorable long-term prospects”, growth is expected to “remain below potential” this year due to weakening export demand and subdued private construction activity..."
Source/publisher: "Asia Times"
Date of entry/update: 2019-08-14
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Title: What Myanmar stands to gain – and Thailand lose – from a President Clinton
Sub-title: As Bangkok cosies up to Beijing, Naypidaw is drawing away – giving the US an opportunity for a new strategic partnership in the region
Description: "With the presidential election in the United States getting nearer, there is one country where the outcome could have far-reaching consequences: Myanmar. Donald Trump has not said anything noteworthy about Southeast Asia, but Hillary Clinton, who is leading in the polls, is a close friend of Myanmar’s State Counsellor and de facto head of government, Aung San Suu Kyi. There is not doubt that Clinton would feel more comfortable dealing with her than the generals who now rule America’s traditional ally in the region, Thailand.Myanmar’s drift away from its previously close economic, political and military relationship with China – and the Thai government’s increasingly close ties with Beijing – opens the possibility of a new strategic partner for the US in the region..."
Source/publisher: "The Week In Asia"
Date of entry/update: 2019-08-14
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Title: December 2018: Myanmar Economic Monitor
Description: "Myanmar’s economy is navigating significant uncertainty and risks at home and abroad. A year after violent upheaval in Rakhine State led to the forced displacement of over seven hundred thousand refugees1 to Bangladesh, limited progress has been made in resolving fundamental issues relating to rights, repatriation and recovery. Global economic and trade prospects have also become more uncertain. Myanmar’s economic growth is expected to slow from 6.8 percent in 2017/18 to 6.2 percent in 2018/19, which is still robust by regional and global standards. Macroeconomic volatility has intensified since the May 2018 Myanmar Economic Monitor, with inflation breaching two-year highs in August 2018, and the kyat depreciating by 18 percent against the U.S. dollar since April. Growth is projected to recover to 6.6 percent by 2020/21, helped by recent policy changes such as the adoption of the Myanmar Sustainable Development Plan, liberalization of wholesale and retail trade, implementation of the Myanmar Companies Law and large investments in infrastructure projects including those related to the Belt and Road Initiative. Risks to the outlook are tilted to the downside due to the possibility of a global slowdown in trade, domestic macroeconomic imbalances, and the loss of trade-related preferences to the European Union..."
Source/publisher: World Bank
Date of entry/update: 2019-07-10
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Title: June 2019: Myanmar Economic Monitor
Sub-title: Building Reform Momentum
Description: "Myanmar’s economy is slowly picking up speed and regaining stability after a volatile 2018. Despite a challenging global environment, Myanmar’s economic growth is expected to rise to 6.5 percent in 2018/19 from 6.4 percent in the Transition Period1 supported by strong performance in the manufacturing and services sectors. Volatility that buffeted the economy in 2018 has started to ease. Inflation moderated, the kyat stabilized, and fuel prices fell in Q1 2018/19, though there have been some reversals in prices in Q2. The economic outlook looks positive, with growth expected to reach 6.7 percent in the medium-term. The recent decisions to ease trade restrictions; open the financial sector to greater foreign competition; and begin mega infrastructure projects signal a decisive and awaited uptick in reform momentum. Downside risks to the economic outlook are driven by external factors, including possible revocation of preferential trade access under the European Union Generalized System of Preferences. Slowing global and regional growth, especially in China, together with renewed escalation of global trade tensions, could also slow exports and the flow of inbound foreign investments. Insecurity in border areas, the Rakhine crisis, with violence and forced displacement of refugees, and the recent flare-up in violence involving the Arakan Army, could affect investors’ sentiment. The 2020 general election is also a source of uncertainty..."
Source/publisher: World Bank
Date of entry/update: 2019-07-10
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