Airplane #Myanmar (Burma) Air Force missing

An airplane of Myanmar’s air force has disappeared from the radar. That has declared the army of the country today. The unit has 116 people on board.

The Communication with the plane was suddenly broken, according to the army. The airplane was flew at more than 30 kilometers west of Dawei City, in southern Myanmar, former Burma.

Source – The Dutch AD

Nothing reported yet on the Myanmar Times

PS – Found more information

Tatmadaw transportation plane Y-8 missing; search and rescue operations under way

Nay Pyi Taw June 7

The Tatmadaw welfare transportation plane (Y-8-200 F No. 5820) carrying 108 military personnel and family members and 14 crew members and about 2.4 tons of cargo on board started flying from Myeik to Yangon at 1.06 pm today in accordance with the route Yangon-Myeik-Pokkpyin-Myeik-Yangon. While the aircraft was flying at an altitude of 18,000 feet, it lost contact with the Dawei Air-port at 195° southwest of Dawei about 43 miles from the town at 1.35 pm.

After losing contact with the aircraft, Air Force aircraft, Navy vessels and ground troops conducted search and rescue operations at a place between 13.48 degrees north latitude and 98.02 degrees east longitude where contact from the plane was last received. There was certain degree of waves at the sea during the time the incident occurred. When the weather became fine at about 6 pm local vessels joined in the search and rescue operations. Currently, nine Navy vessels, three Air Force planes and ground troops are carrying out search and rescue work in cooperation with local vessels.

The plane, Y-8-200 F, arrived in March last year. It had 809 flying hours in the service of Air Force. It was operated by seasoned pilot Officiating Lt-Col Nyein Chan with 3,162 flying hours, co-pilot Officiating Lt-Col Soe Thu Win with 3,161 flying hours, co-pilot Maj Thant Zin Htay with 2,403 flying hours and flight engineer Capt Kyaw Soe. It has a 14-member flight crew. Passengers were 35 officers and other ranks and 15 children (6 boys, 9 girls) and 58 adults (13 men, 45 women) who were families members totaling 108.

Residents yet to get Myanmar-China pipeline compensation

Despite the fact that the Myanmar-China pipeline has started to import oil, local residents have yet to receive the compensation due to them for damage to their crops arising from digging works on the pipeline.

Crops had been pressed down by soil and landslides have occurred on cultivated fields near the Myanmar-China oil pipeline in the Ngape township of the Magwe Region due to extension of the oil pipeline. Aggrieved farmers said that they had not received compensation even though they have been waiting for more than five years.

“More than 10 letters have been sent and letters have also reached Nay Pyi Taw. We sent letters twice to the current government. We have also been called to meet officials once. But, nothing has come out of it,” said farmer Daw Hla Yi from Gote Kyi village in Ngape township.

Another farmer, U Yan Naung Tun said although the Magwe Region land and crops compensation group, township land records department and ward and village land committee made a field trip in February 2012 they did not visit the areas where the crop was damaged.

“Two years after this field trip, we were given money as assistance for our damages. But we don’t want assistance money, we want full compensation. They have to compensate us at these rates – K20,000 for a coffee plant and K120,000 for a lime plant or lemon plant and so on. But they just paid us K3.99 million per acre. Now, some places cannot be cultivated anymore,” said Daw War War from Gote Kyi village.

The Myanmar-China oil pipeline cuts through plantations and villages in the Magwe Region. (Nay Aung/The Myanmar Times)

Although some financial assistance had been given on June 10, 2016 for damages suffered, 7 farmers refused to accept this assistance as they claim it was 10 times less than the amount of damages suffered.

One of the farmers, Daw Hla Yi, said some of the farmers took the money as they had no choice because they were flat broke.

The Myanmar-China oil pipeline cuts through the following plantations; the Gote Kyi, Bone Baw, Soon Tet, Lin Tet and Pa Bae villages in Ngape township.

U Nay Myo Kyaw, a minister in the Mandalay regional government, told The Myanmar Times that the regional government should push for compensation and read the farmers reports.

“Whether the amount of compensation will cover the loss or not will depend on how they negotiate. If the farmers are not satisfied with the amount then we [the government] have a duty to urge the compensation team. Myanmar and Chinese governments signed an MoU for compensation. The compensation team has a responsibility,” he said.

Source – mmtimes

FOR THE BEST GLOBAL HOTEL & FLIGHT BOOKINGS

Suu Kyi denies ethnic cleansing of #Myanmar minority

Aung San Suu Kyi has denied the ethnic cleansing of Myanmar’s Muslim minority, speaking to the BBC after the UN rights council agreed to investigate allegations against the army.

“I don’t think there is ethnic cleansing going on. I think ethnic cleansing is too strong an expression to use for what is happening,” Suu Kyi said in the interview televised on Wednesday.

Her one-year-old government has faced international condemnation for the treatment of the country’s Rohingya Muslims, who are regarded as illegal immigrants from Bangladesh, prompting the UN rights council to agree last month to launch an investigation into violations against the minority.

The Geneva-based body’s fact-finding mission will examine allegations of torture, murder and rape allegedly committed by troops.

Suu Kyi told the BBC there was “a lot of hostility” in the western state of Rakhine, where more than one million Rohingya live.

“It is Muslims killing Muslims, as well, if they think they are collaborating with authorities.

“It is not just a matter of ethnic cleansing. It is a matter of people on different sides of a divide, and this divide we are trying to close up. As best as possible and not to widen it further,” she said.

Myanmar has launched its own domestic probe into possible crimes in Rahkine and appointed former UN chief Kofi Annan to head a commission tasked with healing long-simmering divisions between Buddhists and Muslims.

Suu Kyi said the army was “not free to rape, pillage and torture”.

“They are free to go in and fight. And of course, that is in the constitution… Military matters are to be left to the army,” she said, adding that she aimed to amend the constitution.

Almost 75,000 people from the persecuted minority have escaped to Bangladesh after the military launched operations in the north of Rakhine state to find Rohingya militants who raided police border posts in October.

Rohingya who have fled have told the UN rights office that soldiers executed babies in front of their mothers, as part of campaign to terrorise the Muslim minority.

“If they come back they will be safe,” said Suu Kyi, adding that those who fled were welcome to return.

Her National League for Democracy (NLD) faced the ballot box on Saturday in by-elections across the country, winning a string of seats but losing out in ethnic minority areas including Rakhine.

The NLD came to power in a historic 2015 election which ended half a century of brutal military rule, but there has been disillusionment with the administration as it struggles to push through reforms and ease unrest.

FOR THE BEST GLOBAL HOTEL & FLIGHT BOOKINGS

 

Top Myanmar retailer to launch e-wallet with Thai technology

AS MYANMAR has enjoyed a dramatic increase in the number of data users over the past three years, its leading retailer City Mart Holding Ltd plans to launch its first e-wallet service in mid-2017 with the support of T2P, a Thai FinTech company belonging to Benjachinda Holding.

Win Win Tint, founder and managing director of CMHL, said in an exclusive interview that the firms recently signed a memorandum of understanding to form a joint venture. According to the pact, T2P will share its experience in developing both fintech and customer-loyalty program of the retailer by providing the technology to run its loyalty and online wallet platform.

She said the joint venture’s first product would be City Rewards, a loyalty program-me that will give customers various rewards when they shop at the retailer’s stores. Bundled together is an online wallet which users can use to make payments at its online and offline stores.

According to Win Win Tint, the retailer picked the Thai firm as its partner because only a few players have expertise in both fintech |and loyalty programmes, which fits with its plans.

“We will be launching our online store by the middle of this year to give customers more options for their shopping … We will start with our consumers first to make their shopping experience in our stores more convenient,” she said.

She promised to continue exploring ways to make consumers’ shopping experience as seamless and convenient as possible by ensuring they get the best value and variety. 

“Our efforts with T2P will enable us to introduce new services such as online shopping and self check-out,” she said.

According to the Ministry of Transport and Communications, the number of data users in Myanmar has risen 20 fold – from 2 per cent to more than 40 per cent – since the nation allowed foreign telecom operators to enter in 2014. 

But the World Bank estimates that less than 20 per cent of the population uses formal financial services.

Yet, as one of the 50th most powerful business women in Asia ranked by Forbes in 2015, Win Win Tint is pretty bullish about the transformation from a cash-dominated society to a cashless one.

“More than 99 per cent of our store transactions are in cash. We do not expect a quick change in the short run but remain ambitious about the mobile wallet,” she said.

“To the general consumer, cash is very convenient and ubiquitous, hence it will take time for the usage of e-wallets to grow. Therefore, we are bundling it with the rewards program for that to gain faster traction,” she added.

Founded in 1996, the retailer has more than 200 outlets across the nation, including fast-food restaurants, bookstores, convenience stores and supermarkets. 

Recently, the retailer opened its 22nd supermarket in Insein township in Yangon. 

According to the International Finance Corporation (IFC), Myanmar’s US$12-billion (Bt420 billion) retail sector is currently predominantly informal, with formal retailers holding less than 10 per cent of the market. However, economic growth and the opening up of the market after years of isolation have boosted demand for consumer goods. 

Last year, CMHL received a $25-million loan from the IFC to support its expansion plans, which aim to increase its purchases from domestic suppliers by six fold, reaching around $150 million by 2021, and create nearly 4,000 new jobs – half of which will be for women. The retailer currently employs more than 8,000 staff. 

 Source: TheNation

Rolling down the Mekong river

The strong currents of Mekong River and the position of rocky rapids create a large sand dune in the middle of the river.

A medical doctor in Chiang Rai uses his drone to show how the Mekong will be changed forever if the plan to blast the rapids becomes a reality

The rocky shoals and rapids of the Mekong River are magnificent when viewed close to, but seen from the air they make a meaningful statement about the greatness of this river that rises in the Tibetan plateau and winds its way through China, Myanmar, Laos, Thailand, Cambodia and Vietnam.

It is this statement that medical doctor and keen environmentalist Sommai Eiawpradit is attempting to spread as he continues his photography of the mighty Mekong from the perspective of a drone and shares them with hundreds of others on the social media. 

“My intention is to let other people see what I have photographed with my drone so they realise how beautiful and significant the Mekong River rapids really are,” says Sommai, a medical professional in Chiang Rai’s Chiang Khong District. 

The rocky rapids act as a natural barrier to slow the river current and provide a habitat for fish.

Sommai has always spent his time off capturing shots of his adopted town. And two years ago, when drone technology became cheaper and more readily available, he was quick to learn how to use one. 

The technology, he says, has greatly improved his photographic skills and the resulting images can be used to campaign against the rapids blasting plan.

“I want the authorities to reconsider their decision to demolish the rapids, because once the rapids are gone, they can never be brought back. They will be gone forever together with the ecosystem and the way of life of the people who depend on them,” he says. 

Sommai uses his private Facebook wall to share his photos both with his friends and the general public. The pictures have been well received by netizens and have been shared more than 349 times.

He has also given the collection to the local environmentalist group “Hak Chiang Khong” (“Love Chiang Khong”) for use in their campaign. 

“This is only the first set of pictures of the Mekong River rapids. I am planning to use the drone to capture photos of all the rapids and features of the river in all three districts of Chiang Rai through which the Mekong flows. This month, I will send the drone up above the Kaeng Pha Dai rapids in Wiang Kaen District, which is also on the demolition list,” he says. 

Sommai admits he is against the river navigation route improvement plan as a whole, pointing out that the profits earned from the project cannot compare to the losses that will be suffered by the local people and ecosystem of Mekong River once the project is completed.

“Removing the rapids means the complex ecosystem and traditional livelihood of the local people will disappear too. This is the most prominent side effect of this controversial project,” he explains

“With the rapids are gone, the river will lose its beauty forever. The river channel will also change and the boundary between Thailand and Laos will move. From the images the drone has taken, it’s obvious the border change will not be in our favour.

“Before making a decision to change the river forever, the governments of the countries through which the Mekong River flows should consider other options for transportation such as roads and railway. 

“Of course river transportation is the cheapest option for Chinese merchants to transport their goods to the countries downstream but the damages from the project will be very expensive for the people, who depend on this river too,” he warns.

Photo’s/Sommai Eiawpradit

Source: TheNation

The healthy ecosystem on the sand dune of Khon Phee Lhong rapid in Mekong River is a perfect breeding ground for birds and the habitat of many animal species.

Myanmar (Burma) – The land that time forgot

Once the bustling imperial capital of Burmese Kingdoms, the ancient city of Inwa is now in ruins but still a great place to spend a day

Perched on the left bank of the Ayeyarwaddy River in Upper Myanmar, Inwa – or Angwa as it is known in Thai – must surely be the best-known ancient kingdom among Thais. The imperial capital of successive Burmese kingdoms from the 14th to 19th centuries, it was from Inwa that King Hsinbyushin began a two-year assault on Ayutthaya in 1765 that resulted in the collapse of Siam’s capital. Less than 70 years later Angwa was completely destroyed in turn, the victim of several earthquakes. As Maroon 5 put it, “Nothing lasts forever”. 

Ravaged by war and tremors, Inwa today is scarcely larger than a rural backwater dotted with ruins, monastic buildings and stupas. Daytrippers travel from Mandalay to the old city, enjoying a trip back in time as they try to imagine the city’s previous grandeur from the remains of its watchtowers, city walls, monasteries and temples.

“Visitors jump into horse-drawn carts or make their own way around the old city,” says Khin, my local guide in Inwa. 

I opt for the horse and cart and immediately feel worlds apart from the hustle and bustle of Mandalay. Myanmar’s countryside is charming with rice paddy fields and banana plantations stretching as far as the eye can see. The ruins of stupas and abandoned monasteries roll along like a slide show. The driver slows the horses as we arrive in Inwa proper and pulls over in front of a wooden building with huge posts and a multi-tiered roof.

“This is Bagaya Monastery. The entire building is made of teak,” begins Khin, as we head towards the entrance. “It was a Buddhist school during the Inwa period.”

The grand monastery boasts 267 teak posts, the guide continues, the largest of which is almost three metres in circumference. Each post is 20 metres high. Undoubtedly Bagaya Monastery is the pride of Inwa and I find it easy to imagine hundreds of monks and novices praying here. The monastery today is shaky and worn but it’s still beautiful and worth a visit. 

The Burmese might have been ruthless as they marched from Inwa to Ayutthaya but they also had a strong artistic side, particularly when it came to woodwork. The entire monastery is decorated with figurines, arabesques and reliefs of birds and animals as well as small pillars all beautifully carved in teak.

From Bagaya Monastery, we ask the cart driver where we can stop for lunch and meet some residents. He pulls over at a roadside restaurant, where several locals, their faces covered with Thanaka, are tucking into noodles, sweet tea and bean cake. They welcome us with smiles and friendly nods.

Within walking distance from the restaurant are Yadana Hsimi Pagodas. Here, under the canopy of a huge Banyan tree is a beautiful Buddha image surrounded by what remains of a group of small stupas and what remains of a prayer hall. 

“The temple was reduced to rubble by the 1839 earthquakes,” says the local guide. “Only some beautiful stone lintels and Buddha images survived around the ruins.”

Back in our personal carriage, the driver guides his horse through peanut and banana plantations. Some farmers are busy clearing weeds, while others balance earthen pots and basketful of grass on their heads.

Finally, we arrive at Maha Aung Mye Bon Zan Monastery. Unlike Bagaya Monastery, where every single piece is made of wood, this huge Buddhist temple is built of stucco-covered brick. The monastery survived the earthquake in 1839 but time has taken its toll on the huge temple. Yet it is attractive in a strange way and in summer, the guide says, its ultra-thick walls provide a welcome respite from the midday sun. 

In fact, Maha Aung Mye Bon Zan Monastery is a very rare survivor of the Inwa era. Just to the East of the main hall is a group of whitewashed pagodas with shimmering gilded umbrellas. Behind them is the lookout for Sagaing – another ancient capital nestled on the Ayeyarwaddy River.

In terms of exotic glamour, Inwa is truly a city lost in the mists of time. 

Some visitors don’t take the horse carriage at all, but prefer to travel on foot. With map in hand and plenty of time, they explore the ancient city on foot. Moving at a slower pace, they enjoy a much more accurate experience of where they are: In essence, the middle of nowhere.

IF YOU GO

Bangkok Airways and AirAsia operate flights between Bangkok and Mandalay. Inwa is about 30 kilometres south of Mandalay.

Sourse: TheNation

We take you to the Pearls of the Orient

CAMBODIA

Siem Reap – Here you will find influences of French colonial and Chinese architecture.

With the Tuk Tuk service to the ancient city of Angkor Thom, to visit Angkor Ta Prohm, one of the famous temples of Cambodia. In the afternoon with a Jeep to the Angkor Wat Temple.

MYANMAR

Mandalay – After arriving in Mandalay you go to Mandalay Hill for magnificent views over the city and Irrawaddy River. In the afternoon you visit Amarapura, ‘the city of immortality. ” During a sunset cruise on Lake Taungthaman overlooking the U Bein Bridge.

Bagan – Departure to Bagan, where you will visit in the afternoon with a horse and carriage the old town. You will enjoy the sunset and an unforgettable view from O Gyan Pe Hill.

Air Balloon Flight Tour by balloon over temples studded plains of Bagan and the Irrawaddy River. In the afternoon, with small local boats a mini cruise on the Irrawaddy River.

VIETNAM

Hanoi – Let you in Vietnam be surprised by culinary delights, local culture and unique means of transport. In Hanoi visit the main attractions of this fascinating city. Visit the Hoa Lo Prison (known as the “Hanoi Hilton”).

Cruise through Halong Bay city tour Hanoi. In the afternoon, you will embark on a 3-day luxury cruise through one of the most beautiful natural bays in the world. Halong Bay is famous for its thousands of small islands and colorful floating villages in an emerald green sea.

Myanmar’s ‘smiling’ Irrawaddy dolphins on brink of extinction

This handout from the Wildlife Conservation Society taken on September 9, 2016 shows an Irrawaddy dolphin jumping in the Irrawaddy river near Mandalay. / AFP PHOTO / Wildlife Conservation Society

SIN KYUN, Myanmar – Tears fill Maung Lay’s eyes as he describes losing the dolphin he knew since his childhood, the latest casualty of a battle against pollution and electrofishing that may see the species disappear in Myanmar.

Loved for generations for corralling the catch into fishermen’s nets, the ‘smiling’ Irrawaddy dolphins are being killed in record numbers by rogue gangs who use car batteries to stun aquatic life.

The illegal technique now threatens to wipe out the dolphins and the tourist bonanza they promise.

Maung Lay’s dolphin, known as Thar Gyi Ma, was found washed up on the banks of the river in November. When locals cut her body open, they found she was pregnant.

“She is irreplaceable because she’s like my own parents. I’m heartbroken,” the 55-year-old told AFP inside his bamboo hut, in a small village a few hours by boat from Mandalay.

“I laid wreaths and flowers for her by the river.”

Irrawaddy dolphins can be found in rivers, lakes and seas across southern Asia, from the northwest Bay of Bengal, in India, to the south of Indonesia.

On this stretch of river in Myanmar the animals have developed a deep bond with local fishermen, who they work with in a generations-old partnership that has become the stuff of local folklore.

With careful choreography, locals call the animals using a throaty purr, splashing their oars and tapping on the side of the boat.

The dolphins signal they are ready to begin with a flick of a fin, before driving the fish towards the fishermen’s boats where they are scooped up by waiting nets.

Maung Lay said he had spent more than 30 years fishing with one group of seven dolphins, led by Thar Gyi Ma.

“I’m sorry for the great loss because she’s the leader of her group,” he said sorrowfully. “The others are not skilled like her.”

Record deaths 

In neighbouring Laos, the Irrawaddy dolphin was declared “functionally extinct” by the World Wildlife Fund in October 2016 after just three individuals were counted during their latest survey.

“There is now little hope for a reversal of the situation,” the WWF said.

In Myanmar, officials say there only 62 Irrawaddy dolphin are thought to be left, after a record three were killed last year.

“We lost the highest number of dolphins (in 2016),” said Jaw Kar, the deputy head of Mandalay’s fishery department during a recent visit by AFP.

He blamed pollution from mining upriver in Kachin state, where chemical-heavy gold prospecting has boomed since the former military government stepped down in 2011.

Run-off from agricultural fertilizers is also thought to be poisoning the water.

But fishermen say the greatest danger comes from rogue gangs who are wiping out river life in their quest for easy money.

Initially these electro-fisherman used small batteries attached to wire wound around bamboo poles to shock fish within a close radius, a cheap and effective way to bolster their catch.

Now locals say they have moved on to using car batteries, high-voltage transformers and trawling nets.

“Even a big buffalo couldn’t stand such an electric shock,” said fisherman Thein San Min, 26, who lives in another village on the river’s edge.

Electrofishing around Mandalay is punishable by up to three years in jail and a fine of 200,000 kyat ($150) — a small fortune for local villagers.

But conservationists say there is little they can do to stop the fishing gangs, who attack anyone daring to venture into their territory.

Villagers refused to take AFP to where the electrofishermen live citing safety concerns.

Broken bond 

For Irrawaddy locals, losing the dolphins is not just about destroying traditions from their past — it threatens their future.

With fish stocks plummeting there are hopes ecotourism will prove a lifeline to bolster meagre incomes.

Visitor numbers have soared in the five years since the end of military rule and authorities are hoping to lure as many as 7.5 million people a year to Myanmar by 2019.

Wildlife Conservation Society ecotourism manager Thant Zin has set up a dolphin-watching programme to attract tourists, which he believes will incentivise locals to protect the animals and their habitat.

He is training villagers from a string of Irrawaddy villages in cooking, hospitality and environmentally responsible guiding.

“This is a very important business for the community,” he said.

But some fishermen fear the electrofishing gangs may already have destroyed the special bond that existed between man and beast.

“Dolphins in the Irrawaddy river used to appear wherever we called them,” Thein San Min said.

“We worry because they won’t come close to us, although we coax them. It seems now we will have to watch them from far away.”

Source: TheNation

What are the tourism trends in 2017?

In January begins the general orientation on the next holiday trips. Fairs help choose, trend watchers look in their crystal ball.

Just about any travel magazine and every holiday site sins on their crystal ball look: what destinations are hot in the New Year, the most attention the list of Lonely Planet, which publishes an annual top 10 countries list, cities and regions.

The top 10 countries

1/ Canada. The country exist 150 years. More importantly, it is full of natural beauty and friendly people.

2/ Colombia. Hooray, it is peace and everyone is welcome.

3 / Finland. Another anniversary. The 100th anniversary is celebrated with exhibitions, cooking feasts and, yes, sauna evenings.

4/ Dominica, Go before it’s too late: the ‘last unspoiled Caribbean island’ come in 2018 the first resorts.

5/ Nepal. Earthquakes have quite thrown back the country. Every tourist who comes, indirectly helping in the reconstruction efforts.

6/ Bermuda. Pink beaches appeal to the imagination, like the fact that the America’s Cup sailing race calling the British island in June.

7/ Mongolia. A new airport, better infrastructure and new hotels: Mongolia is gradually Tourism proof.

8/ Oman. Trump Arabia is becoming more accessible thanks to new hotels and attractions. Eye-catcher is the Musandam peninsula, with fjord-like inlets.

9/ Myanmar. The mysterious land of Southeast Asia has more temples than flats. Upcoming travel destination.

10/ Ethiopia. Exotic, overwhelming and now more accessible thanks to new flight connections.

 

Myanmar boosts incentives for infra development, labour-intensive projects

An advertising billboard of Ooredoo in Yangon. Foreign investment, particularly in the telecoms sector, continues to flow into Myanmar.

Myanmar boosts incentives for infra development, labour-intensive projects

THE MYANMAR Investment Commission, a government body to facilitate both foreign and local investment, has planned plans to provide more incentives for investors in the two areas that are crucial to the country’s growth, labour-intensive industries and infrastructure development, a senior official said.

According to Aung Naing Oo, secretary of Myanmar Investment Commission and director general of the Directorate of Investment and Company Administration, the MIC will also encourage agricultural-based industries, aside from its two priorities.

He also explained about the two things MIC would look at before allowing any investor to do business in Myanmar.However, he said proposed investments had to meet standards. “First, any investment must be in line with our existing laws and regulations. Second, we prefer quality investments rather than trying to improve on the quantity level. For example, if a mega project may bring negative impacts to the country, we do not think it is a good investment,” he said.


LEDSIGNZ

Other things that the government investment agency takes into consideration include a project’s prospects for profitability, how it can improve the national income and revenue, while creating job opportunities. The MIC also considers how a proposed project sits in the international and local market situation, generates demand for domestic consumption, makes use of innovation, and results in the application of relevant technology. A project must also have arrangements to minimize environmental and social impacts.

 During the new government’s term,From April to early October, the MIC has approved 45 foreign investments totaling more than $400 million and 22 citizen investment projects worth about $100 million.

and Ks170 billion.By August 31, Myanmar had approved 1,131 firms from 45 countries for investments of $64.4 billion. China stands as the top investor with 141 firms that have committed to invest $18.1 billion, followed by Singapore (214 firms, $13.5 billion) and Thailand (98 firms, $10.6 billion). Among the Top 10 investors are Hong Kong, the United Kingdom, South Korea, Malaysia, the Netherlands, India and Vietnam.

Oil and gas, power, and manufacturing are the sectors in which Myanmar receives the most FDI. These three sectors are followed by transport and communications, real estate, mining, hotels and tourism, livestock and fisheries, agriculture, industrial estate, construction, and other services.

By September, the commission has allowed more than 46,000 local investors and over 5,000 foreign investors to do business. To cope with the increasing activity, MIC staffing was increased from 200 to more than 500 staff during the administration of President Thein Sein.

With the opening of its regional office in Hpa-An township in Kayin state on October 6, MIC now has nine branches, and two more branches will be opened by the end of this year, in the Bago and Magway regions.

“We hope to open branches in every state and region by 2017. If we can expand our network by opening new branches, things will get easier when we do investigation on project sites,” Aung Naing Oo said. He said he was confident that the MIC has the capacity to keep away dirty money.


LEDSIGNZ

“It is impossible to invest in Myanmar with black money, because we usually check the financial documents of all the companies, whether they register under the Foreign Investment Law or with Myanmar Citizens Investment Law,” he said.

Applicants’ finance is thoroughly checked, starting with their bank statements. Only transactions through banks are accepted, and this is under the monitoring of the Central Bank of Myanmar.

“It is really hard to transact black money via recognised banks.”

For investment by local entities, MIC cooperates with the Internal Revenue Department to check if the applicants pay taxes. The commission also has to report to the Home Affairs Ministry if a proposed investment exceeds 100 million kyat (Bt2.6 million), in case the ministry wants to check if money laundering is involved.

“Every investor has to attach necessary documents whenever they submit investment proposal. For example, if an investor submits a proposal to invest 10 million kyat but his bank account shows he possesses less than the proposed budget, we usually investigate how he will earn the remaining amount of money. This may involve a loan from an international organisation or a commercial bank and we may assess how he will manage to pay the interest etc,” Aung Naing Oo said.

Scrutiny in 2 steps

He said a project is scrutinised in two steps. “First, by MIC staff and secondly by the investment proposals assessment committee, which consists of high-ranking officials from relevant departments including ministries of commerce, labour, industry, construction, forestry and environmental conservation, the customs department, the internal revenue department, etc.” he said

“They also review the projects from their own perspective. If all of us are not satisfied with the proposal, we usually ask the investors for clarification and some necessary documents. Only when we all are happy, we will allow them to do business in Myanmar,” he said.

Aung Niang Oo noted that Myanmar welcomes all kinds of investment proposals. But the MIC may be unfamiliar with some projects and has to seek opinions from ministries, which sometimes lead to delays in the approval process.

Issuing permits is merely part of the MIC’s responsibilities. After issuing the permits, it has to check if the investors have followed their commitments in the proposals. This monitoring is the most exhausting process, the official said.

“Nowadays, we have more things to do than ever. We also have to help investors with their exports and imports after they receive the permits. So, our staff are usually super busy. That checking is usually carried out on weekends,” he said.

An investor who does not honour their commitments is liable to four types of penalties. First, a warning will be issued, then incentives like a tax holiday could be revoked. In some cases, a company’s operations will be suspended until the investors can satisfy the MIC. Lastly, a company can be blacklisted.

During the previous government term, two Korean garment factories were forced to shut down businesses for failing to follow the rules.

Source: TheNation