4 countries involved in construction projects

The country is now in discussions for various construction projects, having already signed MoUs with those countries.

“Japan, South Korea, Thailand and Vietnam have already signed MoUs with Myanmar to cooperate on such construction projects, as well as in the production of materials required for the projects. But discussions on the cooperation are still under way,” said the MCA’s Thar Htay.

A delegation from the MCA will visit Japan early next year under the Myanmar-Japan cooperation programme to study the construction process for high-rise buildings. Delegations from those countries recently paid a visit to the Ayeyar Won and Yadana high-rise building projects in Yangon.

“The pre-cast system is widely used in the construction of high-rise buildings. To use this method, we must produce the equipment required for that system. According to the MoU, we will cooperate in the production of the equipment. That discussion is now under way,” Thar Htay added.

 

KIA official to attend ceasefire talks in Thailand

Maj-General Gwan Maw, deputy chief of staff of the Kachin Independence Army (KIA), will leave for Thailand to attend a meeting of Nationwide Ceasefire Coordination Team formed during the Laiza meeting of ethnic armed organisations, according to Lamaing Gwan Jar of the Peace Coordination Group.

“Maj-Gen Gwan Maw is going to attend the meeting in Thailand. The technical task force from Myitkyina will accompany the deputy chief of staff. His visa will be available [yesterday or today]. The deputy chief of staff will attend the meeting in Thailand with the 14 team members formed from the Laiza conference,” said Lamaing Gwan Jar, noting that the first-ever visit to Yangon by a top KIA official is a positive sign of improving relations between the government and the ethnic armed group.

Regarding the visit of the deputy chief of staff to Yangon, inquiries were made to an official of the Myanmar Peace Centre (MPC). The official confirmed that the KIA leader would arrive in Yangon, but there was no plan to hold discussions with the MPC.

 

Auto-insurance system to be revamped

The comprehensive auto insurance system currently used by insurance companies will be replaced with a system practised in other countries, said the deputy minister of finance and revenue.

The “knock-for-knock agreement” will replace the existing system and will be drafted by First National Insurance Public Co. After the approval is released, the company will edit the agreement, said Maung Maung Thein, noting that the new system is a contract between insurance companies that many other countries use.

“The nature of the contract is that when there is a motor accident, there is no differentiation between who is right and wrong. Each company pays the losses for the vehicle of their clients,” he explained.

“If there is a motor accident between a car insured at Company A and another car insured at Company B, it could be the fault of the driver from the A side. Normally, A would have to pay for the losses. If the driver from the B side is wrong, B would have to pay for the losses to A. However, in the knock-for-knock agreement, each company pays the losses for the cars insured at their companies, no matter who is wrong…. They don’t need to pay the losses for the other side.”