Week in Review: Myanmar

 

Deputy chief director Win Thaw of the central bank’s foreign currency department says an investigation has been launched into the Pizza Company’s practice of charging |customers in dollars or the equivalent in kyats.

The Pizza Company and its neighbour Swensen’s, both US-based chains, announced on August 17 that they would charge customers in dollars or the current equivalent in kyats.

“We will meet the business to ask how are they managing the foreign currency by charging dollars for daily consumables and what they are using the dollars for, especially at a time when even government departments have been strictly told to not use dollars. We will find out why,” he said. 

Both stores are run by Express Food Group Myanmar, a member of the RMA Group, which has been in Myanmar since 2012 and sells Ford, Jaguar and Land Rover vehicles and parts as a partner of the Capital Automotive Ltd.

 

Kyat hits new low

The Myanmar currency fell further to a new low, at 1,285 per US dollar on Friday. It has weakened by more than 25 per cent year to date.

 

App for blood donors

Students from Yangon Technological University have |developed a mobile phone application to search for blood donors. 

Phyo Min Thu and Ye Min Htut, both sophomores, say the software available for Android and Apple phones, provides information about registered donors. They can be located using Google Earth, when there is an urgent need for blood donation. 

The service is currently only being used in the Yangon Region. 

 

China proposes limited yuan transactions 

China has proposed the use of yuan for transactions within the proposed Muse-Ruili economic cooperation zone. 

Chinese Ambassador to Myanmar Hong Liang reportedly said the zone could serve as the distribution centre of Myanmar products to other countries.

However, Commerce Minister Win Myint said Hong Liang made the proposal during a discussion which dealt with Chinese participation in flood relief and rehabilitation for Myanmar. They also discussed ways to improve agricultural exports and cut down illegal trade.

 

120 political prisoners still in jail despite amnesty

Up to 120 political prisoners are still in jail, while 448 activists are awaiting trial despite a presidential pardon, according to the Assistance Associa-tion for Political Prisoners (AAPP).

The latest report said that 16 |people were arrested and charged, 15 indicted, 21 sentenced and 17 released in July. The Ministry of Information announced on July 30 that 6,966 prisoners were released, including 210 foreign detainees, in the first presidential amnesty since October 2014. According to AAPP, only 13 political prisoners were included in the release.

 

IFC loan to bank

IFC is providing a US$7 million |convertible loan to Myanmar Oriental Bank Ltd to help the lender expand financing for small and medium enterprises in urgent need of capital to grow their businesses and create jobs. 

Its long-term financing is aimed to help Myanmar Oriental Bank move closer toward its goal of providing more than $200 million in loans to small and medium enterprises by 2019. More than half of the smaller businesses in the country do not have bank accounts.

 

Carlsberg in Mandalay soon 

Myanmar Carlsberg appointed Mandalay Kudos Co Ltd and Lucky Two Elephant as distributors of its beer in the major cities of Mandalay and Monywa. Tuborg and Yoma beer brand, which is tailored for Myanmar consumers, as well as Carlsberg will be available for the first time for retail in these cities. Its brewery was inaugurated in May.

 

Jetty project opposed 

Residents of Mon State voiced opposition to a gravel production and jetty project of Long Life Aggregate Mining (LLAM) Co Ltd.

With a permit from the Myanmar Investment Commission, LLAM Co submitted a proposal to carry out gravel production on its 225 acres of land within the Kalarma mountain area. The 35.55-acre jetty project is located in Kawkayin village on the bank of the Thanlwin River. The company will ship its gravel to other regions and states via the jetty. The locals fear that the project would harm their farmlands and water sources. 

 

Shwe Mann snubs USDP bid 

Lower House Speaker Thura Shwe Mann snubbed a motion by an MP from the Union Solidarity and Development Party (USDP). The MP wanted to suspend the Lower House session, saying some MPs could not attend due to flooding and preparation for the November 8 election.

“As the Speaker, I must say any representative who needs to be away to take care of flood-hit people and do campaign work can request leave,” he said. Shwe Mann was removed as USDP chairman on August 13. 

 

NLD choices defended

National League for Democracy leader Aung San Suu Kyi clarified that the party gave priority to long-time members, over other potential |candidates, including 88 Generation Open Society representatives.

In her interview with Radio Free Asia, she said more than 4,000 people had applied to become NLD candidates, and some 1,138 had been shortlisted. “There are many qualified people in our party. Many of them were also left out. Not only those from the 88, but also many from the party have not been selected,” she said.