Week in Review: Myanmar
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Preparation for YSX
The Securities and Exchange Commission conducted a survey on public companies’ interest in seeking a listing on the upcoming Yangon Stock Exchange.
It also began scrutinising the |capital of securities companies to see if they are clean.
So far, 57 companies have applied for securities licenses.
The YSX is scheduled to open in December.
Day trip to Myeik allowed
Foreign tourists are allowed to make a day trip to the Myeik |archipelago.
Previously, they were not allowed to enter the area due to a quota system. But only five licensed tour operators can provide the service.
17 ‘inappropriate’ monks fined
Seventeen Buddhist monks in Mawlamyine, Mon State, were fined for inappropriate behaviour.
Three monks were fined for asking for alms and donations improperly, three for riding motorcycles, 10 for driving cars and one for using a teashop.
Monks are fined Ks50,000 (US$39) for a first violation, Ks100,000 for a second violation and Ks150,000 for a third violation, which also results in the seizure of any vehicle they own, their disrobing and legal action.
Only four factories to lay off staff over wage increase
Four factories have issued redundancy notices following the government’s decision to fix the daily minimum wage at Ks600 (US$2.80), according to Myo Aung, the per-manent secretary of the Labour Ministry.
Before the minimum wage was fixed, a large number of factories, mainly those in the garment sector, threatened to shut down. The wage is also expected to hurt factories producing commodities like sandals, umbrellas, jewellery, fishhooks, envelopes, pencils, plastics and wallets.
Rapid deforestation
Myanmar is seeking to join the European Union’s Forest Law of Enforcement, Governance and Trade in a move to end illegal logging.
More than 2.3 million hectares of Myanmar’s forests were cleared between 2002 and 2013, according to activists. In 2013, forest areas shrunk to 16.3 million hectares. Much of the clearance was for rubber and palm oil plantations and to make way for a growing population.
60% of land remains barren
Rice was re-grown on only 40 per cent of flooded agricultural land |covering nearly 364,000 hectares, according to the Myanmar Rice Federation.
A source from the federation said rice may be imported if local production fell short of demand.
Shaky ceasefire deal
Views are split after the |September 9 meeting between ethnic armed groups and President Thein Sein.
Aung Naing Oo from the Myanmar Peace Centre said a ceasefire agreement would be signed in the first week of October.
Chin National Front secretary general Pu Zin Kyone said several ethnic groups were yet to decide whether they would sign the nationwide agreement.
Fighting broke out again between the army and Kachin Independence Army in Kachin State on September 8, following clashes in May and June.
Commander-in-chief in Israel
Commander-in-Chief Senior General Min Aung Hlaing has visited Israel, where he had talks with Israeli Defence Minister Moshe Yaalon.
It was the first goodwill visit to Israel in 60 years.
The senior general assured Yaalon that Myanmar is on the road towards democracy.
Human trafficking cases rise
The number of human trafficking cases continue to rise in Myanmar’s Shan State.
In the first eight months of the year, there were 82 recorded cases throughout Myanmar: 25 in Shan State; 15 in Mandalay Region; 10 in Yangon Region; 10 in Kachin State; six in Bago Region; six in Ayeyawady Region; four in Sagaing Region; two each in Rakhine State, Kayin State and Magway Region; and one in Mon State.
Ceremony to honour Kyaw Thu
An event was held to congratulate Kyaw Thu, chairman of the Free Funeral Service Society, after he received the Ramon Magsaysay Award.
“I was approached in 2013 for the award. I did not expect this award, and it did not motivate my actions,” said Kyaw Thu.
“I was awarded not only because of me, but also because of my staff around the country, who gave their all.”
Insufficient compensation
Villagers forced to abandon their homes due to the Myogyi Dam project have sent a petition to the president and eight other departments, saying they have yet to receive the full amount of compensation for their lands.
The project, which includes a water drainage area of 725 square miles, will irrigate the Meikhtila plain and generate electricity for surrounding parts of Shan State.
