South East Asia is a miracle of modernization. In the course of a few generations, the region has experienced startling change. Singapore makes parts of the United States look like the Third World; you can barely turn around in Thailand without bumping into a convenience store or a car-parts factory. Malaysia, too, has raised living standards dramatically. Over the past fifteen years, even former laggards like Vietnam and Cambodia have managed to get into the act.
There has been one particularly glaring exception to this pattern of growing prosperity: Burma (also known as Myanmar). For most of the past half-century, the country of fifty million people has been sinking steadily deeper into poverty and stagnation. The generals who seized power in 1962 took what had been one of the region’s engines of growth and drove it into the ground. (Courtesy of The National Interest)
April 28, 2016
Russian Defense Minister meets with Myanmar’s Defense Minister Sein Win
Bilateral cooperation between Russia and Myanmar is developing dynamically, especially in the naval field, Russian Defense Minister Sergey Shoigu said on Tuesday, 26 April, at a meeting with Myanmar’s Defense Minister Sein Win, according to a report by the TASS news agency.
“During nearly 70 years of relations Russia and Myanmar have established strong friendly ties. The political contacts have become more active in recent years. The bilateral cooperation is developing dynamically, especially in the naval field and culture,” Shoigu said. (Courtesy of Mizzima)
“During nearly 70 years of relations Russia and Myanmar have established strong friendly ties. The political contacts have become more active in recent years. The bilateral cooperation is developing dynamically, especially in the naval field and culture,” Shoigu said. (Courtesy of Mizzima)
Shwe Mann Hits Back against USDP Expulsion
Former Union Parliament Speaker Thura U Shwe Mann has come out swinging against his expulsion from the Union Solidarity and Development Party, telling a press conference on Wednesday afternoon that he had acted in the public interest by collaborating with the new government.
On April 22, Shwe Mann and 16 other members were kicked out of the former ruling party after a vote by the USDP’s central executive committee held at the party’s Nay Pyi Taw headquarters. Those expelled had taken roles in the new government, including new ministers Thura U Aung Ko and U Thein Swe, along with several members of the Legal Affairs and Special Cases Commission, of which Shwe Mann is the chair.
NLD leader Daw Aung San Suu Kyi had invited Shwe Mann and several of his allies to staff the commission soon after lawmakers from the new parliament took their seats at the end of January.
Speaking to a Nay Pyi Taw press conference at 2pm, Shwe Mann told reporters that the decision of he and his supporters to take a role in the commission under the new National League for Democracy government was not intended to antagonise former President U Thein Sein, who resumed his formal duties as USDP chairman this month. (Courtesy of Frontier Myanmar)
On April 22, Shwe Mann and 16 other members were kicked out of the former ruling party after a vote by the USDP’s central executive committee held at the party’s Nay Pyi Taw headquarters. Those expelled had taken roles in the new government, including new ministers Thura U Aung Ko and U Thein Swe, along with several members of the Legal Affairs and Special Cases Commission, of which Shwe Mann is the chair.
NLD leader Daw Aung San Suu Kyi had invited Shwe Mann and several of his allies to staff the commission soon after lawmakers from the new parliament took their seats at the end of January.
Speaking to a Nay Pyi Taw press conference at 2pm, Shwe Mann told reporters that the decision of he and his supporters to take a role in the commission under the new National League for Democracy government was not intended to antagonise former President U Thein Sein, who resumed his formal duties as USDP chairman this month. (Courtesy of Frontier Myanmar)
Myanmar Muslim leader urges calm amid ‘incitement’ by Buddhist monk
One of Myanmar’s top Muslim leaders urged calm Tuesday, after he accused a militia-style monk and his disciples of trying to incite violence by building an unauthorized Buddhist structure in the shadow of a mosque in the country’s southeast.
“These are people who want to create an unstable situation [between the majority Buddhists and minority Christians and Muslims],” Tin Maung Than, secretary-general of the country’s official Muslim body, the Islamic Religious Affairs Council Myanmar, told Anadolu Agency by phone Tuesday.
“We request our people not to quarrel with them. We don’t want to see inter-communal violence anymore.”
On Monday evening, powerful Buddhist monk Thu Zana, known as Myaing Gyi Ngu Sayadaw (abbot), and his disciples constructed a stupa — a mound-like or hemispherical structure containing Buddhist relics — in Shwe Gone village in Karen State despite objections from mosque caretakers and regional government officials. (Courtesy of The Muslim News)
“These are people who want to create an unstable situation [between the majority Buddhists and minority Christians and Muslims],” Tin Maung Than, secretary-general of the country’s official Muslim body, the Islamic Religious Affairs Council Myanmar, told Anadolu Agency by phone Tuesday.
“We request our people not to quarrel with them. We don’t want to see inter-communal violence anymore.”
On Monday evening, powerful Buddhist monk Thu Zana, known as Myaing Gyi Ngu Sayadaw (abbot), and his disciples constructed a stupa — a mound-like or hemispherical structure containing Buddhist relics — in Shwe Gone village in Karen State despite objections from mosque caretakers and regional government officials. (Courtesy of The Muslim News)
EU arms embargo extended for one year
The European Union has extended its long-standing arms embargo against Myanmar by one year, after which the decision will be reviewed again.
Arms sanctions would be continued at least until April 30, 2017, the EU said. Under the restrictions it is forbidden for EU countries to sell or export arms and related material, with the exception of non-lethal military equipment, to Myanmar.
The April 21 statement also refers to the ban on sales of “equipment which might be used for internal repression”. Military means are used domestically against Myanmar’s plethora of ethnic armed groups in the world’s longest-running civil wars. During military rule the junta also sent its troops to quell peaceful protests, like the monk-led popular uprising against the military dictatorship in 2007. (Courtesy of Myanmar Times)
Arms sanctions would be continued at least until April 30, 2017, the EU said. Under the restrictions it is forbidden for EU countries to sell or export arms and related material, with the exception of non-lethal military equipment, to Myanmar.
The April 21 statement also refers to the ban on sales of “equipment which might be used for internal repression”. Military means are used domestically against Myanmar’s plethora of ethnic armed groups in the world’s longest-running civil wars. During military rule the junta also sent its troops to quell peaceful protests, like the monk-led popular uprising against the military dictatorship in 2007. (Courtesy of Myanmar Times)
Suu Kyi faces tough task to lift economy
Myanmar's first civilian administration will face the Herculean task of producing economic achievements as the country battles difficult reforms amid a lack of skilled labour, according to Thai academics.
Samarn Laodamrongchai, from Chulalongkorn University's East Asian Studies Institute, said Myanmar's de facto leader Aung San Suu Kyi will focus on the nation's workforce to drive economic prosperity and benefit from the Asean Community over the next five years.
Business sectors in Thailand were likely to benefit from the change in Myanmar, including finance and banking, telecommunications, textiles and garments, hotel and tourism, construction, furniture, and agriculture and fisheries, he told a seminar Tuesday on "Who actually has the power in Myanmar: Aung San Suu Kyi or the military," organised by the institute. (Courtesy of Bangkok Post: News)
Samarn Laodamrongchai, from Chulalongkorn University's East Asian Studies Institute, said Myanmar's de facto leader Aung San Suu Kyi will focus on the nation's workforce to drive economic prosperity and benefit from the Asean Community over the next five years.
Business sectors in Thailand were likely to benefit from the change in Myanmar, including finance and banking, telecommunications, textiles and garments, hotel and tourism, construction, furniture, and agriculture and fisheries, he told a seminar Tuesday on "Who actually has the power in Myanmar: Aung San Suu Kyi or the military," organised by the institute. (Courtesy of Bangkok Post: News)
For investors, Myanmar is still for the brave
The dust has settled in Naypyitaw, where a government led by the National League for Democracy has replaced the quasi-democratic, military-backed regime of President Thein Sein. With some of the political uncertainty about the country's future now shelved and the economy in good shape Myanmar is arguably primed for economic takeoff.
Gross domestic product grew by an annual 7.2% in 2015 and is forecast to achieve 8.4% growth in 2016, the Asian Development Bank estimates. And yet, faced with a myriad of internal challenges after 50 years of military rule, Myanmar remains a frontier market, ripe for pioneering private equity investors but perhaps not for more mainstream investors, however large.
PE firms are starting to make an impact, although challenges remain even for these daring risk-takers. TPG Capital, one of the world's largest PE fund managers, has clinched two sizeable deals in Myanmar, including an investment in early 2014 in Apollo Towers Myanmar, a telecommunications infrastructure provider, and the purchase of 50% of Myanmar Distillery Company, one of the country's largest spirits producers, in December. (Courtesy of Nikkei Asian Review)
Gross domestic product grew by an annual 7.2% in 2015 and is forecast to achieve 8.4% growth in 2016, the Asian Development Bank estimates. And yet, faced with a myriad of internal challenges after 50 years of military rule, Myanmar remains a frontier market, ripe for pioneering private equity investors but perhaps not for more mainstream investors, however large.
PE firms are starting to make an impact, although challenges remain even for these daring risk-takers. TPG Capital, one of the world's largest PE fund managers, has clinched two sizeable deals in Myanmar, including an investment in early 2014 in Apollo Towers Myanmar, a telecommunications infrastructure provider, and the purchase of 50% of Myanmar Distillery Company, one of the country's largest spirits producers, in December. (Courtesy of Nikkei Asian Review)
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