26th May 2012
Vice-President Dr Sai Mauk Kham receives Brazilian Ambassador
NAY PYI TAW, 26 May Vice-President Dr Sai Mauk Kham received Brazilian Ambassador to Myanmar Mr. Jose Carlos da Fonseca Junior at the Credentials Hall of the President Office, here today. They discussed bilateral cooperation in environmental conservation, technical assistance in bio-fuel, science and technology, agriculture and irrigation and mutual cooperation for development.
Also present at the call were Deputy Minister for Foreign Affairs Dr Myo Myint and departmental officials. MNA
Union Minister U Win Tun receives Norwegian guests
NAY PYI TAW, 26 MayMr Steinar R. Paulsen from International Recycling & Sustainable Project of Norway, called on Union Minister for Environmental Conservation and Forestry U Win Tun, on 24 May.
They discussed drafting of environmental conservation projects and implementation and donation of funds. -- MNA
Union EP-2 Minister meets officials of China Southern Power Grid International
NAY PYI TAW, 26 MayUnion Minister for Electric Power No.2 U Khin Maung Soe met Vice- President Mr Zhou Zhizhu and party of China Southern Power Grid International Co Ltd, here, yesterday.
China Southern Power Grid (CSG) Co is an organization that operates power system in southern China. The company has experience in construction of power networks of Laos and Vietnam and keen to construct 500 KV and 230 KV power grids in Myanmar.
They discussed the survey of Shweli (3)- Meiktila 500 KV power grid and Mawlamyine-Ye-Dawei-Myeik (230 KV) power grid projects.MNA
Myanmar, ROK ink MoU on cooperation
YANGON, 26 May Under the Myanmar-Korea Friendship Programme, an MoU on cooperation between Amyotha Hluttaw Education, Health and Culture Committee of Myanmar and the Parliament of the Republic of Korea, was signed here, yesterday.
Chairman of Amyotha Hluttaw Education, Health and Culture Committee Dr Khin Shwe, Chairman of Amyotha Hluttaw Local and International NGOs Committee U Win Naung, Amyotha Hluttaw Farmers and Local and Foreign Workers Affairs Committee and ASEAN Economic Community Committee Dr Myint Kyi, Secretary of Amyotha Hluttaw Public Accounts Committee U Nu, member of National Assembly Republic of Korea Mr Lee Han-sung and officials from the Embassy of the Republic of Korea were present at the event.
Mr Lee explained cooperation between Myanmar and the ROK and with Dr Khin Shwe inked the MoU. Myanmar and the ROK will undertake development works in the sectors of education, health and culture. -- Myanma Alin newspaper
Think Tank of F & R Ministry meets
NAY PYI TAW, 26 MayThe Think Tank of Finance and Revenue Ministry met here today to discuss further actions for integration of foreign exchange rate, opening of joint venture banks in the country and invitation of foreign banks investment, with an address by Union Finance and Revenue Minister U Hla Tun.
Governor of the Central Bank of Myanmar U Than Nyein and consultative team members were present on the occasion.
The Union Minister said it has been nearly two months since the introduction of managed floating exchange rate regime, and with the system the Central Bank of Myanmar is daily issuing reference foreign exchange rate. The Central Bank would adjust the value of Myanmar kyat depending on the financial market with a view to reducing fluctuations in exchange rate.
People are allowed to open accounts in State-run banks freely use the remaining amount in their foreign currency accounts without tax cuts under Instruction No. 9/2012 on 24 April, 2012, which was officially enforced since 1 May, 2012. State-owned banks offer such services as opening accounts and depositing and crediting.
The governor of the Central Bank of Myanmar explained that opening of new foreign currency accounts had been allowed on 17 May, under instruction No. 12/2012, with foreign currency bought at money changer counters of authorized dealer license holder banks, held with FED form and earned as income.
The feasibility committee for opening of joint venture bank was formed on 21 May, 2012 and the committee would study the rules and regulations and procedures necessary, and the risks. The governor then explained the capacity, competitiveness of private banks and further requirements for working as joint- venture.
The meeting came to an end with the suggestions of the consultative tam members.MNA
Mitsui to renew investment in Myanmar
NAY PYI TAW, 26 May Japanese Mitsui & Co Ltd will open its branch office here in coming June.
Executive Chief Representative for Myanmar of Mitsui & Co Ltd Mr Masanari Nagai revealed the conglomerate’s interest to invest more in Myanmar at the meeting with Union Minister for Transport U Nyan Tun Aung, here yesterday morning.
New investments of the company which had the previous experience of investment in Myanmar during late 90s will include transportation and maritime businesses.
The minister invited investment in habour and port development and Dawei, Kyaukpyu and Thilawa Special Economic Zones and proposed joint venture for operating national flag carrier in international water.MNA
Union Energy Minister meets Vice President of Korea Gas Corporation
NAY PYI TAW, 26 May Union Minister for Energy U Than Htay received a delegation led by Vice President Kim Byung-Joo of Korea Gas Corporation here yesterday morning.
The guests enquired potentials for making investments in producing new petroleum products such as Dimethyl Ether (DME) from chemical petroleum-based industries, and bilateral cooperation tasks.
The Union Minister and officials concerned responded that now is the time when the government is striving for development of private sectors in accord with the economic policy, joint ventures could be carried out not only with the Ministry of Energy but with domestic entrepreneurs. Besides, they were informed the possible supply of oil and gas by the ministry for industries.MNA
Myanmar, Japan to cooperate in water quality management
NAY PYI TAW, 26 MayUnion Minister for Environmental Conservation and Forestry U Win Tun received Associate Professor Mr Takeshi Fujino of Department of Environmental Science of Saitama University of Japan, here yesterday afternoon.
They discussed conducting research in marine diversity and cooperation in water quality management. MNA
Union Sports Minister meets President of ASEAN Para Sports Federation and party
NAY PYI TAW, 26 MayChairman of Myanmar National Sports Committee Union Minister for Sports U Tint Hsan received President of ASEAN Para Sports Federation Mr Dato’ Zainal Abidin bin Zarin, Secretary Ms R. Milani Rajasagaran and members of sports organizing committees of the federation, here this afternoon.
At the meeting, they discussed on hosting the 7th ASEAN Para Games after the XXVII SEA Games in 2013.
Also present were Deputy Minister for Sports U Aye Myint Kyu, President of Myanmar Para Sports Federation Maj-Gen Nay Lin and officials. --MNA
Dy Livestock and Fisheries Minister meets TICA’s Deputy DG
NAY PYI TAW, 26 May Deputy Minister for Livestock and Fisheries U Khin Maung Aye met Deputy Director-General Ms. Suchada Thaibunthao of Thai International Development Cooperation Agency (TICA), here on 23 May.
Their meeting concentrated on implementations for meat and fisheries sectors with bilateral cooperation.
TICA is implementing three programmes on development of meat sector in collaboration with the livestock breeding and veterinary department under the Ministry of Livestock and Fisheries, and it has arranged to cooperate in planning for development of fisheries sector.
The deputy minister said that fishermen need to be involve in measures for precaution of natural disasters in the fisheries sector and development of breeding dairy cows in meat sector.MNA
KOICA renovates Yangon (SPEI) clinic
YANGON, 26 MayKorea International Cooperation Agency (KOICA) was presented with a certificate of honour for renovating the clinic of Institute of Sports and Physical Education Institute (SPEI) (Yangon), here, yesterday morning. At the handingover ceremony, KOICA resident representative Mr Shin Man Shik explained on the donation and Ms Eom Hyun Jung spoke on “Improvement of ISPE clinic environment and new education course” and “Korea Oversea Volunteer”.
Afterwards, the resident representative handed over the lists donated by KOICA to principal of the SPEI (Yangon) Director U Tin Win. KOICA renovated the clinic at SPEI and also donated clinical equipment. --MNA
Cold storages in Yangon face power shortage
YANGON, 26 MayFactories in Yangon Region are facing power cuts. There are more than 70 cold storages in Yangon, and 23 are now in operation. It is impossible to operate generators round the clock although they have their own generators. These generators are reserved only for temporary power shortage. The generators consume one barrel of diesel per two hours. Some factories have stopped their operations, and about 10,000 workers there would be likely to become jobless.
It can affect other related businesses. It is known that factory owners will request to Yangon Region Government and Yangon City Electricity Supply Board (YESB) for supply of power at night. --MNA