Myanmar implemented five initiatives that enhanced its business environment. The city of Yangon strengthened construction quality control by imposing stricter qualification requirements for architects and engineers and invested in its water and sanitation infrastructure. Nationally, Myanmar launched an online company registry platform, thereby merging several procedures and reducing the need for in-person interaction. Myanmar also made property registration faster by streamlining deed registration and appraisal. In addition, Myanmar courts started publishing performance measurement reports, and a new company law strengthened minority investor protections by mandating greater disclosure of transactions with interested parties, increasing director liability and requiring greater corporate transparency.

YANGON—Myanmar and South Korea signed five Memorandums of Understanding (MOUs) on financial, trade and investment cooperation as well as infrastructure projects at the Myanmar-Korea Business Forum on Thursday.

Held in Myanmar’s commercial capital, Yangon, the forum was attended by South Korean President Moon Jae-in on the second day of his three-day visit to Myanmar. Moon is promoting his “New Southern Policy” to deepen relations, including economic ties, with Southeast Asian nations.

During Moon’s trip, Myanmar and Korea signed a total of 10 MOUs and a framework agreement, including five MOUs and one agreement in Naypyitaw on Tuesday. These included government-to-government, government-to-business and business-to-business collaborations.

According to the Ministry of Information, the Yangon regional government and KB Kookmin Bank—one of South Korea’s four largest banks—signed an MOU on financial cooperation in the real estate sector. The Korean bank will provide the regional government with financial support to construct affordable housing, according to the agreement.

President Moon Jae-in on Sept. 4 stressed the importance of economic cooperation with Myanmar at a groundbreaking ceremony for an industrial complex and a business forum held in Yangon. At the event themed “Korea and Myanmar, companions of coexist

ence and prosperity,” about 200 members of a Korean economic mission and 250 key ministers from Myanmar including Vice President Myint Swe and businessmen participated.

The industrial complex, a joint project between Korea Land and Housing Corp. and the Myanmar government, will be the first of its kind exclusively for Korean businesses in Myanmar. To cover 2.25 million square meters, the complex is expected to help Korean companies having difficulties advancing into Myanmar due to high land prices and weak infrastructure.

Yangon – The U.S. Embassy announced another step to make travel easier between Myanmar and the United States. Myanmar citizens can now apply for a combined B-1/B-2 visa, which allows travel to the U.S. for both business and/or tourism purposes. ‎The single-entry visa is valid for three months and there is no issuance fee. “Building on the growing travel between our two countries, the U.S. Embassy is now making it easier for visitors from Myanmar to go to the United States,” U.S. Ambassador Scot Marciel said. Travel between the United States and Myanmar has increased greatly in recent years. In 2018, the U.S. Embassy issued almost 14,000 visas to Myanmar citizens, a 40% increase from 2015. In the 2017/2018 school year, over 1,500 Myanmar students studied in the United States, a 16% increase from the previous year.

PHOTOS: SBS News

The latest in the flood situation in southern Myanmar…

• Continuous monsoon rain since the start of the month has resulted to flooding in several areas in Southern Myanmar – Ayeyarwady, Bago, Kayin, Mon, and Tanintharyi.

• According to the Department of Disaster Management, a rain-induced landslide occurred in a village in Paung Township (Mon State) on Friday. Search & Rescue operations has so far recovered 41 dead bodies, and believed another 41 are still missing. Rescued injured residents are immediately sent to hospitals for medical care.

Myanmar’s very own satellite system was successfully launched into orbit on Wednesday after two years of planning. The nation will see improved and faster communications as a result, primarily in far-flung areas.

Arianespace, the French service provider, was able to successfully launch two satellites – the Intelsat 39/ Myanmar Sat 2 and EDRS-C, from the Guiana Space Center, Europe’s spaceport in French Guiana, a French territory in South America.

The Embassy of Myanmar in Washington, DC expresses its deep disappointment on the statement on Myanmar issued by the Second Ministerial to Advance Religious Freedom held in Washington, DC on July 18. Likewise last year, Myanmar was not invited to the meeting and therefore has been denied the chance to apprise the meeting on the true situation on the subjects contained in the statement. The Embassy of Myanmar underscores the rights of freedom of religion the people of Myanmar enjoy under the State Constitution. With regard to the subject of freedom of religion in Myanmar, Madame Sadako Ogata, the Independent Expert of the Commission on Human Rights, who made a fact-fmding mission to Myanmar in November 1990 described in her report to the Commission on Human Rights that “It was further stressed that there was total absence of discrimination based on religion. From the highest ranks of Government service and throughout the ranks of public service, the question of religion simply did not arise. The Independent Expert considers this to be undisputed fact and that Myanmar society may, in that respect, be a model society”. Although Buddhism is the religion of the majority of the people, other religions such as Christianity, Islam, Hinduism and Judaism coexist and flourish in Myanmar.

It is deeply regrettable that a group of people has misled the meeting on the situation of freedom of religion in Myanmar at the time the Government is working tirelessly on interfaith dialogue to promote peace and harmony among different communities in the country. With regard the situation in Rakhine State, it is the priority of the Government of Myanmar to bring peace, stability and development in the Rakhine State.

The Myanmar Government is putting its utmost efforts on repatriation of displaced persons from Rakhine State. Myanmar has signed Agreements with Bangladesh as well as Memorandum of Understanding with United Nations Agencies related to voluntary, safe and dignified return of displaced persons from Rakhine State. As agreed under the Agreements, Myanmar was ready to receive the verified returnees since 23 January 2018. At the time the country is preparing for the 2020 election, responsible authorities are making necessary arrangements to ensure free and fair election that the citizens of Myanmar had witnessed and experienced in the past election. Notwithstanding, the difficulties and challenges that we are facing in our endeavours to promote enduring friendship and understanding with the United States, the Embassy of Myanmar will continue to work closely with all stakeholders in the United States to achieve our common goals.  

Notwithstanding, the difficulties and challenges that we are facing in our endeavours to promote enduring friendship and understanding with the United States, the Embassy of Myanmar will continue to work closely with all stakeholders in the United States to achieve our common goals.

State Counsellor Daw Aung San Suu Kyi inaugurated the first phase of a solar power plant project in Minbu yesterday, adding 40MW of power generated by the plant’s first phase to the national grid. Once completed, the plant will have a total capacity of 170MW, and it will produce 350 million kWh (kilowatt hour) per annum, and electrify about 210,000 households.