The Irrawaddy Magazine |
- Military Officials, Cronies Released from US Blacklist
- The Irrawaddy Business Roundup (October 8)
- This Week in Parliament (October 3-7)
- Obama lifts sanctions against Burma
| Military Officials, Cronies Released from US Blacklist Posted: 08 Oct 2016 02:07 AM PDT  A combination of file photos shows, from L-R, former dictator Snr-Gen Than Shwe, General Maung Aye and Thura Shwe Mann. (Photo: REUTERS/Staff/Archives.) RANGOON — Burma's former dictator Snr-Gen Than Shwe was among individuals removed from the US Treasury's blacklist following the lifting of Burma sanctions on Friday. Another 16 senior military officials, including former Vice Snr-Gen Maung Aye, have been removed from the US Treasury's Office of Foreign Asset's Specially Designated Nationals and Blocked Persons (SDN) List. Apart from senior military officials, military-related businesses removed from the list include Myanmar Economic Holdings Limited, the Myanmar Economic Corporation, Myawaddy Bank and the Directorate of Defence Industries, which is Burma's state-owned arms and ordnance manufacturer. Five top crony business men, along with their family members and businesses, are no longer under sanction; they are U Tay Za, U Khin Shwe, Yuzana U Htay Myint, U Zaw Zaw and Stephen Law, whose late father was once described by the US Treasury as one of the world’s key heroin traffickers. President Barack Obama formally announced the lifting of US sanctions on Burma on Friday by terminating an emergency order that deemed the policies of the former military government a threat to US national security. The move followed a meeting between Burma's State Counselor Aung San Suu Kyi and Obama in Washington last month, in which she called for the lifting of economic sanctions against her country. More than 50 individuals along with their families and their businesses in hotels, agriculture, construction, banking, and logging were released from sanctions on Friday. A key figure is Lt–Gen Thein Htay, chief of the Directorate of Defence Industries, who was blacklisted in 2013 for alleged arms trading with North Korea. Another three Burmese firms, Soe Min Htike Co. Ltd., Asia Metal Company and Excellence Mineral Manufacturing Company, sanctioned in 2013 for working with North Korea, have been removed from the SDN list. Also among the individuals are family members of Thura U Shwe Mann, a former Union Solidarity and Development Party chairman and Daw Aung San Suu Kyi's close ally from the previous U Thein Sein government. He is a former general and was considered the third most powerful man in the State Peace and Development Council. His wife Daw Khin Lay Thet and son U Aung Thet Mann—who is the CEO of Ayer Shwe Wah, a subsidiary of Htoo Trading Company owned by U Tay Za—are also no longer sanctioned. The lifting of sanctions was welcomed by Burma's business community on Saturday. U Khin Shwe, the president of Zay Gabar Company who was also removed from the list, said it was "a very nice move" by the US government "at the right time" as Burma now has a civilian government led by Daw Aung San Suu Kyi. "Any delay in lifting sanctions could lead to backsliding in the country's democratic transition as Burma is in urgent need of economic development," he told The Irrawaddy. "We [businesspeople removed from the list] can create jobs for thousands of people when international investment comes in," he added. U Khin Shwe explained that the sanction lift will encourage other countries, aside from the US and EU countries, to invest in Burma, such as South Korea. "They will no longer feel reluctant to work with us as there are no sanctions," he said. The US Treasury Department said the termination of the Burma sanctions program does not impact Burmese individuals or entities blocked pursuant to other sanctions authorities, such as counter-narcotics and North Korea sanctions, barring any business dealings with the US. They include alleged drugs kingpin Wei Hsueh Kang and the United Wa State Army, one of Burma's biggest ethnic armed groups. They remain on the SDN List, and their property and interests in property remain blocked. The post Military Officials, Cronies Released from US Blacklist appeared first on The Irrawaddy. |
| The Irrawaddy Business Roundup (October 8) Posted: 07 Oct 2016 08:07 PM PDT  A man rides across the "friendship" bridge at the Indian town of Moreh on the Burmese border, January 25, 2012. Indian border trade 'crippled' Trade between Burma and India at the international gate between Tamu, Sagaing Division and Moreh in India's Manipur State ground to a halt early this week after Burma closed the trading post on Monday, according to The Hindu news outlet. The closure followed a powerful bomb explosion inside Burma near a boundary pillar located 40 meters from a neighborhood in Moreh on Sunday. On the evening of the same day, a man believed to be an Indian insurgent was shot by five unidentified persons at Namphalong near the international gate, according to reports. Meanwhile, loaded trucks from India were stranded at Moreh waiting for the gate to reopen, while many others returned to Imphal, the Manipur state capital, and to other cities in northeast India, The Hindu report said. The price of imported goods has risen steeply in parts of India's northeast since the closure, according to other sources. Bangladesh seeks gas from Burma Bangladesh is seeking support from India for a proposal to import natural gas from Burma, according to The Daily Sun in the Bangladeshi capital, Dhaka. Support for the plan was due to be solicited at a meeting in New Delhi on Friday between Bangladesh's energy minister Nasrul Hamid and Indian State Minister for Petroleum and Natural Gas Dharmendar Pradan, the paper said. Bangladesh has already made a proposal to Burma to export its surplus gas to Bangladesh, according to the report, which added that Burma's gas exports to Thailand and China have dropped amid a fall in gas and oil prices in the international market. "To meet ever-growing gas demand, Bangladesh wants to propose energy sector cooperation with Myanmar. Bangladesh's proposal will include a joint-venture gas pipeline and possibly a sub-regional grid line for the Rakhine and Chin states of Myanmar," Bangladeshi officials told the paper. Bangladesh currently produces 2,700mmcfd of gas against a demand of 3,200mmcd, the report said. KBZ insurance arm aims to list on Rangoon's Stock Exchange The KBZ banking group is seeking to list its insurance arm on the Yangon Stock Exchange by the end of next year, a senior executive told Reuters this week. The size of the initial public offering has not yet been finalized, but the listed arm could have a market capitalization of between US$500 million – $750 million, senior managing director of KBZ group U Nyo Myint said. The insurance arm has paid-up capital of $55 million. KBZ plans to list 40 percent of the firm, he said. Trading started on the Yangon Stock Exchange in March this year and so far three companies have been listed. Meanwhile KBZ's banking arm is seeking a partnership with a financial technology company to boost digital and mobile banking solutions across the country, group executives said. Thailand's True Money to work with Asian Green Development Bank Thailand's True Money is gearing up to provide electronic payment services between Thailand and Burma, the Bangkok Post reported. This would allow the company to tap into the potentially lucrative stream of remittances that passes from several million Burmese migrant workers in Thailand to their families in Burma. In March this year, the central bank of Thailand eased regulations to allow companies holding payment licenses under the law regulating e-payment to act as international money transfer agents using websites and mobile phone apps. True Money will team up with the Asia Green Development Bank, owned by prominent military-linked tycoon Tay Za, to develop a payments service that will be capped at 200,000 baht (7.3 million kyats/US$5,730) per day per person. The international payment service has "strong potential" because Thailand was "home to 3.9 million migrant workers in 2015" said Saranrat Srichiraratana, managing director of True Money. Burmese migrants working in Thailand transfer around 77 billion baht (US$2.2 billion) home annually, with an average of 30,000 baht ($860) worth of transactions per person per year, the report said. However, most of this remittance money passes through informal channels, including the hundi system, which involves a network of brokers spread across the two countries, despite the option of using banks since 2012. Singapore-themed festival in Rangoon A "Singapore Festival," taking place this weekend at the Myanmar Plaza in Rangoon, will celebrate 50 years of bilateral relations between Burma and Singapore. Organized by the Singapore Tourism Board, the event will feature games, performances and music, with appearances by movie stars Pyay Ti Oo and Eaindra Kyaw Zin. Celebrities Thun Sett and Tun Ko Ko will conduct cooking demonstrations onstage. .Burma and Singapore marked 50 years of diplomatic relations in April this year. Visa-free travel between the two countries is set to begin in December. Singapore is a growing destination for Burmese nationals. The city state already contains a substantial Burmese expatriate population. Annual visitor arrivals to Singapore from Burma rose by 12 percent from 2011 to 2015. Huawei teams up with KMD China's Huawei has teamed up with information technology and services provider KMD Group to boost its presence in Burma's mobile phone market, the China Daily reported. Huawei aims to increase its market share in Burma where the brand already enjoys a strong position in the country's growing mobile phone market. Huawei's brand power is significantly higher in Burma than in its home market, China, according to a report on Burma's consumer market titled "Spotlight on Myanmar," conducted by WPP and Millward Brown companies. In February this year, a Huawei-backed information technology training center opened in Rangoon's Thanlyin University of Science and Technology. The Huawei Authorized Information and Network Academy (HAINA), one of several set up across the globe, aims to boost human resources in Burma's information technology sector. Thilawa SEZ Holdings proposes share split Thilawa SEZ Holdings has proposed splitting its shares at a ratio of 1:10 in order to increase its stock's liquidity and affordability, DealStreet Asia reported. The number of issued and paid up shares will rise from 3,892,915 to 38,929,150, while the value of shares will change from 10,000 to 1,000 kyats (US$7.85 to $0.78) per share, according to the proposal. A date has not yet been confirmed for the stock split. The company also announced that it has appointed a new chief financial officer, Wei Hua Tan, a former chief financial officer of UAE-based Al Maabar International Investments Company, with interests in real estate and the hospitality sector. He will assume the position earlier held by U Tun Tun, who also acts as the executive director and chief financial officer of First Myanmar Investment (FMI), one of Burma's largest investment firms headed by tycoon Serge Pun. Thilawa SEZ Holdings oversees the development of the Thilawa Special Economic Zone, a 2,500-hectare industrial park and port development project located in Rangoon's southeastern Thanlyin Township, which has attracted substantial Japanese investment. The post The Irrawaddy Business Roundup (October 8) appeared first on The Irrawaddy. |
| This Week in Parliament (October 3-7) Posted: 07 Oct 2016 07:48 PM PDT  Members attend a meeting at the Lower House of Burma's parliament earlier this year. (Photo: Soe Zeya Tun / Reuters) Monday (October 3) In the Lower House, lawmakers voted to reject Dr Maung Thin's proposal for the government to design an inclusive basic education policy by holding seminars at different levels and inviting input from different levels of society. In the Upper House, Deputy Minister for Agriculture, Livestock and Irrigation Dr Tun Win responded to a question from Daw Ei Ei Pyone of Irrawaddy Division (8), saying that his ministry is disseminating knowledge about good agricultural practice, soil management and the use of fertilizer and pesticides, right down to local level, while prioritizing research and development. Tuesday (October 4) In the Lower House, lawmakers debated a proposal from U Than Nyunt, representing Phyu Township of Pegu Division, for the government to upgrade rail transport in line with international standards. The house put the proposal on record. The Union Parliament revoked the widely derided 1950 Emergency Provisions Act, which had been used frequently by successive military governments to imprison dissidents. Wednesday (October 5) In the Lower House, U Myint Lwin, who represents Twante Township of Rangoon Division, asked whether the government had plans to support Burma's film industry, with an eye to penetrating international movie markets. Minister of Information U Pe Myint replied that a dedicated motion picture law is a precondition for developing Burma's film industry and said his ministry was working with relevant individuals, associations and ministries to develop one. The Upper House approved the draft of the hotly anticipated Myanmar Investment Law, which merges and updates the provisions of the 2012 Foreign Investment Law and the 2013 Myanmar Citizens Investment Law. Thursday (October 6) The Lower House approved amendments to the civil service law. Deputy Minister of Home Affairs Maj-Gen Aung Soe responded to a question from U Tun Tun, of Pwintbyu Township in Magwe Division, saying that his ministry is taking legal action against illegal liquor shops and bootleg sellers, and is making brewing plants undergo checks before extending their licenses. In the Lower House, lawmaker U Tin Aye asked about the government's security plans in light of increasing terrorist attacks in other countries in the region. Deputy Minister of Home Affairs Maj-Gen Aung Soe replied that his ministry has blacklisted international terrorist organizations and their members, in accordance with lists supplied by Interpol, Aseanpol and partner organizations, and has developed counter-terrorism plans based on international practice. In the Upper House, U Hla Hsan of Magwe Division (1) asked about five state-run fertilizer plants and about fertilizer imports. Deputy Minister of Electricity and Energy Dr Tun Naing said that two plants, in Myaungdaga and Kangyidaunt, are still operating but manufacturing below normal levels while three others, in Sale, Kyunchaung and Kyaw Swar, have halted production because of a shortage of natural gas needed for fuel. He said that the Ministry of Agriculture, Livestock and Irrigation regulates imports of fertilizer to ensure their quality and accessibility. Lawmakers in the Upper House also debated a new bill to protect citizens' privacy and security from state intrusion, which was previously passed by the Lower House. Friday (October 7) The Lower House's term formally concluded. According to the Lower House speaker, a total of 225 "asterisk" questions and 407 "non-asterisk" questions were asked throughout the term. Sixteen proposals, including two "important" proposals, were submitted—four were approved, nine others documented, two rejected and one was not discussed. Ten out of 19 bills were passed. In the Upper House, divergent views were expressed over the bill to protect citizens' privacy and security. The debate will continue at the Union Parliament during the next parliamentary term. In the Union Parliament, lawmakers ratified an Asean protocol concerning an "enhanced" dispute-settlement mechanism. The post This Week in Parliament (October 3-7) appeared first on The Irrawaddy. |
| Obama lifts sanctions against Burma Posted: 07 Oct 2016 07:27 PM PDT  US President Barack Obama talks to the media as he meets with State Counselor Daw Aung San Suu Kyi at the Oval Office of the White House in Washington, D.C. on September 14. / Photo: Reuters) WASHINGTON—President Barack Obama formally announced the lifting of US sanctions on Burma on Friday by terminating an emergency order that deemed the policies of the former military government a threat to US national security. ''I have determined that the situation that gave rise to the national emergency … has been significantly altered by Burma's substantial advances to promote democracy, including historic elections in November 2015,'' Obama said in a letter to the US House and Senate speakers. A US Treasury statement said that as a result of the termination of the emergency order the economic and financial sanctions administered by the Department of the Treasury's Office of Foreign Assets Control were no longer in effect. The move followed a meeting between Burma's State Counselor Aung San Suu Kyi and Obama in Washington last month, when she called for the lifting of economic sanctions against her country, and he said he was willing to do this. Daw Aung San Suu Kyi’s National League for Democracy won a sweeping victory in the November elections. Obama’s letter pointed to the formation of a democratically elected, civilian-led government as a result of the election, the release of many political prisoners and improved human rights and fundamental freedoms, including freedom of expression and freedom of association and peaceful assembly. ''While Burma faces significant challenges, including the consolidation of its democracy, the United States can, and intends to, use other means to support the government and people of Burma in their efforts to address these challenges,'' Obama's letter said. Daw Aung San Suu Kyi, a Nobel Peace Prize laureate and democracy icon, helped persuade the West to impose sanctions on Burma during her years as a jailed opposition leader. She is now trying to strike a balance between showing her people the economic rewards of a democratic transition while keeping pressure on the country’s generals for further reforms. Some members of the U.S. Congress have expressed concerns about the extent and durability of change in Burma and introduced legislation seeking to give lawmakers some influence on the process of easing sanctions. Rights groups condemned last month’s announcement, saying it forfeited leverage on Burma's military. Officials of the US administration have said the removal of sanctions would not apply to military-to-military assistance, given the extent of the military’s involvement in politics and rights abuses. Daw Aung San Suu Kyi herself has been criticized for doing too little to address the plight of Burma's stateless Rohingya Muslim minority. The State Department said last month that several restrictions would remain in place, including barring visas for military leaders. The post Obama lifts sanctions against Burma appeared first on The Irrawaddy. |
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