Briefs

ASEAN+ November 28, 2016 01:00

By Asia News Network

Malaysians top investors in Myanmar agriculture sector



Malaysians were the top investors in the agricultural sector with investments of more than US$76 million from the 1988-89 fiscal year until the end of October this year, the Directorate of Investment and Companies Administration (DICA) has said.

Firms from some eight countries – Malaysia, South Korea, Thailand, Japan, Singapore, France, India and China – invested in the agriculture sector. South Koreans invested more than $67 million, while Thais invested more than $22 million, Japanese in excess of $20 million, Singaporeans over $18 million, French over $5 million, Indians over $4 million and Chinese over $2 million respectively.

Aung Naing Oo, secretary of the Myanmar Investment Commission (MIC), said foreign investments in agriculture were low because Myanmar has unclear policies in relation to land ownership and the sector also depends on good weather conditions. 

“Farming depends on the weather and it is a risk to make investment. [But] we are trying to promote it by amending the law,” he said.| – Myanmar Eleven

Deputy PM urges e-payment development in Vietnam

Vietnam’s Deputy Prime Minister Vu Duc Dam has said there is a need for all ministries and relevant agencies to coordinate and connect with specific policies to promote electronic payments.

He said there was a need to minimise cash payment, and make e-payments compulsory while encouraging its use. Dam made the comments during a “Vietnam E-payment Forum” on Thursday in Hanoi.

The deputy PM said that currently the Vietnamese government and authorised agencies provided about 125,000 public services. Of these, only 1,200 services had implemented e-technology in their services. – Viet Nam News

Business confidence down |in the Philippines

Uncertainties over the Philippine government’s foreign policy direction and the weakening peso dragged down business optimism, with the overall confidence index (CI) dropping to 39.8 per cent in the fourth quarter, the lowest in over two years, the Philippine central bank said.

While the CI remained in positive territory – which meant optimistic companies outnumbered pessimists – the figure for the October to December period was also the lowest fourth-quarter CI since 2011’s 38.7 per cent, the central bank’s latest business expectations survey released on Friday showed.

On a quarterly basis, the latest figure was the lowest since the 34.4 per cent posted in the third quarter of 2014. - Philippine Daily Inquirer

 

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