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  • April 11, 2014

    Department to set standards for property

    The move is part of the preparations for the seamless market under the Asean Economic Community (AEC), which is expected to see more foreigners coming to live and work in Bangkok. Also, the plan will ensure good living standards for Thais, as many of them live in condominiums. Pongpun Gearaviriyapun, director-general of the department, said he would soon call a meeting with involved enterprises such...

    Business
  • April 11, 2014

    Myanmar wraps up controversial census

    More than 10 million households have taken part in the survey, according to official figures for the first 10 days of the 12-day exercise, which is designed to plug widespread information gaps in the poverty-stricken nation. The 12-day, US$75million exercise started on March 30, involving 120,000 or so census workers spread out across the country and going door-to-door with a 41-item questionnaire...

    aec
  • April 11, 2014

    MBF's first meeting scheduled for July

    Local businesses and government officials will convene at the meeting, Zaw Min Win, vice-chairperson of the UMFCCI (Union of Myanmar Federation of Chambers of Commerce and Industry), said yesterday. "The president gave the permission for the establishment of the MBF when he met with the businessmen. Our country's private sector needs a big improvement. We're planning to hold the forum in the last...

    aec
  • April 11, 2014

    Govt admits to security weaknesses in Sittwe

    In a statement issued yesterday, the government pledged safety for the remaining United Nations agency staff and international non-governmental organisations (INGOs) in Sittwe. It would also help in the safe return of UN and INGO workers who were evacuated to Yangon during the violence in Sittwe. Foreign aid workers were evacuated from the Rakhine State capital on March 26 and 27 after angry crowds...

    aec
  • April 11, 2014

    Asean leaders to meet civic reps on major issues in May

    Aung Myo Min, member of Asean People's Forum Steering Committee, said that on on April 8, Aung Lin, Director General, Department of Asean Affairs, Ministry of Foreign Affairs, discussed with members of Asean People's Forum Steering Committee. It was agreed that the face-to-face meeting between Asean governments and civic representatives would be organised. "We have won the permission to hold the...

    aec
  • April 11, 2014

    Tax dodgers warned with 10-year prison term

    The customs department issued the warning on April 7, saying that the law will be enforced soon. "The country is facing tax evasion issue. It is a country with the lowest ratio of tax participants to GDP among Asean countries. So tax law and the taxation system are being amended to collect more tax," said Min Htut, director general of the customs department. He said about 15,000 companies are...

    aec
  • April 11, 2014

    Parliamentary commission to resolve Yangon land disputes on case-by-case basis

    The ongoing disputes include the land grabbing at Migyaungkan Wards 1, 2 and 3 in Thingankyun Township. Khaing Maung Yay, also Lower House MP, said that the chairperson Tin Htut and his commission members have discussed the work plans. The commission is expected to meet with the protesters in order to hear their demands "We have made a separate discussion with the commission chairperson. We...

    aec
  • April 11, 2014

    IMF urges 'solid authority' ahead of foreign bank entry

    In an interview, IMF's Deputy Managing Director Naoyuki Shinohara noted that foreign banks' presence will benefit the country, given their certain skills and expertise. "That will be beneficial in making the financial market in this country more sophisticated and more effective. At the same time, if you allow too many institutions to come in, you must have strong and solid supervisory authority...

    aec
  • April 11, 2014

    Central bank's role must be strengthened: IMF

    "It is very important to further strengthen the role of the central bank in foreign reserve management. All of the foreign reserves are still held by state banks. I think it is the role of the Central Bank to integrate other management of foreign reserves so that they can control the overall supply and demand of the foreign reserves in the country," said Shinohara in an exclusive interview with Myanmar...

    aec
  • April 11, 2014

    Actions needed to maintain reform momentum

    The country was very central in the British empire and has a lot of wealth, he continued. Yet, it remains to be seen what part politicians and business will take after the 2015 elections. "There is no shortcut in getting all 60 million people to be fully linked with the globalised economy," he noted. Still, optimism remains, as "It used to take 100 years to go from agriculture to industry". In...

    aec