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President U Win Myint Receives Outgoing Cambodian Ambassador

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President U Win Myint Receives Outgoing Cambodian Ambassador REGIONAL GOVTS, BUSINESSES CAN HELP REDUCE IMPACT OF MINING PAGE-8 (OPINION) NATIONAL NATIONAL Vice President U Myint Swe attends Vice President U Henry Van Thio opens meeting on establishing satellite system Technology & Machinery Show PAGE-3 PAGE-3 Vol. VI, No. 136, 2nd Waxing of Tawthalin 1381 ME www.globalnewlightofmyanmar.com Saturday, 31 August 2019 MIC okays President U Win Myint receives six projects outgoing Cambodian ambassador in real estate, livestock, farm sector THE Myanmar Investment Commission approved six pro- jects yesterday in the real es- tate, livestock and fisheries, and agriculture sectors, with invest- ments amounting to US$214.223 million and K25.733 billion. The projects will create 374 jobs for Myanmar citizens. The MIC granted its ap- proval at a meeting (14/2019) held in Yangon. U Thaung Tun, the Chairman of the MIC, and 9 members attended the meeting. Between 1988 and the end of July, 2019, the MIC has per- mitted a total of 1,779 foreign enterprises from 50 countries to invest in 12 sectors, with a total pledged amount of $81,249.193 million. Among them, Singa- pore, the People’s Republic of China, and Thailand have emerged as Myanmar’s leading investors. The oil and gas sector has President U Win Myint poses for a documentary photo together with outgoing Cambodian Ambassador Mr Sok Chea in Nay Pyi Taw yesterday. PHOTO: MNA enjoyed the largest share of in- vestment, accounting for 27.59 RESIDENT U Win Myint Pyi Taw yesterday. tional issues. ion Minister for International per cent of the total foreign fund Preceived Cambodian Am- At the call, they exchanged The meeting was also Cooperation U Kyaw Tin and inflows, followed by the power bassador Mr Sok Chea who has views on promotion of friendly attended by Union Minster officials.— MNA sector (26.07 per cent), and the completed his tour of duty at relations and closer coopera- from the Office of the Union manufacturing sector (13.94 per the Presidential Palace in Nay tion in regional and interna- Government U Min Thu, Un- (Translated by Aung Khin) cent).—MNA Mediapersons visit Taung Pyo Letwe camp, meet locals in Maungtaw A team of local and foreign jour- munities in Maungtaw Township. Soe Tun. They also visited houses ed to Shwezar Village and met apersons from Courrier Japon, nalists yesterday visited the During their visit to Taung built for returnees in the Kye- with local ethnic Rakhine people, Nishinipon Shimbun, Nippon TV, Taung Pyo Letwe Reception Pyo Letwe, they interviewed the inchaungtaung Village. Hindus, and Muslims residing VOA, BBC, MRTV, MITV, MIR, Centre and met with local com- reception centre’s in-charge U In the afternoon, they head- there. The group included medi- and MNA. INSIDE TODAY PARLIAMENT NATIONAL NATIONAL Central Bank Senior General Malaysia- of Myanmar Min Aung Hlaing Myanmar Connect explains its report receives outgoing 2019 takes place to Hluttaw Cambodian ambassador in Yangon PAGE-2 PAGE-5 PAGE-6 31 AUGUST 2019 2 PARLIAMENT THE GLOBAL NEW LIGHT OF MYANMAR Pyidaungsu Hluttaw Central Bank of Myanmar explains its report to Hluttaw AT the 18th-day meeting of the Government Office, the reports Second Pyidaungsu Hluttaw’s will be submitted to Pyidaungsu 13th regular session held yester- Hluttaw said the CBM Deputy day Central Bank of Myanmar Governor. explained its reports to the Hlut- After the explanation Py- taw and Hluttaw representatives idaungsu Hluttaw Speaker U T discussed basic principle and Khun Myat announced for Hlut- concept, project works, budget taw representatives who want to of Fiscal Year 2019-2020 National discuss the reports to register Planning Bill and Union Budget their names. Bill. FY 2019-2020 National Central Bank of Myanmar Planning Bill and Union report Budget Bill First Central Bank of Myan- Next 18 Hluttaw represent- Deputy Governor U Soe Thein. MP U Whey Tin. MP Lt-Col Myo Tun Aung. mar (CBM) Deputy Governor U PHOTO : MNA PHOTO : MNA PHOTO : MNA atives discussed the basic prin- Soe Thein explained to the Hlut- ciple and concept, project works, taw CBM financial policy imple- budget of Fiscal Year 2019-2020 mentation report and financial National Planning Bill and Union stability report for fiscal year Budget Bill. 2016-2017 and 2017-2018. The 18 Hluttaw representa- CBM Deputy Governor said tives were U Khin Cho of Hlaing- economic growth rate of Myan- bwe constituency, U Khin Maung mar was 5.9 per cent and 6.8 per Thi of Loilem constituency, U cent in FY 2016-2017 and FY 2017- Whey Tin of Chin State constit- 2018 respectively. The reason for uency 11, Tatmadaw Amyotha the increase in economic growth Hluttaw representative Lt-Col rate was due to the increase in Myo Tun Aung, U Lwin Ko Latt of agriculture sector production Thanlyin constituency, Dr Khin and export, increase in indus- Soe Soe Kyi of Pyay constituency, try sector garment export and U Than Soe ( a ) Than Soe (Eco- improvement in bank services. nomic) of Yangon Region constit- MP U Lwin Ko Latt. MP Dr Khin Soe Soe Kyi. MP U Than Soe. Annual inflation rate and av- uency 4, U Soe Aung Naing of PHOTO : MNA PHOTO : MNA PHOTO : MNA erage inflation rate calculated on Kyonpyaw constituency, U Zaw prices of 2012 as a base year was targeted at 16 per cent for FY market, CBM had conducted for- CBM and regulations were set Min Thein of Laymyethna con- 7 per cent and 6.8 per cent for FY 2017-2018 and by end March of eign currency auctions to avoid to control and manage financial stituency, U Aye Naing of Dagon 2016-2017 and 5.4 per cent and 4 FY 2017-2018 this also remains wide swings in foreign exchange institutions. As of end of FY 2016- Myothit (South) constituency, per cent for FY 2017-2018. within target at 6 per cent. rate. For the development of 2017 financial institutions made Tatmadaw Pyithu Hluttaw rep- Annual inflation rate de- To have an appropriate lev- interbank trade of foreign cur- a total loan of K 39.69 billion. As resentative Maj Htin Lin Oo, U creased significantly due to the el of currency in the econom- rency Yangon foreign exchange of end of FY 2017-2018 financial Myint Tun of Taze constituency, exceptionally stable foreign ex- ic system, deposit auction of market was established on 5 Au- institutions made a total loan of U Lal Min Htan of Chin State change rate, decrease in CBM’s banks’ current account surplus gust 2013. During FY 2016-2017 K 68.06 billion. Due to this there constituency 10, U Hla Tun Kyaw funding government’s budget was started from 17 September the exchange rate of US dollar was financial stability during FY of Maungtaw constituency, Daw deficit and stability of consum- 2012. A total of 23 auctions were was at the lowest of K 1,159 and 2016-2017 and FY 2017-2018. Khin San Hlaing of Pale constitu- er product prices. Although the conducted in FY 2016-2017 and the highest of K 1,434. Daily ex- Financial policy implemen- ency, U San Myint of Ayeyawady inflation rate decreased signifi- an average of K 343 billion was change rate change was within tation report and financial sta- Region constituency 3, Dr Pyae cantly it still remains high in com- reduced from the economic sys- one per cent. In FY 2017-2018 the bility report for the six month Phyo of Ayeyawady Region con- parison to neighboring ASEAN tem in each auction. A total of 24 exchange rate of US dollar was period of April to September 2018 stituency 7, and U Thet Naung countries. auctions were conducted in FY at the lowest of K 1,328 and high- was submitted to President Of- of Lahe constituency. Money supply growth rate 2017-2018 and an average of K est of K 1,367. Daily exchange fice and approval was obtained. The 19th-day meeting of was targeted at 13 per cent for 307 billion was reduced from the rate change was within 0.5 per Arrangements were made to the Second Pyidaungsu Hlut- FY 2016-2017 and by end March economic system in each auction. cent. submit those reports to Union taw’s 13th regular session will of FY 2016-2017 it remains within To smoothen and ease the Stability of the financial sys- Government Office and once ap- be held on 2 September.— Aung the target at 9 per cent. It was flow of foreign currency in the tem was one of the main aims of proval is obtained from Union Ye Thwin, Aye Aye Thant Pyidaungsu Hluttaw Joint Bill Committee holds meeting PYIDAUNGSU Hluttaw Joint Speaker and Joint Bill Com- Bill Committee held a meeting mittee Chairman U Tun Aung at Pyidaungsu Hluttaw Build- ( a ) U Tun Tun Hein, Joint Bill ing D, second floor meeting Committee deputy chairmen, hall, yesterday afternoon to secretary, joint secretary and discuss the Education Re- committee members, officials search, Planning and Training from Ministry of Education, Bill in which the two Hluttaws Union Attorney General Of- were in disagreement. fice and Pyidaungsu Hluttaw The meeting was attended Office.—MNA Pyidaungsu Hluttaw Joint Bill Committee discusses Education Research, Planning and Training Bill in Nay Pyi by Pyidaungsu Hluttaw Deputy (Translated by Zaw Min) Taw yesterday. PHOTO: MNA 31 AUGUST 2019 THE GLOBAL NEW LIGHT OF MYANMAR NATIONAL 3 VP U Myint Swe attends meeting on establishing satellite system Vice President U Myint Swe, Chairman of the steering com- mittee on establishing Myan- mar Owned satellite system addressed the sixth coordina- tion meeting of the committee at the Ministry of Transport and Communications in Nay Pyi Taw yesterday morning.
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