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Myanmar Stock Exchage : Almost Ready for Its Opening Bell

Investors see potential in the country of about 56 million people. Myanmar has a capitalist culture—it developed a sophisticated black market during the junta’s rule—and natural resources.

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Myanmar has four currency rates, no credit rating, and a shiny new stock exchange that doesn’t yet trade.

Those are some pieces of the financial puzzle that Aung San Suu Kyi’s National League for Democracy inherited when it took control of Parliament on Feb. 1.

After five decades of military rule, the former dissident’s party will need to grapple with those and other legacies of the country’s isolation.

Investors see potential in the country of about 56 million people. Myanmar has a capitalist culture—it developed a sophisticated black market during the junta’s rule—and natural resources.

The country may end up being among the fastest-growing in the world this year: The International Monetary Fund forecasts an 8.4 percent increase in real gross domestic product in 2016.

Meanwhile, the Central Bank of Myanmar is racing to put into place the financial infrastructure needed to cope with an expected influx of foreign investment and trade.The central bank granted preliminary licenses to nine foreign lenders in October, including Australia & New Zealand Banking Group and Industrial & Commercial Bank of China. They’re expected to engage in institutional banking to facilitate the entry of foreign investors. The central bank has said it plans to award a second round of licenses this year.

Source: This Southeast Asian Economy Is Almost Ready for Its Opening Bell – Bloomberg Business

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Cambodia

Thailand pushes CLMVT as the “New Value Chain Hub of Asia”

The Ministry of Commerce, in cooperation with 11 relevant agencies, hosted the CLMVT Forum 2019 with delegates from Cambodia, Laos, Myanmar, Vietnam, and Thailand

National News Bureau of Thailand

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BANGKOK, 24 June 2019 (NNT) – Thailand’s Prime Minister, Gen. Prayut Chan-o-cha, today attended the opening of the CLMVT Forum 2019, and urged its member countries to push for the development of the CLMVT Regional Value Chain, so that they can have more bargaining power and improve the well-being of their citizens.

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Asean

Hello, shadowlands : inside Southeast Asia’s $100 billion dark economy

Organized crime in Southeast Asia has entered a golden age : now valued at $100 billion, this dark economy is expected within the next decade to hit $375 billion

Olivier Languepin

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Hello, Shadowlands takes a deep plunge into crime rings both large and small. It also examines how China’s rise and America’s decline is creating new opportunities for transnational syndicates to thrive.

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Facebook

Burma: Facebook blamed for its role in the Rohingya genocide

It took Facebook a year to take concrete measures to rein in the appalling online hate machine that contributed to the systematic of massacre of Rohingyas initiated by Myanmar’s armed forces on 25 August 2017.

Boris Sullivan

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Welcoming Facebook’s announcement that it has finally closed the accounts of senior military officers in Myanmar who had been blamed for the ethnic cleansing of the country’s Rohingya Muslim minority, Reporters Without Borders (RSF) calls on the social networking giant to act transparently in future. (more…)

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