EU's threat to scrap trade preferences spurs Myanmar's reforms (Nikkei Asian Review - 16 December) Economic reform is getting a second wind in Myanmar as the government tries to lure back foreign investors scared away by reports of human rights abuses against the country's Rohingya Muslim minority. The government has announced the easing of restrictions on foreign banks and the creation of a new ministry to oversee foreign investment in an effort to restore investor confidence. But while the Rohingya issue may encourage reform, a growing sense that the economy is in crisis is putting pressure on the government to resolve it. Some previously reluctant business leaders are even beginning to speak out.
Myanmar’s economy depends on Rakhines stability: trade body (Myanmar Times - 14 December) Despite rich resources and good geographical location, Rakhine State has many challenges to overcome if it is to attract foreign investments, people in the business community say. “Foreign investments have slowed due to conflict in the state. The economy of Rakhine needs to be promoted first and only when it is conducive, will problems such as international pressure, inclusive development and conflict be reduced,” said U Tun Tun Naing, member of the Union of Myanmar Federation of Chambers of Commerce and Industries (UMFCCI). “The turmoil in Rakhine can be partly attributed to low levels of education in the state, so education must be promoted. With no job opportunities, there is no income .If livelihoods could be improved, there would be less conflict,” he said.
Govt hurries to fix regulatory issues which are the main concern for European firms (Myanmar Times - 13 December) The results of a business confidence survey conducted by the European Chamber of Commerce in Myanmar which involved 150 European companies with investments in the manufacturing, power generation, transport, storage and construction sectors in Myanmar, were announced yesterday. Currently, the UK, Netherlands and France are the biggest European investors in Myanmar. According to the survey, 81 percent of European companies said the Myanmar business environment is poor or needs improvement compared to 76pc in 2017 and 67pc in 2016.
A glorious Christmas Eve awaits you at The Rose Garden Hotel. Come share the joys of the season with us and spread cheers.
Christmas Eve Dinner includes 5 Course Set Menu with choices, Welcome Cocktail, free flow of Wine, Beer, Soft Drinks and Christmas Carols.
Early bird ticket - US $70.00 net per person, Walk-in guest - US$90 net per person
Join us as we ring in 2019 with a glass of Champagne in hand and friends at your fingertips. Let us invite you to our table set with great food, Apérol Spritz, Beer, Wine and desserts. Lose yourself in dance for the last time in 2018 and stop for a moment to enjoy the magic of our Firedancer and the best view above Yangon's horizon to welcome The New Year.
Entrance fee: USD 120,- inclusive drinks and food from 6PM until midnight, one hour of a free flow of champagne starting at 11pm, Fire dancer show at and DJ performance throughout the night.