MYANMAR MATTERS · myanmar matters vol 12: june - july 2015 celebrating democracy’s we wish our...

MYANMAR MATTERSVol 12: June - July 2015

CELEBRATINGDEMOCRACY’SWIN IN MYANMARWE WISH OUR READERS A

VERY HAPPY NEW YEAR

Vol 16 : January 2017

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TAblE Of CONTENTS

for contributions, feedback & inquiries on advertising opportunities in Myanmar Matters, please contact :

[email protected] www.myanmarmatters.com

Profiled & published by Globally Managed Services - www.gms.net.in

Founding Chairman : Ranjit Barthakur

Editor in Chief : Wishu Sindhu

Advisory Board Members:

l Nicholas Claxton

l Kamal Nain Pandya

l Kalpesh Popat

l Kaustuv Bhadra

l Akash Chandra

l Prabudha Barua

l Varsha Wadhwani

FOREWORD India’s Act East Policy Will Provide A Strong Link To ASEAN

5-6

BUSINESS

Myanmar Shifts Gears To Drive Growth In Small Business

8

Ms. Suu Kyi May Overlook Qualms With Japan And Give Japanese Firms Chance To Move In

9

INVESTMENT

Japan Pledges US $ 7.73 Billion For Myanmar’s Development

11

US Quasar Resources Looks To Invest Up To $ 400 Million In Myanmar's Power Sector

12

TECHNOLOGY Telenor Shifts Myanmar Focus To Internet Services 14

NATION NEWS

Myanmar Probes Whether To Resume Construction Of Controversial Chinese-Backed Dam

16

Swiss Government To Launch Vocational Training In Burma

17

RELIGION A Visit To Myanmar Temples: Experience Holiness And Thanaka

19-20

PEOPLE AND LIFESTYLE

Myanmar's Explosive Fire Balloon Festival 22

THAILAND CONNECT

India, Myanmar And Thailand Friendship Motor Car Rally, 2016 Flagged-Off On November 13

24

INDIA CONNECT -NORTH EAST-BUSINESS

Assam State Power Sector Incurs Rs 3,700-Cr Loss 25

INDIA CONNECT - NORTH EAST-FINANCE

Demonetisation: The Short And Long Term Effects On North East And The Rest Of India 26-27

INDIA CONNECT - NORTH EAST-TOURISM

Assam Safari Express Set To Roll In February 28

Motor Sport Event Held In Tura, Meghalaya To Promote Adventure Tourism

29

INDIA CONNECT - NORTH EAST- CONNECTIVITY

Railway Minister Mr. Suresh Prabhu States Rail Network Will Make Northeast India A 'Destination'

30

Manipur Gets Country's Longest Safety Rail Tunnel 31

BHUTAN

2.1 Billion Yen Grant For Bhutan 33

India And Bhutan Sign New Bilateral Trade Agreement

34

BANGLADESH

Bangladesh Hopes To Recover $ 30 Million More From Cyber Heist

36

Damodar Valley Corporation Eyes Selling Power To Bangladesh

37

Advertisement Kaziranga Guidebook 38

Vol 16: January 2017(3)MYANMAR MATTERSVol 12: June - July 2015

CELEBRATINGDEMOCRACY’SWIN IN MYANMAR

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FOREWORD

FOREWORD

(4) Vol 16: January 2017MYANMAR MATTERSVol 12: June - July 2015


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INDIA’S ACT EAST POlICY WIll PROVIDE A STRONG lINK TO ASEAN

India’s Prime Minister, Mr. Narendra Modi started laying emphasis on the development of India’s North Eastern region soon after he assumed office. Since then, the Government of India has taken several concrete steps to not only develop North East but also to improve its connectivity with the rest of the country. This policy has been named ‘Act East’ Policy and it states that India’s North East region

can serve as a potential link to ASEAN. This region shares a 1,640 km long land border with Myanmar and through Myanmar India is hoping to gain access to various other countries which lie further ahead. Prime Minister Modi’s ‘Act East’ policy got a big boost when Myanmar’s State Counselor and Minister of Foreign Affairs Ms. Aung San Suu Kyi came to India for a four

day visit in October, 2016. During the meetings that took place during this visit, ample indications were given by both sides that they want to improve bilateral ties even further and establish a mutually beneficial developmental relationship with each other.

Mr. Modi has announced India’s commitment to invest US $ 1.75 billion in Myanmar. He has further stated that this investment will be ‘people centric’ which means that the main focus will be the welfare of the people of Myanmar. With such statements coming out of the Prime Minister’s office and looking at all the infrastructure development projects that have been initiated in the North Eastern region, it is clear that the ‘Act East’ Policy holds a very important place in India’s new international strategy. By focusing on improving connectivity in the North East, India is showing its determined intentions to boost commerce, connectivity and cultural ties with ASEAN. However, in the long run India is eyeing an even more ambitions target. It is looking to extend the connection even further south to countries such as

FOREWORD

ASEAN NATIONS flAGS IN JAKARTA

FOREWORD



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South Korea, Australia, Japan, and Mongolia.

India’s North East has a very rugged terrain which does pose some difficulties which are further enhanced by the fact that it is connected with mainland India only by the narrow 22 km Siliguri corridor. This corridor is located in the state of West Bengal and is called the ‘Chicken’s Neck’.

However, if these difficulties are overcome by focusing on developing all possible means of transport such as roadways, railways, airways, and waterways then it can open a whole new era of development for the region. This region shares a total of over 5,400 km of borders with five neighbors, which besides Myanmar include Bangladesh, Bhutan, China and Nepal. These borders

if properly tapped can give rise to huge trade possibilities and as a result the currently sluggish and almost stagnant economy of India’s North Eastern states can get a great chance to develop and flourish. Myanmar is the only ASEAN country that directly borders India and it does so in the North East region. So, the bridge from India to ASEAN and beyond just can’t be built without proper development of the North Eastern states.

India understands this and has started working on various plans to make this dream a reality. Work on some of the transnational road and rail connectivity projects has already begun. India-Myanmar-Thailand Trilateral Highway, a 1,360 km highway joining Moreh in Manipur (India) to Mae Sot in Thailand through Bagan in Myanmar; Kaladan Multi-Modal Transit Transport Facility, connecting Indian ports on the eastern seaboard and Sittwe Port in Myanmar and then through riverine transport and by road to Mizoram (India), thus providing an alternate route for transport of goods to North East India; another rail link from Jiribam in Manipur to Hanoi in Vietnam passing through Myanmar, and revitalizing the Stilwell Road, linking Assam with China’s Yunnan province are some of the other important projects initiated by India. Good progress is being made without doubt but one of the things to keep in mind is that local governments and the people of North East are important stakeholders in these projects and Central Government should work on properly engaging them so that they can take full advantage of these connectivity projects.

Ranjit barthakur, Founding Chairman, Myanmar Matters

INDIA’S PRIME MINISTER MR. NAREDRA MODI IS lAYING GREAT EMPHASIS ON THE ACT EAST POlICY



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BUSINESS

BUSINESS



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BUSINESS

Myanmar’s State Counselor Ms. Aung San Suu Kyi is promoting an overhauled investment law to a new generation of smaller businesses. She hopes one day these small businesses will be able to dilute the influence of Myanmar’s old military-linked oligarchs. This new strategy and planning is aimed at leveling the market field so that local businesses of Myanmar are able to stand up to the foreign companies and survive and thrive alongside them. This new law was signed on October 18, 2016 after the United States President Mr. Barack Obama formally dropped all the remaining U.S. imposed sanctions on Myanmar.

The United States decided to drop the sanctions because it saw Myanmar moving towards becoming a complete democracy. This was the result of years of struggle by Ms. Suu Kyi and various other supporters of her cause which resulted in National League of Democracy to win the elections in Myanmar and come to power. Many investment and government officials worked hard to design the new streamlined law in order to make it easier and faster for smaller, local businesses to obtain operating permits. Myanmar’s economy is expanding rapidly and it is hoped that local businesses will be able to provide a big boost to it.

MYANMAR SHIfTS GEARS TO DRIVE GROWTH IN SMAll bUSINESS

U.S. PRESIDENT MR. bARRACK ObAMA lIfTED All SANCTIONS fROM MYANMAR



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MS. SUU KYI MAY OVERlOOK QUAlMS WITH

JAPAN AND GIVE JAPANESE fIRMS CHANCE TO MOVE IN

Myanmar’s State Counselor Ms. Aung San Suu Kyi has slammed Tokyo for providing economic assistance to the country, which was at the time ruled by the military. However, now she is willing to join hands with Japan for practical benefits. Ever since her party assumed power, Ms. Suu Kyi has taken a very pragmatic approach. She put aside her differences with military leaders and business tycoons who made a fortune during the junta era and chose to give priority to economic development instead. She has even gone as far as to maintain relatively friendly ties with the former junta leaders who effectively imprisoned her for more than 14 years. She has also pledged to refrain from targeting the corrupt tycoons. She is following the same policy with Japan in order to uphold the best interests of her country.

Some experts believe that she is trying to find a balance in getting along well with both Japan and China at the same time. Her recent trip to Japan provided Japanese firms a fresh momentum to advance further into Myanmar. The lifting of sanctions by the U.S. is also an encouraging factor as in the past many Japanese firms have avoided doing business with blacklisted entities. Many Japanese firms are already operating in Myanmar and have brought in heavy investments. With Ms. Suu Kyi’s attitude softening towards Japan, many more businesses and more investment is expected to enter Myanmar’s economy. Myanmar is a growing economy with great potential and many Japanese firms operating here are already making huge profits. With Ms. Suu Kyi allowing and even encouraging Japanese firms to do business in her country many more companies are likely to follow.



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INVESTMENT

INVESTMENT



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JAPAN PlEDGES US $ 7.73 bIllION fOR MYANMAR’S DEVElOPMENT

On November 2, 2016 the Prime Minister of Japan Mr. Shinzo Abe announced that Japan will provide 800 billion Yen (US $ 7.73 billion) to Myanmar over the next five years. The money will be provided in order to assist the peace process and the development in the country. The statement was made at a joint press conference with Myanmar State Counsellor and Minister of Foreign Affairs Ms. Aung San Suu Kyi during her visit to Japan. Mr. Abe said that he hopes that the funding will help Myanmar develop. Out of the promised funds, 40 billion Yen (US $ 387 million) will be used to assist ethnic minority groups and the remaining will be invested in airports and electricity projects. In a meeting that took place prior to the press conference, Mr. Abe pledged Japan’s full support for public and private sectors in Myanmar.

Ms. Aung San Suu Kyi acknowledged Japan’s assistance as helping Myanmar to ensure peace and stability. She said that she believes that Japan will prove to be a trusted partner of Myanmar during this period of her country’s transition. Ms. Suu Kyi’s visit to Japan was focused on promoting Myanmar as a destination for investors. Earlier, she visited China, the United States and India for the same purpose. According to the Japanese Ministry of Foreign Affairs, in the fiscal year 2014, which ended in March 2015, Japan’s direct investment in Myanmar reached US $ 86 million and Myanmar’s export to Japan hit US $ 513 million. Most of the exports from Myanmar are clothing and farm produce and in this fiscal year it imported US $ 1.3 billion worth of products from Japan which were mostly cars and machineries.

INVESTMENT

INVESTMENT



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INVESTMENT

US QUASAR RESOURCES lOOKS TO INVEST UP TO $ 400 MIllION IN MYANMAR'S POWER SECTORQuasar Resources, a Texas-based energy development company, is planning to invest from up to US $ 400 million in the Myanmar’s power sector over the next five years. The company is looking at developing a 100 MW solar power station in Sagaing Region of Myanmar. It will invest around US $ 150 million in this project. Quasar Resources has already begun talking to the Myanmar Government in order to take the project forward. Following approvals, the company is hopeful of completing the project in one year. Recognizing the huge potential of the power sector in Myanmar, various private firms are keen to enter it. Around 70 percent of power in Myanmar at present comes from hydroelectric plants. Quasar Resources has plans to focus on solar energy which will prove to be beneficial in summers when water runs low in dry areas and the production of hydroelectric plants is impacted.

This firm is also talking to the local government for developing a 64 MW hydel power plant in the Upper Saedawgyi region. This project will require an investment of around US $ 150 million and will involve building a new dam to increase capacity.Quasar Resources also has plans to set up a 100 MW power plant in Thilawa Special Economic Zone which will be built in three phases of 33 MW each. Quasar Resources has already raised private capital and is currently in advanced discussions with some more entities to secure additional funding. Besides Quassar Resources, Myanmar has seen investments from other corporations in the power infrastructure field. Some of these include US based ACO Investment Group and Convalt Energy‘s 300 MW project in Myingyan and Thailand’s Green Earth Power Co. Ltd. plant in Minbu.



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TECHNOLOGY



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TECHNOLOGY

TElENOR SHIfTS MYANMAR fOCUS TO INTERNET SERVICES

As the era of rapid telecom subscriber growth in Myanmar has ended, one of the chief operators in the country, the Norwegian telecoms company Telenor, will now focus on improving its internet services. Myanmar's telecoms sector was liberalized in 2011 and soon after that Telenor established itself as the number 2 player in the market with 18 million subscribers. The initial phase saw tremendous growth in the telecom sector with various companies competing to get more customers. However, now that the growth phase has subsided, focus has shifted towards providing

better data services. Most people in Myanmar who wanted a SIM card have already obtained it and now the companies are competing to retain existing customers rather than targeting on getting new ones who have never used a cellphone before.

In Myanmar there are no fixed line alternatives available to most people and many people don’t even own a computer. Therefore, people are jumping at the chance to be able to access the internet through their smartphones. Facebook, WhatsApp and Viber are already extremely popular in the country. Main

competitors of Telenor are Qatar's

Ooredoo and Myanmar Posts and

Telecommunications (MPT) which

has partnered with Japan's KDDI

Corp in order to improve its services.

According to estimates, MPT has 21

million customers while Ooredoo

has 9 million subscribers. Telenor is

3 million customers behind MPT and

for in the third quarter this year,5.3

percent of its worldwide revenue

came from Myanmar. Around 40

percent of this revenue came from

data services while the remaining

60 percent was from voice calls and

text messages.



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NATION NEWS



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NATION NEWS

MYANMAR PRObES WHETHER TO RESUME CONSTRUCTION Of CONTROVERSIAl CHINESE-bACKED DAM

The construction of China backed Myitsone dam was halted in 2011 due to environmental and safety concerns. Now the Government of Myanmar is considering whether it should resume the construction of this dam. Myanmar’s State Counselor and Minister for Foreign affairs Ms. Aung San Suu Kyi has commissioned an environmental and social impact assessment on the project before making a final decision. According to various environment experts, this dam poses serious threat to the environment.

The dam is located in the northern Kachin state of Myanmar and has a total cost of approximately US $ 3.6 billion. Besides the results of environmental assessment, the opinions of local people and potential effect on foreign investment will also be considered before making a decision.

Environmentalists and protesters have vociferously opposed the construction of the dam because its location is highly controversial. The Myitsone dam's location is near an active seismic fault which means

that once finished it might cause flooding in nearby areas.The dam was designed to send back the vast majority of the electricity produced back to mainland China. The project was awarded to China by Myanmar’s previous Military Government as a reward for supporting it and shielding it from the effects of international sanctions. This decision is going to be tough for Myanmar because it would not want to upset China which even today is the biggest foreign investor in Myanmar.



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NATION NEWS

SWISS GOVERNMENT TO lAUNCH VOCATIONAl TRAINING IN bURMA

The Swiss Embassy has announced that it has decided on a plan to promote vocational training for the youth of Myanmar. This plan has been formulated in collaboration with the Ministry of Education and the Ministry of Labor and Industry. Switzerland’s Ambassador to Myanmar Mr. Paul Seger stated that they target groups to promote vocational skill training to university students, teachers and the private sector. This decision is a part of a series of events that have been planned to acknowledge 60 years of diplomatic relations between Switzerland and Myanmar.

Representatives from the Swiss

Embassy in Myanmar state that their priorities in Burma areto engage in cooperation regarding development and support for the government-led peace process. To show their commitment to the peace process in Myanmar, last year in December 2015 and also in January 2016, Switzerland invited respective delegations from the Karen National Union and the Restoration Council of Shan State to their country for exposure trips relating to Swiss federalism. These two groups are two of the largest nationwide ceasefire agreement signatories.

About the vocational training project, Mr. Seger said that the

Swiss Embassy would spend US $ 5

million in 2017 on a series of skills-

based training in Myanmar. He

plans to target high school students,

teachers, owners and managers of

local businesses, as well as a wide

range of government authorities.

Deputy Director of Cooperation

at the Swiss Embassy Ms. Carin

Salerno,stated that vocational

training for Myanmar’s youth will

focus on the hospitality, beauty and

clothing industries, as well as offer

mechanical skills like welding.

These vocational training will be

promoted through “road shows”

throughout the country in 2017



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RELIGION

RELIGION



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A Visit To Myanmar Temples: Experience Holiness and Thanaka

Myanmar is a Buddhist majority country where Theravada Buddhism is the most practiced religious tradition. This is a

place where pagodas, monasteries, and various other historical structures related to Buddhism thrive in abundance.

When you walk around in Myanmar you will get to see the stunning site of monks dressed in their traditional red robes all

around. In Myanmar, each male is expected to serve as a monk twice in his life. The first time a person joins a monastery

as a novice and the second time he is expected to become an ordained monk.

Shwezigon Temple - bagan, Myanmar

RELIGION

RELIGION



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The people of Myanmar show their true love and respect for Buddha and his symbols not only by keeping him and his teachings in their heart but also through their actions. Buddhists of Myanmar buy gold leaves and apply them to pagodas and Buddhist statues.The magnificent gold-plated Shwedagon Pagoda can be seen shining from anywhere in Yangon. Both rich and poor are equally devoted Buddhists and they believe that building pagodas is a very noble act. Rich people often fund the building of these pagodas. When pagodas get old or damaged they are quickly restored to their original splendor. Numerous people visit pagodas every day and they always follow the rule of going barefoot.

Besides the pagodas and monks another thing that you will immediately

notice in Myanmar is a lot of people walking around with their faces

painted with a yellowish powder. This yellowish substance is called

thanaka and it is an inherent part of Myanmar’s culture. When you visit

a Buddhist temple, the attendant there might apply it to your face as a

ritual. When applied to skin it feels cool and gives a wonderful fragrance.

The people of Myanmar believe it is good for the skin and it matches

their complexion very well.

RELIGION



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The Taunggyi Fire Balloon Festival sets the skies of central Myanmar ablaze every year. These celebrations are a part of Tazaungdaing Festival of Light which is celebrated in November each year to mark the end of Myanmar’s rainy season. It is without doubt one of the most beautiful fireworks celebrations in the world and also the most dangerous.Brightly colored balloons with hundreds of homemade fireworks woven into their frames were sent soaring into the night sky, showering down cascades of sparks onto adoring crowds.These balloons are loaded with explosives and they regularly crash to the ground. It causes panic among the crowds but visitors still stay because they believe that’s the sight is worth the risks.

People travel to the capital of Shan state from various parts of Myanmar and even from various parts of the world to watch these celebrations. The tradition of this way of celebrating is rooted in Buddhism but the hot air balloon contest itself was started by British colonialists in the late 19th century. So, many people are present that it looks like a whole sea of people. Many first timers are amazed and say that they have never seen so many people at one place before. It is really scary when the fireworks fly right at you and sometimes people die too. In 2014, three people were killed when a balloon crashed onto spectators below. A young child also died when a balloon was blown into the family’s tent.Balloon work hard for months to create the most

brilliant spectacle of light in order to win the contest and then they see all their work explode and disappear in minutes.

Besides fireworks and spectacular balloons this festival offers various other exciting experiences as well. Here you can witness a human-powered ferris wheel at the festival’s fairground where workers scamper across the 50-foot high rickety structure like spider monkeys, using their body weight to send it spinning around at extraordinary speed. Some of them dangle from the bars as the ride hurtles toward the ground, while some others swing between the bars upside down as the wheel turns.


Myanmar's Explosive fire balloon festival



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India, Myanmar and Thailand friendship Motor Car Rally, 2016 flagged-off On November 13

stated that this rally will prove greatly beneficial in developing the economic, transport and cultural relations between the three countries. He said that this rally will takeIndian Prime Minister Mr. Narendra Modi’s ‘Act East Policy’ and will improve India’s relationship with neighboring countries. A commemorative stamp for IMT Rally, 2016 was also released on the occasion.

The rally caravan will span a total distance of 5,722 KMs along the IMT Trilateral Highway and 80 participants from all the three countries are participating in it. Participants will travel in 20 Indian

The Minister of State for Road Transport and Highways, Shipping and Chemical Fertilizers Mr. Mansukh Lal Mandaviya flagged off a Friendship Motor Car Rally from India Gate lawns in Delhi. This drivers participating in this rally will travel from Delhi all the way to to Bangkok today. Ambassador of Thailand Mr. Chalit Manityakul was also present on the occasion. This rally is aimed at improving connectivity by road in the South-East Asian region and to sensitize the stakeholders of India, Myanmar and Thailand Motor Vehicle Agreement regarding potential benefits of such a regulatory regime. Speaking on the occasion, Mr. Mandaviya

made vehicles and cover the distance from Delhi to Bangkok in 19 days. Ceremonial flag off will also be held in other cities and state capitals enroute. These cities include Sarnath, Bodhgaya, Patna, Siliguri, Guwahati, Shillong, Kohima and Imphal in India, Began and Yangon in Myanmar and Bangkok in Thailand. The rally that will conclude at Bangkok on 2nd December and it is hoped that sensitize people about the fact that an all-weather road connecting New Delhi and Bangkok would soon be operational. It will show that with the opening of trilateral highway, traveling from New Delhi to Bangkok by road will soon become possible.

MYANMAR - INDIA - THAILAND CONNECT



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ASSAM STATE POWER SECTOR INCURS RS 3,700-CR lOSS

The power sector in Assam is in a tough spot as the accumulated loss of the three public sector power utilities of the State has reached the huge amount of nearly Rs. 3,700 crore. This amount has been calculated since the splitting of the Assam State Electricity Board (ASEB) in 2004, when the power utilities started with a clean sheet.The splitting process of the ASEB was completed in 2007 with the aim to bring the turnaround in the fiscal health of the State’s power sector in 2008-09. It was hoped that these utilities would become self-sustaining but they still continue to incur loss. In the total loss amount of Rs. 3,700 crore, Assam Electricity Grid Corporation Ltd.’s

(AEGCL) share in this amount is around Rs. 442 crore and Assam Power Generation Corporation Ltd.’s (APGCL) share is nearlyRs. 173 crore. The reasons resulting in this grim situation are attributed to various factors including higher transmission and distribution (T&D) losses, lack of transparency in metering and billing activities of the APDCL, lack of accountability and wasteful expenditure.

In case of Assam State Electricity Regulatory Commission (AERC), one of the reasons for incurring such heavy losses is that the tariff awarded to the power utilities is non-remunerative. This means that they are granted a low tariff compared to

the cost of power they supply to the consumers.The transmission and distribution loss in the State’s power sector is 26 per cent presently. An important fact here is that AERC has been fixing the T&D loss target to the APDCL and the AEGCL and only the loss approved by the AERC can be passed on to the consumers.The rest of the loss must be absorbed by the APDCL and the AEFCL themselves.The APDCL meter reading has a lot of flaws which is resulting in huge losses. So, this is one area which needs to be looked into and fixed as soon as possible. Tendency among officials working in the power sector to indulge in wasteful expenditure also needs to be addressed and curbed.

MYANMAR – INDIA CONNECT -NORTH EAST-BUSINESS



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MYANMAR - INDIA CONNECT - NORTH EAST-FINANCE

DEMONETISATION: THE SHORT AND lONG TERM EffECTS ON NORTH EAST AND THE REST Of INDIA

Ever since the demonetization of the Rs. 500 and Rs.1000 notes was announced a huge impact was felt in North East India just like the rest of the country. There are long queues in front of banks, ATM machines and people have to wait a long time to extract a little money (Rs. 2500 maximum and just Rs. 200 in some cases). The ATM’s running dry of Rs. 100 notes, Rs. 500 notes are scarce as of yet and often people get just one Rs. 2000 note that most shop owners refuse to accept as they don’t have enough change to give back. A large number of people travel from their villages to the nearby towns and queue up for cash. Sometimes even after waiting for hours people have to go back empty handed because the ATM runs out of cash before their turn comes. These issues and the resulting problems are making many people question the government for “not having a plan” on how to go about properly executing this bold decision without causing or at least minimizing the inconvenience caused to the common people.

The Indian Government has stepped in and tried to ease up the situation in some cases. For example, in Assam demonetization affected the wages of about 10 lakh tea garden laborers working in over 900 tea gardens. These laborers depend on the wages they get every

weekend for their survival and their employers were unable to pay them because of they were cash strapped due todemonetization.The BJP government in Assam took a step and through “the direct intervention of the prime minister’s office” it helped tea garden owners to immediately access cash worth lakhs of rupees through the local deputy commissioners’ offices. This enabled them to pay their laborers their weekly dues. In Manipur the impact of this decision was felt in an unusual way as people are left with no newspapers. All newspaper offices have been shut from November 17, 2016 onwards. The All Manipur Newspaper Sales and Distribution Association, Newspaper Publishers’ Association and the Editors’ Guildtook the decision to stop the publication of newspapers in the state, since demonetization had dried up the availability of lower-denomination notes with the hawkers and distributors.

People living in the North Eastern region, besides facing the cash crunch also faced severe shortage of fuel and other necessities of daily use from the start of November due to an economic blockade called by the United Naga Council (UNC). Many trucks carrying essential commodities were stuck on the highway. In Mizoram’s Khawbung village a unique strategy is being

utilized to counter the situation. A shopkeeper from this village came up with the idea of handing over ‘I owe you’ chits quoting the amount with a person’s signature to be used for financial transactions to tackle the sudden cash crunch being faced by the villagers. In Assam, people living in villages bordering Bhutan started using Bhutanese currency for transactions. As a result, the value of these currency notes rose by over 20% to match that of Indian rupees. The demonetization effects of demonetization in North East are similar as being faced by the rest of the country. Most of the ATMs are empty and the banks are running out of cash too often.

So, at present demonetization does appear to be a very problematic decision which is causing huge inconvenience to people throughout the nation. Economists are divided in their opinion about this move by the Indian Government. Some of them are welcoming it and think it is a good decision while some others are rejecting it as a very bad idea. While there is no question that the short term impact of this decision is going to cause problems but let’s compare that to what it will do in the long term.



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MYANMAR - INDIA CONNECT - NORTH EAST-FINANCE

We can summarize that in the long term the Indian Government’s plan to turn India into a cashless society is going to benefit us all. It will mean the end of cash hoarders and black money will significantly reduce.

SHORT-TERM IMPACT lONG-TERM IMPACT

GDP Growth GDP growth to be negatively impacted by 0.5-1% due to drop in consumption

With a tax net widening after restriction on cash economy, GDP in the long-term likely to get a boost

Inflation Inflation likely to come down due to low demand owing to liquidity problem

Since effect of lower demand can have a lagging impact on inflation, prices may remain flat or fall in the long term

Interest rates With Banks flush with cash, interest rates may come down in the short-term

If demonetisation boots formal banking and more cash continues to come in the system, interest rates may fall further

G-sec yield Yields likely to fall as liquidity in the banking system means interest rates are likely to fall

Likely to remain flat to positive depending on how inflation plays out and how's the country's fiscal situation

Fiscal Deficit Unlikely to have much impact as most of the gains (RBI surplus, higher tax collections, penalties) will accrue after FY2017.

With likely increase in the size of formal economy, tax collections would improve improving the country's fiscal situation.



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MYANMAR - INDIA CONNECT - NORTH EAST-TOURISM

ASSAM SAfARI EXPRESS SET TO ROll IN fEbRUARYIndian Railways Catering and Tourism Corporation (IRCTC) and Assam Tourism Development Corporation are going start a project from February 2017. This project will provide tourists an opportunity to enjoy the comfort of a semi-luxury train along with the thrill of safaris into the wilderness of Assam. This is a dream project for Assam tourism and as it begins, the Assam Safari Express would start its two trips, back to back, for the first time in the State. The project is in its final stages and the details regarding the cost-component and marketing are being worked out in order to make this package more appealing and cost effective for the tourists. Despite of Assam Safari Express being a semi luxury train, efforts are being made to bring the cost down as much as possible.

Three types of exotic safaris in Assam will be offered to tourists as a part of the package, which will include elephant safari in Kaziranga National Park, jeep safari in Kaziranga National Park and boat safari in Dibru-Saikhowa National Park. The itinerary has already been finalised by both the ATDC and IRCTC which includes a six-night package covering places like Guwahati, Kaziranga, Sivasagar, Tinsukia and Dibru-Saikhowa. After the lowest possible cost has been determined, IRCTC plans to market this package aggressively to both Indian and foreign tourists. The focus will be on highlighting the beauty of Assam along with showcasing this package as an irresistible blend of clubbing comfort and adventure.

KAZIRANGA NATIONAl PARK

DIbRU-SAIKHOWA NATIONAl PARK



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MYANMAR - INDIA CONNECT - NORTH EAST-TOURISM

A motor sport event was organized in Meghalaya in November in an attempt to give a boost to adventure tourism in Meghalaya. The event was held in a town named Tura and it was successful in attracting a lot of adventure sports lovers. This was an initiative of an organization named Tura Motor Sports with the twin objectives of promoting motor sports and tourism as well as highlighting the beauty of the region. The event also hoped to boost up and encourage the local motor drivers. Tura Motor Sports has earlier organized a similar event named 'Bilgaro Challenge 2016' and this motor sport event was its second edition.

Organized under the initiative of Tura Motor Sports, the second edition of 'Bilgaro Challenge 2016', a motor sport event was held to promote motor sport and tourism, besides highlighting the beauty of the region. Many national drivers including the former national champion Mr. Amanpreet Ahluwalia also participated in this two-day event.Mr. Ahluwalia said that he missed the last year’s event but is very happy to participate this time. He praised the organizers for doing a great job and said that he is looking forward to participate next year as well.

MOTOR SPORT EVENT HElD IN TURA, MEGHAlAYA TO PROMOTE ADVENTURE TOURISM

The event included two exciting on track events hill climb and sprint in SUV, above and below 1300 cc diesel for both local and outsider drivers. The competition was really tough in the motor racing category but in

the end former national champion Mr. Ahluwalia proved his mettle by baggingthe first position with total 50 points. Sandeep Sharma from Delhi bagged the second position with 40 points and Ewelson Lyngdoh

from Shillong got the third position with a total 28 points in SUV class.

The first prize in the diesel category was won by Rocky Sangma from Tura with 43 points won the first prize. Sajad Ahmed from Guwahati won the second prize with 40 points and the third position was won by was won by Thasin Ahmed, also from Guwahati, with 30 points.Sandeep Sharma with 50 points secured the first position in above 1300cc category, second position by Thinku Marak with 30 points and the third position by Grahambell Sangma with 30 points. In below 1300cc category Ewelson Lyngdohwon the first position with 43 points, Brandon Bazelely secured the second position with 43 points and Chiborlang Wallang got the third position with 30 points. All the winners were awarded a citation, cash and a trophy.



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While speaking in Mizoram on November 11, 2016 India’s Railway Minister Mr. Suresh Prabhakar Prabhu stated that the proper development of railway network in the region will make North East India a major "destination" instead of being just a transit point as it is at the moment. This was said during an event held to celebrate the laying of the foundation stone of the railway station building at Sairang which is located 20 km north of Mizoram’s Capital Aizawl. He said that North East is a resource rich region and railways will play a great part in the proper utilization of these resources that will lead to a lot of

development. Mr. Prabhu further stated that railways will not only aid in economic development but it will also act as a catalyst to bring a lot of positive societal change.

A well connected railway network will bring the North Eastern region closer to the rest of India. This will eradicate all the problems related to both tapping of the resources in the region as well as supply of the needed goods. Bamboo is an abundant resource in Mizoram and Mr. Prabhu said that Indian Railways is planning to use more bamboo products made in the state and the North East region as a whole in

the Indian railway system in order

to give a boost to the potential

industry. He also said that all the

future railway stations in the country

would from now on be constructed

by including the local ethos in the

design. Mizoram’s Minister of State

for Railways Mr. Rajen Gohain was

also present at the event and he said

that the new broad gauge line from

Bairabi to Sairang was a part of the

Indian Railway's vision to connect all

the capitals of North Eastern states

through broad gauge line by 2020.

RAIlWAY MINISTER MR. SURESH PRAbHU STATES RAIl NETWORK WIll MAKE NORTHEAST INDIA A 'DESTINATION'

MYANMAR - INDIA CONNECT - NORTH EAST- CONNECTIVITY



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India’s Union Railway Minister Mr. Suresh Prabhu laid the foundation of the longest safety rail tunnel in the country on the Jiribam-Tupul-Imphal rail project in Manipur on November 10, 2016.The 111-km-long Jiribam-Tupul-Imphal new broad gauge railway project was taken up in 2008 and was declared a national project. Until now the longest safety tunnel in India is the PirPanjal tunnel on the Banihal-Qazigund line which is 11.2 km long.The safety tunnel of Tunnel Number 12 will be 11.55 km long which will surpass the PirPanjal Tunnel. On this occasion Mr. Prabhu also laid the foundation of a station

building at Tupul and announced commencement of work on the second portal of Tunnel Number 12. The event was held on the parade ground of 1 Manipur Rifles located in Imphal city.

While speaking on the occasion, Mr. Prabhu stressed upon the commitment of Central Government to provide rail connectivity to the North East. He further stated that North East India has great potential for tourism and the Government of India is making various provisions to improve the infrastructure in the region. Increase in tourism will provide various job opportunities to

the people living in the region. The Governor of Manipur, Ms. Najma Heptulla was also present on the occasion and said that the Jiribam - Tupul - Imphal railway project is extremely important as it will provide an alternative means of transport in Manipur state which has a very difficult terrain. She believes that the ease of connectivity provided by the completion of this project will naturally result in the improvement in the economic state as well. A 12.5-km section from Jiribam to Dholakhal has already been completed and commissioned for freight trains in March 2016.

MANIPUR GETS COUNTRY'S lONGEST SAfETY RAIl TUNNEl

MYANMAR - INDIA CONNECT - NORTH EAST- CONNECTIVITY



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The signing ceremony of the Exchange of Notes (E/N) for “The Project For Reconstruction Of Bridges On Primary National Highway Number 4” was heldin New Delhi, India on December 16, 2016. In this ceremony, the E/N was signed between the Ambassador of Japan to Bhutan, Mr. Kenji Hiramatsu and the Ambassador of Bhutan to Japan, Mr. Vetsop Namgyel. This project aims to reconstruct bridges on the primary national highway and has a total budget of 2,156 Million Yen.

In a press release issued by the Embassy of Japan, it was stated that the Government of Japan hopes that the Grant Aid will ensure efficient and stable transportation between the two countries which will help to further strengthen the relations of friendship and cooperation between Japan and Bhutan. These two countries are celebrating the 30th anniversary year of the establishment of their diplomatic relations

2.1 bIllION YEN GRANT fOR bHUTAN

BHUTAN



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BHUTAN

INDIA AND bHUTAN SIGN NEW bIlATERAl TRADE AGREEMENTOn November 12, 2016, India and Bhutan signed a new bilateral trade agreement which will help to enhance trade between the two countries. The agreement is aimed at making trade easier by making improvements in the existing procedures. An official statement issued by the Indian Commerce Ministry stated that this bilateral agreement will focus on reducing the documentation required and also on adding more exit and entry points for Bhutan’s trade with other countries. It is expected that the signing of this agreement will not only provide a boost to trade but also further strengthen the already wonderfully cordial relations between the two countries.

The agreement was signed by India’s Commerce and Industry Minister Ms. Nirmala Sitharaman and Minister for Economic Affairs, Bhutan Mr.Tengye Lyonpo Lekey Dorji. A bilateral meeting between Ms. Sitharaman and a high level Bhutanese delegation led by Mr. Dorji also took place. In this meeting various issues related to bilateral trade, transit and investment were discussed.The first agreement on trade and commerce between Bhutan and India was signed in 1972 and it has been renewed four times since then. The last agreement was renewed on July 28, 2006 and was valid till July 29, 2016. Its validity was later extended for a period of one year or till the date of coming into force of the new agreement, whichever is earlier.

PRIME MINISTER Of bHUTAN MR. TSHERING TObGAY

INDIA’S COMMERCE AND INDUSTRY MINISTER MS. NIRMAlA SITHARAMAN



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BANGLADESH



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BANGLADESH

bANGlADESH HOPES TO RECOVER $ 30 MIllION MORE fROM CYbER HEIST

Bangladesh's Central Bank received a big jolt when some hackers succeeded in using stolen bank credentials to steal US $ 81 from its account at the New York Federal Reserve in February 2016. Hackers used the stolen information with hopes to try to steal US $ 1 billion by sending three dozen SWIFT messages. All of their attempts were not successful but they still succeeded in transferring US $ 81 million to four accounts at Rizal Commercial Banking Corp. in Manila. Most of this money has already been laundered through the casinos located in Manila, Philippines. However, US $ 30 million out of this amount remains frozen at Rizal Commercial Banking Corp.

This case was brought up in the Philippines’ Supreme Court and it has already been proved that the transferred amount of US $ 81 million belongs to Bangladesh Bank. A team from Bangladesh was to visit Philippines in October, 2016 in order to get the process of getting back the frozen US $ 30 million back but the tour was canceled due to some internal reasons. On November 11, 2016 Philippine authorities began the process of handing over $ 15.25 million to Bangladesh. The Deputy Governor of Bangladesh Bank, Mr. Abu Hena Mohammad Razee Hassan, who also heads the bank’s Financial Intelligence Unit has stated that he is hopeful in getting back the full US $ 30 million which was frozen before it could be laundered.

bANGlADESH bANK bUIlDING IN RANGPUR



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BANGLADESH

DAMODAR VAllEY CORPORATION’S KOlKATA OffICE bUIlDING

DAMODAR VAllEY CORPORATION EYES SEllING

POWER TO bANGlADESH

The Damodar Valley Corporation (DVC) is eyeing to sell at least 500 MW power to Bangladesh. DVC is a three-way joint venture of the West Bengal, Jharkhand and Indian governments. Officials from the corporation have stated that at present selling power to Bangladesh is offering better returns than the Indian power market. A proposal has already been sent to the Government of Bangladesh by the corporation. DVC currently has a power surplus of 1200 MW and additionally its new unit in Bokaro, Madhya Pradesh is also going to get commissioned soon. Bangladesh first expressed interest in importing power from

India in the year 2013. At that time DVC was not in the picture and the bidding was done by National Thermal Power Corporation (NTPC) and the West Bengal Power Development Corporation (WBPDC).

At present India is already supplying 500 MW of power to Bangladesh through the Berhampur-Bheramara grid link. DVC believes that another 500 MW can easily be supplied through the same link and this power will prove to be much cheaper as compared to other alternatives for Bangladesh as well. Bangladesh is deeply interested in importing power from India to meet the existing wide

gap between the demand and supply of electricity. The country also wants to get rid of its expensive and highly polluting diesel-fueled power generation units and replace their output with the power obtained from India instead.DVC is currently facing a debt crisis which has halted its plans to become a 10,000 MW power company. The coming to fruition of DVC’s plans will be a win-win for both parties as the corporation will get an opportunity to earn some revenue while Bangladesh will be able to lessen its power deficit at a cheap price.



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MYANMAR MATTERS · myanmar matters vol 12: june - july 2015 celebrating democracy’s we wish our...

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