Myanmar’s parliament has elected Htin Kyaw as the country’s next president, the first civilian leader after more than 50 years of military rule.
Htin Kyaw is a close ally of Aung San Suu Kyi, whose National League for Democracy (NLD) party swept to victory in historic elections in November. He said his appointment was “Aung San Suu Kyi’s victory”. Ms Suu Kyi is barred from the post by the constitution, but has said she will lead the country anyway.
Myanmar officially the Republic of the Union of Myanmar and also known as Burma, is a sovereign state in Southeast Asia bordered by Bangladesh, India, China, Laos and Thailand. The country’s 2014 census revealed a much lower population than expected, with 51 million people recorded. Myanmar is a country rich in jade and gems, oil, natural gas and other mineral resources. In 2013, its GDP (nominal) stood at US$56.7 billion and its GDP (PPP) at US$221.5 billion.
Recent Development in Myanmar:
Myanmar has granted operating licenses to four Asian banks, bringing to 13 the number of foreign banks allowed to conduct business in the previously isolated country. Bank for Investment and Development of Vietnam, State Bank of India, Taiwan’s Sun Commercial Bank and South Korea’s Shinhan Bank, these are the four bank were granted preliminary licenses, Myanmar’s Foreign Bank Licensing Committee
- Htin Kyaw won with 360 of the 652 votes cast in the two houses of parliament, with MPs erupting into applause when the result was announced.
- He is an ethnic Mon-Bamar who had been mentioned as a possible presidential pick after the 2015 election while National League for Democracy leader Aung San Suu Kyi is constitutionally barred from the presidency.
So lets do:
- Who is the President of Myanmar?
- Which Indian Bank get operating licenses from Myanmar Govenment?
Source – The Hindu