Myanmar welcomes 2013 with first public countdown as it emerges from decades of isolation

YANGON, Myanmar - Myanmar is ringing in 2013 with its first public New Year's Eve countdown and a grand fireworks display, a celebration unprecedented in the former military-ruled country.

The party is the latest, and perhaps most exuberant, example of the country's emergence from decades of isolation.

The Myanmar Times (Dec 24 -30 2012)

Int’l Food and Machinery Expo 2013 to be held in Yangon

Yangon will hold the first food expo of Myanmar, named “Int’l Food and Machinery Expo 2013” in coming January 24 to 27.

Top 30 local companies and those 165 international companies under Japan Food Manufacturing and Machinery Association (FOOMA) will display both famous traditional foods and a variety of international ones during the expo.

India's largest dairy firm plans to export milk powder

An Indian dairy firm has proposed to export skimmed milk powder to Myanmar, according to the Ministry of Commerce.
 

Gujarat Cooperative Milk Marketing Federation (GCMMF) planning to export Amul branded skimmed milk powder is India's largest exporter of dairy products. It has received the APEDA Award from Government of India for Excellence in Dairy Product Exports for the last 13 years.

Commerce Ministry issues GSP Certificate of Origin to exporters

The Ministry of Commerce is now issuing recommendation for Certificates of Origin for GSP (Generalized System of Preference) to local exporters, which is the European Union’s tariff preferences granted to the developing countries, the minstry said.

 

People can register as import and export entrepreneurs at the ministry, obtain the export licences and apply for GSP if the country, to which the products are exported allows GSP benefits.

Rice price insurance to avoid market crash

Myanmar Farmers Association (MFA) has submitted a proposal to Thein Sein’s government to set up a rice price insurance program recently that will protect rice market crash.

Protecting farmers from potentially disastrous losses and rice market crash, MFA urges the government to buy rice from producers and farmers with rice price insurance.

Local rice price has dropped  down to US$350 per 1050 kg as well as the global rice market seems declining.

Govt to buy 30,000 tonnes of rice for state reserve

The National Rice Reserves Supervisory Committee of Myanmar will buy 30,000 tonnes of rice before January 2013, according to Ye Min Aung, secretary of Myanmar Rice Federation.

It will buy up a kind of rice called ‘Ematha (25% broken)’ on tender basis in Yangon region with the closing date on January end, 2013, he said.

Visa moves too fast for Myanmar bank

Visa cards are accepted at about 90 automatic teller machines operated by Co-operative Bank and Kanbawza Bank throughout the country, Visa Inc announced last week.

But while KBZ reports that operations with Visa are running smoothly, CB is waiting for Visa to repair technical problems that come amid a heavy volume of customer complaints.

From December 26, Visa cardholders could access cash in Yangon and at other major tourist destinations, covered by CB and KBZ banks’ combined Visa ATM network, Visa said.

The fiscal year in review: 2012 - 2013

The government’s efforts to reform the long-dormant economy and tackle endemic poverty through 2011 and 2012 have failed to reach the intended targets, sources said last week.

Since the new government took power in March 2011, the government has swiftly liberalised the economy by cutting red tape for import/export businesses, allowed domestic banks to open automatic teller machines and partner with foreign lenders to offer international transfers, opened the car and cooking oil import markets, enacted an amended foreign investment law and repeatedly invited foreign investment.

Mandalay property market to remain unstable

The property market in Mandalay is on the decline and is expected to lag again in 2013 from high prices and a lack of buyer interest in the city’s outskirts, property brokers said last week.

Property prices in Mandalay’s undeveloped areas on the outskirts of the city, particularly in Chanmyatharsi and Pyigyitagun townships, had doubled or even tripled in late 2011. Experienced brokers described the price boom as an “unnatural market”.

Shwe Taung announces plans for mega office complexes

In another boost to Yangon’s business infrastructure as the country awaits a further influx of foreign investment, Shwe Taung Development Company is pressing forward with two new office-block complexes.

The Shwe Taung International Commercial Centre (SICC), at the intersection of Mahabandoola and Theinphyu Roads in downtown Yangon is already 70 percent leased, the company says.

Yangon’s Aung Mingalar highway station to get upgrade

The Yangon City Development Committee has announced a two-year plan to upgrade the Aung Mingalar highway bus station, a city official announced last week.

“The first stage of our plan is to improve the highway station. After that, we will upgrade the highway station to international standards,” said U Nyan Tun Aung, a YCDC official.

New Light of Myanmar (31 Dec 2012 - Monday)

Myanma Alinn Daily (31 Dec 2012 - Monday)

Myanmar steps up illegal trade control

Myanmar authorities are stepping up control of illegal trade at region and state levels and surprise checks are being done on such trade which is warned as an obstacle to economic development of the country, official media reported Sunday.

Chairman of the Central Committee for Control of Illegal Trade U Win Myint, who is also minister of Commerce, was quoted by the New Light of Myanmar as warning that illegal trade on inferior goods are harmful to consumers.

Aso to travel to Myanmar, meet president Thein Sein

Japan's deputy prime minister, Taro Aso, travels to Myanmar this week for talks with President Thein Sein to boost relations with the rapidly transforming country and support Japanese business interests in the region.

Aso, who doubles as finance minister, meets Thein Sein and his opposite number Win Shein in the capital Naypyitaw on Jan. 3 in the first high-profile overseas visit by a member of Tokyo's new Cabinet since it took office last week.

Gas project to continue despite criticism

The Shwe Gas project and pipeline construction in western Myanmar will continue, the government said, although many people are demanding its temporary suspension for not having properly assessed the environmental and social impacts of the project.

Project manager Cheng Huan Lai said that it may be able to start the export of natural gas from the project in Rakhine state to China latest by May 30, 2013, and oil by September 30, through two Myanmar-China pipelines of about 800km length. Pipeline constructions will be complete before the May 2013 deadline.

Japan-based bank to assist banking system in Myanmar

The Bank of Tokyo Mitsubishi UFJ (BTMU) will assist the banking services of Cooperative Bank (CB Bank, Myanmar), Phay Myint, CB Bank’s managing director said on December 27.

A memorandum of understanding was signed by Bank of Tokyo Mitsubishi UFJ and CB Bank at Sedona Hotel, Yangon, on December 27.

CB Bank was established in 1992, with 25 local branches, and head office located in Yangon.

New Light of Myanmar (30 Dec 2012 - Sunday)

Myanma Alinn Daily (30 Dec 2012 - Sunday)

Daiwa Institute of Research, Fujitsu, and KDDI Build Myanmar's First Cloud-Computing Environment (System Overview)

Overview of the Computing Environment

This particular computing environment is a thin client system employing DIR's THiNC desktop virtualization solution, which has a proven track record in a host of applications within the Daiwa Securities Group. The system platform for THiNC utilizes a cloud environment that is designed, constructed, and operated in compliance with the Alliance Cloud, a standardized cloud model certified by the Global Alliance for User-driven Cloud Computing. A virtual desktop environment will be accessible from each thin client terminal and applications needed for carrying out word processing and work on spreadsheets will be available for use just like on regular computers.

Daiwa Institute of Research, Fujitsu, and KDDI Build Myanmar’s First Cloud-Computing Environment

Deployed to the Central Bank of Myanmar, cloud-enhanced operating efficiency will contribute to development of the nation’s financial markets

Daiwa Institute of Research Ltd. (DIR), Fujitsu Limited, and KDDI Corporation today announced that they have collaborated to build the Republic of the Union of Myanmar’s first cloud computing environment. Built for the Central Bank of Myanmar, the new cloud environment is designed to improve efficiency in the bank’s operations. It consists of a private cloud platform designed, constructed, and operated in compliance with the Alliance Cloud, a standardized cloud model certified by the DIR-led Global Alliance for User-driven Cloud Computing, as well as a desktop service that features security countermeasures.

Century Plyboards to set up unit in Myanmar

Century Plyboards (India) Ltd (CPIL) will commission its 25,000 sq metres a day plywood unit in March in Myanmar capital Yangon.

“We are setting up the unit on 11 acres in an industrial estate on a 30-year renewable lease. Work on putting up the units is currently on,” Sajjan Bhajanka, Managing Director, told Business Line here on Saturday.

Myanmar lifts import tax under Asean trade deal

Myanmar has waived over US$4.7 million of import tariffs on goods from Association of Southeast Asian Nations (Asean) member countries.

The Ministry of Commerce said it has given the tax relief from 2012-2013 to Asean countries that import goods certified under the Asean Trade in Goods Agreement (ATIGA). The agreement aims to liberalise and trade and investment in Asean with the goal of reaching a single market base with free flow of goods by 2015.

Myanmar to allow private daily newspaper publication

YANGON, Dec. 28 (Xinhua) -- Myanmar will allow free publication of private daily newspapers staring April 1 in addition to the state-owned ones, according to an announcement of the Information Ministry Friday.

Any national language of Myanmar as well as any foreign language will be allowed for such publication, the announcement said, adding that application for such move can be made to the ministry starting Feb. 1 and the publisher shall be Myanmar citizen or naturalized Myanmar citizen.

Myanmar Travel Directory by UMTA

New Light of Myanmar (29 Dec 2012 - Saturday)

Myanma Alinn Daily (29 Dec 2012 - Saturday)

Dawei commitment opens door to real estate boom

The real estate market in Tavoy is booming since Burmese President Thein Sein and Thai Premier Yingluck Shinawatra visited the Dawei Special Economic Zone (SEZ) earlier this month, local realtors say.

“There is a fresh market demand on real estate located on the side of the Kamyawkin Road at the entrance to the town,” said real estate agent Soe Thein, speaking of Tavoy, officially known as Dawei, a town with a population of some 150,000 located on the Andaman coast in Burma’s southern region of Tenasserim Division.

Illegal trade to be taken legal action at Jan 1

Border trade centres will take legal action against illegal traders starting January 1, 2013, the Ministry of Commerce said.

The Department of Border Trade under the Ministry of Commerce formed mobile teams to control illegal border trade. The teams have imposed tighter trade rules since November in the trade routes of Muse-Mandalay and Myawaddy-Yangon; and since December in Muse, Chinshwehaw, Tachileik, Myeik, Kawthoung, Tamu, Reedkawdah border trade centres.

Firm carries out EIA on Rakhine hydropower project

Shwetaung Company is carrying out environmental impact assessment on Saidin hydropower project in Buthidaung Township in Rakhine State, sources said.

The project has had no progress and was suspended since last year due to shortage in government funds, they said.

Myanmar’s rice prices drop amid export ban

Rice prices in Myanmar drop due to shrinking export to Bangladesh, according to sources of paddy traders.

Both illegal and legal trades between Myanmar and Bangladesh have been suspended since the communal violence in Rakhine State in June.

Although some of the regular legal goods can export to Bangladesh since the end of October, the illegal trade is still banned and local rice prices are down due to the banning of illegal trade, according to sources.

Myanmar to apply for EITI membership

Myanmar is preparing to apply for membership of Extractive Industries Transparency Initiative (EITI) by December next year in the latest, according to economist Dr. Zaw Oo.
Membership of EITI, which increases transparency over payments by companies from the oil and mining industries to governments and to government-linked entities, will help ensure transparency in the country’s extractive industries, especially that of oil and gas, Zaw Oo said on December 23.

New Light of Myanmar (28 Dec 2012 - Friday)

Myanma Alinn Daily (28 Dec 2012 - Friday)

Myanmar, Japan sign grant aid projects for country's development

YANGON, Dec. 28 (Xinhua) -- Myanmar and Japan signed three grant aid projects on communication networks, food security and non-project grant aid in Nay Pyi Taw Friday, according to press release issued by the Japanese Embassy to Myanmar.

The grant aid projects amounting 2.74 billion yen (31.75 million U.S. dollars) include "Project for Urgent Improvement of Communication Networks", "Food Security Project for Underprivileged Farmers" and "Non-Project Grant Aid", the release said.

My Kind of Place: Yangon, Myanmar

Why Yangon?

 

Yangon may present a dilapidated air after decades of neglect by Myanmar’s military junta but it has a lot more character than Asia’s modern high-rise cities.

Laid out by the British as a garden city a century ago, the redbrick government offices, churches and mock-Tudor mansions stand in flower-filled gardens beneath spreading shade trees. And, at its heart, the 1,000-year-old -Shwedagon Pagoda, a glittering golden, bell-shaped stupa, still dominates the skyline.

Myanmar in countdown mode

YANGON, 27 December 2012: Myanmar will host its first New Year Countdown from 1700 to midnight 31 December at Minor Myo Ma Grounds in Yangon.

The New Year Countdown will be organised by Thailand’s Index Creative Village responsible for the AIS Bangkok Countdown2013 @ Central World. It is working with Forever Group, a media company in Myanmar.

Vietnam on board for Burmese fisheries tasks

The Myanmar Fisheries Federation has announced that local entrepreneurs will cooperate with Vietnamese investors in the livestock and fisheries sectors.
Burma’s Deputy Minister for Livestock and Fisheries held talks with a 10-member delegation led by the Deputy Minister of Agriculture and Rural Development of the Socialist Republic of Vietnam Ms. Nguyen Thi Xuan Thu on December 24.

US, Myanmar to smoothen bilateral trade in 2013

Myanmar has been in talks with the US to smoothen bilateral trade in 2013, according to the Ministry of Commerce.

Officials said although President Barack Obama lifted import ban on Myanmar last month, the US Congress still needs to affirm details of trade policies for import.

22 items make way to Myanmar-India border trade

Rice, wheat, corn, medicines and 18 other goods have been added to the list of goods for trade at Myanmar-India bordering areas, according to the ministry of commerce.
 The Indian Directorate General of Foreign Trade made the decision, which raised the number of border trade items to 62, public through a notification last month.

7 firms in shortlist for Mandalay Airport upgrade

Myanmar’s Department of Civil Aviation announced that seven companies qualified in the first phase of tender for the upgrade of Mandalay International Airport.

Among 16 applicants, the seven companies were chosen based on financial resource, experience records, technical know-how and the use of equipments.

The seven main companies are Mitsubishi-Jalux in association with SPA (Japan), Munich Urban Forntier Aung Myanmar Essar (Germany), ITNL International Pte.,Ltd (Singapore), China Habour Engineering Co.,Ltd (China), AVIC International Holding Corporation (China) and VINCI Airport (France).

Myanmar banks join Visa ATM network

Yangon - Visa today announced that Visa cards will now be accepted at nearly 90 ATMs operated by Co-operative Bank and Kanbawza Bank across Myanmar.  
Nearly 90 ATMs operated by Co-operative Bank andKanbawza Bank in Myanmar will begin accepting Visa cards.

Myanmar’s Central Bank Heads for the Cloud

Myanmar’s central bank is headed for the cloud.

After decades of performing the bulk of the Central Bank of Myanmar’s work longhand, a trio of Japanese companies are pushing the institution to the technological cutting edge. The three companies — Daiwa Institute of Research Ltd Fujitsu 6702.TO +1.11% Limited and KDDI Corp. 9433.TO +0.82% — collaborated to build the Southeast Asian country its first Internet-linked computing platform in an attempt to help the central bank’s antiquated systems keep pace with Myanmar’s rapid change.

Myanmar garment industry to enjoy GSP in 2013

Garment industry in Myanmar will benefit from the generalised system of preferences (GSP) of the European Union starting from 2013, according to the Myanmar Garment Association.

The tax advantages gained from GSP are attracting more investments from South Korea, Japan and Thailand.

New Light of Myanmar (27 Dec 2012 - Thursday)

Myanma Alinn Daily (27 Dec 2012 - Thursday)

New Light of Myamar (26 Dec 2012 - Wednesday)

Myanma Alinn Daily (26 Dec 2012 - Wednesday)

BIZ BRIEF: Myanmar Central Bank modernizes with Japanese cloud network

Daiwa Institute of Research Ltd., Fujitsu Ltd. and KDDI Corp. said Dec. 25 they have built an online computer system for the Central Bank of Myanmar and that, in doing so, they have created the country's first cloud data-storage environment.

The companies said the new system was designed to improve efficiency at the bank, where many operations have traditionally been performed by hand.

Myanmar is currently trying to modernize its financial sector by creating institutions such as a stock exchange.

Travel & Trade Expo to be held in January

Rangoon will host the First Myanmar Travel & Trade Expo 2013 at the Myanmar Convention Center on Mindhamma Road from January 11 – 14, 2013.

“Tour companies, airlines, hotels, rent-a-car companies, bus companies—in all, some 250 companies will be represented at the exposition”, said spokesperson Kyaw Min Oo.

Myanmar pushes development of Yangon port

YANGON, Dec. 25 (Xinhua) -- Myanmar is pushing development of Yangon Port, working for upgrading the Yangon port region into an international standard one as part of its plan for urbanization of the commercial hub of Yangon.

Local and foreign investment have been invited for the development of Yangon Port which is being undertaken under four programs.

High land prices obstacles to foreign investment

Two Japanese and Thai companies are interested in setting up fishing net factory in Myanmar but find the high land prices as a major obstacle, said a top official of Myanmar Fisheries Federation.

Delegations of Missouri Fishing Company of Japan and Thai Fishing Net Industry Company Ltd expressed their interest during a discussion with local officials at Myanmar Fisheries Federation office on December 18.

Myanmar company invites tenders for machine import

Myanmar Agribusiness Public Corporation Limited (MAPCO) will build five factories to produce value-added rice and rice-related goods, and it has invited tenders for machine import, officials of the MAPCO said.

One industrial unit will be comprised of sub-factories such as steamed rice mill, white rice mill and vermicelli factories.

Myanmar profits from rice export

Myanmar has earned more than US$340 million from rice export three months ahead of the end of 2012-13 fiscal year, according to the Ministry of Commerce.

The country’s rice export volume three months ahead of the end of the fiscal year has already surpassed the total export volume of the previous fiscal year, the ministry said.

By December 14, Myanmar had exported over 874,000 tons of rice worth US$ 343 million, up from the 791,087 tons in the 2011-12 fiscal year.

Vietnam firm invests $300m in Myanmar

A Vietnam-based company will be investing US$300 million for a hotel and business complex in Yangon.

Sources at the Ministry of Hotels and Tourism said Hoang Anh Construction & Development House Joint Stock Company will be building the Hoang Anh Gia Lai Myanmar Centre, which includes a world-class hotel with 414 guestrooms, meeting rooms and other facilities, and a business centre with supermarkets, shopping malls, restaurants, recreation centres, offices and apartments.

European buyers keen about Myanmar’s plastic bags

Some European buyers have expressed their interest to import plastic shopping bags from Myanmar, according to local company.

“Some buyers came here and discussed with us about importing plastic bags. They need shopping bags,” said Hla Win, managing director of Lucky Bird which produces plastic bags.

Myanmar firms get ISO, HACCP certificates

Nine local companies have got ISO (International Standard Organisation) and HACCP (Hazard analysis and critical control points) certificates.

GlobalGROUP Myanmar, a third party certification, inspection and notified body, awarded the certificates on December 18.

The department of fisheries laboratory got ISO 17025:2005 certificate, which is a recognition of the fulfilment of competence of testing and calibration laboratories.

KTB ups Myanmar presence; big firms, JVs in focus

Krungthai Bank has broadened its network in Myanmar with a focus on large local firms and joint ventures.

KTB president Vorapak Tanyawong said yesterday that Myanmar was one country outside Thailand that bore close observation because of growing investment and border trade.

Paletwa port construction resumes

Paletwa port construction has resumed from its suspension for the bad weather in rainy season, sources said.

The port is expected to become a transit centre in the free flow of goods between Paletwa in Chin States and Sittway, and link Sittway to the land-locked region of Mizoram State in northeastern India via river and road transport.

New Light of Myanmar(25 Dec 2012 - Tuesday)

Myanma Alinn Daily(25 Dec 2012 - Tuesday)

Global audit firms to enter Myanmar

Global audit firms are now entering Myanmar market which has been isolated for decades and recently opened up, sources reported.

Among them, two of “the Big Four auditors” of the world or the world largest professional service providers, the Deloitte, and the Ernst & Young are planning entry into Myanmar, an observer said.

International Corporations to invest in Myanmar’s infrastructures

International corporations and businesses are eyeing investment opportunities in infrastructure of the country, businessmen said recently.

Foreign companies of various sizes are bidding tenders for state projects undertaken for infrastructural development, a local businessman running joint-ventures with foreign companies said.

HTC to open showrooms in major cities

Taiwan-based HTC will open soon its authorized sales and service centers in Yangon and Mandalay according to KMD Company.

Of five sales centers in Myanmar, there will be three in Yangon and two in Mandalay according to HTC.

Index Creative Village focus turns to Myanmar

Index Creative Village aims to lift the standards of the event-organising industry in Myanmar, seek more business opportunities in Vietnam and expand to other Indochina countries in the future.

The company has already established a presence in Myanmar as Myanmar Index Creative Village. MICV, together with its local partner Forever Group, recently launched a Bt35-million project to organise Myanmar's first-ever New Year's countdown.

SMS banking System to launch

Short message service (SMS) based mobile banking system will introduce to Myanmar, a source said.

Lack of data line service (internet) ability in CDMA 450, mobile SMS banking software will be used.

Mobile banking is a 24/7 banking service that provides balance check, account transfer, payment, credit application and other banking transaction through a mobile phone device.

Thailand's BGH to move into Myanmar

Thailand's largest hospital group will set up a hospital in Myanmar next year to profit from the country’s expanding economy, a senior company official announced last week.

Dr Chatree Daungnet, vice president and chief executive of Bangkok Dusit Medical Services Plc (BGH), told the Bangkok Post on Saturday, December 22 that the company hopes Myanmar will improve regulations related to acquiring land, transfering money and business ownership by the time BGH establishes a local branch in 2013.

Thilawa to open in 2015, Myanmar touts job creation

The development of the Thilawa Special Economic Zone will create new jobs and aid poverty alleviation efforts, a senior government official said last week at the signing of an agreement between Myanmar and Japan to start developing the zone next year.

The Memorandum of Cooperation will strengthen ties between Myanmar and Japan through the development of the Thilawa SEZ, one of the three zones under construction in Myanmar, Deputy Minister for National Planning and Economic Development U Set Aung said at the signing ceremony in Yangon on Sunday, December 21.

Myanmar, Thailand court Japanese investment in Dawei

Leaders of Myanmar and Thailand last week agreed to invite Japan as a third investor in the floundering Dawei project during a visit to the area.

President U Thein Sein and Thai Prime Minister Ms Yingluck Shinawatra visited the Dawei Special Economic Zone on Monday, December 17 and discussed ways of accelerating the project as well as issues related to telecommunications, electricity, environmental conservation and investment.

Myanmar's gas, electricity price on the rise as Ministry faces millions in losses

The Ministry of Electric Power is set to compensate for an estimated K368.952 billion (US$430 million) loss in the 2013-2014 fiscal year by increasing the price of electricity and natural gas, senior representatives of Myanmar Electric Power Enterprises (MEPE) announced last week.

Companies vie for Mandalay airport tender

From white elephant to regional transport hub: that’s the challenge for seven consortiums prequalified to tender for a contract to upgrade, operate and manage Mandalay International Airport as part of a public-private venture.

The Ministry of Transport’s Department of Civil Aviation announced the list of seven consortiums, selected from 16 applicants, in the Monday, December 17 edition of the state-run New Light of Myanmar.

Japan edges towards first equity investment in Myanmar's power T&D

Meidensha Corporation (MEIDEN) has moved into Myanmar, signing a technical transfer agreement with Asia General Electric Co, Ltd (AGE) and a Memorandum of Understanding between AGE and Japan’s Metal One Corporation, MEIDEN’s President and CEO Junzo Inamura announced last week.

On Monday, December 17, the Tokyo-based electronics equipment maker signed with AGE, a national transformer manufacturing and sales company, to build a local network for power transmission and distribution.

Thais tie up a new net factory deal

Thailand-based Mitsui Company is in talks with the Myanmar Fisheries Federation (MFF) to invest in Myanmar’s first fishing net factory, an MFF representative said last week.

“There is no fishing net factory in Myanmar, so fishermen and fish farmers are faced with many difficulties. There will be a factory coming soon,” MFF member U Han Htun announced on Tuesday, December 18.

A fishing net factory had originally been planned for construction in Yangon’s In Sein township in 1972. However, the construction was never eventuated and local fishermen have had no other option but to buy expensive fishing nets from neighbouring countries, according to the MFF.

source: The Myanmar Times
http://www.mmtimes.com/index.php/business/3629-thais-tie-up-a-new-net-factory-deal.html

Japan's NEC to open offices in Myanmar: report

TOKYO (Nikkei) -- NEC Corp. (6701.TO, NIPNF) will expand into Myanmar in anticipation of growing demand for building information technology infrastructure as more Japanese manufacturers and retailers move into the Southeast Asian nation, the Nikkei reports in its Dec. 24 edition.

The company plans to open its first Myanmar branch next month in Yangon, the country's largest city. Another office is expected to be set up in the capital, Naypyidaw, in the spring.

Yamaha plans Myanmar sales unit

IWATA, Shizuoka Pref. — Yamaha Motor Co. is planning to set up a motorcycle sales unit in Myanmar next year, President Hiroyuki Yanagi announced.

The company's annual motorbike sales at present amount to just a few thousand units in Myanmar and are conducted through local agents, but Yamaha opened a representative office in Yangon this autumn and is looking to grow its local operations.

Yamaha "will advance to the next stage next year," Yanagi said in a joint media interview Friday at the firm's headquarters in Iwata, Shizuoka Prefecture.

Yanagi said there will be no need to build a plant in Myanmar for the time being, citing factors including the rapidly emerging country's extremely low tariffs on imported motorcycles, which can be as little as 5 percent.

 

source: Japan Times

http://www.japantimes.co.jp/text/nn20121223b3.html

New Light of Myanmar(24 Dec 2012 - Monday)

Myanma Alinn Daily(24 Dec 2012 - Monday)

Visa card introduced in Myanmar private banks

YANGON, Dec. 22 (Xinhua) -- Visa cards have been introduced at two private banks in Myanmar starting from Friday in a bid to facilitate foreign travelers in domestic payment, local media reported Saturday.

The two Myanmar private banks are Kanbawza Bank and Cooperative Bank (CB), said the Voice News.

Sompo Japan keen on diversification in Myanmar insurance market

Japan’s second-largest insurance company, Sompo Japan, is eager to diversify its markets into different insurance types in Myanmar.

On December 11, a “Reinsurance Protection & IT System” workshop was held in Yangon, by Myanmar Insurance Enterprise and Sompo Japan Insurance Inc.

Thai chamber seeks investment opportunities in Myanmar

The Thai Chamber of Commerce discussed investment possibilities in regional businesses with the regional government of Mon State in lower Myanmar, and its ethnic traders and industrialists on December 19, sources reported.

The 19-member business delegation visited the region early that morning and held a meeting in the afternoon with the executive members of the Mon Traders and Industrialists Association.

Local bank starts remittance services on Dec 14

Cooperative Bank (CB) has linked up with the America-based international money transferring service Western Union for remittance to more than 200 countries, starting from December 14, a representative from CB bank said.

“We signed a contract with Western Union and started to transfer money overseas on December 14. Transferring money to Myanmar is fast now. The service charge depends on the amount of money transferred. Western Union get 75 per cent and CB bank 25 per cent of the service charges,” Pe Myint, CB bank managing director, said.

New Light of Myanmar(23 Dec 2012 - Sunday)

Myanma Alinn Daily(23 Dec 2012 - Sunday)

Myanmar invites India to invest in infrastructure, power

Mumbai, Dec 22 (IANS) Myanmar offers great opportunities for Indian business community to invest in infrastructure and power projects, visiting Myanmar President U. Thein Sein said here Friday.
In a closed-door session, organised by Confederation of Indian Industry (CII) late Friday, President Sein invited Indian businesses to also explore options in agriculture.

BGH plans to open Myanmar hospital

Bangkok Dusit Medical Services Plc (BGH), Thailand's largest hospital group, will proceed with plans to set up a hospital in Myanmar next year to cash in on its expanding economy.

Chatree Duangnet, vice-president and chief executive, said the company hopes to see clearer investment regulations related to acquiring land, transfer of money and business ownership.

New Light of Myanmar(22 Dec 2012 - Saturday)

Myanma Alinn Daily(22 Dec 2012 - Saturday)

Myanmar, Japan sign MoU on cooperation in Thilawa SEZ project

YANGON, Dec. 21 (Xinhua) -- Myanmar and Japan on Friday signed a memorandum of understanding (MoU)in Yangon on cooperation in a special economic zone(SEZ), Thilawa in Yangon's Thilawa Port,at Park Royal hotel here.

The MoU on significant cooperation between Myanmar and Japan especially for the development of Thilawa project was signed by U Set Aung, Chairman of Thilawa SEZ Management Committee and Deputy Minister of National Planning and Economic Development of Myanmar and Nobuhiko Sasaski, Vice Minister of Ministry of Economic, Trade and Industry of Japan.

Myanmar eyes private partners for generator plants

At least 12 local firms have expressed interest to partner with the Myanmar Electrical Power Enterprise (MEPE) in the production and distribution of electricity, said Khin Maung Zaw, director general of the Electrical Power Department.

The department is under the Ministry of Electrical Power, which plans to privatise and expand the power sector next year.

Interest rate for SMEs to be reduced

Loan interest rate for the country’s small and medium-sized enterprises (SMEs) will be reduced from 13 per cent to 8.5 per cent early next year, according to the ministry of industry.

The new interest rate, however, will still remain higher than those in the neighbouring countries, which offer SMEs loans at 1 to 6 per cent rate.

Local company proposes leasing out Coco Islands

A local private company has proposed leasing out the Coco Islands for 50 years, according to government officials.

Name of the company and other details of the proposal, which was submitted to Yangon regional government, could not be learnt.

Aegis to form Myanmar joint venture; two more Thai units planned

Media and digital communications firm Aegis Group plans to form a joint venture in Myanmar early next year and to add two more subsidiaries in the Kingdom, according to Aegis Media (Thailand).

Vichai Suphasomboon, chief executive officer at Aegis Media (Thailand), said yesterday that the parent company, which is listed on the London Stock Exchange, plans to form a joint venture with a local media agency in Myanmar by March.

Suzuki plans to build car assembly plant in Myanmar

Japanese car firm Suzuki is preparing to invest in Myanmar by building a car assembly plant, officials from the Department of Investment and Company Administration said.

However, it has yet to register with the Myanmar Investment Commission despite plans to invest in the Thilawa Special Economic Zone.

Sources from the business sector, meanwhile, said Suzuki is eyeing partnership with a local company.

“I heard that they are going to work together with a local car assembly company. We don’t know exactly the name but I heard that it is assumed to be Ever Smile Group. I heard that they didn’t apply officially yet,” a businessman from the Myanmar Automobiles Production and Traders Association said.

 

source: Eleven Myanmar

http://www.elevenmyanmar.com/business/1820-suzuki-plans-to-build-car-assembly-plant-in-myanmar

Myanmar and China signed memorandum on import

China signed a Memorandum of Understanding (MoU) with Myanmar at China-Myanmar Trade Fair (Muse)-2012 to import consumer goods, according to the statement of Myanmar’s Ministry of Commerce.

The imported goods include raw battery, machinery and tools for mining industries, textile and medicines. The contract is valued at US$41 million.

Myanmar seeks investors for floating hotels

Myanmar is seeking foreign and local investors for its plan to build floating hotels by the Botahtaung harbour area near Yangon.

 “Once we finalise setting the Botahtaung jetty area, we will accept interested companies. Within eight months to one year after the signing of the contract, the harbour will be complete,” Myanmar Port Authority managing director Cho Than Maung said.

Asiana Airlines launches service to Yangon, Myanmar

Asiana Airlines has launched a new route from Seoul, South Korea, to Yangon, the largest city in Myanmar, formerly known as Burma.

Asiana Airlines now operates two flights per week, departing from Incheon Airport at 7:30pm every Wednesday and Saturday and arriving in Yangon at 11:40pm local time.
Flights from Yangon will depart at 12:50am every Thursday and Sunday and arrive in Seoul at 8:50am local time.

‘Dialling in’ to Myanmar’s burgeoning telecoms sector

MYANMAR, the last bastion of green field investment in Asean, is heeding the call of development and the global investing community is all excited.

Big boys from everywhere are jostling to be a part of this unfolding growth story, wielding huge shiny blank cheques as large as their gleeful capitalist grins.

In this race towards modernisation, the country's telecoms sector is set to be the first major sector to be liberalised and open to foreign investment. The question on everyone's mind is then: Do local players have big enough clout and coffers to take on the global players?

Four hotels in Myanmar awarded Agoda’s Gold Circle

Hotel booking site Agoda has recognised four Myanmar hotels “for their commitment to online revenue management”.

Traders Hotel, Clover Hotel and East Hotel in Yangon and Mandalay Hill Resort Hotel in Mandalay were all named recipients of Agoda’s Gold Circle Awards for 2012.

New Light of Myanmar(21 Dec 2012 - Friday)

Myanma Alinn Daily(21 Dec 2012 - Friday)

$185 million in trade deals signed at Sino-Burmese border fair

More than US $185 million in MoUs for imports and exports was agreed at the Muse-Namkham Chamber of Commerce office on December 10 at a trade fair held in Muse, a town on the Burmese side of the border with China.

“Nine Burmese companies and eight Chinese companies signed import MoUs for $41.522 million and export MoUs for $144.101 million at the 12th Sino-Burmese border trade fair which was held from December 9 to 11,” a senior official from the Department of Border Trade said.

Foreign investment policy won’t cover land price control

Myanmar’s foreign investment by-laws will not incorporate any measures on land prices, Director General Aung Naing Oo of the Directorate of Investment and Company Administration said.

During the commercial and investment discussion between Myanmar and Thailand on December 17, Aung Naing Oo said the land price issue is a major factor in foreign investment growth. He explained that since land prices are normally determined by the market, it is difficult for the government to intervene, control, and fix the prices. The by-laws will be finalised by January 2 next year.

VISA card under test run

Myanmar’s Cooperative Bank (CB) is the only bank allowed to test the VISA card before other local banks can start providing the service.

“VISA use started on December 12. Now the card is under test run and users can try using them with two ATMs at CB Bank and two more at the airport. The service charge is 5,000 kyats,” Pe Myint, managing director of CB bank, said.

Premier Myanmar event to provide gateway to gas investment opportunities

The CWC Group and Parami Energy will be launching the inaugural Myanmar Upstream Summit from the 4–6 March 2013 in Yangon, Myanmar.

The Summit will be the must-attend meeting in the region, and will act as a platform to meet the key governmental and ministry officials as well as leading international figures from across the oil and gas industry.

The event is the only official Myanmar summit to be supported by the region’s Ministry of Energy, providing the opportunity to engage in interactive discussions and network with the decision-makers who will be shaping the country’s oil and gas agenda.

source: Gas Today
http://gastoday.com.au/news/premier_myanmar_event_to_provide_gateway_to_gas_investment_opportunities/079421/

Viking River Cruises Announces Myanmar (Burma) Itinerary for 2014

LOS ANGELES, Dec. 19, 2012 /PRNewswire/ -- The spirit of exploration at the heart of Viking River Cruises (www.vikingrivercruises.com) continues to inspire new journeys for the world's leading river cruise line. Viking today announced a new 16-day itinerary in Myanmar (Burma) and Thailand—Memories of Mandalay—marking the company's first-ever offering on the majestic Irrawaddy River.

Myanmar set to ring in the New Year

Index Creative Village, the country's largest event organiser, will host Myanmar's first countdown in Yangon, expecting to draw 50,000 to the celebration.

The company, through its subsidiary Myanmar Index Creative Village (MICV), will spend 35 million baht to stage the first countdown in the neighbouring country on the 40-rai Myoma Ground in the heart of the former capital.

New Light of Myanmar (20 Dec 2012 - Thursday)

Myanma Alinn Daily (20 Dec 2012 - Thursday)

Myanmar to grow 6.3% in 2013

Myanmar would achieve 5.5% economic growth this year and 6.3% in 2013, the World Bank predicted Wednesday.

But the nation undergoing political and economic reforms was still one of the poorest in Asia with more than 26% of the population living below the poverty line of 1 dollar a day, the international development lender said.

Myanmar wants to scale down Dawei

Myanmar wants to scale down the size of its deep-sea port and industrial estate in Dawei, but Thailand fears a decrease could affect the feasibility of related projects.

Thailand is Myanmar's investment partner in the enterprise.

Transport Minister Chadchat Sittipunt said yesterday Myanmar had revealed during Prime Minister Yingluck Shinawatra's trip to Dawei on Monday that it wanted to reduce the size of the deep-sea port and the industrial estate from 204.5 sq km to 150 sq km.

Teletubbies say ‘eh-oh’ to Myanmar

BBC children’s television series Teletubbies is heading for screens in Myanmar in 2013 after the British broadcaster announced it would launch three pay-TV channels in the country.

Pre-school children in Myanmar will be able to watch In the Night Garden, Teletubbies and Mister Maker on CBeebies, while the sci-fi drama Doctor Who and The Graham Norton Show will be broadcast on BBC Entertainment. A third channel, BBC World News, will feature 24-hour world news.

Royal Hi- Tech awarded major construction projects in Mandalay

Burma’s Directorate of Investment & Company Administration (DICA) has announced that the Royal Hi-Tech Group has been awarded contracts to undertake two major construction projects in Mandalay Division.

“Royal Hi-Tech received permission to build the 10,000-acre Myothar Industrial Zone Park,” said a spokesperson from the Department, which falls under the authority of the Ministry of National Planning & Economic Development.

New economic zone underway

Myanmar will begin the construction of a new economic zone located next to the Dawei project in 2013.

Director general Aung Naing Oo of the Directorate of Investment and Company Administration (DICA) on Monday said the Thilawa Special Economic Zone will be built on 2,400 hectares of land in Yangon region and will undergo three phases.

India allows overland imports of Burmese rice

The Myanmar Rice Federation (MRF) has announced that the Indian government is allowing rice imports via its Burmese border trade points.

“Myanmar rice has recently been exported to India over the border,” the MRF’s Soe Tun told Mizzima. “We welcome the news that it is being allowed in legally. Rice exports, not only to China, but also to the Indian market can greatly expand our business.”

Chinese companies eye Myanmar’s market

Chinese companies from various sectors are in talks with Myanmar’s Directorate of Investment and Company Administration (DICA) this month at Nay Pyi Taw for possible investments in bioenergy production, garment and telecommunications.

Sunshine Kaidi New Energy Group, a Chinese energy company, proposed on December 7 to produce bioenery as well as to grow plantations for bioenergy supply source in Myanmar.

New Light of Myanmar(19 Dec 2012 - Wednesday)

Myanma Alinn Daily (19 Dec 2012 - Wednesday)

South Korea, Myanmar Agree To Fully Open Up Airways

SEOUL, Dec 18 (Bernama) -- South Korea and Myanmar have agreed to fully liberalise air transportation between the countries, meaning all airlines, including low-cost carriers, may begin providing services, the South Korean government said on Tuesday.

The agreement came at the Korea-Myanmar aviation talks held in Seoul on Monday and Tuesday, South Korean news agency Yonhap reported.

Countries want Japan in Dawei port project

Thailand and Myanmar yesterday proposed involving a third party - possibly Japan - in joint development of the Dawei Special Economic Zone, construction of which Prime Minister Yingluck Shinawatra said was due to start in the first quarter of next year.

Yingluck led a Thai delegation to meet President Thein Sein and jointly inspected the site in Taninthayi region. The Thai premier and the delegation arrived in Dawei early yesterday, while the Myanmar president travelled via Mawlamyine.

New Light of Myanmar (18 Dec 2012 - Tuesday)

Myanma Alinn Daily (18 Dec 2012 - Tuesday)

Meidensha ties with Myanmar firm

Meidensha Corp. said Monday it has signed an agreement with Myanmar's Asia General Electric Co. to provide technological cooperation for the design, manufacture and maintenance of voltage inverters, with an eye to making inroads into the emerging Southeast Asian market.

The Tokyo-based electronics equipment maker also signed a memorandum of understanding stating it would consider investing in the transformer maker. The tieup will help Asia General Electric obtain Meidensha's technology for manufacturing midsize and large transformers, it said.

 

source: The Japan Times

http://www.japantimes.co.jp/text/nb20121218a5.html

India to open third mission in Myanmar

Monday, December 17, 2012 - Yangon—India will open a consulate at Sittwe, a sea port on the Myanmarese flank of the Bay of Bengal, becoming the first country to have three missions in the country. China and India have their embassies in the national capital and consulates in Mandalay. Sittwe port, about 550 km from Kolkata, is slated to see considerable Indian activity soon after it becomes the mouth of a maritime-cum-road route to India’s North-East as an alternate to India’s sole link to the region via the congested Siliguri corridor.

Thai PM in Myanmar for Dawei meet

Thailand and Myanmar on Monday sought to drum up investor interest in the stalled Dawei port and industrial megaproject.

Prime Minister Yingluck Shinawatra and 40 Thai business leaders flew to Dawei on the Andaman coast for talks with President Thein Sein and other officials about the joint development.