Private airlines Apex and FMI are waiting for approval from the Myanmar Investment Commission to begin domestic flights, according to the department of aviation.
Both will be focusing to fly the Nay Pyi Taw to Yangon route, providing an alternative for government workers and officials to the dangers of road travel.
“Many requirements are needed to establish a new airline. The priority is Air Operation Certificate (AOC). In order to get an issuance of AOC, many steps and information needs to be filled out. Another fact is passenger safety. Upon all necessary items and information, AOC will be granted,” said Win Swe, director general for the aviation department.
Thursday, 24 July 2014
Japanese Mobile Carrier To Pioneer Myanmar's Growing Mobile Market
Major Japanese mobile carrier KDDI Corp. (TYO:9433) is partnering with Japanese trading company Sumitomo Corp. (TYO:8053) to invest about $2 billion in Myanmar’s state-owned telecommunication business over the next decade, when the country’s telecommunications sector is expected to grow rapidly, the companies said Wednesday.
The two companies signed a deal Wednesday with state-owned Myanmar Post & Telecommunications to jointly operate a mobile phone network in the country, which is opening up to investment after decades of military rule.
About 10 percent of 65 million Myanmar residents use mobile phones, KDDI said, but demand is expected to greatly increase. KDDI and Sumitomo already operate the largest share of a growing mobile market in Mongolia.
The two companies signed a deal Wednesday with state-owned Myanmar Post & Telecommunications to jointly operate a mobile phone network in the country, which is opening up to investment after decades of military rule.
About 10 percent of 65 million Myanmar residents use mobile phones, KDDI said, but demand is expected to greatly increase. KDDI and Sumitomo already operate the largest share of a growing mobile market in Mongolia.
International call charges high, say IT technicians
The international outbound roaming rates remain high and unacceptable, say consumers and IT technicians.
Myanmar Post and Telecommunication introduced the system to take effect since July 2 with roaming charges ranging from Ks 3,500 to Ks 5,000.
The users can call to Thailand, Singapre, Laos, Cambodia, Vietnam, Philippines, Malaysia, Brunei, Japan, South Korea, India, Bangladesh, Nepal, Taiwan, Hong Kong, Belgium, Luxemburg, Romania, Poland, Spain, Switzerland, Qatar, UK, Norway, Denmark, Sweden, Moldavia, France, Papua New Guinea and Germany.
Charges for message will vary in accordance with the distance, ranging from Ks 400 to Ks 700.
Myanmar Post and Telecommunication introduced the system to take effect since July 2 with roaming charges ranging from Ks 3,500 to Ks 5,000.
The users can call to Thailand, Singapre, Laos, Cambodia, Vietnam, Philippines, Malaysia, Brunei, Japan, South Korea, India, Bangladesh, Nepal, Taiwan, Hong Kong, Belgium, Luxemburg, Romania, Poland, Spain, Switzerland, Qatar, UK, Norway, Denmark, Sweden, Moldavia, France, Papua New Guinea and Germany.
Charges for message will vary in accordance with the distance, ranging from Ks 400 to Ks 700.
Myanmar seeks foreign partners to jointly operate refinery
[YANGON] Myanmar has invited foreign companies as partners to raise production capacity of and jointly operate the state-owned Thanlyin Refinery, its second-biggest, marking the opening up of the country's oil sector under new foreign investment laws.
The Ministry of Energy published the invitation to the foreign firms for participation in Thanlyin in state-owned paper Kyemon on July 14.
The Ministry of Energy published the invitation to the foreign firms for participation in Thanlyin in state-owned paper Kyemon on July 14.
SCG invests US$ 400 million to build cement factory
Thailand’s Siam Cement Group is investing $ 400 million to construct the cement factory in Mawlamyine, Mon State.
The construction of the factory is expected to complete in the middle of 2016.
“The priority we are focusing this moment is to manufacture cement and later cement related products such as ready mixed concrete and precast concrete blocks,” saidKanTrakulhoon, SCG president and CEO.
“Myanmar seems developing progressively and infrastructures are needed so cement market will be good. The investments made in industry and housing construction sectors are increasing especially in major cities – Yangon, Mandalay and Nay Pyi Taw,” he said.
The construction of the factory is expected to complete in the middle of 2016.
“The priority we are focusing this moment is to manufacture cement and later cement related products such as ready mixed concrete and precast concrete blocks,” saidKanTrakulhoon, SCG president and CEO.
“Myanmar seems developing progressively and infrastructures are needed so cement market will be good. The investments made in industry and housing construction sectors are increasing especially in major cities – Yangon, Mandalay and Nay Pyi Taw,” he said.
Myanmar takes measures to remove locally-manufactured vehicles running on roads
YANGON, July 16 (Xinhua) -- The Myanmar regional transport authorities are taking measures to remove vehicles manufactured by local companies in industrial zones in the country, setting to hand them in to the authorities starting this week, official media reported Wednesday.
These locally-produced vehicles are blamed for having low quality which pose danger to road safety.
These vehicles include cars produced from Mandalay Industrial Zone, jeeps from Taunggyi Aye Thaya, Monywa, Yenangyoung and Yangon Industrial Zones, according to Mandalay Region Directorate of Road Transport.
It is estimated that 12,000 vehicles, manufactured in various industrial zones, are used across the nation, of which 3,000 are in northern Mandalay region.
These locally-produced vehicles are blamed for having low quality which pose danger to road safety.
These vehicles include cars produced from Mandalay Industrial Zone, jeeps from Taunggyi Aye Thaya, Monywa, Yenangyoung and Yangon Industrial Zones, according to Mandalay Region Directorate of Road Transport.
It is estimated that 12,000 vehicles, manufactured in various industrial zones, are used across the nation, of which 3,000 are in northern Mandalay region.
OTC stock market for Thilawa SEZ to open
The over-the-counter stock market for Thilawa Special Economic Zone will be launched later this year according to the chairperson of the Thilawa SEZ.
“The counters will open at public areas for easy access to information and inquiry. The counters are opened to sell shares because there is no stock market yet. We will expand the market depending on the demand. Once the stock market is established, counters may not be needed,” Win Aung, the chairperson said.
“The counters will open at public areas for easy access to information and inquiry. The counters are opened to sell shares because there is no stock market yet. We will expand the market depending on the demand. Once the stock market is established, counters may not be needed,” Win Aung, the chairperson said.
Japanese firms to invest in Myanmar's telecommunication sector
YANGON, July 17 (Xinhua) -- Two Japanese firms will invest a total of 2 billion U.S. dollars in Myanmar's telecommunication sector to help the state-owned tele-enterprise expand network and compete with foreign telecommunication operators in providing services, according to the state-run Myanmar Posts and Telecommunications (MPT) Thursday.
The investment will be made by KDDI Corporation and Sumitomo Corporation under a memorandum of understanding signed with the MPT of the Ministry of Communications and Information Technology in Nay Pyi Taw.
Meanwhile, the Groupe Speciale Mobile Association (GSMA) and the Myanmar ministry jointly held a workshop Wednesday on "mobile communications as an agent of inclusion and change" in the capital.
The investment will be made by KDDI Corporation and Sumitomo Corporation under a memorandum of understanding signed with the MPT of the Ministry of Communications and Information Technology in Nay Pyi Taw.
Meanwhile, the Groupe Speciale Mobile Association (GSMA) and the Myanmar ministry jointly held a workshop Wednesday on "mobile communications as an agent of inclusion and change" in the capital.
Financial assistance needed for SMEs
Small and medium-sized enterprises have a critical role in driving the country’s economic growth, said Brigadier General KyawOoLwin, MP of the upper house, calling for financial assistance to the SMEs.
He was speaking at the upper house on Friday while submitting his committee’s report on the SMEs Development Bill.
“The SMEs account for 90 percent of the country’s total economy. They need to boost competitiveness at local and international markets. Giving the encouragement to the SMEs is aimed at helping support the country’s socio-economic development. The SMEs provide the most job opportunities and account for workforce ratio,” he said.
The SMEs should have an easy access to information, technical support and cash assistance. The committee has made necessary preparations to create new employment opportunity and income-increasing scheme.
He was speaking at the upper house on Friday while submitting his committee’s report on the SMEs Development Bill.
“The SMEs account for 90 percent of the country’s total economy. They need to boost competitiveness at local and international markets. Giving the encouragement to the SMEs is aimed at helping support the country’s socio-economic development. The SMEs provide the most job opportunities and account for workforce ratio,” he said.
The SMEs should have an easy access to information, technical support and cash assistance. The committee has made necessary preparations to create new employment opportunity and income-increasing scheme.
Myanmar pharma sector expected to grow 10-15%
MYANMAR'S pharmaceutical industry is expected to rev up 10-15 per cent a year thanks to the government's increasing spending on healthcare.
The Myanmar Pharmaceutical and Medical Equipment Entrepreneurs Association made the forecast at the recent "Myanmar Medi-Pharm Expo", signalling confidence in the future of the nascent market now estimated to be worth about US$100 million to $120 million (Bt3.2 billion to Bt3.85 billion).
During the past three years, the Myanmar government has tripled healthcare expenditures. Spending by consumers will also rise in line with the country's growing economy.
The Myanmar Pharmaceutical and Medical Equipment Entrepreneurs Association made the forecast at the recent "Myanmar Medi-Pharm Expo", signalling confidence in the future of the nascent market now estimated to be worth about US$100 million to $120 million (Bt3.2 billion to Bt3.85 billion).
During the past three years, the Myanmar government has tripled healthcare expenditures. Spending by consumers will also rise in line with the country's growing economy.
Myanmar-Nepal flight would facilitate Buddhist pilgrims
Yangon – The planned launch of direct flight between Myanmar and Nepal might become a new option to facilitate the Myanmar-India-Nepal pilgrimage route for Buddhist followers.
Presently, Buddhist pilgrims have to only rely on Myanmar-India flight in order to visit the holy sites in India and Nepal. The additional air service is expected to boost the convenience of pilgrims.
“The tourism industry can offer more travel choices for pilgrims if the Myanmar-Nepal flight is launched. Now we encounter delay because pilgrims have to travel only through India to visit holy sites. In past, there was air service from Nepal,” said Hla Aye, managing director of Shan Yoe Ma Tour.
Presently, Buddhist pilgrims have to only rely on Myanmar-India flight in order to visit the holy sites in India and Nepal. The additional air service is expected to boost the convenience of pilgrims.
“The tourism industry can offer more travel choices for pilgrims if the Myanmar-Nepal flight is launched. Now we encounter delay because pilgrims have to travel only through India to visit holy sites. In past, there was air service from Nepal,” said Hla Aye, managing director of Shan Yoe Ma Tour.
Luxury cars and artisanal cheese: Burma opens up, but true democracy still elusive
RANGOON, Burma — On a recent rain-soaked night, the ancient gold Shwedagon Pagoda, believed to contain relics of the Buddha, glowed through the mist in Rangoon.
Not far away, a more modern scene was unfolding at one of the city’s newest shopping malls, where middle-class families sipped lattes and dined on hamburgers and French fries. Just a few years ago, such cuisine was affordable only for the elite or Western travelers.
Once isolated from the world, Burma, also known as Myanmar, has seen rapid change since 2010, when its military government began a process of democratic reform that prompted Western governments to ease economic sanctions.
Not far away, a more modern scene was unfolding at one of the city’s newest shopping malls, where middle-class families sipped lattes and dined on hamburgers and French fries. Just a few years ago, such cuisine was affordable only for the elite or Western travelers.
Once isolated from the world, Burma, also known as Myanmar, has seen rapid change since 2010, when its military government began a process of democratic reform that prompted Western governments to ease economic sanctions.
Deposit interest rate hiked
A number of private banks, including the largest KBZ Bank, have recently announced an increase of deposit rate from 8 per cent to 8.25.
The banks, however, keep the borrowing rate at 13 per cent.
The rate adjustment happened in the wake of the Central Bank of Myanmar announcement on approval plans for foreign banks to set up branches.
The central bank set the minimum and maximum interest rates between 8 and 13 per cent to control inflation.
Asia Green Development Bank announced a raise in the interest rate on deposit from 8 to 8.25 percent with effect from July 1. Co-operative Bank promised to do the same.
The banks, however, keep the borrowing rate at 13 per cent.
The rate adjustment happened in the wake of the Central Bank of Myanmar announcement on approval plans for foreign banks to set up branches.
The central bank set the minimum and maximum interest rates between 8 and 13 per cent to control inflation.
Asia Green Development Bank announced a raise in the interest rate on deposit from 8 to 8.25 percent with effect from July 1. Co-operative Bank promised to do the same.
Ooredoo and the Khan Academy Myanmar announced Myanmar’s first Translate-athon
Ooredoo Myanmar today announced that it has teamed up with the Khan Academy Myanmar to help make their wealth of educational material available across Myanmar. The Khan Academy Myanmar is a not-for-profit organization that aims to change education for the better by harnessing technology to make a world-class education available free to anyone, anywhere.
An extensive library of education resources, including interactive challenges, assessments and videos are available for students, coaches, parents and teachers. With Ooredoo’s new, next generation 3G network expected to bring the life-enhancing benefits of Internet access to the people of Myanmar, the potential exists for millions of new Internet users to leverage the comprehensive syllabus of the Khan Academy Myanmar to access further education across the country. The free library of educational resources includes 6,000 videos covering subjects such as: maths, sciences, economics, finance and history. The videos currently receive 10 million views every month from students around the world.
An extensive library of education resources, including interactive challenges, assessments and videos are available for students, coaches, parents and teachers. With Ooredoo’s new, next generation 3G network expected to bring the life-enhancing benefits of Internet access to the people of Myanmar, the potential exists for millions of new Internet users to leverage the comprehensive syllabus of the Khan Academy Myanmar to access further education across the country. The free library of educational resources includes 6,000 videos covering subjects such as: maths, sciences, economics, finance and history. The videos currently receive 10 million views every month from students around the world.
US-based Ball to commence construction in October at Thilawa SEZ
Yangon- US-based Ball Corporation has set October to construct its production plant for beverage can becoming the first US investment project at Thilawa Special Economic Zone, said Min Tala Nyan, the company’s country manager.
“We have not finished land preparation during the monsoon. At the end of the rains, we can start construction work. We hope the construction can begin in October,” said the country manager.
The investment project was unveiled at the signing ceremony for the memorandum of understanding on June 6.
“We have not finished land preparation during the monsoon. At the end of the rains, we can start construction work. We hope the construction can begin in October,” said the country manager.
The investment project was unveiled at the signing ceremony for the memorandum of understanding on June 6.
Myanmar Airways inks deal for up to 12 ATR 72-600s
Myanmar’s state-owned national airline Myanma Airways—to be renamed Myanmar National Airlines in the near future—signed a deal for six ATR 72-600s with six options at the Farnborough Airshow.
The aircraft will enable the carrier to expand its global footprint to establish itself as a major carrier in the region. The aircraft, which are scheduled for delivery between 2015 and 2017, will gradually replace its existing ATR fleet.
The aircraft will enable the carrier to expand its global footprint to establish itself as a major carrier in the region. The aircraft, which are scheduled for delivery between 2015 and 2017, will gradually replace its existing ATR fleet.
Wednesday, 23 July 2014
More than 3,000 companies registered under foreign investment law
A total of 3,032 foreign-based companies and more than 70 joint ventures have registered to open offices and to operate 720 projects under the foreign investment as of June, according to the Directorate of Investment and Company Administration.
"The investment commission gave approval to mostly garment factories, shoe factories and other manufacturing businesses. This will create employment opportunities for the citizens. On the other hand, labour rights should be ensured. It is bad if foreign investors could not ensure labour rights after getting approval for investment," said an executive from the Union of Myanmar Federation of Chambers of Commerce and Industry.
"The investment commission gave approval to mostly garment factories, shoe factories and other manufacturing businesses. This will create employment opportunities for the citizens. On the other hand, labour rights should be ensured. It is bad if foreign investors could not ensure labour rights after getting approval for investment," said an executive from the Union of Myanmar Federation of Chambers of Commerce and Industry.
Helping Burma’s Women Entrepreneurs to Take Risks
RANGOON — A small group of Burmese women who want to start businesses of their own is being helped by Project-W, part of a so-called start-up incubator in Rangoon. Eleven women were chosen for their business ideas, which range from starting an online shop selling longyis, to a travel agency. The women are currently involved in the six-month project, in which they are being taught business skills and market knowledge, and being advised by local mentors.
The Irrawaddy’s reporter Nyein Nyein talked to Allison Morris—the co-founder of Project Hub Yangon, which is running Project-W—about the program, its successes and its challenges.
The Irrawaddy’s reporter Nyein Nyein talked to Allison Morris—the co-founder of Project Hub Yangon, which is running Project-W—about the program, its successes and its challenges.
Gas exports reach US$10 bn in 3 years
Myanmar’s natural gas exports have amounted to over $10 billion in three years under the civilian government, according to the Ministry of Commerce.
The gas revenues comprise $3.5 billion for fiscal year 2011-12, $3.66 billion for 2012-13 and $3.3 for 2013-14.
In the same period, exports of timber and wood products amounted to $2 billion. And gems earned $2 billion in export earnings. The country received a total of $14 billion in exporting natural resources.
Recently the government organised the 51st Myanmar Gems Exhibition which saw the record earnings of about $800 million.
The gas revenues comprise $3.5 billion for fiscal year 2011-12, $3.66 billion for 2012-13 and $3.3 for 2013-14.
In the same period, exports of timber and wood products amounted to $2 billion. And gems earned $2 billion in export earnings. The country received a total of $14 billion in exporting natural resources.
Recently the government organised the 51st Myanmar Gems Exhibition which saw the record earnings of about $800 million.
Myanmar to issue initial population report in August
YANGON, July 15 (Xinhua) -- Myanmar authorities will release in the last week of August the initial result of the 2014-nationwide population census conducted in March-April, local media reported Tuesday.
The 7-Day News said the final result is expected to be launched in early 2015.
The total cost of conducting nationwide census amounted to 58.5 million U.S. dollars with the financial support of five million USD from the United Nations, 15 million from Myanmar government and over 38 million from several European countries, the report said.
The 7-Day News said the final result is expected to be launched in early 2015.
The total cost of conducting nationwide census amounted to 58.5 million U.S. dollars with the financial support of five million USD from the United Nations, 15 million from Myanmar government and over 38 million from several European countries, the report said.
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