Investment and Development news of Myanmar

[Aung Zaya]

It got picked up in Indian media too bro:

http://timesofindia.indiatimes.com/...-up-myanmar-projects/articleshow/59116582.cms

Indian envoy to Myanmar Vikram Misri said India had completed building the Sittwe power and the inland water terminal in Paletwa. Speaking to a local publication, Global Light of Myanmar this week he said, "We have just awarded the contract for the final stage which is the road to be built from Paletwa to a point called Zorinpui which is on the border with Mizoram. I think the creation of this transport corridor, once it is fully functioning, has the potential to transform the economic landscape in the states through which it goes, Rakhine and Chin." Construction is expected to start in October, with a Rs 1,600-crore contract awarded for building 109-km road connecting Paletwa river terminal to Zorinpui in Mizoram.

@WAJsal @waz What do you guys feel about making this thread a pinned thread as "Myanmar economy news" in Far East subforum....for consistency with other countries that have both there?

So sittwe port project was finished. and doing parts of kaladan project. i think there is also a small SEZ in Sittwe Project. how about the interest of India companies for this project.? bro
India should invest in infra projects of Rakhine like power plants , upgrading the Roads as we have plan to construct more economic zones in Rakhine.

and Thanks for asking mod this thread as pin post. bro

 

[Nilgiri]

how about the interest of India companies for this project.? bro

Yes they should be interested. I think lumber processing, food processing, vehicle manufacturing and light shipbuilding should be natural areas given Myanmar dynamic economic growth.

Does Myanmar have rubber plantations btw (that can be used to help make tyre, sealant factories etc)?

India should invest in infra projects of Rakhine like power plants , upgrading the Roads as we have plan to construct more economic zones in Rakhine.

Yah western coast area of Burma should become a good economic network and commerce +trade hub for region given how much coast line you got and ASEAN lack of access to andaman sea/ bay of bengal compared to you.

Thus focus should be on power, transport, comms for area and connecting it with Yangon, Naypyidaw, Mandalay, China, ASEAN and India. Has there been a white paper on the vision (say 10, 20 year time frame) for it laid by your govt bro?

 

[Aung Zaya]

Yes they should be interested. I think lumber processing, food processing, vehicle manufacturing and light shipbuilding should be natural areas given Myanmar dynamic economic growth

as u said , Sectors like sea food processing , logistic service , light ship building , Construction material processing plants should be invested by gov too. it will draw back rakhine people who work in aboard and will help alot to develop the state.

Does Myanmar have rubber plantations btw (that can be used to help make tyre, sealant factories etc)?

yes. but not in west. do have in the east and many hundard thousand acres have been planted with the investment of thailand. bro the rubber product is one of majar export to thailand.

Thus focus should be on power, transport, comms for area and connecting it with Yangon, Naypyidaw, Mandalay, China, ASEAN and India. Has there been a white paper on the vision (say 10, 20 year time frame) for it laid by your govt bro

yes. if india can invest power production sector which urgently need in country, like coal power plants and gas power plants , i bet it make india bag big profit. that's why Thailand seeking place to build in Myanmar. bro for last year , Thailand is biggest investor in power production sector followed by China Singapore and Japan.

 

[Aung Zaya]

Over $2bn in foreign investment entered Myanmar since April
Submitted by Eleven on Wed, 06/21/2017 - 12:39
Writer:
Nilar

A fuel storage station at Thilawa SEZ (Photo-San Htoo Aung)


Foreign businesses have invested more than US$2 billion in Myanmar between the beginning of April and mid-June this fiscal year, according to the Directorate of Investment and Companies Administration (DICA).

The Myanmar Investment Commission (MIC) said it approved 22 foreign investments worth $713 million and created 8,387 local jobs during that period.

Ten of the investments are in industrial sector, and one is in the transport and communications sector. Another investment is in the livestock and fisheries sector, and eight investments are in other services sectors. Two of the remaining investments are in the real estate sector.

The MIC allowed 66 foreign investments worth $1.85 billion up to mid-June this fiscal year and also allowed $127 million in foreign investments into the Thilawa Special Economic Zone in the same period, bringing the total above $2 billion.

Wilmar Myanmar Logistics Ltd, one of the investors, will develope storage tanks for fuel and its associated products, warehouses and other storage facilities at the Thilawa Port. Aryu International Health Co Ltd has been allowed to provide healthcare services and build a hospital with semi-foreign investment in Tamwe Township by the MIC.

 

[Aung Zaya]

Dubai keen to invest in Myanmar gold

• 

By Chan Mya Htwe | Thursday, 22 June 2017
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Dubai Gold Entrepreneurs Association wants to invest US$200 million in the gold industry in Myanmar, said U Kyaw Win, the secretary of Myanmar Gold Entrepreneurs Association.

Chief market strategist of World Gold Council is speaking at the Asia Pacific Precious Metal Conference on the relevance of gold in a turbulent time. Photo - Twitter/ World Gold Council

The Dubai-based association expressed their interest in Myanmar’s gold sector at the Asia Pacific Precious Metals Conference, held recently in Singapore.

Eight delegates from Myanmar and businesses from other countries attended the event which was held for the first time in the island-state.

At that conference, the Dubai Gold Entrepreneurs Association said it is interested in opening a bank in Myanmar by investing $200 million, specifically servicing the gold market in Myanmar.

“We discussed it roughly. We will report this matter to our union minister.

“If the businesses in Dubai come here, they will have to meet with our minister.

“This investment can be done only with the permission from all relevant departments. We need to secure the permit before it can be done. There will need to be discussions,” said U Kyaw Win.

Although Dubai Gold Entrepreneurs Association does not have a bank in their country, it is allowed to do business according to their country’s policy.

He added that associations are not allowed to conduct business in Myanmar. If the associations want to do business, they need to establish public companies and banks.

Currently, citizens can directly establish their own banks in Myanmar but associations need to form public companies if they want to set up a bank.

To set up foreign bank branches in Myanmar, they first need to establish representative offices and then the Central Bank of Myanmar will decide whether or not to grant licenses to open a branch.

At present, there are 13 foreign banks which have been granted a license to open a branch in Myanmar. These banks support trading and international transactions but are not involved in the gold industry.

Another 48 foreign financial institutions have opened representative offices in the country. They are waiting for the permission from the Central Bank to open bank branches.

Translation by Win Thaw Tar

 

[Aung Zaya]

Philippines invites tender for Myanmar rice
Submitted by Eleven on Mon, 07/03/2017 - 23:49
Writer:
Nilar

Bags of rice are loaded at Pakokku port. (Photo-Thet Htein Win)
The Philippines’ National Food Authority has invited a tender for Myanmar to supply the country with rice, according to the Ministry of Commerce.

The Consumer Affairs Department, under the ministry, held a meeting at its office in Yangon Region on Saturday to discuss the tender invitation.

The discussion focused on exports of rice to the Philippines in accordance with set standards, and a price-setting process that takes into account the Philippines’ demand level.

Union Minister for Commerce Than Myint had earlier said Myanmar has been making efforts to seek new markets in order to promote the export of local products.

The export of so-called 25-mark rice to African countries is on the increase and European Union countries are also increasing their imports of Myanmar rice. It is also being sold to Asean countries.

In the first three months of the 2017-18 fiscal year, Myanmar exported over 600,000 tonnes of rice, exceeding by three times the total tonnage exported in the same period of last year, according to sources from the Commerce Ministry.

In the same period of the previous fiscal year, just over 200,000 tonnes of rice were exported.
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Accor Signs Three Hotels in Myanmar
https://www.hospitalitynet.org/news/4083558.html

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[Nilgiri]

 

[Aung Zaya]

Foreign investment in Myanmar's Thilawa SEZ hit 1.7 bln USD
Source: Xinhua| 2017-07-17 10:42:32|Editor: An



YANGON, July 17 (Xinhua) -- Foreign investment in Myanmar's Thilawa Special Economic Zone (SEZ) on the outskirts of Yangon is estimated to have hit 1.7 billion U.S. dollars so far since the zone was launched four years ago, official media reported Monday.

Sectorally, the foreign investment in the SEZ was led by manufacturing sector with 773 million dollars, followed by import-export sector with 126 million dollars, logistics sector with 77 million dollars, service sector with 56 million dollars, the real estate sector with 30 million dollars and and hotel sector with 12 million dollars.

Of the Thilawa SEZ's total area of 2,400 hectares, 400 hectares, which represents Zone A, has been put into operation in September 2015.

Zone B with 101 hectares is set to be leased this year and is scheduled for completion next year.

According to the report, Myanmar sees a total of 150 foreign companies from over 17 countries invest in the zone and 40,000 job opportunities will be created.

Thilawa SEZ represents the first of its kind being developed in Myanmar with the other two - Dawei and Kyaukphyu SEZs being in progress.

Myanmar and Japan signed an agreement on Oct. 29, 2013 to introduce the Thilawa SEZ and is operated by Myanmar-Japan Thilawa Development Company, a joint venture between Myanmar and Japan formed by two Myanmar companies and two Japanese companies sharing a ratio of 51 to 49.

 

[Aung Zaya]

RMA Group opens Ford assembly facility in Myanmar
May 26, 2017

RMA Group, distributors for Ford in Myanmar, proudly announces that for the first time in Ford’s history, Ford vehicles will be assembled in Myanmar at the new Ford assembly plant in Yangon.

Known as Capital Motor Limited Assembly Plant, the purpose-built facility is a joint venture between RMA Group and Capital Automotive Ltd, a subsidiary of the Capital Diamond Star Group.

The facility has kicked off operations with the New Ford Ranger and All-New Ford Everest, available to customers in various specification and engine varieties. Both vehicles come with an industry leading 5 year/100000km manufacturer’s warranty.

“We are extremely excited by the opening of our new plant, as we will now be manufacturing both Ford Ranger and Everest and making these more accessible to customers in Myanmar at very competitive prices. While up until now, the new Ranger and Everest vehicles were imported from Thailand, the investment in a new SKD (semi-knocked down) plant also provides added job opportunities, as well as operator skills training and technology transfer”, says Chris Manley, Country Manager of RMA Myanmar.

https://www.rmagroup.net/all-news-update/rma-group-opens-ford-assembly-facility-myanmar/

 

[Aung Zaya]

Kajima takes on $400m urban development project in Myanmar
Japanese contractor will construct hotels, office building and library

A rendering of three high-rises that Kajima plans to build in Yangon.

TOKYO -- General contractor Kajima will sign up for a 45 billion yen ($398 million) urban development project in Yangon, building offices, hotels and other facilities in bringing its city planning expertise to Myanmar.
https://asia.nikkei.com/Business/Companies/Kajima-takes-on-400m-urban-development-project-in-Myanmar
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Yoma Strategic inks projects worth $400 million in Yangon

Singapore-listed Yoma Strategic Holdings has signed an agreement with several foreign construction companies to build two high-end mixed-development projects in downtown Yangon.


The first project, Yoma Central, will feature Peninsula-branded luxury residences, two Grade A office towers, a business hotel and serviced apartments. The project will be developed under Meeyahta Development Ltd, a joint-venture between Yoma Strategic, First Myanmar Investment Company (FMIC), several companies under Mitsubishi, the International Finance Corporation and the Asia Development Bank.

https://www.mmtimes.com/news/yoma-strategic-inks-projects-worth-400-million-yangon.html
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[Aung Zaya]

Myanmar-S. Korea trade hits over 500 mln USD in eight months of FY 2017-18

AUTHOR: XINHUA | 29 JAN 2018
| VOL 6 ISSUE 5
2

Myanmar-S. Korea trade hits over 500 mln USD in eight months of FY 2017-18.jpg

Moh Moh Kyi/MBT
Myanmar Trade Center located at Corner of Strand Road and Shwe Bon Tha Street, Yangon, that handle all the trade activities to provide trade and economic information and trade promotion service




Bilateral trade between Myanmar and South Korea reached 510 million U.S. dollars as of Nov. in present fiscal year 2017-2018, the official Global New Light of Myanmar reported Wednesday.

The country's exports to South Korea totaled over 189 million U.S. dollars while its import value was 321 million U.S. dollars during the period.

The country mostly exported agricultural products, including cashew nuts, mangoes, rice, beans and pulses to South Korea.

Cosmetics, food products, electronics equipment, mobile devices and other goods from South Korea are mainly imported into the country.

Bilateral trade between the two nations was 866 million U.S. dollars in last FY 2016-2017.

Investment in Myanmar from South Korea totaled 3.78 billion U.S. dollars as of December since late 1988, ranking the sixth largest source of investment in the country, according to the statistics of the Directorate of Investment and Companies Administration.
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Myanmar-ASEAN Trade Hits 7.5 bln USD in First Eight Months of FY 2017-18

AUTHOR: XINHUA | 29 JAN 2018
| VOL 6 ISSUE 5
1

Myanmar-ASEAN trade hits 7.5 bln USD in first eight months of FY 2017-18.jpg

U Aung/Xinhua
Officials pose for photo during the 25th Meeting of the High Level Task Force on ASEAN Economic Integration (HLTF-EI) in Yangon, Myanmar




Trade between Myanmar and members of the Association of Southeast Asian Nations (ASEAN) reached 7.5 billion U.S. dollars in the first eight months (April-November) of the present fiscal year 2017-18, the official Global New Light of Myanmar reported Monday.

During the period, Myanmar's export accounted for 2.8 billion U.S. dollars while its import took 4.7 billion dollars, the Ministry of Commerce was quoted as saying.

Among the five ASEAN trade partners, neighboring Thailand topped with 3.2 billion U.S. dollars, followed by Singapore with 2.3 billion dollars and Malaysia with 757 million dollars.

The country's bilateral trade with Indonesia was valued at 662 million U.S. dollars, with Vietnam 489 million dollars , the Philippines over 33.3 million dollars and Cambodia 3.2 million dollars.

However, trade with Brunei and Laos was less than 2 million dollars.

In last FY 2016-17, Myanmar's trade with ASEAN trade partners was 9.6 billion U.S. dollars.

The country mainly exports agricultural products, fishery and forest products and minerals, while importing food and beverages, electronic devices, capital goods, automobile vehicles and consumer goods.