Myanmar Business Network: Korean banks eye expansion into Myanmar

Myanmar Business Network: Korean banks eye expansion into Myanmar: Korean banks are pushing to make inroads into the Myanmares market in a bid to find their new sources of income amid a saturated local mark...

Myanmar Business Network: Firm carries out EIA on Rakhine hydropower project...

Myanmar Business Network: 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, sour...

Myanmar Business Network: Myanmar, Japan sign MoU on cooperation in Thilawa ...

Myanmar Business Network: Myanmar, Japan sign MoU on cooperation in Thilawa ...: Myanmar and Japan on Friday signed a memorandum of understanding (MoU)in Yangon on cooperation in a special economic zone(SEZ), Thilawa in Y...

Myanmar Business Network: Visa cards now available in Myanmar: CB Bank

Myanmar Business Network: Visa cards now available in Myanmar: CB Bank: Visa cards can now be used in Myanmar, according to an official from a commercial private bank in the country. Managing Director Phay Myin...

Myanmar Business Network: Japan invests glove factory in Bago

Myanmar Business Network: Japan invests glove factory in Bago: A Japanese glove factory is currently under construction just outside the Bago city, which is located 60km north from Yangon, sources report...

CHINESE BUSINESS

CHINA INDUSTRY EXPO-MYANMAR

It was held on December 6 - 8 ,2012 at Tatmadaw Hall.

50 companies were participated.Vehicles & spare parts,machinery & equipment,electronics & household electrical appliances,hardware & tools,health products & medicines,textiles,chemical products and domestic articles, nondurable consumer goods.Organized by Trade Development Bureau of Ministry of Commerce of P.R.China,Department of Commerce of Yunan Province and China Economic & Trade Consultants Corp.

The supporters are Economic and Commercial Counsellor's office of Chinese Embassy in Myanmar and Union of Myanmar Federation of Chambers of Commerce and Industry.

Exhibition Service was given by china Exhibition & Forum Co.,Ltd. and Myanmar Tourism Resources Co. Ltd.

China Hi-tech group corporation is popular for its products.Hunan Nongyou Machinery group co.,ltd. was liked by visitors.One visitor bought mini rice mill.

12th Myanmar-China Border Economic and Trade Fair 

The three-day 12th Myanmar-China Border Trade Fair was opened at Muse 105th Mile Border Trade Zone in Northern Shan State on 9th December.With about 218 standard booths,including 123 booths from the Chinese side,93 booths from Myanmar side,and two booths from Thailand,which is wonderful.From January to October 2012,two-way trade stood at 1.722 billion US Dollars,up 2,2 percent year on year,and the trade volume this year is expected to exceed last year.

Cuba-China tie

Cuban leader Raul Castro met with visiting Li Yuanchao,member of the Political Bureau of the Communist Party of China(CPC) Central Committee,in Havana,capital of Cuba,on Dec 8,2012.Cuba is willing to elevate the Cuba-China ties to a higher level.Both side signed an agreement on exchanges and cooperation between the two parties.

China-Argentina tie

Chinese Political Adviser Jia Qinglin and Argentina President Cristina Fernandez have lauded bilateral relations and pledged to further enhance cooperation.The two countries actively promote the mutually beneficial cooperation in such key areas as energy,power,infrastructure construction,finance and agriculture.

Chinese to buy AIG air lease arm.

A group of Chinese companies,including famous Industrial and Commercial Bank of China (ICBC),is in talks to buy nearly all American International Group Inc.'s aircraft leasing unit for about $5.5.billion.

Myanmar Business Network: Steamed rice export reaches 1,500 tonnes

Myanmar Business Network: Steamed rice export reaches 1,500 tonnes: Myanmar’s export of steamed rice has reached about 1,500 tonnes every month amid increasing demands from different countries, a well-placed ...

Myanmar Business Network: Myanmar cement firms prepare for building boom

Myanmar Business Network: Myanmar cement firms prepare for building boom: Just as cement businesses solidified in Thailand over the course of two decades, the same industry is expected to gel in Myanmar. LV Techn...

Myanmar Business Network: FMI permitted to run private airline

Myanmar Business Network: FMI permitted to run private airline: The First Myanmar Investment Co.,Ltd. has obtained permit to operate a private airline, said Thein Wai(Mr. Surge Pun), chairman of the company on November ..
FMI nett profit after tax is K 1,200,445,471.FMI continued to engage in the business of investment holding which include investments in financial services sector,automobile sector,real estate sector,agriculture sector and services sector.The investments made by FMI are recorded at cost in ther books of company having a total historic value of K 16,259 million.
FMI's income for the year ended 31st March,2012 was K 1,745 million which was contributed by automobile sector 11%, real estate sector 87% and other income 2% respective.Then FMI can run own airline now.

Myanmar Business Network: Myanmar parliament abrogates three laws, enact for...

Myanmar Business Network: Myanmar parliament abrogates three laws, enact for...: The 5th session of Myanmar's parliament, which ended in Nay Pyi Taw on Thursday, has mainly abrogated three laws and enacted a new foreign i...

Myanmar Business Network: Myanmar invites investment in power projects

Myanmar Business Network: Myanmar invites investment in power projects: Myanmar government has invited both local and foreign businessmen to invest in 22 power projects. The call came after awarding of 67 power...

Myanmar Business Network: US plans to buy Myanmar rice for Iraq

Myanmar Business Network: US plans to buy Myanmar rice for Iraq: The United States is planning to buy rice from Myanmar to be sent to Iraq, Chit Khaing, president of Myanmar Paddy, Producers Association sa...

Myanmar Business Network: Rice federation to spend K14.5b on buffer stock

Myanmar Business Network: Rice federation to spend K14.5b on buffer stock: Myanmar Rice Federation is planning to spend K14.5 billion (about US$17.2 million) to buy buffer stock from the November crop, starting from...

MYANMAR BUSINESS PREVIEW: Myanmar Business Network: Myanmar spends $10.9b on...

MYANMAR BUSINESS PREVIEW: Myanmar Business Network: Myanmar spends $10.9b on...: Myanmar Business Network: Myanmar spends $10.9b on construction projects : Myanmar is spending US$10.94 billion for 24 road and bridge proje...

Myanmar Business Network: New private airline to emerge in Myanmar soon

Myanmar Business Network: New private airline to emerge in Myanmar soon: A new private airline -- Shwe Myanmar Airways will operate its maiden flight in Myanmar in January 2013, aiming at facilitating travelers w...

Myanmar Business Network: Myanmar spends $10.9b on construction projects

Myanmar Business Network: Myanmar spends $10.9b on construction projects: Myanmar is spending US$10.94 billion for 24 road and bridge projects, the Ministry of Construction said. The projects are divided into Uni...

Myanmar Business Network: Myanmar plans to export up to 1.5 million tonnes o...

Myanmar Business Network: Myanmar plans to export up to 1.5 million tonnes o...: Myanmar is planning to export up to 1.5 million tonnes of rice in the 2012-2013 fiscal year, according to the Myanmar Rice Industry Associat...

Myanmar Business Network: Myanmar MPs approve business-friendly investment l...

Myanmar Business Network: Myanmar MPs approve business-friendly investment l...: Myanmar's parliament on Thursday approved a revised, more business-friendly foreign investment bill aimed at boosting the struggling economy...

Start Business With No Money: StartBusiness With No MoneyNot having the capita...

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Not having the capita...: Start Business With No Money Not having the capital to launch a full-fledged business is no longer a primary concern as the lanes o...

Myanmar Business Network: Myanmar introduces int'l bank card services for fi...

Myanmar Business Network: Myanmar introduces int'l bank card services for fi...: Myanmar has allowed introducing services for four international bank cards -- Visa, Master, CUP ( China Union Payment) and JCB (Japan Credi...

Myanmar Business Network: Japan group gives $3M aid to Myanmar minorities

Myanmar Business Network: Japan group gives $3M aid to Myanmar minorities: A philanthropic organization working with the Japanese government will give $3 million in humanitarian aid to Myanmar's armed ethnic minori...

SOUTH KOREANS ARE COMING

MYANMAR,ROK SIGNED MOU ON DEVELOPMENT COOPERATION

President of the Republic of the Union of Myanmar U Thein Sein met President of the Republic of Korea Mr. Lee Myung-bak at Blue House in Seoul,ROK at 5 pm local time today and held discussions on matters related to mutual benefits.

Also present at the call together with the President were the Union Ministers,the Chief Ministers,Deputy Ministers,the Ambassador to ROK and departmental heads.Together with the President of ROK,the Minister of Foreign Affairs and Trade,The Minister for Knowledge Economy,the Ambassador of the ROK to Myanmar and senior officials attended the meeting.

Next,a signing ceremony followed.nion MInister for Foreign Affairs U Wunna Maung Lwin and the Minister of Foreign affairs and Trade of the ROK signed aid

agreement and Union Minister for Industry U Aye Myint and the Minister of Foreign Affairs and Trade of the ROK,MoU on development cooperation in the presence of the two leaders and exchanged notes. - MNA

CO-OPERATION IN SMEs TO SERVE INTERESTS OF MYANMAR,SOUTH KOREAN PEOPLES

President U Thein Sein addressed a luncheon hosted by the Korea Federation of Small and Medium Business (KBIZ) at Lotte Hotel of Seoul in South Korea this afternoon.

Also present at the luncheon together with the President were Union Ministers,region Chief Ministers,Deputy Ministers and delagation members. IT was also attended by the Chairman and members of KBIZ,officials of Federation of KOrea Industries (FKI),Korea Chamber of Commerce and Industry(KCCI) and Korea International Trade Association and guests.

Chairman Mr. Kim Ki Moon of KBIZ extended greetings.

The President said in his address that he visited South Korea at the invitation of

South Korean President Mr Lee Myung-bak and it is the first-ever goodwill visit of aleader of Myanmar during 25 years. The two countries established diplomatic relations since 1975,he said. The friendsahip and mutual cooperation improved the mutual relations after the establishement of diplomatic ties,he said.

Coming across various historical experiences like Myanmar,South Korea is achieving development in all sectors,he aid.Not only East Asdian countries but the world nations are inspired by achievement of rapid growth by South Korea and its hard-working people,he said.

The President un derscored the need to extract hijghest productivity of all citizens and found Inclusive Economic Institutions that could independently make business decisions without giving any space for oligarchy. The emergence of Inclusive Economic Institutions with the participation of all political forces in the political process could bring about the economic development and make democracy well entrenched in Myanmar,he said.The President President said he believed that the emergence of inclusive economic institutions is important.

The entrepreneurs and small and mediumentrepreneurs in Myanmar's economy who had lacked contacts with internationalk ecnomic community need to initiate necessary economic reforms in cooperation with Korean entrepreneurs who are in touch with the international community.

He hoped for the help of KBIZ extended to small and medium enterprises of Myanmar to get ready trhemselvesd to tap opportunites and tackle challenges stemmed from foreign investments that would be made in Myanmaar followng political and economic developments of the country.

The government established SME Centers for adopting necessary polocies and conducting research and SME Bank was established for dealing with monetary matters in running SMEs,he said. He thanked the South KOrean government for its pledge to open a KDI.

Through cooperation in SMEs,the interests of the peoples would be served,he said.

Chairman of Myanmar Investment Commission Union Minister U Soe Thein and the KBIZ Chairman exchanged notes of MoU on SME development. The President and those present had the lunch.

The President paid floral tribute at National Cemetery in Seoul in the evening and signed in the visitors' book. - MNA

BUSINESS MEETING WITH GWANG-MYEONG KOREA TRADE MISSION

One to one Business meeting was held with Gwang-myeong Korean Trade Mission

at Mingalar Hall,Kandawgyi Palace Hotel on 12w Oct 2012 from 09:30 am to 4:00 pm staged by KOTRA.

It was a very promising event.

AIKANG GREENTECH CO. LTD.,UDI ENGINEERING CO. LTD.,TAESAN ENGINEERING & CONTROL LTD.,MASTER SYSTEM CO. LTD. etc. are willing to invest in Myanmar and to give agency in Myanmar.He who has interest on it please contact KOTRA Yangon.

 

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Myanmar Business Network: Suzuki Motor plans return to Myanmar with assembly...: Japanese automaker Suzuki Motor Corp. plans to build a factory in Myanmar that will produce 20,000 to 30,000 cars a year and push developmen...

Myanmar Business Network: India, Myanmar bilateral trade likely to double

Myanmar Business Network: India, Myanmar bilateral trade likely to double: The bilateral trade between India and Myanmar is expected to more than double by 2015. According to U Kyaw Swe Tint, Consul General of the R...

THE PRESIDENT GOES TO SEOUL

THE PRESIDENT GOES TO SEOUL

At the invitation of President of the Republic of Korea Mr. Lee Myung-bak,President of the Republic of the Union of Myanmar   U Thein Sein

together with delegation members Union Ministers U Wunna Maung Lwin,           U Soe Thein,U Tin Naing Thein,U Khin Maung Soe and U Soe Myint,Chief  Ministers U Myint Swe,U Ye Myint and U Nyan Lin,Deputy Ministers U Han        Sein and Dr. Daw Thein Thein Htay and Departmental Heads left here by air 

on 7th Oct to pay a goodwill visit to the Republic of Korea and arrived at 

Incheon International Airport in Seoul,the Republic of Korea.

They were welcomed at the airport by Deputy Minister for Foreign Affairs 

and Trade of the Republic of Korea ,Head of Protocol Department Mr. BaeJae Hyun, Head of South Asia and Pacific Affairs Mr. Hae Yun Park,Ambassador 

of the Republic of Korea to Myanmar Mr. Kim Hae Yong,Myanmar Ambassador 

to ROK U Nyunt Hlaing,Military Attache Brig-Gen Myint Hein,personnnel and families of Myanmar Embassy and Military Attache's Office.

The President and delegation members arrived at Lotte Hotel in Seoul on a 

motorecade.The President gave a TV interview to Mr. Kim Yong Deok,Politi-

cal and Foreign Affairs correspondent of KBS News Agency of ROK,at the hall of the hotel.-MNA

Vice-President Dr Sai Mauk Kham receives Japanese Guests

Vice-president Dr. Sai Mauk Kham of the Republic of the Union of Myanmar

received a delegation led by Vice Chairman Mr. Masayuki Matsushita of Osaka-

based Kansai Economic Federation (Kankeiren) and Panasonic Company from Japan at the credentials Hall of the Presidential Palace here this evening.

Present at the call together with Vice-President Dr. Sai Mauk Kham were Deputy Ministers U Thant Kyaw,U Htin Aung,U Thein Aung,Dr. Pwint Hsan,Dr.Daw Khin San Yi and officials.

At the call,they cordially discussed matters related to promotion of amity between

Myanmar and Japan,Myanmar's foreign investment law, human resources development for Myanmar citizens and job opportunities,cooperation for emerging

prospects in factory,workshop,agriculture,science and technology sectors. - MNA

Investment Law

China stands to benefit from the incentivec provided in Myanmar's new Investment policies. As explained by a Myanmar trade representative at a recent

investment seminar in Beijing,customs duties for machinery and equipment during a new foreign project's construction period would be waived,and so will income taxes for the first three years. Value added taxes,once astronomically high,has also been dramatically cut with upper limit of 5 %.

In Special Economic Zones foreign companies will get a 5 years tax holiday and

a 50 % reduction in income taxes on exported products,Myanmar now has three economic (shipping) zones at ports under construction.

 

INVESTMENT IN MYANMAR

MYANMAR FOREIGN INVESTMENT LAW

• FORM OF ORGANIZATION  
• 100 % foreign-owned (permitted  activities by MIC)
• Joint Venture (Any Myanmar Partner or Organization / state owened Enterprises)

Other form of Business Contract which is mutually agreed by both parties                                                                                                   

• MINIMUM FOEIGN CAPITAL   
• Depends on type of business nature and sector
• If JV,35 % of total capital
• If JV (restricted/prohibited activity),                 
• Foreign Capital  -  50 : 50
• Both                    in kind                                                     
•                           in cash

• TAX INCENTIVES

  • 5 YEARS TAX HOLIDAY
  • further tax exemption / relief for an appropriate period in case if it is 
  • considered beneficial for the State. 
  • Exemption on relief from customs duty or other internal taxes or both
  • on importation of machineries & equipments during construction period.
  • Importation of raw materials for production for the first 3 years.
  •  
  • The Commisssion may also grant ; -
  • exemption or relief rom income tax on profit which is reinvested within in year.
  • Relief from income tax up to 50 % on the profir from exports.
  • right to pay income tax on behalf of the foreign employees andt o deduct the same from the assessable income of the enterprise.
  • right to pay income of the foriegn employees at the rate applicable to the citizens of Myanmar.
  • right to deduct the research and development expenditure.
  • Right to accelerate depreciation
  • Right to carry forward and set off losses up to 3 consecutiove years , from the year the loss is sustained.
  • Exemption or relief fromcustom duty ot other internal taxes or both on 
  • machineries ,  equipments, etc. if the investment amount is increased and the original investment business is expanded during the permitted period.

  • Exemption or relief from commercial tax on the goods produced for export.

     

    YOU CAN NOW INVEST IN MYANMAR SUCH AS CONSTRUCTION OF HOTELS IN NAY PYI DAW , YANGON, MANDALAY AND   NGWE SAUNG BEACH.                           

Myanmar Business Network: Myanmar strives for developing smokeless industry

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INVESTING IN MYANMAR

ELECTRIC POWER MINISTRY LURES INVESTORS

Ministry of Electric Power wooed local and foreign investors at the elctricity development seminar at the ministry on 21 September.

The seminar aimed at inviting domestic and foreign investments was attended by

Union Ministers U Tin Naing Thein,U Khin Maung Soe and U Than Htay,deputy ministers U Aung  Than Oo,U Myint Zaw and U Set Aung,representatives from local and foreign companies and officials.

The ministry has already organized regional seminars in each region and state and the national seminar in third week of August.

Union Minister U Than Htay said energy deposits in Myanmar should be tapped as soon as possible as energy exploration has to be done in limited time,poiting out that the hesitation could delay the country'sdevelopment.

Union Minister U Khin Maung  Soe highlighted the environmentally friendliness of investmentsandthe need of comprehensive legislation for privatization.

The meeting focused on electricity sufficiency,incorporation of public companies and privatization.

The government has adopted policy to set schedules of projects sectorwise at Planning Commission meeting and international aids management central commitee meeting on 19 and June. MNA

MYANMAR BANKS MUST PREPARE FOR ASEAN ECONOMIC COMMUNITY

Indonesian and Phillipino Banks are developed very fastly.  The citizens put trust on these banks.We have to see the data first.

1.Land Area

   Myanmar : 677000 km; Indonesia : 1905000 km; Phillipines: 300000 km

2.Population

   Myanmar : 60000000  ; Indonesia : 228500000; Phillipines:90500000

3.GDP 

   Myanmar: 27.2 billions US$;Indonesia:511.8 billions US$;Phillipines:168.6 billion dollars

GDP of Myanmar is the lowest.

Myanmar banks introduce Debit card and other asean countries have  credit cards.

With the help of low interest loan of official development assistance(ODA)  from Japan International Cooperation Agency (JICA),five-year plans of the State sector-wise and region-wise programmes would be effectively implemented for fulfilling people's needs.The today's coordination is to implemet people centered development in line with thepolicy of JICA and to draw priority plans agreed by two sides,said Union Minister at the President Office U Tin Naing Thein at the 

coordination meeting for implementation projects in regions and states with the use of low interest loan assisted by official development assistance at the meeting hall of National Planning and Economic Development Ministry on 24 September.

The interest rate of the official development assistance(ODA) is 0.01 and repayment period is 20 years including pending period 10 years.

Then why not our banks can give low interest loans to entrepreneurs,workers and farmers.

 

 

WELCOME TO MYANMAR

NOTES ON MYANMAR TIMES

President U Thein Sein announced in June a "second wave of reforms",which will include the long awaited new foreign investment law,likely to be passed by parliament soon.Now this draft is in U Thein Sein's hand.How much we have to wait for it.?

The EU has pledged 159 million euros (190 million dollars) over the next five years.Meanwhile the government hopes to meet an ambitious goal of 7.7 GDP growth between 2012 and 2016,and a 70 percent increase in per capita income during jthe same period.Japanese government is ready to grant aid.India is willing to give aid now.People's Republic of China has given many aid,but how about Republic of KOREA?  
"We welcome  foreign direct investment,but frankly speaking we have some worries about it,"said Zaw Min Win,Vice Chairman of Union of Myanmar Federation of Chamber of Commerce & Industry.Zaw Min Win said that he wanted to see more emphasis placed on infrastructure than on consumer products and light industries."Electricity,road transport,port development,and so on"',Zaw Min Win said.
Now Coca-Cola is in Myanmar market together with Pepsi Cola.Many are .coming.Therfore,we must be ready for competition
 

WELCOME TO MYANMAR

WORKSHOP ON MONETARY SERVICE DEVELOPMENT AND INVESTMENT OPPORTUNITIES

The Ministry of Finance and Revenue is implementing monetary reforms for development of monetary sector which plays a pivotal role in economic growth    of the State, said Union Minister for Finance and Revenue U Win Shein at the Workshop on National Level Monetary Service Development and Investment

Opportunities held at Thingaha Hotel here on 18 September.

The Union Minister pointed out that the ministry has permitted to open new private banks and extend banks,has granted issued money changer license, authorize dealer license and has carried out deposit insurance,special drawing rights,managed floating exchange rate regime,foreign exchange auction,two way foreign exchange auction,with private banks which have gor license for foreign currency exchange. 

 The Microfinance Law was promulgated on 30-11-2012 and the Foreign Exchange Management Law on 10-8-2012.Plans are underway to implement banking network for promotion of payment system and Myanmar payment Union Card (MPU-Debit Card).Central Bank of Myanmar has signed MoUs with Tokyo Stock Exchange of Daiwa Research Institute and Policy Research Institute (PRI) of Japanese Finance and Revenue Ministry for capital market development.

The purpose of the workshop is to take advices from scholars,institutions and entrepreneurs in implementation monetary sector development for  public convenience, he added. Policy and plan will be carried out based on the results from the workshop by seeking successful implementation tasks and investment opportunities explained.

Then resource persons including Deputy Minister for Finance and Revenue Dr. Maung Maung Thein read out their papers and those attendees participated in discussions.

Present at the workshop were Union Minster at the President Office U Hla Tun,

Union Minister for Transport U Nyan Tun Aung,Union Minister for National Planning and Economic Development Dr. Kan Zaw, Deputy Ministers for Finance and Revenue Dre. Lin Aung and Dr. Maung Maung Thein,Governor of Central Bank of Myanmar U Than Nyein,Representatives of Pyidaungsu Hluutaw and Amyotha Hluttaw,managing directors and directors-general and directors of Central Bank of Myanmar,scholars,entrepreneurs and media pwersons totalling 195,-MNA

THE KOREA-MYANMAR INDUSTRIAL COOPERATION FORUM 2012 AND ONE-TO-ONE BUSINESS MATCHING WITH KOREAN DELEGATES

                      DATE: 24th Sept,2012 Monday

                      Venue:Grand Ball Room,Chatrium Hotel,Royal Lake,Yangon

Korean Participants:

           37 companies to be led by H.E. Mr. Jaedo Moon,Deputy Minister for

            Knowledge Economy

Organizers:  Ministry of Knowledge Economy 

                  Mineral Resources Cooperation Committee

                  Embassy of the Republic of Korea

                  KOTRA (Korea Trade Investment Promotion Agency

Group Meeting: For Myanmar entrepreneurs who have pianned projects and

                      look for Korean Investors

              

            Invited guests have to arrive at before 8:30 am.

 

WELCOME TO MYANMAR

ASEAN ECONOMIC COMMUNITY (3RD) WORKSHOP

The ASEAN Economic Community  (3rd) Workshop will be held on 22nd September 2012 08:30 AM at Grand Ball Room II,Chatrium Hotel,Natmauk Road,Yangon.

This workshop is organized by PT & MM EVENT CO.,LTD. and main sponsor by Parami Energy Group.

Four Topics:

1.INVESTMENT
2.LOGISTICS
3.SMALL & MEDIUM ENTERPRISES
4.TOURISM
Experienced persons will lead the group discussion by Brainstorming.It will be an incredible workshop meeting.

SPIRAX SARCO ESTABLISHES MYANMMAR OFFICE

Leading British steam engineering services provider Spirax Sarco Engineering(UK) has set its foothold in Myanmarmopening a branch office in the Southeast Asia's emerging economy.

The accalaimed steam services and solution provider delivers more than 5000 ISO standard high-quality products for  boiled  control & systems,        flow metering,

condensate  pumps and energy recovery,and steamtraps and so on to oil and gas,

soft drink,brewery,pharmaceutical,garment and food manufacturing industries worldwide.

It has 1300 engineering services and 38 wolrd-class engineering schools in each and every corner of the world. The engineering schools with full teaching aids have equipped about 12 million engines from various parts of the world with considerable engineering expertise.

Spirax Sarco is a major steam services provider for Nestle,Glaxo Smith Kline's,Johnson & Johnson,Mitchelin Tyres,Guiness Stout,Daniel Thwaites Brewery, Petrobras,COAGAP Oil & Gas,Samsung,Electronics and many other manufacturing. The company's environmental-friendly services are proven to be fit for costing execises of the factrories with steam systems in operation.

Spirax  Sarco's Myanmar partner  Ray Myanmar Company may be reached for further details at 09 73049008.-NLM

SEMINAR ON SMALL & MEDIUM ENTERPRSE BANKING HELD

Central Bank of Myanmar and United Overseas Bank (UOB) branch of Singapore held the Seminar on Small & Medium Enterpris Banking at Park Royal Hotel,here,

this morning,with speeches of Vice-Governor of CBM U Maung Maung Win and UOB Managing Direcvtor Mr Cheo Chai Hong.

Deputy Director U Win Htein MIn of CBM read the paper on the role of SMEs in MYanmar,Excecutive Director MrChoo Kee Siong of UOB on overview of UOB and

Commercial Banking for Medium Enterprise,Excecutive Director Mr. Daniel Yeo of

UOB on Business Banking for Small Enterprises and Executive Director Mr Frankie Phua of UOB on Credit Risk Assessment for SME Lending.

They then replied toqueries raised by those present.MNA

WELCOME TO MYANMAR

PYI DAUNG SU  HLUTTAW PASSED MYANMAR INVESTMENT LAW

On September 7,Pyi Daung Su Hluttaw passed boldly and submitted to President U Thein Sein.The Pyi Daung Su Hluttaw cut  the US$5-million minimum capital needed for Joint Ventures and put the maximum share which the foreign firms can hold in 13 restricted sectors by one percent up to fifty percent.

The Hluttaw removed a clause that said Myanmar citizens had the right to offer to buy ou a foreign investor "if they have the ability to buy and acquire by way of compensation at market rate during the original life of the contract or its extended life if the extebded life is allowed."
This revised  law is more favourable to foreign firms than the last draft.
But the investment in small-to medium-scale enterprises are still limited,because domestic businessmen urged to limit SME.
And it is confirmed that the foreign investments could not be nationalised

KOTRA activity

Arranged by KOTRA Yangon,one-on-one Business with Daegu-Gyeongbuk Korean Trade Mission was held in Ballroom-1,Park Royal Hotel 0n 14th September 2012.

 1. Junghwa Tech Co.,Ltd.

 2. Bo Gwang Textile Co. Ltd.

 3. Mediway Korea Co. Ltd.

 4. Han kook Fire Fighting Equipments Co Ltd.

 5. SORISO Co. Ltd.

 6. Jung An Synthetic Fiber Co. Ltd.

 7. Mungyeong Omija Valley

 8.  DAEWON GSI

 9. Ferrof Co. Ltd.

10. ACEHINGE

•  FEROOF

  •  Head Office & Factory: 565-1 Seonwon-li,Seonnam-myeon Seongju-gun,Gyeongsanbukdo,South Korea        zip code:719-832

    Tel: 82-54-933-9322 Fax: 82-54-933-4254

    * Seoul Office: Rm 812 LG Twintel II 157-3

      Samseong-dong,Kangnam-gu . Seoul,South Korea. Zip code: 135-880

    Tel: 82-2-557-9322 Fax: 82-2-557-5639

www.feroof.com E-mail:info@feroof.com

Feroof said,"With integrity and reliability as well as complete service,we are constantly building our reputation and being acknowledged for the highest quality domesticallyand abroad.

DAEWON GSI
#990-2,Geumsan-Ri,Waegwan-Eup,Chilgok-Gun,Gyeongbuk,R.O.Korea
TEL: 82-54-973-2221
FAX: 82-54-973-2230
E-mail: trade@daewon.com
http://www.daewon.com

Daewon GSI has been developing,installing and processing while leading the new technical age in the rice processing industry.

Myanmar is agricultural-based country.So we can do business with Daewon GSI.

BO GWANG TEXTILE CO. LTD.

This company is doing functional fabrics for home,hotel,hospital,and military use.

www.evri.co.kr

Bo Gwang Textile Company can be our counterpart for Myanmar Textile Factory.

MYANMAR RICE BUSINESS

MYANMAR RICE INDUSTRY ASSOCIATION

Myanmar Rice Industry Association will start sale of reserve rice at Bayintnaung Brokerage an Wadan Street Brokerage as of early  September with the aim of satisfying domestic rice demand.

"We prepare for more transparency in sale of rice.About 10,000 bags of rice will be sold directly at brokerage daily.It is aimed at controlling price of rice in domestic rice market as much as we can,"an official of MRIA.

In the previous sales through tender,the news spread out that only some rice merchants got the opportunities for sales of rice and it consequence raised the prices o frice.This time,the transparency of sale opportunity will be performed.

Rice merchants from regions and states have planned to sell out over 100,000 bags of rice at fair price for the people.

Last month,heavy rains and floods inundated over 200,000 acres of farmlands in Ayeyawady Region.

"Although reserve rice is being sold,price of rice is still high due to the fact that people buy rice based on jtheir worry.Regular consumers also purchaes rice more than their needs.If reserve rice is sold,anybody should not worry about problem of rice price in the market.Not only the association but also other rice companies will sell out their reserve rice if necessar,"said a general manager of rice company.-Myanma Alin.

INDIAN ENTREPRENEURS TO INVEST IN MYANMAR

Republic of the union of Myanmar Federation of Chambers of Commerce and Indutry and Indian entrepreneurs discussed bilateral trade, promotion of border trade,investment of Indian enterpreneurs in education,agriculture,health,services and transport infrastructures,cultivation of cotton and establishment of cotton ginning factory in Sagaing Region,direct flight of India-Myanmar aviation on 30th August,.

ASIAN CEMENT TRADE SEMINAR 13-14 SEPTEMBER

A seminar on cement trade and businesses of Asian countries will be held at Sedona Hotel on

13 and 14 September. The seminar will mainly be attended by entrepreneurs from China which is the top cement producing country ,Indian businesses and cement exporters from Thailand for enabling local cement entrepreneurs to have cement production and better techniques.

MYANMAR GLOBAL INVESTMENT FORUM

The Euromoney Myanmar Global Investment Forum will be held at Myanmar International Convention Ceter,Naypyidaw on 12 and 13 September.State digniteries,American Ambassador H.E. Mr. Derek Mitchell,CEO from S.E Asia of Standard Chartered Bank,Representatives from IFC,IMF.JICA,Bangkok Bank,Siam Bank,BNP Paribas,CIMB and Myanmar entrepreneurs.They will discuss on Future of Myanmar Economics,Marketing and Development of Banking Business,Myanmar Investment Laws,Land and Real-estate Business,Subject on Basic goods production,transportation,Development of infrastructure,Investment in Agriclulture Sector,etc.

UNION ENERGY MINISTER CALLS FOR BOLD REFORM

"The Ministry could achieve success in both upstreeam and downstream sections of energy sector.The operating ration stands at approximately 49.06 percent in five years beginning 2006-2007. The projected ratio for 2012-13 fiscal year is 57.17 per cent. The ministry should not be content with current success but is to exert greater efforts for contribution to national econonmic performance and better service delivery. The staff personnel are to make self-assessment while evaluating the objective conditions of own department and ministry in comparison  with international norms and are to make reforms as necessary" said Union Minister for Enegy U Than Htay at coordination meeting of the ministry on national development planning at the ministry hereon 7 September.

The Union Minister said that there are only two driving forces in implementing a piece of work,priciple and personnel. The upper hiearchy needs to adopt proper policy and management system as necessary and the staff personnel are to try hard to change their mindset and ensure self-improvement. Energy sector development straegies are to be fromulated considering nthe present economic,politicaland social status of the country.

Then Deputy Minister U Htin Aung,director-genral and managing directors and participants made discussion and suggested for energy sector development and reform.

E. & O.E

 

 

 

MYANMAR ECONOMIC ASPECTS

COCA COLA IS COMING TO MYANMAR

H.E. Mr. David L. Carden, U.S. Ambassador, said  on September 7 that Coca Cola  Company will invest in Myanmar US Dollars 100 million within three years.

This investment will give jobs to 2000 workers.Then with PACT Group,the company will search 20,000 jobs for women.

Coca Cola will be first American company invested in Myanmar.

MYANMAR AGRIBUSINESS PUBLIC CORPORATION LIMITED

Myanmar Rice Industry Association Information Officer

Dr. Soe Tun said that Myanmar Agribusiness Public Corporation Limited is arranging to make a Project of Rice Industry Complex on 1000 Acre Land at five main Rice Paddy areas. The project will cost US Dollars 10 million.

U Myo Thuya Aye of MAPCO said that tenders will be invited to Foreign Investors.Main job will be done by MAPCO.The mills included high quality Rice Mills,Full Boiled Rice Mills,Bran Oil Mills and Rice  Vercimeli Mills.

15  places will be  chosen in   Yangon Province, Ayeyawady Province and  Bago  Province.

Vietnam signed MOU to share US Dollars 200 million for the said Project.

MYANMAR INDUSTRIAL DEVELOPMENT BANK CHANGES

U Thein Zaw,Deputy Director General of Union Bank of Myanmar said that Myanmar Industrial Development Bank will be turned to Myanmar Small and Medium Scale Enteprises Development Bank.

 

 

AGRICULTURE ASPECTS

MODEL MAIZE PLOTS HARVESTED IN NAY PYI TAW

A ceremony to harvest hybrid maize plantation of Agriculture Department and Agricultural research Department was held at Thabyebin Village of Zeyathiri Township,Nay pyi taw Council Area on 2 September morning.

Staff of the departments showed off hybrid maize strains on theplots of farmers Daw Hmu and U Khaing Min Aung.After thatmthey harvested Yezin-6 Maize plantations of 13 farmers.

The farmers and guests assessed their best strains of Maize. They selected Yezin-10 strain as the first prize that produced 169 baskets per acrem Yezi-04 strainthe third that produced 145 baskets per acre and Yezi=6 strain the fourth that produced 141  baskets per acre. those wishing to buy maize strains may contact Agricultural Research Department (Yezin),said in-charge of maize and cereal crops section deputy Director U Thant Lwin Oo.

(Myanma Alin)

So far so good. Yellow Maize is our third kind of exportable commodity.We welcome hybrid crop which produce good quality and more quantity output per acre.

EXPORT OF MAIZE

   YEAR                        QUANTITY(THOUSAND METRIC TON)     VALUE ( US$ MILLION)

2008-2009                                         120.2                                     26.4

2009-2010                                           10.4                                       2.1

2010-2011                                           44.8                                     11.2

2011-2012                                          166.5                                     46.6

2012-2013 (April-June)                            9.9                                      2.8

Our hope is that we can break the record of last year export.

MYANMAR AGRIBUSINESS PUBLIC CORPORATION LIMITED(MAPCO)

MYANMAR AGRIBUSINESS PUBLIC CORPORATION LIMITED (MAPCO) 

 Chairman U Chit Khaing stated : "As we are all aware, our blessed country has once again emerged with its hidden vibrancy, charm and economic potentials that are all blossoming. Thanks to the sincere efforts by the government in putting the country at the forefront."

 "Our people for the long have toiled the earth of our golden land to support their living. This however, as noble as it is; may no longer be adequate a the nation is in preparation to embark to the journey of greatness."

"With our government's continuous effort in ensuring the nation's agribusiness return to the zenith, it is imperative for everyone to consolidate their strength to pave the way for a greater national agro-economy."

"The formation of MAPCO is a testimony of this effort. The set of ideals that MAPCO carries is a paradigm shift from the previous agribusiness model to a more robust and comprehensive system. Esseential aspects for the country's generator of wealth, such as education, legislation,private  businesses and the public,are brought together through MAPCO to contribute to a greater overall wealth of our beloved Myanmar."

GOALS AND AIMS

To stand sucessfully as the most vibrant,dynamic and profitable public corporation in Myanmar.

To develop and sustain agribusiness activities so as to ensure prosperity for all stakeholders in the interests of national food security and rapid economic development.

To implement private sector led development in agriculture and agrobased Indutries.

To develop and improve infrastructure and logistics with regard to economic development of Myanmar.

To be a market leader in Myanmar and in global marketplace.

VISION

To be the vanguard of agriculture and agribusiness sectors

MISSION

To reform the agro-based industry into a more vibrant and competitive sector

To catalyse the agriculture segment to become the nation's engine of growth

To place MAPCO as a prominent and preferred agribusiness investment avenue

To position  MAPCO  as a major global agro-commodities trading entity

SOCIAL OBLIGATION

* National stockpile (Emergency Reserve)

* Guaranteed Minimum Price (Selective Intervention)

* Safety Nets for Vulnerable Groups (Food Security}

* Contract Farming (Rural Development)

COMMERCIAL

* Trade Activities

* Processing Activities

* Investment Activities

* Infrastructure Development Activities

* Service Provider

 MAPCO is our dream and our prospect.

MAPCO will render us regularly

* Guidance and Supporting

* Advisory and Observations

* Safeguard farmers and Consumers'Interests

* National Agricultural Development Objectives

MAPCO WEB :www.mapco.com.mm for your perusal and information.

Therefore,we must join MAPCO together to promote our Rice Business and get profit surely.

Chairman U Chit Khaing said "To a successful new beginning and beyond,I welcome you to MAPCO".

 

Myanmar Government

Myanmar Government is making a very big changes in its Cabinet.After appointed Vice President,two union-ministers and one Auditor-General are allowed to retire,nine union-ministers and fifteen deputy ministers are changed.
Myanmar President U Thein Sein will attend UN General Assembly in September.
Myanmar Government is enforcing to Market Economy System.
Japanese Investors are looking forward to invest in Myanmar.Their steps are very advancing.JICA is taking a role in Myanmar.
Foreign Banks are starting to enter Myanmar Banking field.
Changing portfolio of Myanmar Cabinet is changing the administration and economic system  in democratic way.
But setback is occurred,that is the battles in Kachin State.
Let's see our staple food.
RICE        Thousand Metric Tons                    US$ Million

2008-2009         666.4                               198,2
2009-2010         818.1                               254.2
2010-2011         536.4                               198.1
2011-2012         707.2                               267.2
2012-2013         197.0                               65.7 (April-May-June)
YELLOW MAIZE   Thousand Metric Tons           US$ Million
2008-2009          120.2                              26.4
2009-10               10.4                                2.1
2010-2011            44.8                              11.2
2011-2012           166.5                              46.6
2012-2013               9.9                                2.8 (April-May-June)
We can see the progress in new Government.
We hope for good business in Myanmar soon.

Myanma Agriculture Aspects

THE NEW LIGHT OF MYANMAR WROTE:
Naturally,investment in the agriculture is uncertain to gain profits as it is depending on the weather.But,as the world has seen bigger problem of food security,some big companies are interested doing investment in the sector despite risks its.
Meanwhile,the agriculture sector of Myanmar is cheered as the Window to the World as the country possesses favourable conditions to be able to reclaim its status of the world's biggest rice exporter in the 1960s.
Myanmar is an agro-based country and has about 8 million hectres of virgin land and the big river such as the Ayeyawady,Sittoung,the Thanlwin and the Chindwin are flowing in the country.It is the greatest asset of Myanmar.
(Now) the agricultural sector of Myanmar is attractive because of the chance of applying new technology,and mechanization improving the productivity and all this will have to be done in next five years in this country.The chance is now better,improved,higher quality agriculture.
To improve the agricultural sector,the key word is growing quality strains of crops and mechanized farming.At the same time,to improve the socio-economic status of the farmers,emphasis should also be placed on establishing cooperatives of farmers to be able to distribute quality seeds,fertilizers,pesticides and running micro-credit scheme smoothly.
Therefore,Myanmar Rice Industry Association formed on 26th August 2012 Myanmar Agri-business  Public Corporation Limited successfully.
The objectives,goals & aims are to stand successfully as the most vibrant,dynamic and profitable public corporation in Myanmar.
 To develop and sustain agribusiness activities so as  to ensure prosperity for all stakeholders in the interests of national food security and rapid economic development.
To implement private sector led development in agriculture and agrobased industries.
To develop and improve infrastructure and logistics with regard to economic development of Myanmar.
To be a market leader in Myanmar and in global marketplace.
Therefore,we have to watch MAPCO that it can be vanguard of agriculture and agribusiness sector.

MYANMAR BUSINESS PREVIEW

MYANMAR BUSINESS PREVIEW

The Economic System

The economic system of the Republic of the Union of Myanmar is market economic system.

The Constitution states that the Union shall:

(a) permit all economic forces such as the State,regional organization,co-operatives,joint-ventures,private individual,so forth,to take part in  economic activities for the development of National economy;

(b) protect and prevent acts that injue public interests throgh monopolization or manipulation of prices by an individual or group with intent to endangerfair competition in economic activities;

(c) strive to improve the livcing standards of the people and development of investments;

(d) not nationalize economic enterprises;

(e) not demonetize the currency legally in circulation.

Agriculture is main job of Myanmar.Agricultural development is the essential role to development of rural and urban.establishment of quality agricultural zones with a shift to quality grains suited to local climate and land,and nsetting up model township for agricultural development and poverty alleviation scheme.

President U Thein Sein exhorted that they were to lend helping hand to local people who are in difficulties for a while due to flood.The government and people collaborated to fight for challenges.

Now flood is swoop for the whole country.We have to lend a hand to local people.

Market-oriented Economy

Myanmar is now entering a new phase of Democracy.Myanmar choose Market-oriented Economy System.
It is declared in the Constitution of Myanmar.Myanmar welcome all investment from abroad.However,the investments from abroad are at a very slow pace.Myanmar  is a child in this field.Myanmar has to follow the
steps of ASEAN members Singapore and Malaysia.Singapore and Malaysia are on the lead now.

New Economy

New Economy of Myanmar

Myanmar entered the new phase of Democracy.Myanmar choose Market Oriented Economy.It is declared in the Constitution of Myanmar.Myanmar is a child in this field.In ASEAN countries Singapore and Malaysia are leaders.However Myanmar asked for Foreign Investments.But it is delayed due to US Sanction.

So we ask for release of US Sanction.